India Coronavirus Vaccine Market By Type (mRNA Based, Non-Replicating Viral Vector Based, Inactivated Vaccine), By Patient Type (Adult, Pediatric), By End User (Hospitals, Clinics, Research Institutes, Others), By Region, and Competition, 2020-2030

Market Overview

India Coronavirus Vaccine Market was values at USD 765.18 million in 2024 and is expected to USD 1259.90 Million by 2030, growing with a CAGR of 8.81% in the forecast period.  A coronavirus vaccine is a type of vaccine designed to protect against the family of viruses known as coronaviruses. These viruses can cause illnesses in both humans and animals. The term "coronavirus" refers to the characteristic crown-like spikes that protrude from their surfaces when viewed under a microscope. Vaccines against COVID-19 prevent patients from contracting the virus and, if they do, from developing more severe symptoms. The SARS-CoV-2 virus, which produces COVID-19, is something that these immunisations "teach" your body how to fight off. A vaccine made of protein subunits is called Novavax. The "spike" protein that causes COVID-19 is included in the vaccination in innocuous bits. The vaccination causes your body to produce antibodies that shield you from the infection. Currently, it is designed to be effective against the original COVID-19 virus. The COVID-19 vaccination may have some adverse effects including flu-like symptoms, but it won't get you sick. That's typical. These symptoms indicate that the virus is being attacked by antibodies that your body is producing. Government-led vaccination campaigns and initiatives were a significant driver of the India Coronavirus Vaccine Market.  For instance, according to an article published in June 2025, India saw a rise in active COVID-19 cases, reaching 3,961, with four more deaths reported. Kerala, Maharashtra, and Delhi were the worst affected. Since January 1, thirty-two COVID-related deaths had occurred. Experts urged vigilance, noting most cases were mild. New Omicron sub-variants were being monitored, and states rechecked hospital preparedness. Vaccination and masking were emphasized as key preventive measures. 

The Indian government actively promoted and facilitated vaccine distribution and administration. India is known for its robust vaccine manufacturing capacity, and the presence of major vaccine manufacturers like the Serum Institute of India and Bharat Biotech played a vital role in supplying vaccines not only to India but also to other countries. Ongoing research and development activities for COVID-19 vaccines, including the development of new vaccine candidates and improvements to existing ones, drove the market. Public awareness campaigns and the acceptance of vaccines among the Indian population were essential drivers for vaccine uptake. Innovations in vaccine technology, including the development of different types of COVID-19 vaccines, played a role in the market's dynamics. Achieving herd immunity and reducing the spread of the virus were overarching goals, pushing vaccine distribution efforts. India's efforts in exporting vaccines to other countries, as part of its vaccine diplomacy, contributed to the market's growth. It enhanced the reputation of Indian vaccine manufacturers and generated revenue.

Key Market Drivers

Pharmaceutical Innovation

One of the most groundbreaking innovations was the development of mRNA vaccines, such as the Pfizer-BioNTech and Moderna vaccines. These vaccines use a small piece of the virus's genetic material (messenger RNA) to instruct cells to produce a harmless spike protein found on the virus's surface. For instance, India’s robust pharmaceutical industry offers strong investment potential, driven by its global leadership in affordable generics and vaccines, and growing demand in Tier 2 and Tier 3 cities. Valued at approximately US$58 billion, the sector is poised for expansion as biotechnology advances and healthcare commercialization open new product opportunities across domestic and international markets. The immune system then recognizes this protein and generates an immune response. mRNA vaccine technology had never been used in a widely approved vaccine before, making it a significant breakthrough. Some vaccines, like the AstraZeneca-Oxford vaccine and Johnson & Johnson's Janssen vaccine, use a viral vector approach. They use a harmless adenovirus to deliver a piece of the coronavirus's genetic material into cells to trigger an immune response. This technique allowed for the development of vaccines with a single dose. Traditional protein subunit vaccines were developed for COVID-19, such as the Novavax vaccine. These vaccines contain harmless pieces of the virus, like the spike protein, which trigger an immune response. This approach is familiar and has been used in various vaccines.

Some vaccines, like Bharat Biotech's Covaxin, use inactivated virus particles or a live, weakened form of the virus. These are tried-and-true methods for vaccine development. Many pharmaceutical companies conducted adaptive clinical trials, which allowed for ongoing data analysis and adjustments in real-time. This approach expedited the development process. The pandemic prompted unprecedented levels of collaboration and data sharing among pharmaceutical companies, researchers, and governments. This collaboration helped accelerate vaccine development and the sharing of information regarding vaccine safety and efficacy.

Regulatory agencies around the world adapted their processes to issue emergency use authorizations for COVID-19 vaccines, allowing faster deployment while maintaining safety and efficacy standards. Developing vaccines quickly is one part of the challenge; manufacturing them at scale is another. Companies invested in expanding production capacity and optimizing vaccine manufacturing processes. Ongoing surveillance and research into emerging variants of the virus have driven innovation in vaccine development. Manufacturers have explored booster shots and adapted vaccines to address variant strains. This factor will help in the development of the India Coronavirus Vaccine Market.

Increasing Public Awareness and Acceptance

Public awareness campaigns help build trust in the safety and efficacy of vaccines. Effective communication from healthcare authorities, governments, and medical professionals is essential to address concerns and misinformation. These campaigns educate the public about the importance of vaccines in controlling the spread of the virus and preventing severe illness and death. Understanding the benefits of vaccination is key to increasing demand. Some individuals may be hesitant or skeptical about receiving vaccines. Public awareness efforts are essential for addressing these concerns and encouraging vaccine acceptance.

People often get vaccinated not only to protect themselves but also to protect their communities. Public awareness campaigns emphasize the collective responsibility in combating the pandemic. A high level of vaccine acceptance is necessary to achieve herd immunity, which can significantly reduce the spread of the virus in a population. Herd immunity benefits everyone, including those who cannot be vaccinated for medical reasons. Public awareness campaigns help normalize the act of getting vaccinated, making it a routine part of healthcare. This can reduce the stigma associated with vaccines.

Vaccine demand may be hindered by practical barriers, such as difficulty in scheduling appointments, access to vaccination sites, or fear of side effects. Public awareness efforts can address these barriers and provide information on how to overcome them. Public awareness campaigns often provide information about where and when vaccines are available, making it easier for the public to access vaccination services. Public awareness messages can emphasize the role of individuals in contributing to the greater good and public health by getting vaccinated. Public awareness efforts should not be limited to the initial rollout of vaccines but should continue throughout the vaccination campaign to keep the public informed about booster shots and other developments. This factor will pace up the demand of the India Coronavirus Vaccine Market.

Rise in Vaccine Research and Development

Research and development efforts lead to the creation of innovative and highly effective vaccines. For instance, according to an article published in February 2024, the COVID-19 pandemic exposed the risks of depending on foreign vaccine supplies during health crises, prompting many low- and middle-income countries to begin developing their own. The African Union launched a 15-year plan to boost vaccine production, supported by Gavi’s $1.8 billion pledge in December 2023. India’s journey as a leading vaccine producer offered valuable lessons for building sustainable manufacturing capacity worldwide. When new vaccines are developed with high efficacy rates, they are more likely to be in demand as people seek the best protection against COVID-19. Ongoing research is crucial for adapting vaccines to address emerging variants of the virus. When vaccines are modified to provide protection against new strains, people are more likely to seek booster shots and updated vaccines, thus increasing demand. Research and clinical trials ensure that vaccines are safe for use. Data on vaccine safety helps build public trust, reducing concerns about potential side effects and increasing demand.

Initially, vaccines may be authorized for specific age groups. As research demonstrates the safety and efficacy of vaccines for broader populations, the expansion of eligible age groups drives increased demand. Transparent reporting of clinical trial results and vaccine data helps educate the public about the effectiveness of vaccines. Data-driven decisions boost confidence and demand. Research findings and developments are often communicated through public awareness campaigns. These campaigns inform people about the latest research, creating a sense of urgency and increasing demand. Government health agencies and healthcare professionals rely on vaccine research to make recommendations. When research demonstrates the benefits of vaccination, official endorsements increase demand.

International collaboration in research and development efforts fosters trust and confidence in vaccines. Vaccines developed with contributions from multiple countries benefit from a global reputation, which drives demand. Research highlights the role of vaccines in protecting not only individuals but also communities. Understanding that widespread vaccination can reduce the spread of the virus drives a sense of responsibility and increases demand. The expedited development of vaccines in response to a global health crisis demonstrates the capability of the scientific community. It increases confidence in vaccine research and encourages people to seek vaccination. This factor will accelerate the demand of the India Coronavirus Vaccine Market.

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Key Market Challenges

Vaccine Hesitancy

The spread of false or misleading information about vaccines, their safety, and efficacy can create doubts and fears, leading to hesitancy. Previous healthcare initiatives, such as the polio vaccination campaign, have faced challenges in some regions of India, contributing to mistrust in vaccines. Some communities have specific beliefs or practices that influence their perception of vaccines. Overcoming these cultural and religious barriers is essential. In remote and underserved areas, limited access to information and healthcare services can lead to vaccine hesitancy due to a lack of awareness about the importance of vaccination. Concerns about potential side effects or adverse reactions can deter individuals from getting vaccinated. Transparent reporting of side effect data is crucial to address these concerns. In some cases, people may trust traditional or alternative medicine over vaccines, leading to hesitancy. Challenges related to vaccine access, including long travel distances to vaccination sites, inadequate healthcare infrastructure, and lack of resources, can contribute to hesitancy. Effective communication from healthcare authorities is vital. Clear, accurate, and culturally sensitive messaging can address concerns and build trust in the vaccine. Public trust in the vaccine manufacturing and distribution process is essential. Ensuring transparency and adherence to strict safety and efficacy standards is crucial.

Supply Chain Issues

Some COVID-19 vaccines, especially those with specific temperature requirements, need reliable cold storage infrastructure to maintain their efficacy. Ensuring that this infrastructure is in place and functioning effectively has been a challenge, especially in remote and underserved areas. Transporting vaccines from manufacturing facilities to vaccination centers across a vast and diverse country like India poses logistical challenges. Maintaining the cold chain during transportation is essential to prevent vaccine spoilage. Reaching remote and rural areas with vaccines has been a challenge due to limited transportation options and inadequate infrastructure. Ensuring equitable vaccine distribution to all regions is crucial. Proper packaging and labeling of vaccines are critical for tracking and ensuring their safety. Any issues with packaging and labeling can lead to complications in the supply chain. The global nature of vaccine supply chains meant that disruptions in the supply of key components, like glass vials and raw materials, could impact vaccine production and distribution. Maintaining accurate inventory and ensuring that vaccines do not go to waste due to expiration is a constant challenge.

Key Market Trends

Variants and Booster Shots

The emergence of new variants of the SARS-CoV-2 virus raised concerns about the effectiveness of existing vaccines. Variants like Delta and Omicron had the potential to impact vaccine efficacy. As a result, researchers and vaccine manufacturers were working to adapt vaccines to better address these new strains. The need for booster shots to enhance and prolong vaccine protection was being discussed and implemented. Booster doses were considered for individuals who had received their initial vaccine series, and the timing and frequency of booster shots were subjects of study and debate. The Omicron variant, which was first identified in late 2021, sparked particular concern due to its high number of mutations. This led to a more urgent focus on booster strategies and potential modifications to existing vaccines. Vaccine manufacturers were conducting research to determine the effectiveness of their vaccines against variant strains. This research informed decisions about booster shots and potential updates to existing vaccines. The Indian government, like many others, was considering and implementing booster dose strategies and providing guidance on which vaccines to administer as booster shots. The discussion around booster shots and variants was an important part of public awareness campaigns, as it influenced people's understanding of the evolving situation and the importance of staying up to date with vaccinations. Some vaccine manufacturers were exploring the development of updated vaccines specifically designed to target prevalent variants more effectively.

Technological & Digital Innovation

Technological and digital innovation has played a transformative role in shaping the coronavirus vaccine market in India. A key breakthrough was the rapid development and deployment of diverse vaccine platforms, including viral vector-based, DNA-based, protein subunit, and mRNA vaccines. Bharat Biotech introduced Covaxin, an indigenous inactivated virus vaccine, while Zydus Cadila developed ZyCoV-D, the world’s first DNA-based COVID-19 vaccine for human use. Gennova Biopharmaceuticals advanced India’s position in mRNA technology with GEMCOVAC-19, reflecting the country's growing focus on cutting-edge biotech solutions. India also pioneered the use of intranasal vaccines, exemplified by Bharat Biotech's iNCOVACC. These innovations not only expanded delivery methods but also improved ease of administration and acceptance among populations. Cold chain infrastructure saw substantial upgrades, with IoT-enabled logistics systems ensuring temperature-sensitive vaccines were safely distributed across remote regions. Digital innovation, led by the government-backed CoWIN platform, revolutionized vaccine registration, scheduling, and certification. The platform integrated real-time data management with public access, enabling seamless coordination among vaccine providers, government authorities, and citizens. It became a global model for digital immunization logistics, strengthening transparency and traceability. Artificial intelligence and data analytics were leveraged for demand forecasting, supply chain optimization, and monitoring adverse events post-vaccination. These tools enhanced responsiveness and efficiency, especially during peak phases of the immunization drive. Together, these technological strides not only enabled mass-scale vaccination in record time but also positioned India as a frontrunner in digital public health infrastructure, setting a benchmark for future vaccine rollouts and broader healthcare innovations.

Segmental Insights

Type Insights

In 2024, the India Coronavirus Vaccine Market largest share was held by mRNA Based segment and is predicted to continue expanding over the coming years. mRNA vaccines were known for their high efficacy in clinical trials, which may have led to increased demand. Availability of mRNA vaccines through international agreements or partnerships with pharmaceutical companies could have increased their presence in the Indian market. Government decisions and agreements with vaccine manufacturers can also influence which vaccines are available in a particular market. The mRNA technology allows for relatively quick adjustments to vaccine formulations to address emerging variants, making them adaptable to changing circumstances.

Patient Type Insights

In 2024, the India Coronavirus Vaccine Market largest share was held by adults’ segment and is predicted to continue expanding over the coming years.  In most countries, including India, the initial phases of COVID-19 vaccination campaigns prioritized adults, particularly those in higher-risk categories, such as healthcare workers, the elderly, and individuals with underlying health conditions. This prioritization was based on the higher vulnerability of these groups to severe illness and complications from COVID-19. Vaccination campaigns often roll out in phases, starting with the most vulnerable and essential groups and then expanding to the broader adult population. As the campaigns progress, more adults become eligible for vaccination, contributing to the larger share of the market. In demographic terms, the adult population is generally larger than the elderly or paediatric populations. Therefore, a vaccine market that includes adults naturally encompasses a larger portion of the population. Adults constitute a significant part of the workforce and are involved in various economic activities, making them a priority for vaccination to reduce the impact of the pandemic on the economy. Achieving herd immunity often relies on a substantial portion of the adult population being vaccinated, as they make up most of the population. This is essential for controlling the spread of the virus.

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Regional Insights

South India dominates the India coronavirus vaccine market due to its advanced healthcare infrastructure, strong pharmaceutical manufacturing base, and proactive state-level health initiatives. States like Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, and Kerala played a crucial role in both vaccine production and distribution during the pandemic. Hyderabad, in particular, emerged as a major vaccine manufacturing hub. It is home to leading biotech firms such as Bharat Biotech, Biological E, and Indian Immunologicals, which were instrumental in developing and supplying COVID-19 vaccines like Covaxin and Corbevax. This local manufacturing capacity gave South India a logistical advantage in vaccine availability and distribution.  South Indian states have historically invested in robust public health systems, with higher numbers of primary healthcare centers, trained medical staff, and better cold chain infrastructure. These factors enabled efficient vaccine storage, handling, and delivery, even in rural and remote areas. Digital literacy and higher education levels in the region supported widespread adoption of the CoWIN platform, ensuring organized vaccination scheduling and record-keeping. State governments in South India also launched targeted awareness campaigns and mobile outreach programs to increase vaccine coverage.These combined strengths positioned South India as a leader in India’s COVID-19 vaccination efforts, both in terms of production and effective immunization rollout.

Recent Developments

• In January 2023, India introduced the iNCOVACC vaccine, developed by Bharat Biotech. iNCOVACC is administered in the form of nasal drops, and it triggers an immune response in the tissues lining the nasal cavity. Scientists suggest that nasal vaccines may provide additional protection in the nasal passages and upper respiratory tract, where the SARS-CoV-2 virus typically enters the body. In November, India's drug regulator granted approval for the use of iNCOVACC as a heterologous booster dose. This serves as a booster for individuals who had previously received two doses of either Covishield or Covaxin, the two primary Indian vaccines, especially in emergency situations among adults. In December, the drug regulator also approved iNCOVACC for use as both a primary vaccine and a subsequent booster shot for adults.

Key Market Players

• Serum Institute of India Pvt. Ltd
• Bharat Biotech International Ltd.
• Zydus Cadila Ltd.
• Pfizer India Ltd
• Panacea Biotec Ltd
• Indian Immunologicals Ltd
• Mynvax Pvt. Ltd.
• Biological E Ltd.,
• Hetero Biopharma Ltd.
• Dr Reddy's Laboratories Ltd.

Report Scope:

In this report, the India Coronavirus Vaccine Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

•      Coronavirus Vaccine Market, By Type:

o   mRNA Based

o   Non-Replicating Viral Vector Based

o   Inactivated Vaccine

•    Coronavirus Vaccine Market, By Patient Type:

o   Adult

o   Pediatric

•    Coronavirus Vaccine Market, By End-User:

o   Hospitals

o   Clinics

o   Research Institutes

o   Others

•    Coronavirus Vaccine Market, By Region:

o   North India

o   South India

o   East India

o   West India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the India Coronavirus Vaccine Market.

Available Customizations:

India Coronavirus Vaccine Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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