Global Chickenpox (Varicella) Vaccine Market Expected to Grow at a CAGR of 7.8% by 2027
According to a recently published report by Research Nester on “Global Chickenpox (Varicella) Vaccine Market Outlook: Industry Insights & Opportunity Assessment 2019-2027” delivers detailed overview of the global chickenpox (varicella) vaccine market in terms of market segmentation by product type, product application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
With growing awareness towards vaccination against chickenpox, there is an increase in demand for chickenpox (varicella) vaccine. One dose of vaccine prevents 95% of moderate disease and 100% of several diseases. Two doses of vaccine are more effective than one. If it is given to those who are not immune within five days of exposure to chickenpox, it prevents most cases of diseases. Vaccinating a large population means protecting even those who are not vaccinated. Vaccines for chickenpox is mostly given in combination vaccines which helps to prevent three diseases together which is estimated to boost the growth of the chickenpox (varicella) vaccine market with a CAGR of 7.8% during the period 2019-2027.
The global chickenpox (varicella) vaccine market is segmented by product type and product application. By product type, the combination vaccine segment is expected to hold major share over the forecast period. The demand for combination vaccine has gathered pace attributing to the fact that this vaccine helps to prevent three diseases together.
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Rise in Drug Development Activities to Boost the Growth of the Chickenpox Vaccine Market in Future
The global chickenpox (varicella) vaccine market is thriving on the back of rise in drug development activities with the help of technological advancements.
Increasing prevalence of chickenpox
Not every person is vaccinated against chickenpox which increases chances of its occurrence. With increasing prevalence of chickenpox in people –children and adults both, the need to get vaccinated increases which is expected to propel the demand for chickenpox (varicella) vaccine in the market.
North- America is expected to grow significantly on the back of government funding on healthcare facilities. Asia- Pacific is expected to grow at a high rate owing to rising health concerns and continuous developments in the healthcare sector. Latin America and Middle- East are expected to grow significantly attributing to increase in consumption of life saving drugs.
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The cost of these vaccines is high. With increasing technological advancements in the medical sector, the cost of vaccines is expected to increase. The cost of vaccines are high as the price of a vaccine is set keeping in mind its importance, use, expenses for research and development activities and other subsidiary activities which is expected to restraint the growth of the chickenpox (varicella) vaccine market.
This report also provides the existing competitive scenario of some of the key players of the global chickenpox (varicella) market which includes company profiling of Biken, Green Cross, Merck & Co. and GlaxoSmithKline, Changsheng Bio Technology Corporation Ltd., Changchun BCHT Biotechnology Corporation Ltd., Shanghai Institute, Medlmmune, Protein Sciences Corporation and Emergent Biosolutions. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global chickenpox (varicella) vaccine market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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