Varicella Vaccine Market is anticipated to grow at a CAGR of 12.3% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Varicella Vaccine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the Global Varicella Vaccine Market is estimated to account for over US$ 3,256.1 million by 2019. The market is anticipated to grow at a CAGR of 12.3% from 2020 to 2030.
The growth of the global varicella vaccine market can be attributed to several factors, which has led to its wide-scale adoption. Better access to vaccines worldwide and growth of pediatric & adult population are anticipated to further contribute to the substantial growth of market between 2019 and 2030. However, complex government rules & regulations monitoring R&D and clinical studies of vaccine are likely to restrain the market to a certain extent.
To obtain better insights regarding the market scenario, prominent players are increasingly focusing on collaborative initiatives with several institutes, research centers, and companies. For instance, In Feb 2018, VARIVAX, a live attenuated varicella-zoster (VZV) vaccine from Merck & Co., Inc, was awarded pre-qualification status by the World Health Organization (WHO). WHO pre-qualification allowed VARIVAX to expand access and provides a greater opportunity to help protect more people from varicella.
Various organizations and government bodies across the globe are spreading awareness about the advantages of immunization & immunization programs in order to improve access to vaccines worldwide. The Global Vaccine Action Plan 2011-2020(GVAP) was introduced by WHO to reach maximum people with existing vaccines.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Varicella Vaccine Market by Product (Monovalent Varicella Vaccine and Combination Varicella Vaccine), Patient Type (Pediatric Patients and Adult Patients) - Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/varicella-vaccine-market/247
Young children are more susceptible to be affected by the varicella virus, especially children with weakened immune systems. Hence, continual growth in the pediatric population along is anticipated to considerably contribute to the growth of the global varicella vaccine market.
However, complex government rules & regulations is one of the major factors hampering the growth of the market. For instance, government imposes stringent regulation to restrict access or transport of essential biological materials from one region to another. Biological materials are the basic requirement for vaccine production.
Asia Pacific is the fastest-growing market for varicella vaccine and is anticipated to contribute significantly to the global market share. The growth in this region can be attributed to the improving healthcare infrastructure and rising awareness related to importance of immunization. Countries in the APAC, such as India, China, and Japan, are anticipated to provide significant growth opportunities for the global varicella vaccine market owing to increasing immunization programs.
Some of the prominent players in the global varicella vaccine market include Merck & Co., Inc., GlaxoSmithKline plc., BIKEN, Green Cross, Zuventus HealthCare Ltd., Sinovac Biotech Ltd., Changchun Baike Biotechnology Co., Ltd., SK chemicals (SK bioscience) and BIO-MED
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