Vaccine Market Poised For Growth

Vaccines dominated conversations as the race to create defenses against deadly COVID-19 variants encompassed the globe. Now that new, highly effective COVID-fighting vaccines are widely available throughout the U.S., it’s a good time to pause and review the vaccine market today with a look ahead.

In 2021, the COVID-19 vaccine market is expected to hit an estimated $40 billion in global sales
Pfizer and Moderna, the makers of the two mRNA COVID-19 vaccines, together are expected to reap $28 billion in 2021 sales

In 2020, the U.S. vaccine market was valued at about $18 billion and projected to reach $25.5 billion by 2024. The COVID vaccine market is projected to add $10 billion annually to the U.S. market.

U.S. Vaccine Market Value in Billions

Markets in the U.S. and globally are expanding partly thanks to growing public awareness of preventable diseases and an increase in government initiatives to develop new vaccines, according to research in HIDA’s new Vaccine Market Report.

Messenger RNAs Join The Stable Of Effective Vaccines

While mRNA vaccines stayed in the headlines last year for their new approach to fighting viruses such as COVID-19, there are many different types of effective vaccines.

Major Vaccines By Type
Live Attenuated (LAV):
  • Tuberculosis (BCG)
  • Oral Polio Vaccine (OPV)
  • Measles
  • Rotavirus
  • Yellow Fever
Inactivated (Killed Antigen):
  • Whole-Cell Pertussis (wP)
  • Inactivated Polio Virus (IPV)
Subunit (Purified Antigen):
  • Acellular Pertussis (aP)
  • Haemophilius Influenzae Type B (Hib)
  • Pneumococcal (PCV-7, PCV-10, PCV-13)
  • Hepatitis B (HepB)
Toxoid (Inactivated Toxins):
  • Tetanus Toxoid (TT)
  • Diphtheria Toxoid
The Pfizer and Moderna COVID-19 vaccines are the only mRNA vaccines currently licensed in the U.S., but many more are in early stage clinical trials to combat viruses such as influenza, Zika, and rabies.

Understanding Messenger RNA (mRNA) Vaccines

  • mRNA vaccines are a new type of vaccine to protect against infectious diseases
  • To trigger an immune response, many vaccines put a weakened or inactivated germ in a body, but not mRNA vaccines. They teach cells how to make a protein — or even just a piece of a protein — that triggers an immune response inside the body
  • That immune response produces antibodies, which offer protection from getting infected if the real virus enters a body
Source: CDC. 2021

How The mRNA COVID-19 Vaccine Works

How The mRNA COVID-19 Vaccine Works

New Vaccines Cost Up To $500 Million To Develop
Developing a new vaccine can cost $200–$500 million and take more than 10 years to get to market. In 2020, there were more than 2,600 vaccines being investigated for infectious diseases including COVID-19, HIV, respiratory syncytial virus, and dengue fever.

The Vaccine Life Cycle

Vaccines Can Help Alleviate Or Prevent Many Diseases.
Here Are Snapshots Of Some Of The Largest Vaccine Markets

Global Cancer Vaccine Market In Billions
Reasons For Growth
  • Rising number of cancer cases
  • Increasing government funding
  • Developing technology
Source: BioSpace. The Future Of Cancer Treatment Lies In Vaccines, Say These Pioneers. January 20, 2021

Influenza Vaccine Market In Billions
Key Characteristics Of The 2020–2021 Flu Season
  • Lowest hospitalization rate for any flu season since 2005
  • 1 pediatric death vs. 188 during the 2019–2020 season
  • Vaccination rates increased
  • Vaccine makers expect to supply as many as 198 million doses of the flu vaccine
  • As of January 2021, 193.8 million doses had been distributed
Source: Coherent Market Insights. U.S. Influenza Vaccine Market to Surpass US $8.5 Billion By 2027. April 6, 2020, CDC

Global Sales Of HPV Vaccines In Billions
3 HPV Vaccines With Nearly 100% Effectiveness Are Approved In The U.S.
  • Gardasil 9 (Merck) The only HPV vaccine being distributed in the U.S.
  • Gardasil (Merck)
  • Cervarix (GSK)
Source: Forbes. Merck’s Leadership In HPV Vaccines Market. September 26, 2019

Global Sales Of Meningococcal Vaccines In Billions
6 Different Vaccines Are Available In The U.S.
  • Menomune (Sanofi Pasteur)
  • Menactra (Sanofi Pasteur)
  • Menveo (GSK)
  • MenQuadfi (Sanofi Pasteur)
  • Trumbenba (Wyeth, Pfizer)
  • Bexsero (Novartis)
Source: Allied Market Research. Meningococcal Vaccine Market By Serogroup (MenACWY, Men B/BC, MenC, MenAC, and MenA), Vaccine type (Conjugate, Polysaccharide, And Subcapsular), And End User (Pediatric, Adults, And Travelers): Global Opportunity Analysis And Industry Forecast, 2018-2026. 2020
Beginning in early October, information on manufacturers and distributors who still have flu shots available for sale to clinicians can be found at

This article appears in the July/August 2021 issue of HIDA’s bimonthly member magazine, Healthcare Distribution & Supply Chain™.