The Evolution of the Vaccine Industry: From Crisis to Boom Post-1986 Vaccine Act: Sales Equal $1b in 1986 to $74b in 2024!
Vaccine Industry's Transformation Since 1986: From Crisis to $65 Billion Global Market The vaccine industry has undergone a dramatic transformation since the 1986 National Childhood Vaccine Injury Act (NCVIA) , growing from a struggling $1 billion market to a thriving $65 billion global enterprise. The pivotal legislation, signed by President Reagan, created a no-fault compensation system for vaccine injuries and provided manufacturers with liability protection against "unavoidable" side effects. This legal shield sparked unprecedented growth in vaccine development and production, with projections showing the market reaching $88.61 billion by 2029. Major pharmaceutical companies like Pfizer, Moderna, and Merck have emerged as industry leaders, developing innovative products including new mRNA technologies demonstrated during the COVID-19 pandemic. However, the industry's success has raised concerns about vaccine safety oversight and injury compensation. The National V...