Vaccine Market Report 2022

Vaccine Market Report 2022

Market At-A-Glance
In 2020, the global vaccine market was valued at $35.9 billion. Fueled by the pandemic, the prevalence of other diseases, and research and development the market is expected to more than double to $83.5 billion by 2027.

The U.S. alone is projected to reach $30 billion by 2027.
Routine Vaccinations Continued To Lag In 2021. Pandemic-driven declines in routine vaccines persisted in 2021. Compared to 2019, the steepest declines occurred in commercially insured adults. Adolescent rates temporarily increased when schools reopened and related activities began, but fell again afterward. From December 2020 to July 2021, people may have missed
approximately 11.1 million doses of recommended vaccines.

U.S. Influenza Vaccine Market Estimated To Reach $7.0 Billion By 2028
The U.S. influenza vaccine market was estimated at $3.8 billion in 2021 and is expected to surpass $7.0 billion by 2028. As of February 25, 2022, 174.9 million doses of flu vaccine were distributed in the U.S. during the 2021–2022 flu season. The 2021–2022 flu season doses are expected to fall short of the previous season’s total of 193.8 million. The global influenza vaccine market is expected to rebound from the pandemic-era decline.

First COVID-19 Vaccine Approved, With More In The Pipeline
On August 23, 2021, Pfizer-BioNTech’s COVID-19 became the first COVID-19 vaccine to receive full Food and Drug Administration (FDA) approval and the first mRNA vaccine for any illness. Moderna’s COVID-19 vaccine followed on January 31, 2022 when it received full FDA approval. As of February 18, 2022, there are 339 COVID-19 vaccine candidates in development worldwide.

Increased funding, resources, and scientific interest, as well as increased manufacturing capacity and research investments by COVID-19 mRNA vaccine makers, is fueling the market for other mRNA vaccines for a wide range
of diseases.

Global Market For FDA-Approved COVID-19 Vaccines To Reach $51 Billion In 2022
Globally, sales of the two FDA-approved COVID-19 vaccines are expected to reach $51 billion, slightly less than the 2021 total of $54 billion. In 2021, Pfizer broke the record for best-selling vaccine by exceeding $36 billion in annual sales. As of February 21, 2022, 10.6 billion doses of all COVID-19 vaccines have been administered around the world. 213.95 million people in the U.S. have received a complete initial protocol.

U.S. Pediatric Vaccine Market Expected To Reach $6.64 Billion By 2027
The U.S. pediatric vaccine market was valued at $3.13 billion in 2021. The Centers for Disease Control and Prevention (CDC) increased the number of recommended childhood vaccines over the past decade, and the market is expected to reach $6.64 billion by 2027. Growth is expected despite the pandemic continuing to suppress routine childhood vaccination rates.