Global Varicella Live Vaccine Market to Impel at 5.78% of CAGR by 2028
According to a new market research report published by Inkwood Research, the Global Varicella Live Vaccine Market is evolving at a CAGR of 5.78% during the forecasting period.
"Browse 17 market Data Tables and 38 Figures spread over 165 Pages, along with an in-depth TOC on Global Varicella Live Vaccine Market Forecast 2019-2027".
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Varicella, in general, also termed as chickenpox, is a very contagious disease caused by the primary infection with varicella-zoster virus (VZV). The disease is characterized by symptoms such as skin rash that forms small itchy blisters, that eventually scab over. The varicella live vaccines are available in two types combination and monovalent vaccines. The vaccine is administered in two doses pattern to both children and adults, to ensure complete immunization.
The worldwide rise in the immunization programs is one of the prime drivers boosting the varicella live vaccine market growth. Also, growing awareness in terms of usage of varicella live vaccines and growing adoption by the various government around the globe are some of the factors responsible for fueling the growth of the market globally.
Rise in the Awareness of Varicella Live Vaccines Usage Drives the Global Market
The constant undertaking to ensure immunization and growing initiatives by the government are leading growth in the market. On the other hand, active efforts are taken to increase the vaccine’s awareness in emerging economies, such as India, majorly due to the availability of platforms that encourage discussion on vaccines and vaccination. For instance, a specifically developed platform known as Vaccine India targets International visitors, parents, government bodies, public healthcare professionals and adolescents with interest in vaccine safety and immunization. Moreover, the South Australia Government recommends the utilization of MMRV vaccine to vaccinate against varicella-zoster. Therefore, this rise in awareness related to the use of varicella live vaccines is boosting the growth of the market.
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Monovalent Vaccines - Key Product in the Market
The monovalent vaccine comprises only a strain of single-antigen for immunization against a microorganism or a single antigen. The vaccine is obtained from live attenuated Oka strain and breed in MRC- 5 human diploid cells. The monovalent vaccine is marketed as a lyophilized virus, supplied with a reconstitution medium. The vaccine exhibit fewer negative outcome when compared to combination varicella live vaccines, which is another reason for the high demand for the vaccine in the market. For instance, febrile seizure rates associated with combination vaccines are higher than monovalent vaccines.
North America & Asia Pacific – Potential Regions for the Global Varicella Live Vaccine Market
North America dominated the global varicella live vaccine market in the year 2019. In terms of revenue, it contributed a colossal share of around 42.85%, and is expected to continue its dominance over the forecasting years. One of the prime factors supplementing this dominated growth in the region is the robust growth of various programs for varicella vaccination. The prime countries influencing growth in the regional market are Canada and the United States. Factors such as, availability of varicella live vaccines and including it in the routine vaccines are propelling growth in the regional market.
The Asia Pacific is the fastest developing region in the global varicella live vaccine market during the forecasted period. The major attributes propelling the market in the region are surge in enhanced healthcare services and a rise in healthcare expenditure. Besides, growing significance for immunization and increasing awareness are expected to propel the varicella live vaccine market in the Asia Pacific region.
Merck & co. Inc., Sanofi, and Takeda Pharmaceutical Company Limited hold a significant share of the global varicella live vaccines market. These companies contribute the majority of the products. Hence there is intense competition to market these products. Moreover, these companies are focusing on innovations and are robustly spending on R&D to maintain their presence in the market.
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