Report Overview

The China vaccine market size stood at around USD 6.375 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

China is one of the worlds most populous countries, and the recent uplifting of its one-child policy has consequently shifted the demographic of the country, making it a vaccination industry lucrative market for healthcare manufacturers. To strengthen the healthcare system for new-borns and children to the age of 14, the government has attempted to make the most common vaccinations like DTP (Diphtheria, tetanus, pertussis), MMR (Measles, Mumps, and Rubella), hepatitis A and B, meningococcal and polio vaccines compulsory and readily accessible.

China's vaccine market is divided into public and private vaccine markets. The public market is classified by Category 1 whereas and Private vaccines included in Category 2. Vaccines in the public market are regulated by the PRC government and generally given free of cost by the provincial CDC whereas the private vaccine market is dominating by private vaccine companies. As a result, private vaccine prices are higher. China's vaccine market has faced several scandals in the past couple of years which certainly hinder the vaccine market growth.



Market Drivers

The factors contributing to or driving the growth of the Vaccine market in China are the advancement in the quality of vaccines, the Growing number of aging populations, increased awareness among the consumers regarding healthcare, Government policies, and expenditure for the development of vaccines. Also, the Affordability of vaccines by the end consumers and & expertise in the raw materials contribute to the development of Vaccine market size in China.

R&D capabilities, stringent quality management system, long development time frame, and large intensive capital requirement can be considered as the challenges for the growth of the vaccine market in China.