Inactivated Vaccine Market – Regional Insights
On the basis of region, the
global Inactivated
Vaccine Market is segmented into North America, Latin America, Europe, Asia
Pacific, Middle East, and Africa. North America holds the dominant position in
the global inactivated vaccines market, owing to the presence of key market
players in this region, especially in the U.S. Moreover, favorable government
support towards the growth of healthcare sector is also likely to accelerate
the growth of inactivated vaccine market revenue in this region. For instance,
in 2016, the U.S. Department of Health and Human Services shifted fund of
around US$ 81 million from other projects, to continue the work on developing
vaccines to fight Zika virus. Asia Pacific is expected to witness growth in the
market, followed by Europe, owing to growing activities in the healthcare
research and development of new innovative products. For instance, in 2013,
Bharat Biotech launched JENVAC vaccine to provide long-term protection and
immunogenicity against Japanese encephalitis. The important benefit of this
novel fully indigenous inactivated vaccine is that it can be administered
during disease epidemics, as it is an inactivated vaccine and is highly
purified.
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A biological preparation that is
used to provide active acquired immunity to a particular disease are called as
vaccines. Vaccines are commonly of four types: live-attenuated vaccines, toxoid
vaccines, subunit vaccines, and inactivated vaccines. Inactivated vaccines are
created by inactivating a virus, bacteria or pathogens with the treatment of
chemical (formaldehyde) or heat. These pathogens are grown in controlled
culture condition and are killed to reduce their infectivity. Inactivated
vaccines are not as effective as live-attenuated vaccines. Multiple booster
shots and immunologic adjuvants are required to provide an effective immune
response against the diseases. Inactivated vaccines are on the U.S. Recommended
Childhood Immunization Schedule, which includes the seasonal influenza vaccine
and inactivated polio vaccine. Less immunogenicity of older vaccines are
propelling demand for newly developed innovative vaccines with better efficacy.
Researchers and market players are investing in R&D for the development of
safe and effective vaccines, thereby boosting growth of the inactivated
vaccines market.
Inactivated Vaccine Market –
Dynamics
Introduction of new inactivated
vaccines after completion of clinical studies are expected to boost growth of
the inactivated vaccines market over the forecast period. For instance, in
2017, Merck’s investigational inactivated varicella zoster virus vaccine (V212)
showed a decrease in the incidence of herpes zoster case by an estimated 64% in
immunocompromised subjects in the first phase 3 trial. Clinical studies also
revealed that V212 lessens the incidence of herpes zoster pain by around 69.5%.
Moreover, V212 demonstrated 83.7% reduction in the incidence of post herpetic
neuralgia. Rising prevalence of various viral and bacterial diseases around the
globe have increased the demand for inactivated vaccines, which in turn will
fuel the market growth. For instance, according to the World Health
Organization (WHO) report in 2018, annual epidemics due to influenza were
estimated to result in around 3 to 5 million cases of severe illness and around
290,000 to 650,000 deaths. Moreover, WHO 2018 report also showed that around 21
million cases and 222,000 typhoid-related deaths occur annually worldwide.
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Inactivated Vaccine Market –
Competitive Landscape
Major players operating in the
global inactivated vaccine market include GlaxoSmithKline Plc, Seqirus, Valneva
SE, Pfizer Inc., Merck & Co., Inc., Emergent BioSolutions, Bharat Biotech,
and Sanofi. Major market players are involved in adopting market strategies
such as mergers, acquisitions, partnership, collaborations, and development of
new products with leading companies and research institutes, in order to retain
dominant position in the market. For instance, in 2017, the U.S. Food and Drug
Administration (FDA) approved GlaxoSmithKline Plc’s Shingrix, a zoster vaccine
recombinant for the prevention of shingles in adults above the age of 50 years.
Shingrix is a non-live, recombinant subunit vaccine given intramuscularly in
two doses.
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