Market Trends of Global Varicella Vaccine Industry
This section covers the major market trends shaping the Varicella Vaccine Market according to our research experts:
Monovalent Varicella Vaccine Segment is Expected to Hold a Significant Market Share in the Varicella Vaccine Market
The monovalent varicella vaccine segment holds a significant market share in the varicella vaccine market and is anticipated to show a similar trend over the forecast period as these vaccines exhibit lesser chances of inducing febrile seizures in children compared to combination vaccines. The monovalent vaccines contain a single strain of a single varicella live vaccine, contains a weakened strain of the varicella-zoster virus.
These vaccines are used for chickenpox immunization and herpes zoster immunization hence growing prevalence of these diseases is anticipated to drive the growth of the market. According to the study titled "Geospatial Epidemiology of chicken-pox disease in India between 2015-2021: A GIS based analysis" published in the National Journal of Indian Association of Preventive and Social Medicine, March 2021, There have been 1269 outbreaks of chickenpox between January 2015 and May 2021, totaling 27,257 cases. The confirmed death toll stands at 31, with Bihar and Uttar Pradesh accounting for the majority of cases. 19 states did not report any fatalities. The seasonally adjusted trend indicates that January and March saw the highest number of cases. Thus, growing prevalence of the chickenpox expected to drive the demand for vericella vaccines thereby boost the market growth.
Moreover, according to the study titled "Ten-year follow-up on efficacy, immunogenicity and safety of two doses of a combined measles-mumps-rubella-varicella vaccine or one dose of monovalent varicella vaccine: Results from five East European countries" published in Vaccines in May 2021, Following varicella immunisation, one dosage induced antibody responses that lasted for ten years. Thus, due to such benefits of the monovalent vericella vaccines drives the growth of the segment
Furthermore, easy availability and high adoption of monovalent products are the key driving factors in the monovalent varicella vaccine segment.
North America is Expected to Hold a Significant Share in the Market and it is Expected to do the Same during the Forecast Period
The North American region is expected to hold a major market share of the global varicella vaccine market, due to the presence of major players involved in the commercialization and development of vaccines in this region. According to the Centers for Disease Control and Prevention (CDC) update in April 2020, estimates, more than 3.5 million cases of varicella, 9,000 hospitalizations, and around 100 deaths are prevented by varicella vaccination each year in the United States. Furthermore, the presence of a well-established healthcare infrastructure and increasing healthcare spending is also fueling the growth of the overall regional market to a large extent.
However, there are numerous campaigns being conducted in the United States to immunize people against the vericella vaccine in order to prevent diseases. For Instance, in October 2021, Measles, mumps, rubella (MMR), and varicella (chickenpox) vaccinations for Afghan evacuees who are temporarily staying at eight military installations in the United States have been administered nationwide as part of Operation Allies Welcome (OAW). This effort has resulted in the vaccination of more than 49,000 Afghan refugees nationwide. Additionally, vaccinations are being given to evacuees at staging locations in Europe and the Middle East.
Through various clinical trials, major corporations are concentrating on creating and marketing safe and efficient vaccines to treat herpes zoster infection. For Instance, In November 2021, GlaxoSmithKline Inc. reported that SHINGRIX (Zoster Vaccine Recombinant, Adjuvanted) has been approved in Canada for the prevention of shingles (herpes zoster) in adults aged 18 years and older who are or who will be at increased risk of shingles due to immunodeficiency or immunosuppression caused by known disease or therapy. Additionally, the market is likely to grow throughout the forecast period due to increased government funding for vaccination and awareness programmes.
Thus, owing to the above-mentioned factors, it is expected to aid the growth of the market studied in the North American region over the forecast period.
