Global Varicella Virus Vaccine: Market Analysis and Forecast Report 2030

Description

Global Varicella Virus Vaccine: Market Analysis and Forecast Report 2030

Product Overview
Varicella often referred as chickenpox is an infection that easily spreads from one person to another and caused by the varicella-zoster virus. The disease is identified by the appearance of itchy, blister-like rashes on the surface of the chest, back, face, and rest of the body. Chickenpox is generally a mild infection, but can sometimes cause serious problems, such as pneumonia, brain inflammation, and Reye’s syndrome, a rare disease.
Market Highlights
Global Varicella Virus Vaccine is expected to project a notable CAGR of XX.X% in 2030.
Global Varicella Virus Vaccine to surpass USD XX. XX billion by 2030 from USD XX.XX billion in 2020 at a CAGR of XX.X % in the coming years, i.e., 2020-30. Factors such as rising awareness regarding the usage of varicella vaccines, increasing government participation in immunization programs and surge in the adoption of varicella vaccines are driving varicella vaccine market growth.
Global Varicella Virus Vaccine: Segments
Monovalent Varicella Vaccine segment to grow with the highest CAGR during 2021-30
Global Varicella Virus Vaccine is segmented by Vaccine into Monovalent Varicella Vaccine and combination Varicella Vaccine. Monovalent Varicella Vaccine, segment held the largest market share of XX.X% in the year 2020 and will continue to dominate the market in the coming years. The monovalent vaccines comprise of single strain of a single varicella live vaccines, include a weakened strain of the varicella-zoster virus. As compared to combination vaccines, these vaccines display the lesser chances of inducing febrile seizures in children. These vaccines are easily available and are utilized for chickenpox immunization and herpes zoster immunization.
Market Dynamics
Drivers
Increasing immunization programs
With the active participation of government in immunization program, it is expected to drive the varicella virus vaccine market. Immunization programs is profound way to regulate diseases and enhance the lives of many particularly in the developing world. Immunization can help in the prevention of viral infection; thus immunization is crucial. In cooperation with Gavi, the World Bank, the WHO and UNICEF, a number of manufacturers are committed to promoting immunization campaigns and speeding up the launch of new vaccines. The EPIVAC program is also being established by a few companies affiliated with Gavi to train health care providers to introduce and improve immunization programs in countries such as sub-Saharan African countries. All these factors are estimated to drive the market growth in the coming years.
Restraint
High production cost associated with varicella virus vaccines
The development of varicella vaccine requires huge capital expenditure. The process of developing it is time consuming which may restrict the market growth in the near future. The production of varicella vaccine consists of various phases. Phase 1 includes the research on group of volunteers to assess the tolerance, safety and immunological impact that is exhibited at different levels of doses. Though the research and development of the vaccine is exhausting and time consuming process.
Global Varicella Virus Vaccine:
Key Players
GlaxoSmithKline PLC
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Merck & Co. Inc.,
GC Pharma (Green Cross Holdings)
Bio-Med Pvt Ltd,
Novo Medi Sciences Pvt Ltd,
Sanofi,
Takeda Pharmaceutical Company Limited
Mitsubishi Tanabe Pharma Corporation.
Emcure Pharmaceuticals Limited
Other Prominent Players

Global Varicella Virus Vaccine: Regions
Global Varicella Virus Vaccine is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific and Middle East and Africa. Global Varicella Virus Vaccine in North America held the largest market share of XX.X% in the year 2020. North America will continue to dominate the global Varicella Virus Vaccine Market. The growth in the region is attributed to the high population and rising awareness among the populace regarding the usage of vaccine. Furthermore, the presence of key players involved in the production and commercialization of vaccines in the region is fueling the market growth. As per the estimates of Centers for Disease Control and Prevention (CDC), in United states more than 3.5 million cases of varicella, 9,000 hospitalizations, and approximately100 deaths are prevented by varicella vaccination each year. In addition, the well-established healthcare infrastructure and surging healthcare spending is expected to further stimulate the overall regional market growth.
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