International Market Highlights:

In 2021, the global human vaccine market was estimated by the World Health Organization (WHO) to be valued at SAR 529 billion, with around 16 billion vaccine doses provided. This accounted for 10% of the overall pharmaceutical market, which had a value of SAR 5.29 trillion. If we exclude the COVID-19 vaccine doses, the global vaccine market value decreases to SAR 158 billion, with approximately 5.3 billion doses administered. As a result, the vaccine market represents 4% of the total pharmaceutical market.

Comparing the figures to 2019, the vaccine market showed growth in value. In 2019, it was valued at SAR 143 billion, with 5.8 billion doses administered, and accounted for 4% of the total pharmaceutical market. The differences between 2019 and 2021 can be primarily attributed to a decline in the administration of pediatric vaccines and an increase in the usage of higher-priced adult vaccines.

Global Human Vaccine Market - Major Players

According to the WHO, Pfizer had the largest market share (30%) in 2021, followed by Moderna (12%) and Sinovac (12%). Excluding COVID-19 vaccines alters the vaccine supply landscape, with Merck Sharp & Dome (MSD) gaining the largest market share (22%) followed by GSK (20%) and Sanofi (17%). The top 10 manufacturers by value, including and excluding COVID-19, are shown in the figures below:

Pfizer was also the leading manufacturer by volume (16%) in 2021, followed by Serum Institute of India (SII) (15%) and Sinovac (13%). Excluding the volume of the COVID-19 vaccine, places SII as the top manufacturer by volume (20%) followed by Sanofi (11%), Bharat Biotech (BBIL) (7%) and GSK (7%). The top 10 manufacturers by volume, including and excluding COVID-19, are shown in the figures below:

Excluding COVID-19 vaccines, the top manufacturers in terms of both value and volume are Serum Institute of India (SII), China National Biotechnology Group (CNBG), Sanofi, GSK, Merck Sharp & Dome (MSD), and Pfizer. These manufacturers have consistently maintained their positions in the top 10 since 2019 and continue to dominate the global market in terms of market value and volume. Despite the emergence of new players in the global vaccine market during the COVID-19 pandemic, the industry remains highly concentrated and reliant on a small number of manufacturers.

Out of the 94 manufacturers distributing human vaccines to WHO Member States, the majority were located in the WHO Western Pacific region (41%), followed by the WHO European region (21%), and the WHO Americas region (17%). However, the Eastern Mediterranean region, which includes 22 countries including Saudi Arabia, had a significantly lower number of manufacturers, accounting for only 7% of the total 94 manufacturers.