Innovation with Continuity to drive the Vaccines Market
Published On : Mar 12, 2021
Persistence Market Research states that the global vaccines market will witness a CAGR of more than 7% between 2021 and 2030.
Where does the world stand as far as Vaccines are concerned?
The world at large is subject to the major threat in the form of viral infections. The increasing incidences of various infectious diseases like hepatitis, human papilloma, influenza, rotavirus, polio, tetanus, diphtheria, dengue, malaria, chicken pox are driving the vaccines market. However, there could be restraints in the form of non-uniformity of regulations all over the world. The “Global Vaccine Action Plan (GVAP)” has been in place since the year 2012. 194 member states of “World Health Assembly” have authorized it. Plus, UNICEF has pitched in, with guidelines on development of national immunization plan, i.e. cMYP (the Comprehensive Multi-Year Plan) for all the countries. More than 129 countries have received vaccination related to DPT3 since 2014.
Dealing with the Chronic Stuff and Pandemic(s)
Apart from the programs mentioned above, research is being conducted on a war footing regarding the treatment/prevention of chronic diseases and pandemic(s).
RNA based therapeutics and vaccines markets are reported to be all the more effective against the pathogens, especially to treat chronic ailments like diabetes, CVDs, HIV, and cancer. Moreover, the population between 15 and 19 years of age is susceptible to meningitis. Also, 21% of infants could contract meningitis. There is a lot of scope for growth of meningococcal vaccines market with lack of awareness herein and medical personnel spreading it all across.
Autogenous vaccines for Aquaculture Market have been doing the rounds in North America and Europe since long. However, the base has shifted to the Asia-Pacific because herein there is less stringency of regulations as compared to the other two regions.
There has been no looking back with regards to the flu vaccines in North America and certain parts of the Asia-Pacific. Seasonal flu has been affecting the US and Australian population between October and May. The ongoing pandemic has added to the sales of flu vaccines. Though Covid-19 is a few levels above flu, the vaccines did help while Covid-19 vaccines were in production.
North America holds more than 35% of the market share. This could be credited to extensive research conducted regarding the processing and trial of vaccines. The government of the US has also inked supply agreement with Moderna Therapeutics regarding mRNA Covid-19 vaccine candidate. Europe and the Asia-Pacific are also not behind. In fact, these three regions have already started administering Covid-19 vaccines.
Something about Aquaculture and its Vaccines
Aquaculture vaccines are there to guard against infection to the aquatic animals. As per “Fisheries of the United States 2017”, The Asia-Pacific is subject to culturing of close to 89% of mollusks, crustacean, and fish and the largest market for aquaculture. These vaccines help in keeping diseases like hepatopancreatic, microsporidiosis and hepatopancreatic necrosis away. Autogenous vaccines do play an important role in controlling bacterial disease in commercial aquaculture vaccines market. These vaccines have obtained acceptance from the aquaculture farming companies. They are administered during the emergency outbreaks. However, availability at the commercial level is limited as they suffice only certain ailments. On these grounds, MARINNOVAC and CZVAACCINES S.A. came up with an aquaculture pharmaceutical company called “AQUATRECK ANIMAL HEALTH S.L.”.
How about Competition?
The key market participants include Pfizer Inc., GlaxoSmithKline plc, Sanofi, Merck & Co., Inc., Emergent BioSolutions, Inc., CSL Limited, Novartis AG, Bavarian Nordic, Inovio Pharmaceuticals, Inc., Mitsubishi Tanabe Pharma Corporation, and several other prominent players. There is no denying the fact that vaccine market has been subject to maximum turbulence since the last few years, as numerous ailments have raised their heads therein. A few years back, the world saw the outbreak of E.Coli, SARS, H1N1, and at the far end of 2019, Covid-19. The other ailments like seasonal flu, malaria, dengue are already there to stay.
Along these lines, Kenya, in Sep 2019, along with Malawi and Ghana, launched the malaria vaccine – the first of its kind across the globe. Also, in May 2019, the US FDA approved dengue vaccine “DENGVAXIA”. Also, AstraZeneca, in collaboration with the University of Oxford, has tabled AZD1222 vaccine for Covid-19. The other examples include “CoVaxin” by Bharat Biotech, and “Covidshield” by Serum Institute of India.
Global Market Study on Flu Vaccines: Alleviating the Stress on Healthcare Systems amid COVID-19 PandemicView Report