The World's Biggest Vaccine Manufacturers

The global vaccine industry plays a vital role in protecting public health by supplying billions of doses each year for routine immunization and disease prevention.

According to the WHO Global Vaccine Market Report 2024, vaccine production remains concentrated among a number of manufacturers that collectively support immunization programs in countries around the world. The report, which analyzes the global vaccine market based on 2023 data, identifies the leading manufacturers by production volume.

At the top of the list is Serum Institute of India (SII) with a production volume of 24 (billions of doses). The company has long been recognized as the world's largest vaccine manufacturer by volume, supplying affordable vaccines for diseases such as measles, polio, diphtheria, and more recently malaria.

Its extensive manufacturing capacity has made it a cornerstone of global immunization efforts, particularly in low- and middle-income countries.

Ranking second is Bharat Biotech International Limited (BBIL) with 11, reflecting the growing importance of Indian manufacturers in the global vaccine ecosystem. The company has expanded its portfolio beyond traditional vaccines and gained international recognition for its innovation and production capabilities.

Indonesia's state-owned manufacturer Biofarma ranks third with 9, underscoring Southeast Asia's contribution to global vaccine supply. Biofarma has been a key supplier of routine childhood vaccines and has strengthened regional vaccine security through partnerships with international health organizations.

Another developing-country vaccine manufacturer, Biological E (BioE), follows with 7. The company has steadily increased its manufacturing capacity and product portfolio, enabling it to serve both domestic and international immunization programs.

Rounding out the top manufacturers are Pfizer and Sanofi, each with a production volume of 6. Although both companies generate significantly higher vaccine revenues than many volume-focused manufacturers because of their portfolios of higher-value vaccines, their production volume is lower than several manufacturers specializing in large-scale supply for routine immunization.

The WHO report highlights that vaccine market leadership can differ substantially when measured by financial value versus production volume.

The rankings demonstrate the increasingly diverse geography of vaccine manufacturing. Companies from India and Indonesia account for four of the six leading manufacturers by volume, illustrating the growing role of developing-country vaccine manufacturers in ensuring global vaccine access.

As demand for routine immunization and emerging vaccines continues to grow, these manufacturers will remain essential to strengthening global health security and expanding equitable access to lifesaving vaccines.