South Korea Vaccine Market Size & Outlook, 2026-2033
- Pharmaceuticals
- Vaccines
- Vaccine Market Outlook
- Vaccines
Global Market
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South Korea vaccine market highlights
- The South Korea vaccine market generated a revenue of USD 1,451.9 million in 2025 and is expected to reach USD 2,585.8 million by 2033.
- The South Korea market is expected to grow at a CAGR of 7.3% from 2026 to 2033.
- In terms of segment, viral vaccines was the largest revenue generating indication in 2025.
- Other Indication is the most lucrative indication segment registering the fastest growth during the forecast period.
Vaccine market data book summary
| Market revenue in 2025 | USD 1,451.9 million |
| Market revenue in 2033 | USD 2,585.8 million |
| Growth rate | 7.3% (CAGR from 2026 to 2033) |
| Largest segment | Viral vaccines |
| Fastest growing segment | Other Indication |
| Historical data | 2021 - 2024 |
| Base year | 2025 |
| Forecast period | 2026 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Viral Vaccines, Bacterial Vaccines, Cancer Vaccines, Allergy Vaccines, Other Indication |
| Key market players worldwide | Serum Institute of India Pvt. Ltd., CSL Ltd, Sanofi SA, GSK PLC, Merck & Co Inc, Pfizer Inc, Sinovac Biotech Ltd, BioNTech SE ADR, AstraZeneca PLC, Moderna Inc |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.0% of the global vaccine market in 2025.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2033.
- In Asia Pacific, China vaccine market is projected to lead the regional market in terms of revenue in 2033.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 5,198.2 million by 2033.
The South Korea vaccine market is anticipated to grow owing to increasing healthcare expenditure, favorable government initiatives, and a high burden of flu & other infectious diseases. Moreover, several vaccine manufacturing expansions by market players are another factor fueling the country’s market.
In addition, strategic activities by the government will further offer lucrative opportunities during the study period. For instance, in May 2023, the WHO and the Republic of Korea formalized a Memorandum of Understanding to establish a global training hub specializing in biomanufacturing.
This training center is intended to cater to Low- and Middle-income Countries (LMICs), enabling them to produce vital biological products, including vaccines, insulin, monoclonal antibodies, and cancer medicines.
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Publish Date: Jul 28, 2025
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Vaccine Market Scope
Vaccine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Pfizer Inc | View profile | 88,000 | 66 Hudson Boulevard East, New York, NY, United States, 10001-2192 | www.pfizer.com |
| Sanofi SA | View profile | 87,994 | 46, avenue de la Grande Armée, Paris, France, 75017 | www.sanofi.com |
| Merck & Co Inc | View profile | 72,000 | 126 East Lincoln Avenue, Rahway, NJ, United States, 07065 | www.merck.com |
| GSK PLC | View profile | 70,200 | 980 Great West Road, Brentford, Middlesex, United Kingdom, TW8 9GS | www.gsk.com |
| Serum Institute of India Pvt. Ltd. | View profile | 1001-5000 | Pune, Maharashtra, India, Asia | www.seruminstitute.com/ |
| AstraZeneca PLC | View profile | 89,900 | 1 Francis Crick Avenue, Cambridge Biomedical Campus, Cambridge, United Kingdom, CB2 0AA | www.astrazeneca.com |
| Sinovac Biotech Ltd | View profile | 3,261 | No.39, Shangdi Xi Road, Haidan District, Beijing, China, People's Republic of, 100085 | www.sinovac.com |
| CSL Ltd | View profile | 32,000 | 655 Elizabeth Street, Melbourne, VIC, Australia, 3000 | www.csl.com |
| BioNTech SE ADR | View profile | 6,133 | An der Goldgrube 12, Mainz, RP, Germany, D-55131 | www.biontech.de |
| Moderna Inc | View profile | 5,600 | 200 Technology Square, Cambridge, MA, United States, 02139 | www.modernatx.com |
South Korea Vaccine Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Vaccine Market Outlook will help companies and investors design strategic landscapes.
Viral Vaccines was the largest segment with a revenue share of 65.73% in 2025.
Horizon Databook has segmented the South Korea vaccine market based on viral vaccines, bacterial vaccines, cancer vaccines, allergy vaccines, other indication covering the revenue growth of each sub-segment from 2021 to 2033.
The South Korea vaccine market is anticipated to grow owing to increasing healthcare expenditure, favorable government initiatives, and a high burden of flu & other infectious diseases. Moreover, several vaccine manufacturing expansions by market players are another factor fueling the country’s market.
In addition, strategic activities by the government will further offer lucrative opportunities during the study period. For instance, in May 2023, the WHO and the Republic of Korea formalized a Memorandum of Understanding to establish a global training hub specializing in biomanufacturing.
This training center is intended to cater to Low- and Middle-income Countries (LMICs), enabling them to produce vital biological products, including vaccines, insulin, monoclonal antibodies, and cancer medicines.
- South Korea Vaccine Market Indication Outlook (Revenue, USD Million , 2021-2033)
- Viral Vaccines
- Bacterial Vaccines
- Cancer Vaccines
- Allergy Vaccines
- Other Indication
- South Korea Vaccine Market Type Outlook (Revenue, USD Million , 2021-2033)
- Subunit Vaccines
- Inactivated
- Live Attenuated
- mRNA Vaccines
- Viral Vector Vaccines
- South Korea Vaccine Market Route of Administration Outlook (Revenue, USD Million , 2021-2033)
- Oral
- Parenteral
- Nasal
- South Korea Vaccine Market Age Group Outlook (Revenue, USD Million , 2021-2033)
- Pediatric Age Group
- Adult Age Group
- South Korea Vaccine Market Distribution Channel Outlook (Revenue, USD Million , 2021-2033)
- Hospital & Retail Pharmacies
- Government Suppliers
- Others Distribution Channel
Reasons to subscribe to Vaccine Market Outlook databook
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Target buyers of Vaccine Market Outlook databook
- Our clientele includes a mix of Vaccine Market Outlook companies, investment firms, advisory firms & academic institutions.
- 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
- Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
- The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea Vaccine Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into South Korea Vaccine Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
South Korea Vaccine Market, 2021-2033 (US$M)
South Korea vaccine market statistics, by indication, 2021-2033 (US$M)
