Vaccine Technologies Market Expected to Reach $90.6 Billion by 2033

According to a new report published by Allied Market Research, titled, “Vaccine Technologies Market," The vaccine technologies market size was valued at $48.5 billion in 2023, and is estimated to reach $90.6 billion by 2033, growing at a CAGR of 6.4% from 2024 to 2033. Vaccine technologies industry include a range of advanced platforms and methods designed to develop, produce, and deliver vaccines that protect against infectious diseases. Traditional approaches include live attenuated vaccines, which use weakened forms of pathogens to trigger an immune response, and inactivated vaccines, which contain killed pathogens or their components. Subunit and conjugate vaccines rely on specific parts of a pathogen, such as proteins or polysaccharides, to stimulate immunity. Recent innovations include nanoparticle-based vaccines, which improve antigen presentation, and thermostable vaccines, designed for enhanced distribution in low-resource settings.

Rise in demand for vaccines is a significant driver for the growth of the vaccine technologies industry. The increasing prevalence of infectious diseases such as influenza, hepatitis, and HPV has increased the need for effective vaccines to prevent outbreaks and reduce associated morbidity and mortality. Some of the commercially available vaccines are Flucelvax Quad (CSL Limited), and ProQuad/M-M-R II/Varivax (Merck & Co. Inc). Moreover, the emergence of novel pathogens and the re-emergence of previously controlled diseases have spurred governments and healthcare organizations to intensify immunization programs globally. Growing awareness of the importance of vaccination, coupled with advancements in technology such as recombinant vaccines, DNA-based vaccines, and nanoparticle delivery systems, has further contributed to the vaccine technologies market growth.

Furthermore, vaccine technologies market trends includes rise in awareness about preventive measures towards disease outbreak and vaccination initiative is expected to drive the vaccine technologies market growth. Rise in awareness about preventive measures against disease outbreaks and the growing focus on vaccination initiatives are key drivers for the growth of the vaccine technologies market. Governments, healthcare organizations, and non-profit entities are emphasizing the importance of immunization to prevent the spread of infectious diseases and reduce healthcare costs associated with treatment. For instance, in June 2024, Global Alliance for Vaccines and Immunization (GAVI), launched its hepatitis B birth dose grant programme. The programme was previously paused owing to the COVID-19 pandemic. Now, 38 countries will be able to apply for funding to introduce the hepatitis B birth dose vaccine into their immunisation programmes.

Educational campaigns and public health programs are increasingly promoting vaccines as a primary means of disease prevention, leading to greater acceptance among populations. In addition, advancements in vaccine delivery systems, such as needle-free methods and improved formulations, are enhancing patient compliance and accessibility provides vaccine technologies market opportunity. With rise in understanding of the long-term benefits of vaccination, individuals and healthcare providers are proactively participating in immunization drives, further propelling the growth during vaccine technologies market forecast period.

The vaccine technologies market size is segmented on the basis of technology, delivery method, type, and region. By technology, the market is classified into live attenuated vaccines, inactivated vaccines, recombinant, conjugate and subunit vaccines, toxoid vaccines, and others. By delivery method, it is segregated into parenteral, oral, and nasal. By type, the market is divided into monovalent vaccines, and multivalent vaccines. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of technology, the recombinant, conjugate and subunit vaccine segment was the major revenue contributor in 2023 and is expected to register the highest CAGR during the forecast period. This is attributed to safety, efficacy, and versatility in targeting a wide range of infectious diseases. Recombinant vaccines are produced using advanced genetic engineering techniques that allow the insertion of specific antigens into a host, ensuring high immunogenicity while minimizing the risks associated with live attenuated or inactivated vaccines. This makes them particularly suitable for immunocompromised individuals. Conjugate vaccines, on the other hand, have proven highly effective in combating bacterial infections by linking weak antigens to strong carrier proteins, therebyenhancing the immune response, especially in infants and children.

On the basis of delivery method, the parenteral segment dominated the vaccine technologies market share in 2023. Parenteral methods, such as intramuscular, subcutaneous, and intradermal injections, offer precise dosing, ensuring that vaccines are delivered directly into the bloodstream or tissue where they can be rapidly absorbed. This approach enhances the bioavailability of vaccines, making them more effective compared to oral or other delivery methods, particularly for critical immunization programs. In addition, parenteral delivery is preferred for most traditional and advanced vaccines, such as inactivated, and live-attenuated, which require controlled and efficient administration to achieve the desired immunogenicity.

However, the oral segment is expected to register the highest CAGR during the forecast period. This is attributed to the advancements in oral vaccine delivery systems, which offer improved patient compliance and ease of administration. In addition, growing demand for needle-free vaccination methods further supports the segment growth. Government initiatives promoting immunization programs also contribute to the segment growth.

On the basis of type, the multivalent vaccines segment dominated the vaccine technologies market share in 2023 and is expected to register the highest CAGR during the forecast period. This is attributed to their ability to target multiple strains or types of pathogens within a single formulation, significantly enhancing convenience, coverage, and cost-efficiency. Multivalent vaccines reduce the number of injections required, which improves patient compliance, particularly in pediatric immunization programs where fewer shots are preferred. In addition, multivalent vaccines are highly effective in addressing diseases with multiple strains, such as influenza, pneumococcal infections, and human papillomavirus (HPV), providing broader protection and preventing breakthrough infections.

By region, North America dominated the market share in 2023, owing to its well-established healthcare infrastructure, advanced research and development capabilities, and strong presence of key industry players. The region's significant investments in healthcare and vaccine production, along with high level of government support for immunization programs, are key factors contributing significantly in the growth of the market in North America. In addition, rise in demand for vaccines driven by concerns over infectious diseases has further boosted revenue generation in North America.

However, the Asia-Pacific region is expected to register the highest CAGR during the forecast period owing to rise in healthcare needs in emerging economies, coupled with a large, rapidly growing population. The region's focus on improving healthcare infrastructure, expanding immunization coverage, and increasing investments in vaccine R&D is driving the market growth. In addition, rise in prevalence of infectious diseases and increase in adoption of advanced vaccine technologies in countries such as China, India, and Japan are expected to fuel the market growth in the Asia-Pacific region.

Key Findings of the Study

• By technology, the recombinant, conjugate & subunit vaccine segment was the largest contributor to the market in 2023 and is expected to maintain its dominance during the forecast period.
• By delivery method, the parenteral segment dominated the market in 2023. However, the oral segment is expected to register the highest CAGR during the forecast period.
• By type, the multivalent vaccines segment was the largest contributor to the market in 2023 and is expected to maintain its dominance during the forecast period.
• By region, North America was the largest contributor to the market in 2023. However, Asia-Pacific is expected to register the highest CAGR during the forecast period.