What is the projected growth rate (CAGR) of the COVID-19 Vaccine Market from 2024 to 2031, and what is the market value expected to change by 2031?

The Global COVID-19 Vaccine Market reached US$ 13.43 billion in 2024 and is expected to reach US$ 29.98 billion by 2033, growing at a CAGR of 9.8% during the forecast period 2025-2033.

What is COVID-19 Vaccine Market?

The COVID-19 Vaccine Market represents the global landscape of vaccines developed to prevent infection from the SARS-CoV-2 virus. It includes mRNA vaccines, viral vector-based vaccines, protein subunit vaccines, and inactivated virus vaccines. The market witnessed exponential growth due to emergency use authorizations, government funding, and mass immunization programs, and continues to evolve with variant-specific boosters and combination vaccines.

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Top Key Companies:

The major global players in the COVID-19 vaccine market include Pfizer/BioNTech, Moderna, Inc., AstraZeneca., Johnson & Johnson (Janssen Scientific Affairs, LLC), SINOVAC, CanSino Biologics Inc., Novavax., Sanofi/GSK, Beijing Institute of Biological Products Co., Ltd., Serum Institute of India Pvt. Ltd., and Gamaleya Research Institute among others.

Market Segments:

COVID-19 Vaccine Market is segmented By Infection Type, By Vaccine Type, By Route of Administration, By Age Group, By End-User.

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