07 January 2021
Visiongain has launched a new report Inactivated Vaccines Market Report 2020-2030: Forecasts by Pathogen Type (Viral, Bacterial), by Target Type (Pertussis, Cholera, Polio (IPV), Influenza, Hepatitis A, Cell Mediated Rabies, Others), by End-user Type (Paediatric, Adults), by Channel Type (Hospitals & Clinics, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Inactivated Vaccines Companies AND COVID-19 Recovery Scenarios.
Global Inactivate Vaccines market was valued at US$ xx billion in 2019 and is projected to reach at a market value of US$xx billion by 2030. Factors such as rise in the prevalence of the infectious and bacterial diseases and active participation of government in vaccine development are driving the growth of this market. While high cost of vaccine development is the key factor emerging as a growth barrier over years in this market.
COVID-19 Impact on Inactivated Vaccines Market
The emergence of COVID-19 event has affected to greater extent to the growth of this market as inactivated vaccines plays a major role in the production process of new upcoming vaccines, as government across all countries are strengthening their health and related services to combat against COVID-19 outbreak. Four parameters has helps this market to regain the growth without losing growth momentum during this COVID-19 situation. This mainly includes vaccine procurement, manufacturing, R&D, and vaccination coverage.
Rise in prevalence of infectious diseases
Increasing prevalence of infectious disease is causing a real time threat to public health in almost all the countries. Cholera, Influenza, Hepatitis A, Polio, and Pertussis are some of the mainly observed infectious diseases across the globe and prevalence rate for these diseases is growing significantly. Inactivated vaccines are effectively used to treat above-mentioned diseases and therefore growing incidences of these diseases is driving the growth of this market.
Government support in vaccine development
Government support has been playing major role in the vaccine innovation and development in response to the vital role played by vaccines in the healthcare practices. To ensure public health, governments from various geographies have been coming up with measures to offer opportunities in vaccine innovations. Such initiatives are seen to be relatively organized in developed countries like U.S. and few European countries. U.S. government has come up with ‘National Vaccine plan’ with a vision of developing new and improved vaccines. The aim of this plan is to prioritize new vaccine targets of domestic and global public health importance, support research to develop and manufacture new vaccine candidates and improve current vaccines to prevent infectious diseases, and support research on novel and improved vaccine delivery methods.
Demand for vaccines during Corona pandemic
Amid COVID-19, demand for inactivated vaccines has increased as inactivated vaccines are having lower disadvantages compared to activated vaccines. There is currently no treatment available for the disease. However, vaccination is the key for controlling the spread of Covid19 strains. Healthcare authorities across are awareness about the need of vaccine and are now prioritizing the demand for vaccine. This is due to a rapid increase in number of corona cases and rising death tolls due to the diseases.
Some of the companies profiled in the report include GlaxoSmithKline PLC, Emergent BioSolutions Inc., Merck & Co., Inc., Sanofi, Valneva SE, Pfizer, Astellas Pharma Inc., Johnson & Johnson, Seqirus Serum Institute of India, and range of other players. The vaccine industry is becoming one of the largest and profits making industry with a presence of many global and regional players. Therefore, the market is highly competitive in nature. Strong competition is due to high importance of intellectual property of leading researchers in the market. Any new vaccine has its public information analysed to evaluate the possibility of creating similar vaccine as substitute. The global inactivated vaccine market and the global pharmaceutical industry is controlled by manufacturers that have promising research pipeline which is ultimately increasing degree of competition in the market.
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