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According to the Centers for Disease Control and Prevention (CDC), varicella affects nearly every child who have weakened immunity worldwide. Annual incidence rate is approximately 80-90 million cases. Lately, due to surge in the immunization programs, the disease burden is likely to reduce in the coming years. Rise in the procurement volume of the vaccine by government suppliers have led to product demand leading to increase in the sales of the company. As, the varicella virus is highly contagious, immunization of the new-borns is highly recommended by World Health Organization (WHO). Therefore, owing to continuous demand maintaining the supply balance is the key priority of the manufacturers.
The major factor driving the global varicella virus vaccine market is the increase in the adoption of varicella virus vaccines owing to surge in the hospitalization rate due to related diseases. Additionally, strong government immunization strategies and support for R&D is another factor driving the growth of the market.
On the flip side, higher cost associated with the development of vaccine is likely to cause a hindrance in the growth of the market.
Key Market Driver -
Surge in the Adoption of Varicella Virus Vaccines to Drive Product Sales
Key Market Restraint -
High R&D Investments Pertaining to Development of Vaccine to Restrict Growth
By vaccine type, the global varicella virus vaccine market is segmented into monovalent vaccine and combination vaccine. Based on application, the market is classified as chickenpox, herpes zoster, and measles/mumps/rubella/varicella (MMRV). Based on distribution channel, the market is classified as hospital & retail pharmacies, government suppliers, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The major companies in the global varicella virus vaccines market report includes GlaxoSmithKline Plc, Merck & Co. Inc, Sanofi, Mitsubishi Tanabe Pharma Corporation, Novo Medi Sciences Pvt Ltd, Takeda Pharmaceutical Company Limited, GC Pharma, Bio-Med Pvt Ltd, and others.
The global varicella virus vaccines market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global market in 2019, owing to presence of major players involved in development and commercialization of the vaccines. Europe held the second position in the global market owing to rise in the R&D investments for development of vaccine coupled with rise in number of immunization programmes. Awareness among the population about vaccination is the major factor leading to increased sales and demand for varicella vaccines in the Asia Pacific countries. This along with growing mergers and acquisitions between industry players is likely to promote the sales of the products in countries like China, India, and other countries. However, Latin America and Middle East & Africa are likely to witness significant growth during the forecast duration owing lesser adoption of the vaccines.
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By Vaccine Type
By Distribution Channel
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