Inactivated Vaccine Market –Regional Insights
On the basis of region, theglobal InactivatedVaccine Market is segmented into North America, Latin America, Europe, AsiaPacific, Middle East, and Africa. North America holds the dominant position inthe global inactivated vaccines market, owing to the presence of key marketplayers in this region, especially in the U.S. Moreover, favorable governmentsupport towards the growth of healthcare sector is also likely to acceleratethe growth of inactivated vaccine market revenue in this region. For instance,in 2016, the U.S. Department of Health and Human Services shifted fund ofaround US$ 81 million from other projects, to continue the work on developingvaccines to fight Zika virus. Asia Pacific is expected to witness growth in themarket, followed by Europe, owing to growing activities in the healthcareresearch and development of new innovative products. For instance, in 2013,Bharat Biotech launched JENVAC vaccine to provide long-term protection andimmunogenicity against Japanese encephalitis. The important benefit of thisnovel fully indigenous inactivated vaccine is that it can be administeredduring disease epidemics, as it is an inactivated vaccine and is highlypurified.
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A biological preparation that isused to provide active acquired immunity to a particular disease are called asvaccines. Vaccines are commonly of four types: live-attenuated vaccines, toxoidvaccines, subunit vaccines, and inactivated vaccines. Inactivated vaccines arecreated by inactivating a virus, bacteria or pathogens with the treatment ofchemical (formaldehyde) or heat. These pathogens are grown in controlledculture condition and are killed to reduce their infectivity. Inactivatedvaccines are not as effective as live-attenuated vaccines. Multiple boostershots and immunologic adjuvants are required to provide an effective immuneresponse against the diseases. Inactivated vaccines are on the U.S. RecommendedChildhood Immunization Schedule, which includes the seasonal influenza vaccineand inactivated polio vaccine. Less immunogenicity of older vaccines arepropelling demand for newly developed innovative vaccines with better efficacy.Researchers and market players are investing in R&D for the development ofsafe and effective vaccines, thereby boosting growth of the inactivatedvaccines market.
Inactivated Vaccine Market –Dynamics
Introduction of new inactivatedvaccines after completion of clinical studies are expected to boost growth ofthe inactivated vaccines market over the forecast period. For instance, in2017, Merck’s investigational inactivated varicella zoster virus vaccine (V212)showed a decrease in the incidence of herpes zoster case by an estimated 64% inimmunocompromised subjects in the first phase 3 trial. Clinical studies alsorevealed that V212 lessens the incidence of herpes zoster pain by around 69.5%.Moreover, V212 demonstrated 83.7% reduction in the incidence of post herpeticneuralgia. Rising prevalence of various viral and bacterial diseases around theglobe have increased the demand for inactivated vaccines, which in turn willfuel the market growth. For instance, according to the World HealthOrganization (WHO) report in 2018, annual epidemics due to influenza wereestimated to result in around 3 to 5 million cases of severe illness and around290,000 to 650,000 deaths. Moreover, WHO 2018 report also showed that around 21million cases and 222,000 typhoid-related deaths occur annually worldwide.
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Inactivated Vaccine Market –Competitive Landscape
Major players operating in theglobal inactivated vaccine market include GlaxoSmithKline Plc, Seqirus, ValnevaSE, Pfizer Inc., Merck & Co., Inc., Emergent BioSolutions, Bharat Biotech,and Sanofi. Major market players are involved in adopting market strategiessuch as mergers, acquisitions, partnership, collaborations, and development ofnew products with leading companies and research institutes, in order to retaindominant position in the market. For instance, in 2017, the U.S. Food and DrugAdministration (FDA) approved GlaxoSmithKline Plc’s Shingrix, a zoster vaccinerecombinant for the prevention of shingles in adults above the age of 50 years.Shingrix is a non-live, recombinant subunit vaccine given intramuscularly intwo doses.
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