Live Vaccines Market Size – USD 15.15 Billion in 2018, Market Growth - CAGR of 6.6%, Live Vaccines Industry Trends – Product launches and research for live vaccines
NEW YORK, Oct. 16, 2019 /PRNewswire/ -- Rising prevalence of infectious disease, product launches, increasing strategic developments such as partnerships and agreements, rising government initiative program, increasing healthcare expenditure and increased resistance to existing therapies are key factors contributing to high CAGR of live vaccines during forecast period.
According to the current analysis of Reports and Data, the global Live Vaccines market was valued at USD 15.15 billion in 2018 and is expected to reach USD 24.95 billion by the year 2026, at a CAGR of 6.6%. Live vaccines are derived from disease causing viruses or bacterial strains, these diseases causing bodies are attenuated or weekend by repeated culturing, which is then replicates into the individual body once is injected in response body develops immune and targets the infectious disease. The live vaccines market is driven due to the increasing prevalence of infectious disease such as typhoid, across the globe. As per an estimation, around 11-21 million new cases of typhoid are registered worldwide. Approximately 10.0 million cases across the globe, were diagnosed with tuberculosis in 2017.
Rising awareness among the public as well as favorable government initiatives is supporting the market growth in developing nations. For example, Indian government started Pulse Polio in India, which aims to approach 100% population irrespective of literacy, financial capability, and to all geographical regions of India by aiming majorly social media. Global Polio Eradication Initiative (GEPI) funds are managed by various public and private sector donors. Furthermore, according to the recent news, England is no more measles free state due to approximately 931 new cases were registered in England and Wales in 2018 and around 231 new cases in England were diagnosed with measles in the first quarter of 2019. The global burden of such diseases is contributing towards the growth of live vaccines market.
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Live vaccines are preferable over other types of vaccination as it requires short dose, and in general, a single dose of live vaccines can provide lifetime immunity against the respective disease. Introduction of advanced technology such as live recombinant vaccine also supports the market growth. Live recombinant vaccine uses virus or bacterial strains that involves a specific gene from victim's DNA which is responsible in production of protein to target the pathogen causing disease, and produces immunity vaccines. Live recombinant vaccine are generally used for infectious diseases such as smallpox, influenza, hepatitis B and rabies.
User friendly technologies to support easy vaccine delivery has been launched in past few years; such as inhaled vaccine, delivery of influenza vaccine as a nasal spray, and delivery of vaccines through patch (that involves tiny needles). Such routes of vaccine delivery are advantageous for the use in remote area with dearth of clinicians. Such technological advancements are expected to boost the market growth.
Rising incidences of infectious disease across the globe, rise in public awareness about healthcare, increasing government initiative programs for eradication of diseases through vaccination, and increasing resistance to existing drug therapy are among the key factors contributing to the market growth across developed as well as developing nations. However, side effects of the vaccination such as joint pain, muscle pain and possibility of contraindication in a various medical conditions such as pregnancy, organ transplantation, and immune dysfunction are among the key factors that may restraint the market growth during the forecast period.
Further key findings from the report suggest
- During 2019-2026, live vaccines market is expected to register a CAGR of 2% in Asia Pacific; followed by North America and Europe, with 6.4% and 6.5% CAGR, respectively. High prevalence of infectious diseases across the globe is the major factor driving the market during the forecast period across all regions.
- The measles segment dominates the market with a 24.8% market share in the year 2018. It is estimated to grow at a CAGR of 7.1% during the forecast period to reach USD 6.41 billion by 2026, as more number of patients are suffering from measles
- The injection route for the administration of live vaccines segment is forecasted to be the fastest growing market segment, estimated to witness a CAGR of 6.8%. Parenteral route or injection for the administration is required for vaccines that cannot be administered orally, due to the factors such as destruction of vaccine by digestive enzymes.
- Based on type, the viral type of live vaccines segment dominates the market holding over 60% market share.
- Asia Pacific accounted for the USD 3.44 billion of the global live vaccines market. Developing nations such China, and India are likely to witness high growth due to high population growth, high geriatric population in the region, and high prevalence of target diseases in the region
- Key players operating in live vaccines market are enhancing their market business through inorganic strategies such as geographic expansion. For instance, in 2019, Sanofi Pasteur started its new state-of-the-art YF-VAX (Yellow Fever Vaccine) production plantation in U.S.
- Slow rate of commercialization, high costs involved in research and development, reluctance toward the adoption of new treatment practices and stringent government regulations are among the key factors likely to hamper growth of the market
- Key participants include Merck & Co., GlaxoSmithKline plc., Pfizer Inc., Astellas Pharma Inc., Emergent BioSolutions, AstraZeneca plc, Serum Institute of India Pvt. Ltd., Bharat Biotech, Sun Pharmaceutical Industries Limited, and Cipla Limited
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/live-vaccines-market
Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the live vaccines market on the basis of type, route of administration, application, patient use and region:
Type Outlook (Revenue, USD Million; 2016-2026)
Route of Administration Outlook (Revenue, USD Million; 2016-2026)
- Combination of Injection and Oral
Application Outlook (Revenue, USD Million; 2016-2026)
- Yellow Fever
- Oral Polio
Patient Use Outlook (Revenue, USD Million; 2016-2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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