Preventive Vaccines Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 89.51 Billion |
| Market Size (2029) | USD 96.04 Billion |
| CAGR (2024 - 2029) | 1.42 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Preventive Vaccines Market Analysis
The Preventive Vaccines Market size is estimated at USD 89.51 billion in 2024, and is expected to reach USD 96.04 billion by 2029, growing at a CAGR of 1.42% during the forecast period (2024-2029).
Factors such as the growing prevalence of infectious diseases, innovative technology in vaccine development, increased funding from government and international organizations, and the increasing government focus on immunization programs are boosting the market's growth.
The rising incidences of infectious diseases are the key factor expected to drive the demand for preventive vaccines over the forecast period. For instance, according to the World Health Organization data published in November 2023, tuberculosis was the second most deadly infectious disease globally, following COVID-19. In 2022, an estimated 10.6 million individuals globally contracted tuberculosis (TB), comprising 5.8 million men, 3.5 million women, and 1.3 million children. Additionally, per the Centers for Disease Control and Prevention (CDC), the US TB rate climbed by 15% in March 2024, from 2.5 per 100,000 individuals in 2022 to 2.9 in 2023.
Thus, the rising burden of tuberculosis among the population increases the need for its prevention, which, in turn, is anticipated to propel the market's growth over the forecast period. Additionally, according to data published by the World Health Organization (WHO) in July 2023, globally, an estimated 58 million people had chronic hepatitis C virus, and about 1.5 million new infections occur annually. According to the same source, the hepatitis C virus is a blood-borne pathogen, and the most common form of the disease is exposure to small amounts of blood. Thus, the increasing burden of hepatitis is propelling the growth of the market.
The rapid advancements in vaccine technology are fueled by the introduction of genetic engineering, vaccine-delivering technology, and proteomics. For instance, in January 2024, the National Medical Products Administration of China granted regulatory approval for CSPC Pharmaceutical Group's candidate vaccine for the respiratory syncytial virus (RSV) to commence human clinical trials. This is expected to increase the development of preventive vaccine products, bolstering the market's growth.
Rising government initiatives in organizing immunization programs to prevent the spread of infectious diseases and the need for vaccination are expected to increase the market's growth over the forecast period. For instance, in February 2024, the Government of India initiated a vaccination program targeting girls aged 9 to 14 aimed at preventing cervical cancer. Furthermore, the government is actively promoting this vaccination among the eligible age group. Therefore, owing to these factors, the market is expected to grow over the forecast period. However, the risk of adverse effects and the high cost of vaccine development will likely impede the market's growth over the forecast period.
Preventive Vaccines Market Trends
The Hepatitis Segment is Expected to Witness Significant Growth Over the Forecast Period
Hepatitis, characterized by liver inflammation, can arise from various sources, including viruses, alcohol, and drugs. The predominant strains are hepatitis A, B, and C, each stemming from distinct viruses. Common symptoms encompass jaundice, fatigue, and abdominal discomfort. Treatment strategies hinge on the underlying cause and the condition's severity.
The rise in hepatitis cases is likely to drive the growth of the preventive vaccines market due to increasing demand for effective vaccination solutions. As hepatitis remains a significant global health issue, especially in areas with high infection rates, both public health initiatives and individual awareness are leading to more substantial investment in vaccine development and distribution. For instance, according to the World Health Organization data updated in 2024, in 2022, 304 million individuals globally were diagnosed with chronic viral hepatitis B and C. Further, 2.2 million new infections of these chronic viral hepatitis strains occurred in 2022. Therefore, as the demand for effective vaccination solutions increases to combat the rising number of hepatitis cases, there is a stronger emphasis on developing and distributing vaccines. This heightened focus on prevention and public health drives investment and innovation in the segment.
Government initiatives play a crucial role in driving the preventive vaccines market by promoting vaccination programs, funding research, and implementing public health policies. Governments often launch vaccination campaigns, provide subsidies, and establish immunization guidelines to enhance public access to vaccines. For instance, in June 2024, Gavi unveiled new vaccination initiatives targeting preventive measures against Ebola, routine multivalent meningitis, human rabies, and the hepatitis B birth dose. As per the same source, Gavi is extending its support to lower-income nations, facilitating the routine administration of the human rabies vaccine for post-exposure prophylaxis alongside the multivalent meningococcal conjugate and hepatitis B birth dose vaccines.
Therefore, the segment is expected to grow over the forecast period due to factors such as the rising burden of hepatitis A, B, and C and increasing government initiatives to boost the preventive vaccines for hepatitis.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
The preventive vaccines market in North America is expected to grow over the forecast period owing to factors such as the rising prevalence of infectious diseases, increasing demand for vaccines, growing geriatric population prone to develop infectious diseases, and the presence of key market players.
The rising burden of infectious diseases, such as COVID-19, drives the preventive vaccines market by significantly increasing vaccine demand. The urgent need to control widespread outbreaks accelerates vaccine development and broadens the range of available vaccines. This heightened demand leads to more significant investment in research, improved vaccine distribution, and the implementation of vaccination mandates. For instance, according to data published by the World Health Organization (WHO) in August 2024, about 7.6 million confirmed cases of COVID-19 were reported in Mexico. In addition, 222.23 million vaccine doses had been administered in the country by August 2024.
According to the same source, 711.81 million vaccine doses had been administered in the country by August 2024 in the United States. Therefore, the outbreak of infectious diseases like COVID-19 stimulates the preventive vaccines market by boosting demand, accelerating development, and expanding vaccine availability, which is expected to fuel the market's growth over the forecast period.
Increasing government focus on organizing immunization programs also contributes to the market's growth. For instance, in December 2023, Ontarians and other Canadians accessed free influenza vaccines under the Universal Influenza Immunization Program (UIIP). Ontario residents aged six months and older who work or attend school qualified for the influenza vaccine. Additionally, in February 2023, the Canadian government's immunization program advised that children should receive the polio vaccine at 2, 4, and 18 months, followed by a booster dose between the ages of 4 and 6. An extra dose of IPV can be given at six months, alongside DTap and Hib, for convenience. Therefore, government-led immunization programs drive the preventive vaccines market by expanding vaccine access, increasing public participation, and fostering investment in vaccine development, which will drive market growth in North America.
Growing funding from government and international organizations to accelerate the development of preventive vaccines in the country is also expected to boost the market's growth. For instance, according to the National Institute of Health, in March 2024, the US government allocated USD 364 million to combat hepatitis in 2023, following a USD 359 million investment in 2022. Therefore, increasing government funding for hepatitis propels the preventive vaccines market by supporting research, enhancing production capabilities, and expanding vaccination programs. Such investments foster broader vaccine availability and accessibility, ultimately strengthening global efforts to control and prevent hepatitis.
The rising focus of companies on adopting various business strategies, such as collaboration, expansion, and launches, is expected to create opportunities for the availability of preventive vaccines in the market. This is anticipated to fuel the market's growth over the forecast period. For instance, in October 2023, Pfizer received US Food and Drug Administration (FDA) approval for PENBRAYA, making it the first and only vaccine against the five most common serogroups of meningococcal disease in adolescents and young adults.
In addition, in August 2023, Pfizer received US FDA approval for ABRYSVO. This approval was for a specific use case: immunization of pregnant women between 32 and 36 weeks of gestation to protect their newborns from respiratory syncytial virus (RSV). It was the first and only US approval for a maternal vaccine to help protect infants at birth through six months of life from lower respiratory tract disease (LRTD) and severe LRTD due to RSV.
Therefore, the market is expected to grow over the forecast period due to factors such as the high incidences of infectious diseases, increasing immunization programs and campaigns, growing government funding for developing preventive vaccines, and increasing company activities.
Preventive Vaccines Industry Overview
The preventive vaccines market is fragmented and consists of several major players. A few of the major players currently dominating the market in terms of market share include GSK PLC, Johnson & Johnson Services Inc., Merck & Co., Pfizer Inc., and Sanofi.
Preventive Vaccines Market Leaders
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Merck & Co
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GSK plc
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Johnson & Johnson Services, Inc.
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Pfizer Inc.
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Sanofi
*Disclaimer: Major Players sorted in no particular order
Preventive Vaccines Market News
- April 2024: VBI Vaccines Inc. signed an expansion of its collaboration with the Canadian government, backed by the Strategic Innovation Fund (SIF) funding. The new agreement directed the remaining Canadian USD 28 million from the previously committed Canadian USD 56 million toward developing VBI's proprietary MLE platform. This next-generation platform enhanced the company's eVLP (enveloped virus-like particle) vaccine technology by enabling the coding of eVLPs using messenger RNA (mRNA).
- January 2024: Indian Immunologicals Ltd (IIL), a biopharmaceutical company and a wholly-owned subsidiary of the National Dairy Development Board (NDDB), launched 'Havisure,' India's first indigenously developed Hepatitis A vaccine. This development marked a significant milestone in India's efforts to combat Hepatitis A and is expected to enhance public health significantly.
Preventive Vaccines Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Prevalence of Infectious Diseases
4.2.2 Innovative Technology in Vaccine Development
4.2.3 Increased Funding from Government and International Organizations
4.2.4 Increasing Government Focus on Immunization Programs
4.3 Market Restraints
4.3.1 Risk of Adverse Effects
4.3.2 High Cost of Vaccine Development
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Vaccine Type
5.1.1 Live/Attenuated Vaccines
5.1.2 Inactivated Vaccines
5.1.3 Subunit Vaccines
5.1.4 Toxoid Vaccines
5.1.5 mRNA Vaccines
5.1.6 Other Vaccine Types
5.2 By Disease Type
5.2.1 Pneumococcal
5.2.2 Poliovirus
5.2.3 Hepatitis
5.2.4 Influenza
5.2.5 Measles, Mumps, and Rubella (MMR)
5.2.6 COVID-19
5.2.7 Other Disease Types
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AstraZeneca PLC
6.1.2 Emergent BioSolutions Inc.
6.1.3 Daiichi Sankyo Company Limited
6.1.4 GSK plc
6.1.5 Johnson & Johnson Services, Inc.
6.1.6 Merck & Co.
6.1.7 Novavax Inc.
6.1.8 Pfizer Inc.
6.1.9 Sanofi
6.1.10 Takeda Pharmaceutical Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Preventive Vaccines Industry Segmentation
Preventive vaccines are used to prevent infection with viruses, which cause serious diseases. The vaccine is made using a weakened form of the virus that cannot cause disease but causes the body's immune system to make antibodies that destroy the virus.
The preventive vaccines market is segmented by vaccine type, disease type, and geography. By vaccine type, the market is segmented into live/attenuated vaccines, inactivated vaccines, subunit vaccines, toxoid vaccines, mRNA vaccines, and other vaccine types. By disease type, the market is segmented into pneumococcal, poliovirus, hepatitis, influenza, measles, mumps, and rubella (MMR), COVID-19, and other disease types. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (USD) for all the above segments.
| By Vaccine Type | |
| Live/Attenuated Vaccines | |
| Inactivated Vaccines | |
| Subunit Vaccines | |
| Toxoid Vaccines | |
| mRNA Vaccines | |
| Other Vaccine Types |
| By Disease Type | |
| Pneumococcal | |
| Poliovirus | |
| Hepatitis | |
| Influenza | |
| Measles, Mumps, and Rubella (MMR) | |
| COVID-19 | |
| Other Disease Types |
| Geography | ||||||||
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Preventive Vaccines Market Research FAQs
How big is the Preventive Vaccines Market?
The Preventive Vaccines Market size is expected to reach USD 89.51 billion in 2024 and grow at a CAGR of 1.42% to reach USD 96.04 billion by 2029.
What is the current Preventive Vaccines Market size?
In 2024, the Preventive Vaccines Market size is expected to reach USD 89.51 billion.
Who are the key players in Preventive Vaccines Market?
Merck & Co, GSK plc, Johnson & Johnson Services, Inc., Pfizer Inc. and Sanofi are the major companies operating in the Preventive Vaccines Market.
Which is the fastest growing region in Preventive Vaccines Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Preventive Vaccines Market?
In 2024, the North America accounts for the largest market share in Preventive Vaccines Market.
What years does this Preventive Vaccines Market cover, and what was the market size in 2023?
In 2023, the Preventive Vaccines Market size was estimated at USD 88.24 billion. The report covers the Preventive Vaccines Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Preventive Vaccines Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Preventive Vaccines Industry Report
The preventive vaccines market is experiencing significant growth trends, driven by advancements in vaccine types, including live/attenuated vaccines, inactivated vaccines, subunit vaccines, toxoid vaccines, and mRNA vaccines. This market segmentation covers various disease types such as pneumococcal, poliovirus, hepatitis, influenza, measles, mumps, and rubella (MMR), and Covid-19, among others. The geographical scope spans North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
The market forecast indicates a robust market growth, supported by comprehensive industry research and market data. The industry analysis highlights the market size and market value, offering insights into market trends and market segmentation. Industry reports suggest that market leaders are capitalizing on the increasing demand for preventive vaccines, contributing to the market's overall growth rate.
In-depth industry information and market overview reveal that the market outlook remains positive, with market predictions pointing towards sustained industry sales. The industry statistics provide a detailed market review, showcasing the market's expansion and the pivotal role of research companies in driving innovation.
The industry outlook underscores the importance of understanding market dynamics, with industry trends shaping the future of preventive vaccines. The report example and report PDF serve as valuable resources for stakeholders seeking detailed market analysis and strategic insights. The market forecast and market growth projections are essential for comprehending the long-term potential of the preventive vaccines market.
