Leading Players in the Vaccines Market - Merck & Co. Inc (US) and Pfizer Inc (US)
The vaccines market (excluding COVID-19) is projected to reach USD 67.91 billion by 2030 from USD 47.65 billion in 2025, at a CAGR of 7.3% during the forecast period. An increase in investments in vaccine development, a subsequent rise in product launches, technological advancements in vaccine development, and the growing prevalence of infectious diseases are key factors expected to drive market growth.
The vaccines market is consolidated. The major players operating in this market include GSK plc (UK), Merck & Co., Inc. (US), Pfizer Inc (US), Sanofi (France), CSL (Australia), Emergent (US), Johnson & Johnson Services, Inc. (US), AstraZeneca (UK), Serum Institute of India Pvt Ltd (India), Bavarian Nordic (Denmark), Mitsubishi Tanabe Pharma Corporation (Japan), and Daiichi Sankyo Company, Limited (Japan), among others. The key players in this market are primarily focusing on collaborations, acquisitions, partnerships, agreements, expansion, and advancements in vaccine technology.
Merck & Co. Inc (US)
The company emphasizes the development of technologically advanced vaccines to sustain ongoing demand for its diverse product lineup. It also pursues both organic and inorganic growth strategies to uphold its market position. The acquisition of Themis Bioscience GmbH and Immune Design Corp. is a key strategic move to strengthen its stance in the vaccines market. Merck’s vaccines division generated substantial revenue in 2024, with the highly popular GARDASIL/GARDASIL 9 vaccine, making Merck one of the top vaccine brands worldwide.
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Pfizer Inc (US)
Pfizer Inc. (US) is another leading player in the vaccines market. The company emphasizes its R&D capabilities to develop a pipeline of highly differentiated medicines and vaccines. Collaborations in industry for developing new vaccines are likely to positively influence the market position of the company.
Market Ranking
The vaccines market is consolidated, with the top four players collectively holding approximately 70-75% of the total market share. Merck & Co. Inc. (US) maintains a dominant position, supported by its extensive product portfolio and strategic expansion of supply and facilities. The company opened a new vaccine facility in Durham, North Carolina, in 2025, and has previously expanded to boost HPV vaccine production. GSK plc (UK) and Pfizer Inc (US) have also captured significant market portions by focusing on strong research and development efforts aimed at launching innovative vaccines. The rapid growth potential in the Asia Pacific and Latin American regions offers strategic opportunities for these companies to expand their operations and capitalize on emerging market trends. Regional and emerging players hold the remaining 25-30% of the market, leading to significant consolidation.
Related Reports:
Vaccines Market by Technology (Conjugate, Recombinant, Inactivated, Live Attenuated, Viral Vector, mRNA), Type (Monovalent, Multivalent), Disease (Pneumococcal, Flu, Hepatitis, MMR, RSV), Route of Administration (IM, SC, Oral)-Global Forecast to 2030
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