As per the report, the global varicella live vaccine industry was estimated at $2.71 billion in 2018, and is expected to hit $4.22 billion by 2026, registering a CAGR of 5.7% from 2019 to 2026.
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Drivers, restraints, and opportunities:
Increase in immunization programs across the world, surge in awareness regarding use of varicella live vaccines, and rise in adoption of varicella live vaccines fuel the growth of the global varicella live vaccine market. On the other hand, significant monetary inputs associated with the production restrains the growth to certain extent. Nevertheless, high growth potential in emerging economies are expected to create a number of lucrative opportunities for the key players in the industry.
The monovalent varicella vaccine segment to lead the trail by 2026:
Based on product, the monovalent varicella vaccine segment contributed to nearly two-thirds of the global varicella live vaccine market share in 2018 and is expected to dominate during the study period. Easy availability of the product and surge in government vaccination guidelines propel the growth of the segment. The same segment is also anticipated to grow at the fastest CAGR of 5.9% throughout 2019–2026. The research also analyzes the monovalent varicella vaccine segment.
The chickenpox immunization segment to rule the roost:
Based on application, the chickenpox immunization segment accounted for nearly three-fifths of the global varicella live vaccine market revenue in 2018 and would retain its dominance during the estimated period. This is due increase in awareness regarding the importance of chicken pox immunization across the world. The herpes zoster segment, on the other hand, is projected to register the fastest CAGR of 9.8% from 2019 to 2026. Herpes zoster, as a secondary infection mostly affects geriatric patients and rise in the geriatric population worldwide have fueled the growth.
North America garnered the lion's share:
Based on geography, North America held the major share in 2018, garnering more than two-fifths of the global varicella live vaccine market. This is attributed to easy availability of the healthcare chatbots service. Simultaneously, the region across Asia-Pacific would cite the fastest CAGR of 7.0% throughout the forecast period. This is due to rise in awareness regarding the importance of immunization and increase in disposable income of individuals in the province.
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Frontrunners in the industry-
- Changchun BCHT Biotechnology Co. Ltd.
- Emcure Pharmaceuticals Limited
- Bio-Med Pvt. Limited
- Mitsubishi Chemical Holdings Corporation (Mitsubishi Tanabe Pharma Corporation)
- Green Cross Holdings (GC Pharma)
- Merck & Co. Inc.
- Sanofi
- Novo Medi Sciences Pvt. Ltd.
- Takeda Pharmaceutical Company Limited
- GlaxoSmithKline plc
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