Vaccines Market

Vaccines Companies - GSK Plc (UK), Merck & Co., Inc. (US) and Pfizer Inc (US) are the Key Players

The vaccines market (including COVID-19 vaccines)  is projected to reach USD 94.9 Billion by 2029 from USD 78.0 Billion in 2024, at a CAGR of 4.0% during the forecast period. Similarly the vaccines market (excluding COVID-19 vaccines) is projected to reach USD 80.3 Billion by 2029 from USD 53.0 Billion in 2024, at a CAGR of 8.7% during the forecast period. Technological advancements in vaccine development, increasing government initiatives for immunization programs and expanding investments in research and development are some of the factors driving growth of vaccines market.

The vaccines market is highly competitive.

Major Vaccines Market Companies include:

  • GSK plc (UK),
  • Merck & Co. Inc (US),
  • Pfizer Inc (US),
  • Sanofi (France),
  • Johnson and Johnson Services, Inc. (US),
  • AstraZeneca (UK),
  • Serum Institute of India Pvt Ltd (India),
  • Bavarian Nordic (Denmark),
  • Mitsubishi Tanabe Pharma Corporation (Japan),
  • Daiichi Sankyo Company, Limited (Japan), and among others.

The key players of this market are mostly focusing on collaborations, acquisition, partnerships, agreement, expansion and advancements in vaccines technology.

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GSK Plc (UK):

GlaxoSmithKline (GSK) is a prominent player in the global vaccines market, boasting a diversified portfolio of preventive healthcare solutions. With a legacy of pioneering vaccine research and development, GSK boasts a diverse portfolio encompassing vaccines for various infectious diseases, including influenza, meningitis, hepatitis, and human papillomavirus (HPV). For instance in 2023, GSK plc (UK) received approval from the Medicines and Healthcare products Regulatory Agency for Arexvy, the first Respiratory Syncytial Virus (RSV) vaccine for active immunization for the prevention of Lower Respiratory Tract Disease (LRTD) caused by respiratory syncytial virus (RSV) in adults 60 years of age and older. In order to strengthen presence in key markets globally company establishes partnerships with local governments, healthcare providers, and distribution networks.

Merck and Co Inc (US):

Merck and Co. Inc. (US) held strong position in vaccines market in 2023. The company has strong product portfolio in vaccines and Merck emphasizes collaboration and partnerships with governments, non-profit organizations, and global health initiatives to improve vaccine access and affordability, particularly in underserved regions. By investing in manufacturing capabilities and supply chain infrastructure, Merck ensures the reliable production and distribution of vaccines to meet global demand. For instance, in 2023, Merck & Co Inc. (Germany) received approval from the European Commission (EC) for an expanded indication for ERVEBO [Ebola Zaire Vaccine, (rVSVΔG-ZEBOV-GP) live] for active immunization of individuals 1 year of age or older to protect against Ebola Virus Disease (EVD) caused by Zaire ebolavirus. Moderna (US), Themis Bioscience GmbH (Austria), Pfizer (US) are some of the major partners of the company.

Pfizer Inc (US):

Pfizer (US) is also one of the key market player in the vaccines market. The majorly company focuses on both organic & inorganic growth strategies, i.e., product launches, agreements, collaborations and partnerships to strengthen its market dominance. In 2023,  Pfizer Inc (US) and BioNTech (Germany) received approval from the US FDA for the 2023-2024 COVID-19 vaccine for the prevention of coronavirus for individuals 12 years and older and emergency use of authorization for individuals 12 years and older.

Global Vaccines Manufacturers

Here are some key manufacturers in the global vaccines industry:

  • Moderna, Inc. (United States),
  • AstraZeneca / Oxford University (United Kingdom),
  • Johnson & Johnson / Janssen Pharmaceuticals (United States / Belgium),
  • Sinovac Biotech Ltd. (China),
  • Sinopharm Group Co., Ltd. (China),
  • Bharat Biotech International Limited (India),
  • Novavax, Inc. (United States), and among others.

These manufacturers are at the forefront of developing and producing vaccines not only for COVID-19 but also for a range of other infectious diseases, playing a crucial role in public health initiatives globally.

Moderna, Inc. (United States):

Moderna, Inc. developed another mRNA-based COVID-19 vaccine, known as mRNA-1273. Similar to Pfizer-BioNTech's vaccine, Moderna's vaccine showed high efficacy in clinical trials and received emergency use authorization for COVID-19 prevention. Moderna is actively involved in scaling up vaccine manufacturing and expanding global access to its COVID-19 vaccine.

AstraZeneca / Oxford University (United Kingdom):

AstraZeneca, in collaboration with the University of Oxford, developed a viral vector-based COVID-19 vaccine called AZD1222 or Vaxzevria. This vaccine is based on a chimpanzee adenovirus vector and has been authorized for emergency use in many countries. AstraZeneca has committed to providing broad and equitable access to its COVID-19 vaccine globally, particularly to low- and middle-income countries.

Johnson & Johnson / Janssen Pharmaceuticals (United States / Belgium):

Johnson & Johnson, through its subsidiary Janssen Pharmaceuticals, developed a viral vector-based COVID-19 vaccine known as Ad26.COV2.S or Janssen COVID-19 Vaccine. This single-dose vaccine received emergency use authorization for COVID-19 prevention and is an important addition to global vaccination efforts, particularly in regions with logistical challenges.

Sinovac Biotech Ltd. (China):

Sinovac Biotech Ltd. developed an inactivated virus-based COVID-19 vaccine called CoronaVac. This vaccine has been widely used in several countries and has received emergency use authorization for COVID-19 prevention. Sinovac continues to expand its manufacturing capacity to meet global demand for COVID-19 vaccines and contribute to pandemic control efforts.

Sinopharm Group Co., Ltd. (China):

Sinopharm Group Co., Ltd. developed an inactivated virus-based COVID-19 vaccine known as BBIBP-CorV or Sinopharm COVID-19 Vaccine. This vaccine has been authorized for emergency use in many countries and is an essential tool in global vaccination campaigns against COVID-19. Sinopharm is actively involved in vaccine production and distribution worldwide.

Bharat Biotech International Limited (India):

Bharat Biotech International Limited developed a whole-virion inactivated COVID-19 vaccine called Covaxin. This vaccine has been authorized for emergency use in India and several other countries. Bharat Biotech is committed to increasing vaccine production capacity and supporting global efforts to combat the COVID-19 pandemic.

Novavax, Inc. (United States):

Novavax, Inc. developed a protein subunit-based COVID-19 vaccine known as NVX-CoV2373. This vaccine demonstrated high efficacy in clinical trials and is awaiting regulatory authorization in various countries. Novavax is ramping up manufacturing capacity to meet global demand for its COVID-19 vaccine and contribute to vaccination efforts worldwide.

Related Reports:

Vaccines Market by Technology (Conjugate, Recombinant, Live Attenuated, Toxoid, Viral Vector, mRNA), Type (Monovalent, Multivalent), Disease (Pneumococcal, Flu, HPV, Herpes Zoster, MMR, Rotavirus, RSV), Route of Administration - Global Forecast to 2029

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Vaccines Market Size,  Share & Growth Report
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