Global Rotavirus Vaccine Market to be augmented by Support from Organizations and Increase in Rotavirus Cases
According to a newly published report by Research Nester on “Global Rotavirus Vaccine Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global rotavirus vaccine market in terms of market segmentation by type, by end users 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.
Data shows that many countries have introduced Rotarix and Rota Teq vaccines in their national immunization program. After the introduction of rotavirus vaccine, there was a swift decline in the severe rotavirus cases in many countries. Estimates show that there is a huge reduction in all-cause diarrhea hospitalizations in high-income countries which ranges from 20 to 50%, in middle-income countries from 17-55% and reduction in rotavirus cases ranging from 49 to 92% in high-income countries, 54 to 59% in middle-income countries and 69 to 81% in low income countries. On account of these estimates, the market is anticipated to record a CAGR of around 12.8% over the forecast period i.e. 2019-2027.
The market is segmented by type into rotarix, rotavac, rotaTeq, rotavin-M1, Lanzhou lamb & others. Two vaccines that have been licensed for use in the U.S. include Rotarix and RotaTeq and are anticipated to have leading shares on account of their wide adoption in various countries.
The market is further segmented by end users into hospitals, clinics, academic & research and others out of which, the hospitals segment is anticipated to have leading market share owing to hospitals being considered more reliable and have large number of suppliers and government support.
North America is anticipated to have leading shares in the global rotavirus vaccines market and the U.S. is expected to have major market share in the region owing to the manufacturers launching innovative products in order to cure rotavirus infection among the children. Europe is expected to be the second largest market owing to penetration of high income and health care. Asia Pacific region is anticipated to be the emerging market and experiencing significant growth during the forecast period on account of rise in government initiatives and favorable government laws in the region. Emerging countries are witnessing rise in the prevalence of rotavirus infection which is offering significant growth opportunities to the rotavirus vaccine manufacturers, this would escalate the market growth.
Growing Rotavirus Infection and Support of Organizations
Rotavirus disease is a highly transmitted disease and spreads very easily among children owing to their poor hygiene. The rotavirus vaccine is a common problem in clinics and hospitals. Various organizations such as UNICEF and GAVI have supported the adoption of rotavirus vaccine in various countries owing to large scale vaccination and accessing the vaccines at lower prices to reduce the cases of infection and leading to a healthy lifestyle.
Organizations working on reducing the costs of the vaccines and improving the health care facilities
The costs of the rotavirus vaccine is high and not affordable by low-income and middle income groups. Additionally, new vaccines invented are more expensive and expenditure pertaining to immunization have risen in the past decades.
This report also provides the existing competitive scenario of some of the key players of the global rotavirus vaccine market which includes company profiling of Glaxo Smith Kline Plc., Merck & Co. Inc., Bharat Biotech, Sanofi, Lanzhou Institute of Biological Products, and Lanzhou Institute of Biological Products
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 rotavirus 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.