PUBLISHER: Grand View Research | PRODUCT CODE: 1842025
PUBLISHER: Grand View Research | PRODUCT CODE: 1842025
The India vaccine market was estimated at USD 2.45 billion in 2024 and is projected to reach USD 5.20 billion by 2033, growing at a CAGR of 8.50% from 2025 to 2033. This growth is driven by a high burden of infectious diseases, including tuberculosis, hepatitis, pneumonia, and influenza, highlighting the need for effective vaccination programs. For instance, in June 2025, the World Health Organization reported that approximately 29.8 million individuals in India were living with HBV infection in 2022, which was the third leading cause of cirrhosis and accounted for around 98,305 deaths.
Chronic HBV increased the risk of hepatocellular carcinoma, with 25% developing HCC, and reactivation triggering acute-on-chronic liver failure. Rising awareness and new infectious threats have increased vaccine demand, supporting market expansion.
Advancements in vaccine technology and manufacturing have fueled market expansion in India. Indigenous vaccines such as HPV and COVID-19 have improved self-reliance in production. In June 2025, the Serum Institute of India (SII) became the first vaccine manufacturer worldwide to submit a Prequalification Dossier to the WHO in the electronic Common Technical Document format via the ePQS portal, marking a step forward in regulatory innovation. In 2023, India launched its first indigenous HPV vaccine, Cervavac, developed through collaboration between SII, the Department of Biotechnology, BIRAC, and the Bill & Melinda Gates Foundation. Modern manufacturing methods, facility expansions, and global partnerships have boosted domestic and international supply. These advances, supported by cost-effective production, strengthen India's leading global vaccine producer position.
The growth of healthcare infrastructure and better access to medical services have supported the expansion of the vaccine market in India. New facilities in underserved regions have improved vaccination delivery. For instance, in March 2025, the Health and Family Welfare Department, Government of Tamil Nadu reported that Tamil Nadu extended immunization services to 4,848 rural health and wellness centres and 500 urban centres.
Daily vaccination sessions were held in hospitals and health centres, while village health nurses conducted outreach at anganwadis and public locations every Wednesday. Free, high-quality vaccines were made more accessible, reducing out-of-pocket costs for families. Secure cold-chain management ensured safe redistribution of unused doses. Alongside mobile units, digital tracking, and strong distribution networks, these efforts have increased vaccine coverage and driven long-term market growth.
The resurgence of seasonal influenza A (H1N1) in India, with over 20,000 reported cases and 347 deaths as of June 2025, underscores a pressing public health challenge. High-risk groups, including the elderly, children, and individuals with chronic conditions, have been particularly affected, leading to increased hospitalizations and outpatient visits. Health authorities are emphasizing robust vaccination strategies, including potential integration of influenza vaccines into the national immunization schedule. Strengthened surveillance and awareness campaigns are essential to reduce transmission, protect vulnerable populations, and enhance healthcare preparedness.
Currently, influenza vaccination coverage in India is only around 1.5%, revealing a significant gap in preventive care. This scenario presents a substantial growth opportunity for the India vaccine industry, driving manufacturers to scale production and distribution. Targeted vaccination drives and public awareness campaigns can improve uptake, while investment in new formulations and combination vaccines could enhance effectiveness. Rising demand will stimulate competition, innovation, and pricing strategies, ultimately strengthening the vaccine ecosystem and supporting public health outcomes in the country.
India Vaccine Market Report Segmentation
This report forecasts revenue growth and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the India vaccine market report based on indication, type, route of administration, age group, and distribution channel: