Inactivated Vaccine Market 2019 Size – Global Players, Top Trends, Competitive Players, Major Drivers, Key Regions, Mergers and Forecast To 2026
A biological preparation used to provide active acquired immunity to a particular disease are called as vaccines. Vaccines are of four types; live-attenuated vaccines, toxoid vaccines, subunit vaccines, and inactivated vaccines. Inactivated vaccines are prepared by inactivating a virus, bacteria or pathogens with the treatment of chemical (formaldehyde) or heat. These pathogens are grown in controlled culture condition and are killed to reduce their infectivity. Inactivated vaccines are not as effective as live-attenuated vaccines. Multiple booster shots and immunologic adjuvants are required to provide an effective immune response against the diseases. Inactivated vaccines are on the U.S. Recommended Childhood Immunization Schedule, which include seasonal influenza vaccine and inactivated polio vaccine. Less immunogenicity of older vaccines are expected to propel demand for new developed innovative vaccines with better efficacy. Researchers and market players are investing in R&D for the development of safe and effective vaccines, thereby boosting growth of the inactivated vaccines market.
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Inactivated Vaccine Market – Dynamics
Introduction of new inactivated vaccines after completion of clinical studies are expected to boost growth of the inactivated vaccines market over the forecast period. For instance, in 2017, Merck’s investigational inactivated varicella zoster virus vaccine (V212) showed a decrease in the incidence of herpes zoster case by an estimated 64% in immunocompromised subjects in the first phase 3 trial. Clinical studies also revealed that V212 lessens the incidence of herpes zoster pain by around 69.5%. Moreover, V212 demonstrated 83.7% reduction in the incidence of post herpetic neuralgia. Rising prevalence of various viral and bacterial diseases around the globe are expected to drive demand for inactivated vaccines, which, in turn, is expected to fuel the market growth. For instance, according to the World Health Organization (WHO) report in 2018, annual epidemics due to influenza were estimated to result in around 3 to 5 million cases of severe illness and around 290,000 to 650,000 deaths. Moreover, WHO 2018 report also stated that around 21 million cases and 222,000 typhoid-related deaths occur annually worldwide.
Inactivated Vaccine Market – Regional Insights
On the basis of region, the global inactivated vaccine market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the global inactivated vaccines market, owing to presence of key market players in this region, especially in the U.S. Moreover, favorable government support towards the growth of healthcare sector is expected to accelerate growth of inactivated vaccine market revenue in this region. For instance, in 2016, the U.S. Department of Health and Human Services shifted fund of around US$ 81 million from other projects, to continue work on developing vaccines to fight Zika virus. Asia Pacific is expected to witness significant growth in the market, followed by Europe, owing to growing activities in the healthcare research and development of new innovative products. For instance, in 2013, Bharat Biotech launched JENVAC vaccine to provide long-term protection and immunogenicity against Japanese encephalitis. The most important benefit of this novel fully indigenous inactivated vaccine is that it can be administered during disease epidemics, as it is an inactivated vaccine and is highly purified.
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Inactivated Vaccine Market – Competitive Landscape
Major players operating in the global inactivated vaccine market include GlaxoSmithKline Plc, Seqirus, Valneva SE, Pfizer Inc., Merck & Co., Inc., Emergent BioSolutions, Bharat Biotech, and Sanofi.
Major market players are involved in adopting market strategies such as mergers, acquisitions, partnerships, collaborations, approvals, and development of new products with leading companies and research institutes, in order to retain dominant position in the market. For instance, in 2017, the U.S. Food and Drug Administration (FDA) approved GlaxoSmithKline Plc’s Shingrix, a zoster vaccine recombinant for the prevention of shingles in adults above the age of 50 years. Shingrix is a non-live, recombinant subunit vaccine given intramuscularly in two doses.
Inactivated Vaccine Market – Taxonomy
On the basis of vaccine type, the global inactivated vaccine market is segmented into:
- Viral Vaccine
- Bacterial Vaccine
On the basis of method of inactivation, the global inactivated vaccine market is segmented into:
- Solvent Detergent Method
- Radiation Method
- pH Concentration
- Heat Inactivation
On the basis of route of administration, the global inactivated vaccine market is segmented into:
On the basis of region, the global inactivated vaccine market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East
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