Vaccines Market worth $71.14 billion by 2031
The report "Vaccines Market by Technology (Conjugate, Recombinant, Inactivated, Live Attenuated, mRNA), Type (Multivalent, Monovalent), Disease (Pneumococcal, Flu, Hepatitis, MMR, Rotavirus, RSV, HPV, Polio), ROA (IM, SC, Oral), Competition - Global Forecast to 2031", The vaccines market (excluding COVID-19) is expected to reach USD 71.14 billion by 2031, up from USD 55.68 billion in 2026, at a CAGR of 5.0% during the forecast period. The vaccines market is experiencing steady growth, driven by increasing investment in vaccine development and the continuous introduction of new products that improve availability and access. The rising prevalence of infectious diseases worldwide continues to drive demand for effective prevention measures, while expanding immunization programs, particularly in emerging markets. Advances in vaccine technology, including mRNA platforms and innovative delivery systems, enable the development of faster and more effective solutions. Strong government support and funding remain crucial, ensuring ongoing research and large-scale immunization efforts. Additionally, the growing opportunities in therapeutic vaccines and a robust development pipeline are expected to further accelerate market growth in the coming years.
Browse 437 market data Tables and 61 Figures spread through 450 Pages and in-depth TOC on "Vaccines Market by Technology (Conjugate, Recombinant, Inactivated, Live Attenuated, mRNA), Type (Multivalent, Monovalent), Disease (Pneumococcal, Flu, Hepatitis, MMR, Rotavirus, RSV, HPV, Polio), ROA (IM, SC, Oral), Competition - Global Forecast to 2031"
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The pneumococcal disease segment accounted for the largest share of the vaccines market, by disease indication, in 2025.
By disease indication, the vaccines market is divided into pneumococcal disease, influenza, combination vaccines, HPV, meningococcal disease, herpes zoster, rotavirus, MMR, varicella, hepatitis, DTP, polio, RSV, and other disease indications (cancer, COVID-19, dengue, tuberculosis, typhoid, Japanese encephalitis, rabies, yellow fever, and allergies). In 2025, pneumococcal disease held the largest share of the vaccines market by disease indication. This significant share can be attributed to the high global burden of pneumococcal infections, especially among children under five and elderly populations, the widespread use of both pediatric and adult immunization programs, and strong government initiatives supporting routine pneumococcal vaccination in national immunization schedules across several countries. Additionally, continuous development of conjugate and polysaccharide vaccines, along with increasing awareness of pneumonia-related mortality, has strengthened the demand for pneumococcal vaccines globally.
The adult vaccines segment is estimated to register the fastest growth in the global vaccines market, by end user, during the forecast period of 2026–2031.
Based on end users, the vaccines market is divided into pediatric vaccines and adult vaccines. During the forecast period, adult vaccines experienced the fastest growth in the end user vaccines market. This rapid growth can be attributed to the rising global aging population and the higher risk of severe infectious diseases among older adults and at-risk groups. Growth is further supported by expanding recommendations for adult immunization, particularly for pneumococcal disease, influenza, RSV, herpes zoster, and booster vaccines. In addition, adult-focused vaccine categories generally command higher average selling prices than routine pediatric vaccines, which strengthens revenue growth.
The North America region accounted for the largest share of the vaccines market in 2025.
The vaccines market is divided into North America, Europe, Asia Pacific (APAC), Latin America (LATAM), the Middle East, and Africa. In 2025, North America held the largest share of the global vaccines market, thanks to its strong healthcare infrastructure, robust government immunization programs, high adoption of advanced vaccine technologies like mRNA and recombinant platforms, and the presence of leading vaccine manufacturers. Additionally, substantial R&D investments, favorable reimbursement policies, and widespread public awareness campaigns on immunization further solidified the region’s dominance. The increasing demand for both pediatric and adult vaccines, along with strong regulatory support and funding for pandemic preparedness, has also reinforced North America’s leadership in the global market.
Key players in the vaccines market include Merck & Co., Inc. (US), GSK Plc (UK), Pfizer, Inc. (US), Sanofi (France), AstraZeneca (UK), Johnson & Johnson Services Inc. (US), Emergent (US), Mitsubishi Tanabe Pharma Corporation (Japan), Serum Institute of India Pvt. Ltd (India), and CSL (Australia), among others.
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