Global Vaccine Market Exceeds $200 Billion: Kalorama Information Report

Kalorama Information's new report estimates total sales earned by vaccine manufacturers such as Astra Zeneca, Pfizer, Moderna and Glaxo and others, and projects revenues in various vaccine product segments to 2027.

ARLINGTON, Va., Oct. 6, 2022 /PRNewswire-PRWeb/ -- In 2022, the global market for vaccines is estimated to reach $202.6 billion. COVID-19 vaccines represent roughly two thirds of these revenues, according to Kalorama Information's just-published market research report "The 2022 World Market for Vaccines".

Kalorama's report estimates total sales earned by vaccine manufacturers such as Astra Zeneca, Pfizer, Moderna and Glaxo and others, and projects revenues in various vaccine product segments to 2027. Arlington, Virginia-based Kalorama publishes reports in vaccines, devices and IVD. Companies use the Kalorama reports to benchmark market share, and investors and investment firms use reports to assess companies.

Exceeding two hundred billion dollars is significant when one considers this is up overall from $34.1 billion in 2017.

"COVID-19, Hepatitis and Shingles lead revenues, and these are adult vaccines." said Bruce Carlson, Senior Vice President for Science and Medicine Group, owner of Kalorama Information. "Just six years ago the market was lead by pediatric vaccines but there was a trend even before COVID-19 toward adult vaccination."

Infectious diseases are some of the deadliest diseases that pose significant risk to human life. Since the advent of the pandemic, scientists around the world have stepped up research and development of preventative vaccines that will hopefully be able to combat existing and new infectious disease threats.

Sales increased from $127.6 billion in 2021 to an estimated $202.6 billion in 2022.

Sales of adult vaccines are expected to increase at a faster pace than pediatric vaccines over the forecast period of this report, at 13% and 7% per year, respectively. Growth is largely supported by continued steady demand for booster doses in developed markets – namely United States, Western Europe, Australia and Japan – while the developing world continues to increase vaccine access and complete initial vaccine series and continued booster doses.

Through 2027, the report says growth will be fueled by favorable demographics (population growth, rising life expectancy), continued new product introductions, indication expansions for some products and rising usage, particularly in China and India. Markets outside the European and U.S. segments continue to grow, largely due to COVID-19 vaccination programs.

The report forecasts five years of COVID-19 and sees no reason to discontinue forecasts. As Kalorama has indicated with COVID-19 testing markets all projections from academics are that the disease will be part of life for the next few years at least, requiring testing and vaccination to continue.

However the report urges that mitigating against growth will be continuing concerns about vaccine safety, availability in developing countries and refusal to immunize. According to the CDC, vaccination rates for adults for both COVID and influenza significantly lag goals.

Competition in the market has increased over the years. Companies that compete in the vaccine market include Astra Zeneca, Pfizer, Moderna and Glaxo CSL, Johnson and Johnson, Dynavax, Inovio, Novavax, Merck & Co, Inc., Sanofi Pasteur, Bharat Biotech, and Takeda, among others.

Media Contact

DANIEL GRANDERSON, Kalorama Information, (703) 783-1721, daniel.granderson@kaloramainformation.com

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SOURCE Kalorama Information