Canada Vaccine Market Insights Forecasts to 2033

• The Canada Vaccine Market Size was valued at USD 2.15 Billion in 2023.
• The Market Size is growing at a CAGR of 7.55% from 2023 to 2033
• The Canada Vaccine Market Size is expected to reach USD 4.55 Billion By 2033

The Canada Vaccine Market Size is anticipated to exceed USD 4.55 Billion By 2033, Growing at a CAGR of 7.55% from 2023 to 2033. The increasing technological advancement in vaccine development, government initiatives for immunization programs, and investments in research & development are driving the growth of the vaccine market in the Canada.     

Market Overview

Vaccine is a biological preparation that provides active acquired immunity to a particular infectious or malignant disease. Usually manufactured from weakened or destroyed strains of the microbe, its toxins, or one of its surface proteins, a vaccine contains an agent that mimics a disease-causing bacteria. Infants are vaccinated to protect them against chronic illnesses like rotavirus and tuberculosis. The emergence of new illnesses such as swine flu (H1N1) and H1B1 virus leads to the implementation by the government of new disease prevention strategies. Scientists have explored innovative therapeutic vaccines for hypertension, dyslipidemia, Alzheimer’s, cancer, and inflammatory diseases, targeting specific self-antigens. Further, the implementation of technological strategies for the development of therapeutic vaccines such as molecular-based vaccines (peptide/protein, DNA and mRNA vaccines), vector-based vaccines (bacterial vector vaccines, viral vector vaccines and yeast-based vaccines), and cell-based vaccines (dendritic cell vaccines and genetically modified cell vaccines) are presenting lucrative market growth opportunity. 

Report Coverage

This research report categorizes the market for the Canada vaccine market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada vaccine market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada vaccine market.

Driving Factors

The increasing technological advancement in vaccine development such as genetic engineering, use of nanotechnology, and the integration of artificial intelligence are contributing to driving the market growth. Further, the government initiatives for immunization programs are augmenting the market growth. For instance, the National Immunization Strategy helps Federal, Provincial and Territorial governments and key stakeholders work together to improve vaccination programs across Canada. In addition, the investments by the government of Canada in the biomanufacturing, vaccine, and therapeutics ecosystem are significantly contributing to support market growth.

Restraining Factors

The high investment required for vaccine development is challenging the Canada vaccine market. Further, the stringent regulatory processes involved in the development process of vaccines are challenging the market growth.

Market Segmentation

The Canada Vaccine Market share is classified into type, route of administration, disease indication, age, and distribution channel.

• The mRNA vaccines segment dominated the market with the largest market share in 2023.

The Canada vaccine market is segmented by type into subunit vaccines, inactivated, live attenuated, mRNA vaccines, and viral vector vaccines. Among these, the mRNA vaccines segment dominated the market with the largest market share in 2023. mRNA vaccines enhance body’s immune system by improving B- and T- cell responses. These are made in labs using mammalian cells and injected into the target's body to cause the cells to generate viral antigen proteins and activate immune sensors that recognize viruses. The increasing demand for new vaccines & therapeutics and increasing R&D investments are contributing to driving the market. For instance, mRESVIA is Moderna's second approved product in Canada, the first mRNA vaccine against RSV.

• The parenteral segment accounted for the largest market share during the forecast period.

The Canada vaccine market is segmented by route of administration into oral, parenteral, and nasal. Among these, the parenteral segment accounted for the largest market share during the forecast period. Vaccines administered parenterally have proven to be a very successful method of preventing and managing infectious illnesses. Parenteral vaccines can be given intramuscularly, subcutaneously, or intradermally, providing number of benefits, such as improved vaccination durability, strong immune response activation, and quick and effective antigen transport to the immune system.

• The viral diseases segment dominated the Canada vaccine market with the largest market share in 2023.       

Based on the disease indication, the Canada vaccine market is divided into viral diseases, bacterial vaccines, cancer vaccines, and allergy vaccines. Among these, the viral diseases segment dominated the Canada vaccine market with the largest market share in 2023. Experimentally developed vaccines have helped to largely suppress diseases including rubella, mumps, measles, and poliomyelitis. The ongoing technological advancements that provide potential new platforms for the development of vaccines against emerging viral pathogens are augmenting market growth.

• The adult segment is anticipated to dominate the market with the largest market share during the forecast period.

Based on the age, the Canada vaccine market is divided into pediatric and adult. Among these, the adult segment is anticipated to dominate the market with the largest market share during the forecast period. Healthy adults are susceptible to some diseases that are more prevalent in this age group. For this reason, as age, more vaccinations are required. Adults can receive new vaccinations against human papillomavirus, herpes zoster, and respiratory syncytial virus (RSV). The increasing investment in research and development activities for the development of novel adult vaccines by pharmaceutical companies is contributing to drive the market growth.

• The government suppliers segment dominated the market with the largest revenue share over the forecast period.

Based on the distribution channel, the Canada vaccine market is divided into hospital & retail pharmacies, government suppliers, and others. Among these, the government suppliers segment dominated the market with the largest revenue share over the forecast period. For 2023 and beyond, Canada has obtained vaccines from Pfizer, Moderna, and Novavax, with the possibility to buy extra doses if necessary. Unlike other pharmaceutical products, vaccinations are mostly funded by public funding through government and pooled procurement agreements.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada vaccine market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• CSL Ltd
• Sanofi SA
• GSK Canada
• Pfizer Inc
• Moderna Inc
• AstraZeneca PLC
• Merck & Co Inc
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2024, Moderna said that the Canadian government has approved its updated Covid-19 Spikevax for individuals aged six months and older.
• In July 2024, Haiti’s Ministry of Public Health and Population vaccinated more than 230,000 children in a campaign launched to contribute to reducing infant mortality related to diphtheria.
• In May 2024, the Ontario government joined Sanofi to celebrate the grand opening of their new, $800 million vaccine manufacturing facility at its Toronto campus. The new building, spanning approximately 200,000 square feet, would produce pediatric and adult vaccines for pertussis (whooping cough), diphtheria and tetanus, significantly increasing the country’s production of life-saving vaccines for domestic and global markets.

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada Vaccine Market based on the below-mentioned segments:

Canada Vaccine Market, By Type

• Subunit Vaccines
• Inactivated
• Live Attenuated
• mRNA vaccines
• viral vector vaccines

Canada Vaccine Market, By Route of Administration

• Oral
• Parenteral
• Nasal

Canada Vaccine Market, By Disease Indication

• Viral Diseases
• Bacterial Vaccines
• Cancer Vaccines
• Allergy Vaccines

Canada Vaccine Market, By Age

• Pediatric
• Adult

Canada Vaccine Market, By Distribution Channel

• Hospital & Retail Pharmacies
• Government Suppliers
• Others