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Vaccine Contract Manufacturing Market Trends

Report ID: GMI9726
Published Date: Jun 2024
Report Format: PDF

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Vaccine Contract Manufacturing Market Trends

Rising demand for vaccines is significantly driving the growth of market. Public health initiatives by governments and health organizations aim to improve vaccination coverage to prevent infectious diseases, reduce healthcare costs, and enhance overall public health outcomes. Programs targeting diseases such as influenza, HPV, hepatitis, and, most notably, COVID-19 have underscored the importance of widespread vaccination, leading to heightened production needs.
Furthermore, an aging global population, more susceptible to infectious diseases, increases the need for vaccines tailored to older adults, such as those for influenza, pneumococcal infections, and shingles.
These factors collectively drive the demand for vaccines, compelling manufacturers to seek efficient and scalable production solutions, often through contract manufacturing organizations (CMOs) that can provide the necessary capacity and expertise.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Vaccine contract manufacturing market size was USD 2.7 billion in 2023 and is expected to register 11% CAGR from 2024-2032 owing to the need for cost efficiency and specialized expertise worldwide.

The attenuated segment held 30.1% share in 2023 and is expected to register a commendable CAGR from 2024-2032 due to its strong efficacy and the ability to induce both cellular and humoral immunity.

North America vaccine contract manufacturing industry reached USD 1.1 billion in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to presence of well-developed pharmaceutical industry in the region.

Catalent, Inc, Fujifilm Holdings Corporation, Goodwin Biotechnology Inc., Gedeon Richter (Richter-Helm BioLogics), ICON PLC, IDT Biologika GmbH, Lonza Group AG, Recipharm AB, and Syngene International Limited, are some of the major vaccine contract manufacturing companies worldwide.