Vaccine Market Size To Reach $115.77 Billion By 2033

Vaccine Market Growth & Trends

The global vaccine market size is expected to reach USD 115.77 billion by 2033, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.78% from 2026 to 2033. The growth is attributed to the rising immunization programmes, and the development of vaccines for diseases, such as RSV and Chlamydia amongst others. There has been significant progress in improving access to vaccines for diseases of public health concern. Many new vaccines have been developed and distributed globally, resulting in the saving of countless lives and the prevention of various illnesses.

Furthermore, there are several initiatives in the vaccine market aimed at improving access to vaccines, developing new vaccines, and ensuring vaccine safety. These initiatives involve international organizations, governments, private sector entities, and philanthropic organizations. Through collaboration and innovation, these initiatives are helping to address global health challenges and improve public health outcomes. For instance, COVAX is a global initiative aimed at ensuring equitable access to COVID vaccines. The initiative is co-led by Gavi, the Vaccine Alliance, the World Health Organization (WHO), and the Coalition for Epidemic Preparedness Innovations (CEPI).

Although there are over 90 vaccine manufacturers supplying vaccines to World Health Organization Member States in 2021, supply remains highly dependent on fewer than 10 manufacturers with diverse deployable technology and global reach. This concentration leads to regional supply insecurity and market health issues, particularly in the African and Eastern Mediterranean regions. It is anticipated that the COVID vaccine market could go private in the second half of 2023 in the U.S. This privatization may lead to an increase in prices of COVID vaccines and open up the market for other players as well. For instance, both Moderna and Pfizer BioNTech have announced that the prices of their respective mRNA COVID vaccines could increase to around USD 110 to USD 130 per shot.

 Request a free sample copy or view report summary: Vaccine Market Report

Vaccine Market Report Highlights

• The viral vaccines segment dominated the market with the largest revenue share of 61.17% in 2025, supported by structurally embedded demand from national immunization programs, regulatory prioritization, and continued platform investments.

• The Subunit Vaccines segment dominated the market with the largest revenue share of 30.72% in 2025 and is expected to grow at the fastest CAGR of 7.67% over the forecast period.

• The parenteral segment dominated the market with the largest revenue share of 84.80% in 2025, supported by the injectable-centric vaccine portfolios of long-established manufacturers serving national immunization programs.

• The adult segment held the largest revenue share of 56.65% in the market in 2025 and is expected to grow at the fastest CAGR of 6.63% over the forecast period.

• The Hospital & Retail Pharmacies segment dominated the market with the largest revenue share of 56.36% in 2025 and is expected to grow at the fastest CAGR of 6.76% over the forecast period.

Vaccine Market Segmentation

Grand View Research has segmented the global vaccine market on the basis of indication, type, route of administration, age group, distribution channel, and region:

Vaccine Indication Outlook (Revenue, USD Million, 2021 - 2033)

• Viral Vaccines

  • Hepatitis

    • Pediatric (Children)

    • Adult

  • Influenza

    • Pediatric (Children)

    • Adult

  • HPV

    • Pediatric (Children)

    • Adult

  • MMR

    • Pediatric (Children)

    • Adult

  • Rotavirus

    • Pediatric (Children)

    • Adult

  • Herpes Zoster

    • Pediatric (Children)

    • Adult

  • Japanese Encephalitis

    • Pediatric (Children)

    • Adult

  • RSV

    • Pediatric (Children)

    • Adult

  • Others

    • Pediatric (Children)

    • Adult

• Bacterial Vaccines

  • Meningococcal Diseases

    • Pediatric (Children)

    • Adult

  • Pneumococcal diseases

    • Pediatric (Children)

    • Adult

  • DPT

    • Pediatric (Children)

    • Adult

  • Others

    • Pediatric (Children)

    • Adult

• Cancer Vaccines

  • Pediatric (Children)

  • Adult

• Allergy Vaccines

  • Pediatric (Children)

  • Adult

• Other

  • Pediatric (Children)

  • Adult

Vaccine Type Outlook (Revenue, USD Million, 2021 - 2033)

• Subunit Vaccines

  • Recombinant Vaccines

  • Conjugate Vaccines

  • Toxoid Vaccines

• Inactivated

• Live Attenuated

• mRNA Vaccines

• Viral Vector Vaccines

Vaccine Route of Administration Outlook (Revenue, USD Million, 2021 - 2033)

• Oral

• Parenteral

• Nasal

Vaccine Age Group Outlook (Revenue, USD Million, 2021 - 2033)

• Pediatric

• Adult

Vaccine Distribution Channel Outlook (Revenue, USD Million, 2021 - 2033)

• Hospital & Retail Pharmacies

• Government Suppliers

• Others

Vaccine Regional Outlook (Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Vaccine Market

• Serum Institute of India Pvt. Ltd.

• Seqirus

• Sanofi

• Merck & Co., Inc.

• Pfizer Inc.

• Moderna Inc.

• Sinovac

• BioNTech SE

• AstraZeneca