The market growth is attributed to the improvement of more accessible and efficient vaccine development techniques. Significant advancements have been made in formulations, storage, and distribution techniques to improve efficacy and simplify delivery to a range of patients. According to the World Health Organization (WHO), in November 2022, approximately 16.0 billion vaccine doses, worth $141.0 billion, were supplied in 2021, almost three times the 2019 market volume (5.8 billion) and nearly three-and-a-half times the 2019 market value ($38.0 billion).

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by Product Type (Protein Antigen, and Polysaccharide Antigen),

by Production Type (Denaturing of Proteins, and Genetic Engineering),

by Immune Responses Type (Antigen-Presenting Cells (APCs), Cell-Mediated Immunity, Cytokines, Mucosal, and Others), and

by Disease (Infectious Disease, Diphtheria, Tetanus and Pertussis (DTP), HPV, Measles, Mumps and Rubella (MMR), and Others)

Market Players Outlook


The major companies serving the subunit vaccine market include GlaxoSmithKline PLC, Merck & Co. Inc., Pfizer, Inc., Reber Genetics, and Sanofi S.A. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market.

Recent Development

In February 2023, Clover Biopharmaceuticals, Ltd. a commercial-stage biotechnology company announced the introduction of its COVID-19 vaccine, a recombinant SARS-CoV-2 subunit vaccine, in the People’s Republic of China, which began with the first doses delivered and administered in Changxing, Zhejiang as part of China’s national second booster dose (fourth vaccination dose) campaign targeting older adults, immunocompromised individuals and individuals with comorbidities (LINK).
The Report Covers

Market value data analysis of 2023 and forecast to 2031.


Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the subunit vaccine market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.


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