The global vaccines market (including COVID-19 vaccines) is projected to reach USD 149.2 billion by 2026 from USD 139.4 billion in 2021 during the forecast period. The global vaccines market (excluding COVID-19 vaccines) is projected to reach USD 67.2 billion by 2026 from USD 41.4 billion in 2021, at a CAGR of 10.2% from 2021 to 2026. Market growth is largely driven by the rise of emerging and re-emerging infectious diseases, increasing company initiatives to enhance vaccine R&D, growing government support for vaccine development, and the rising focus on immunization. However, the huge capital investments required for developing vaccines and low purchasing power in developing countries may restrain the market growth.
The global vaccines market is highly competitive, owing to the presence of several large and small players. Prominent players operating in the global vaccine market include GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), Pfizer, Inc. (US), Sanofi SA (France). The key players in this market are increasingly focusing on strategic collaborations, partnerships, and product launches and approvals to expand their product and geographic footprint and increase market presence.
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GlaxoSmithKline Plc manufactures pharmaceutical products, such as vaccines, over-the-counter medicines, and health-related consumer products. The company operates through three business segments—Pharmaceuticals, Vaccines, and Consumer Healthcare. The Vaccines segment is further divided into Meningitis, Influenza, Shingles, and Established Vaccines. The Vaccines segment includes products for polio, diphtheria, tetanus, pertussis, measles, mumps, rubella, meningitis C, chickenpox, pneumococcal disease, rotavirus infection, influenza (pandemic and seasonal), HPV, hepatitis A and B, typhoid, and meningitis (A, B, C, W, and Y). GlaxoSmithKline has a wide global presence and supplies vaccines to over 120 countries across North America, South America, Europe, Asia Pacific, Africa, and the Middle East.
Merck & Co., Inc. is a global healthcare company that delivers innovative health solutions through its prescription medicines, vaccines, biologic therapies, and animal health products. The company operates through two segments—Pharmaceutical and Animal Health. The Pharmaceutical segment operates through 11 business units, namely, Oncology, Vaccines, Hospital Acute Care, Immunology, Neuroscience, Virology, Cardiovascular, Diabetes, Women’s Health, Diversified Brands, and Other Pharmaceuticals. The company offers vaccine products through the Pharmaceutical segment, which consists of preventive pediatric, adolescent, and adult vaccines. The company has its presence in 140 countries.
Vaccines Market by Technology (Recombinant, Toxoid, Conjugate, RNA), Type (Monovalent, Multivalent), Disease (Pneumococcal, Influenza, DTP, HPV, MMR, COVID-19), Route of Administration (IM, SC, Oral), End user (Pediatric, Adult) - Global Forecast to 2026
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