Saudi Arabia Vaccine Market Size & Outlook, 2023-2030
Saudi Arabia vaccine market, 2018-2030 (US$M)
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Saudi Arabia vaccine market highlights
- The Saudi Arabia vaccine market generated a revenue of USD 616.7 million in 2023 and is expected to reach USD 875.8 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 5.1% 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 616.7 million |
| Market revenue in 2030 | USD 875.8 million |
| Growth rate | 5.1% (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, Saudi Arabia accounted for 0.8% 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 Middle East & Africa, South Africa vaccine market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 483.1 million by 2030.
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Vaccine Market Scope
Vaccine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia 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 Saudi Arabia 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.
Despite having a low local output of branded drugs relative to generic products, Saudi Arabia has the largest pharmaceutical market in the Middle East and African region. Moreover, the country is experiencing an increased prevalence of influenza.
According to the Saudi Ministry of Health, seasonal influenza causes a variety of complications, the most serious of which are bronchitis, pneumonia, blood poisoning, ear infection, and death. As a result, in October 2022, the Ministry of Health launched an awareness campaign to encourage seasonal influenza vaccination, focusing on groups most vulnerable to it, such as the elderly, people with chronic diseases or immunodeficiency, healthcare workers, and pregnant women.
The ministry emphasized that vaccination is safe, has few adverse effects, and has been proven to be effective around the world. Such initiatives are expected to increase vaccination rates in the country and propel the market growth.
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Target buyers of Saudi Arabia 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 Saudi Arabia vaccine market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia vaccine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia vaccine market size, by type, 2018-2030 (US$M)
Saudi Arabia Vaccine Market Outlook Share, 2023 & 2030 (US$M)
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