2023 Vaccine Market Report
The U.S. vaccine market is valued at $23.8 billion in 2023 and is projected to increase 47% to $35.1 billion in 2030. The growth of the vaccine market is driven largely by the commercialization of the COVID-19 vaccine and the development of new innovative vaccines. Overall vaccination coverage among adults and children has decreased in recent years as vaccine hesitancy and fatigue have risen. The 2023 Vaccine Market Report describes the overall vaccine market, including the approval process, updated vaccination schedules, vaccines progressing through clinical trials, necessary vaccine supplies, and market value for childhood, adult, influenza, and COVID-19 vaccines.
Key Findings
- Doses administered: Over 676 million doses of the individual COVID-19 vaccine and booster doses were administered in the U.S. by May of 2023.
- Vaccination rates: Adult vaccination rates in 2022 declined 14% compared to 2019.
- Doses manufactured: An estimated 170 million doses of the influenza vaccine will be manufactured for the 2023–2024 flu season, a 17% decrease from the prior flu season.
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