Immunization saves an estimated 4.4 million lives a year, helping children survive and thrive,
benefiting a wider community.
Public Health
• Vaccination saves an estimated 4-5 million lives each year and an additional 1.5 million are avoidable2
• Vaccines protect the whole community via herd immunity
- In terms of dollars, following is the market size after Covid years. In 2023, ~USD 80 billion. Pre-Covid, $40 billion market.
- In terms of Volume, SII is the largest player (India govt). But in value, Pfizer.
- One of the chart is worth studying in detail - the top 20 vaccines, and their supply dynamics.
The Expanded Programme on Immunization is a global health initiative launched by the World Health Organization in May 1974, with the aim to make vaccines available to all globally
Vaccination has been one of the most impactful public health interventions of the past century.
The global vaccines market size reached USD 86.35 billion in 2024 and is predicted to hit around USD 161.4 billion by 2034, growing at a notable CAGR of 6.45%. Adult vaccination, including those for COVID-19, comprised 75% in terms of volume globally, while pediatric vaccines accounted for the remaining market share
The vaccines market stands as a testament to medical science's ability to prevent disease and save lives on a global scale. With continued innovation, investment, and commitment to public health, the industry is well-positioned to address emerging health challenges and contribute to a healthier future for global populations
Globally, approximately 132 million babies are born each year,
Total global market
volumes were approximately 7 billion doses in 2023,
almost half of the 2022 volumes, a notable decrease due
to reduced purchases of COVID-19 vaccines. In total, 50%
of volumes were accounted for by three vaccines: oral
polio (OPV), COVID-19 and seasonal influenza vaccines.
The global vaccine market remains highly concentrated between a limited number of manufacturers, with the largest 10 manufacturers accounting for 73% of vaccine dose volumes and capturing 85% of global financial value. More than 90 manufacturers account for the remaining global volumes. Manufacturers affiliated with the Developing Country Vaccine Manufacturers Network (DCVMN) sold more than 50% of vaccine doses procured globally, representing 11% of the global financial value, while manufacturers affiliated with the International Federation of Pharmaceutical Manufacturers
& Associations (IFPMA) accounted for approximately 85% of financial value, representing 34% of total volume.
The global vaccine market size in 2023 was seven billion
doses (Fig. 1a), corresponding to a financial valuea
of US$
77 billion (Fig. 1b), defined as the volume multiplied by the
acquisition cost/price of the vaccine by the end purchaser.
This number corresponds to approximately 5% of the total
pharmaceutical market revenue measured in US$ in 2023.
(5) The market size fell by US$ 47 billion (corresponding to
a volume of 6 billion doses) compared with 2022, almost
entirely resulting from the purchase of fewer COVID-19
vaccine doses.
