PUBLISHER: Grand View Research | PRODUCT CODE: 1941816
PUBLISHER: Grand View Research | PRODUCT CODE: 1941816
The global vaccine market size was estimated at USD 72.75 billion in 2025 and is projected to reach USD 115.77 billion by 2033, growing at a CAGR of 5.78% from 2026 to 2033. The market is driven by the increasing investment in R&D and the rising focus of sponsors & investigators on reducing research costs.
Moreover, the increasing adoption of outsourcing laboratory services by pharmaceutical & biotechnology companies and other end users to reduce the overall cost of research activities further supports the market growth over the forecast period. The global vaccine industry is positioned as a strategic component of preventive healthcare systems and is primarily driven by public immunization programs, outbreak preparedness, and routine disease prevention initiatives across regions. Vaccines are integrated into national healthcare budgets and long-term public health planning due to their role in reducing disease burden and downstream treatment costs. According to the World Health Organization, immunization prevents an estimated 2-3 million deaths every year worldwide by protecting against vaccine-preventable diseases such as measles, diphtheria, tetanus, pertussis, and influenza. In April 2024, the WHO published a comprehensive analysis in The Lancet reporting that global immunization programs have prevented approximately 154 million deaths over the past 50 years, reinforcing vaccination as a central public health investment. In April 2025, the World Health Organization marked World Immunization Week with a focus on closing immunization gaps, strengthening immunization delivery systems, and expanding vaccine coverage across the life course, reflecting continued global policy prioritization of immunization as a core public health intervention.
Market growth is supported by the continued prevalence of infectious diseases, expansion of adult and geriatric immunization programs, and recovery of routine vaccination coverage following pandemic-related disruptions. According to the World Health Organization Global Tuberculosis Report 2024, an estimated 10.8 million people developed tuberculosis globally in 2023, with the highest burden concentrated in regions such as Southeast Asia and Africa, sustaining demand for preventive and control strategies in high-burden markets. In April 2024, the World Health Organization Global Hepatitis Report estimated that approximately 254 million people were living with chronic hepatitis B and 50 million with chronic hepatitis C worldwide, with more than 1 million new viral hepatitis infections occurring each year, underscoring the continued public health burden of hepatitis globally. In May 2025, the U.S. Food and Drug Administration approved Moderna's next-generation COVID-19 vaccine, mNEXSPIKE, for older adults aged 65 years and above and for individuals aged 12-64 years with underlying medical conditions, indicating continued regulatory support for vaccine adoption among high-risk populations.
The market is increasingly shaped by shifts in technology platforms, product portfolios, and manufacturing strategies, reflecting a transition toward broader disease coverage and long-term supply resilience. Platform-based development approaches, particularly mRNA technologies, have enabled faster design cycles, greater flexibility in antigen selection, and the development of combination vaccines, supporting portfolio expansion beyond single-disease products. These advancements are contributing to increased focus on respiratory indications and multi-pathogen prevention strategies, particularly within adult and elderly populations. In September 2022, Pfizer and BioNTech initiated Phase III clinical trials for an mRNA-based influenza vaccine, marking the extension of mRNA platforms beyond COVID-19 applications. In May 2025, the World Health Organization reported that its mRNA Technology Transfer Programme had expanded to 15 global partners, supporting the decentralization of vaccine manufacturing and the development of regional production capacity. In parallel, expanding adult immunization frameworks and broader regulatory recommendations are increasing the addressable market for vaccines across age groups, indicating that market evolution is being driven by public-sector priorities, platform diversification, and demographic shifts rather than short-term demand fluctuations.
Global Vaccine Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels 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 global vaccine market report based on indication, type, route of administration, age group, distribution channel, and region: