US Vaccines Market worth US$38.44 billion by 2029 with 8.2% CAGR | MarketsandMarkets™
DELRAY BEACH, Fla., March 25, 2025 /PRNewswire/ -- The US Vaccines Market, (excluding COVID-19 vaccines), valued at US$25.98 billion in 2024, is forecasted to grow at a robust CAGR of 8.2%, reaching an impressive US$38.44 billion by 2029.The growth in the US vaccines market is fueled by various factors such as launch of RSV vaccines, increasing investments by government and non-government organizations for vaccine development and increasing R&D investments by market players.
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By Based on technology, the US vaccines market (excluding COVID-19 vaccines) is segmented into recombinant vaccines, conjugate vaccines, live attenuated vaccines, toxoid vaccines, inactivated & subunit vaccines, and other vaccine technologies. In 2023, conjugate vaccine segment dominated the US vaccine market. Rising awareness and preventive healthcare initiatives, increasing pediatric immunization programs, and favorable government & regulatory environments have further bolstered the prominence of conjugated vaccines.
By Based on disease indication, the US vaccines market (excluding COVID-19 vaccines) is segmented into, influenza, combination vaccines, pneumococcal disease, HPV, meningococcal disease, herpes zoster, rotavirus, MMR, varicella, hepatitis, DTP, polio, RSV and other disease indications. RSV vaccine segment is likely to grow at faster CAGR during the forecast period of 2024-2029. Growing investments in vaccine R&D and novel technologies coupled with high disease burden among infants and older adults has fueled demand for RSV vaccines.
By Based on type, the US vaccines market (excluding COVID-19 vaccines) is segmented into monovalent and multivalent vaccines. Multivalent vaccines segment is likely to grow at faster CAGR during the forecast period of 2024-2029. Advancements in recombinant and conjugate vaccine technologies and increased investment by pharmaceutical companies in R&D for next-generation multivalent vaccines has fueled demand for multivalent vaccines.
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The US vaccines market is consolidated, with a small number of players competing for market share. Merck & Co., Inc (US) Pfizer Inc. (US), Emergent (US), Johnson & Johnson Services, Inc (US), Novavax, Inc. (US), Inovio Pharmaceuticals (US), VBI Vaccines (US) and among others are some of the leading players in this market. Most companies in the market focus on organic and inorganic growth strategies, such as product launches, expansions, acquisitions, partnerships, agreements, and collaborations, to increase their product offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the US market.
Study Coverage:
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges influencing the growth of the US vaccines market. The market also covers the impact of the recession. A detailed analysis of the key industry players has been done to provide insights into their business overviews; key strategies; acquisitions, new product launches, expansions, agreements, and recent developments associated with the US vaccines market.
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