Live Vaccines Market size was USD 16.14 billion in 2019 and is predicted to grow at a CAGR of 6.6% through the forecast period to reach over USD 24.95 billion by 2026.
Live Vaccines Market size was USD 16.14 billion in 2019 and is predicted to grow at a CAGR of 6.6% through the forecast period to reach over USD 24.95 billion by 2026. The market is driven by the rising prevalence of infectious diseases such as Varicella, Polio, increasing awareness among the population, rising governmental initiatives, increasing healthcare spending capacity of individuals. Live vaccines are derived from disease-causing viruses or bacteria, which are attenuated or weakened by repeated culturing. To create an immune response individual must replicate the virus or vaccine being injected to him; this replication creates sufficient immune response in an individual body.
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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.
The global pharma & healthcare market report points out the key trends and developments taking place in this business space in the ongoing COVID-19 times. According to market experts, the pandemic has turned this industry upside down, with an unprecedented rise in demand and acute supply shortage. The report clearly depicts the current global economic landscape and the considerable situation of the healthcare industry. A substantial increase in demand for healthcare services worldwide, rising cases of the SARS-CoV-2 infection, increasing pharmaceutical research & development activities, and new drug pipelines are among the key factors that have driven the global pharma & healthcare industry growth in the recent past. Growing acceptance of telehealth and telemedicine services, rise in government initiatives for COVID-19 vaccine development, and escalating demand for advanced point-of-care diagnostics and home healthcare products have further bolstered the industry growth.
Key Participants:
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
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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
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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)
- Viral
- Bacterial
Route of Administration Outlook (Revenue, USD Million; 2016-2026)
- Oral
- Injection
- Intra-Nasal
- Combination of Injection and Oral
- Patch
- Inhalation
Application Outlook (Revenue, USD Million; 2016-2026)
- Measles
- Mumps
- Rubella
- Varicella
- Yellow Fever
- Rotavirus
- BCG
- Vaccinia
- Influenza
- Typhoid
- Oral Polio
- Smallpox
- Chickenpox
- Others
Patient Use Outlook (Revenue, USD Million; 2016-2026)
- Adults
- Children
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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