China Vaccine Market Size & Outlook, 2023-2030
China vaccine market, 2018-2030 (US$M)
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China vaccine market highlights
- The China vaccine market generated a revenue of USD 5,801.3 million in 2023 and is expected to reach USD 6,651.2 million by 2030.
- The China market is expected to grow at a CAGR of 2% from 2024 to 2030.
- In terms of segment, subunit vaccines was the largest revenue generating type in 2023.
- Subunit Vaccines is the most lucrative type segment registering the fastest growth during the forecast period.
Vaccine market data book summary
| Market revenue in 2023 | USD 5,801.3 million |
| Market revenue in 2030 | USD 6,651.2 million |
| Growth rate | 2% (CAGR from 2023 to 2030) |
| Largest segment | Subunit vaccines |
| Fastest growing segment | Subunit Vaccines |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Subunit Vaccines, Inactivated, Live Attenuated, MRNA vaccines, Viral vector vaccines |
| Key market players worldwide | Serum Institute of India Pvt. Ltd., CSL Ltd, Sanofi SA, GSK PLC, Merck & Co Inc, Pfizer Inc, Sinovac Biotech Ltd, BioNTech SE ADR, AstraZeneca PLC, Moderna Inc |
Other key industry trends
- In terms of revenue, China accounted for 7.6% of the global vaccine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China vaccine market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 5,363.6 million by 2030.
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Vaccine Market Scope
Vaccine Market Companies
| Name | Profile | # Employees | HQ | Website |
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China vaccine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to vaccine market will help companies and investors design strategic landscapes.
Subunit vaccines was the largest segment with a revenue share of 34.12% in 2023. Horizon Databook has segmented the China vaccine market based on subunit vaccines, inactivated, live attenuated, mrna vaccines, viral vector vaccines covering the revenue growth of each sub-segment from 2018 to 2030.
China is one of the major pharmaceutical markets in APAC, and its growth is driven by the local presence of a large number of vaccine manufacturers, favorable government initiatives, and high disease burden due to its large population. In addition, a supportive regulatory framework and high demand for innovative vaccines are expected to offer lucrative growth opportunities.
For instance, in May 2022, vaccine producer China National Biotec Group announced that its influenza vaccine, developed at its research center in Shanghai, was approved by the Chinese regulatory authorities.
This newly approved vaccine can protect against COVID-19 and influenza strains. In June 2020, Sinovac Biotech Ltd. announced that the NMPA issued a product license for its quadrivalent flu vaccine. The QIV vaccine contains two B strains & two A strains and can protect children older than 3 years from influenza.
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Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of China vaccine market databook
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Our clientele includes a mix of vaccine market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the China vaccine market , including forecasts for subscribers. This country databook contains high-level insights into China vaccine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China vaccine market size, by type, 2018-2030 (US$M)
China Vaccine Market Outlook Share, 2023 & 2030 (US$M)
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