The size of the global vaccine contract manufacturing market is estimated to be worth USD 1731.2 million by 2029 from USD 1162 million in 2024. It is expected to rise at a CAGR of 8.3% during the forecast period.
A vaccine is a biological element prepared to assist a person's immunity against one or several diseases. Contracted Vaccine manufacturing establishment has higher qualitative and quantitative controlling standards with a significant margin of fixed costs, and production & development linked difficulties have limited competition between vaccine manufacturers.
The growing demand levels for vaccines and the growing incidence of infectious diseases are expected to result in the growth of the vaccine contract manufacturing market. For instance, the recent COVID-19 pandemic had a significant favorable impact on the growth of the vaccine contract manufacturing market. Governments of various nations made significant efforts to vaccinate the population of the countries to limit the spread of the virus and control the death rate from the coronavirus, which led to the growing demand for CMOs to accelerate the production of vaccines that meet the required level. In addition, diseases such as Zika and Ebola are contributing to the growing demand for vaccines, which is providing a growth opportunity to the contract manufacturing organizations as pharmaceutical companies are very interested in outsourcing the manufacturing activities of the vaccines to emphasize their core competencies and stay up to the date with the growing demand for vaccines. According to the International Federation of Pharmaceutical Manufacturers and Association (IFPMA), in 2020, research-based pharmaceutical industries have been engaged by 2 million and above for research and development and offer medicines that advance their lives globally. As a result, the demand for contract manufacturing is increasing significantly, which drives market growth globally.
In addition, factors such as the YOY growth in chronic disease incidence, growing adoption of technological advancements, regulatory support, and the emergence of new diseases further propel the global vaccine contract manufacturing market growth. Furthermore, the growing number of infectious diseases such as COVID-19 and hepatitis B accelerates the global vaccine contract manufacturing market growth rate. In addition, rising awareness levels regarding vaccine advantages among developed countries are expected to impact the vaccine contract manufacturing market growth positively.
Issues associated with the manufacturing setups and vaccine production hinder the growth of the global vaccine contract manufacturing market. In addition, the costs associated with the vaccination and patent expiration may negatively impact the market growth during the forecast period. Furthermore, strict regulatory guidelines and prominent rigid price, production, and advancements-related hurdles have an incomplete contest between vaccine manufacturers.
The novel coronavirus (COVID-19) has positively impacted global vaccine contract manufacturing market growth. The pharmaceutical companies have recognized 42 contract manufacturing service terms and conditions for 26 sequences of COVID-19 vaccines. In March 2020, LabCorp introduced the NAA test to identify coronavirus in the United States. The NAA test is coupled with patient care, and the virus is to spread continuously. The industry concentrates on novel drug discovery, test kits, and advancing vaccines and treatments for COVID-19 across the Covance Drug Development business to develop patients' health and lives. Continuously growing COVID-19 cases worldwide have opened new growth possibilities to the CMOS as the number of outsourcing arrangements with vaccine developers increases. During the forecast period, the vaccine contract manufacturing market is anticipated to have a promising CAGR.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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Segments Covered |
By Service Type, Product Type, Vaccine Type, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis; Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa |
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Key Market Players |
Thomas Jefferson University, Goodwin Biotechnology Inc., BioMARK, Emergent BioSolutions, Soligenix Inc., Catalent Biologics, Minneapolis Medical Research Foundation (MMRF), Bavarian Nordic A/S, and FUJIFILM Diosynth Biotechnologies. |
The entire finish segment is expected to account for the most significant global vaccine contract manufacturing market share during the forecast period. The growing preference of pharmaceutical companies towards full-finished vaccine manufacturing from outsourcing companies is one of the major factors promoting the segment’s growth rate. In this process, the outsourcing companies are responsible for the entire vaccine manufacturing process, including the early stages of vaccine development, clinical testing, filling, finishing, and packaging. In addition, the benefits associated with the fill-finish vaccine manufacturing further contribute to the segment's growth.
The single vaccine product type is more familiar in the vaccine contract manufacturing market, leading to the segment's domination. In most cases, pharmaceutical companies approach and make agreements with CMOs for single vaccine requirements. The growing prevalence of diseases is one factor that propels the segment’s rise. In addition, the cost and efficiency of producing a single vaccine are accelerating the segment's growth rate. Therefore, during the forecast period, the occupancy of the single vaccine segment in the global vaccine contract manufacturing market is expected to increase.
The live attenuated vaccines segment is estimated to grow at a substantial CAGR based on the vaccine type during the forecast period. In addition, due to many licensed oral or intranasal administration products, the segment's growth can induce appropriate handling circumstances for preservation.
The inactivated vaccines segment was the market leader in 2023. These vaccines are protective and relatively more stable than other types.
The subunit vaccines segment is predicted to register a stable growth rate during the forecast period due to continuous research to develop re-combination subunit vaccines opposing the Hepatitis C virus.
North America held the most significant share of the global market in 2023 and the region’s dominance is anticipated to continue throughout the forecast period. North America takeovers the global market, having the existence of many contract manufacturing organizations (CMOS). About 40 CMOs are present in diverse locations in the U.S. During the forecast period, the North American market is expected to be dominated by the United States owing to the presence of numerous key market participants and well-established healthcare infrastructure. On the other hand, the Canadian market is estimated to register a healthy CAGR during the forecast period.
During the forecast period, Europe is expected to have decent occupancy in the global market. The European region is another hot spot for vaccine contract manufacturing worldwide, with about 20 CMOs in Germany, the U.K., and France. Between 2021 and 2026, the European market is predicted to grow at a staggering CAGR of 7.3%. Again, the UK and Germany are anticipated to register the most significant share in this region.
The Asia-Pacific is predicted to expand at a high growth rate throughout the forecast period due to the rapidly growing economies of India and China. During the forecast period, the APAC region is expected to establish itself as the most lucrative regional market worldwide. Better infrastructure in various APAC countries is predicted to encourage the growth rate of this regional market. India and China will showcase healthy growth rates during the forecast period.
Latin America is forecasted to grow steadily in the coming years. Brazil and Mexico lead the Latin American region during the forecast period. MEA is expected to hold a moderate global market share during the forecast period.
Some of the key competitors in the global vaccine contract manufacturing market profiled in this report are Thomas Jefferson University, Goodwin Biotechnology Inc., BioMARK, Emergent BioSolutions, Soligenix Inc., Catalent Biologics, Minneapolis Medical Research Foundation (MMRF), Bavarian Nordic A/S, and FUJIFILM Diosynth Biotechnologies.
Key market participants are expected to implement business expansion strategies and acquire new entrants during the forecast period to secure their leading position.
By Service Type
By Product Type
By Vaccine Type
By Region
Frequently Asked Questions
The global vaccine contract manufacturing market size was worth USD 915 million in 2021.
Yes, we have studied and included the COVID-19 impact on the global vaccine contract manufacturing market in this report.
The North American region had the largest share of the vaccine contract manufacturing market in 2021.
Thomas Jefferson University, Goodwin Biotechnology Inc., BioMARK, Emergent BioSolutions, Soligenix Inc., Catalent Biologics, Minneapolis Medical Research Foundation (MMRF), Bavarian Nordic A/S, and FUJIFILM Diosynth Biotechnologies are some of the notable companies in the vaccine contract manufacturing market.
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