Global Respiratory Virus Vaccines Market Overview
At a time when acute respiratory illnesses are causing mayhem in society, respiratory virus vaccines have never been more sought-after. Fact MR, in its recent study, has analyzed the scope for expansion of the respiratory virus vaccines market, and has forecast it to rise at an above 7% CAGR from 2020 and 2030.
The threat posed by avian influenza to the global population is possibly at an all-time high in recent times. The tightening noose of COVID-19, coupled with the identification of numerous novel respiratory viruses, is underpinning the need for the development of therapeutic and preventive models.
Inventing vaccines is potentially the most crucial step taken towards the prevention of widespread viral infections and the reduction of mortality associated with them.
Against the backdrop of the ongoing pandemic, demand for respiratory virus vaccines is expected to surge exponentially. Fact MR expects the respiratory virus vaccines market size to surpass US$ 14 Bn valuation by the end of 2030.
Respiratory Virus Vaccines Market Insights by Type
Based on type, the respiratory virus vaccines market can be segmented into inactivated/ killed vaccines, live-attenuated vaccines, and recombinant vaccines. Among them, inactive/ killed vaccines currently account for a leading market share. The segment is forecast to remain strong, backed by a slew of launches in this category.
Adoption of robust research programs aimed at developing inactivated vaccine for COVID-19 will bode well for growth in the category as well as the overall market. Demand for vaccines has skyrocketed in the absence of a proper treatment for COVID-19.
Governments and healthcare organizations from around the world are focusing on the discovery potential cure and ways to curb the pandemic. Driven by this, demand witnessed for inactive/ killed vaccines is unlikely to slow down over the coming years.
Respiratory Virus Vaccines Market Insights by Route of Administration
Based on route of administration, the market can be segmented into intramuscular, subcutaneous, and intranasal. Of these, the intramuscular segment is likely to remain dominant throughout the period of forecast.
Respiratory Virus Vaccines Market Insights by Indication
Based on indication, the global market can be classified into mumps & rubella, measles, influenza, coronavirus disease (COVID-19), and others. Of these, the influenza segment currently holds prominence. Rising cases of influenza around the world have made effective vaccination programs highly necessary for children.
Over the coming years, the market will witness rising demand from the COVID-19 segment. In the absence of proper vaccination, governments around the world are leaving no stone unturned to discover a potential cure.
None of them are holding back from investing in research & development (R&D) towards finding a vaccine for the disease. Spurred by the impetus from various governments and healthcare organizations, this category has the potential of skyrocketing over the coming years.
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Respiratory Virus Vaccines Market Insights by Age Group
On the basis of age group, the market can be bifurcated into adults and pediatrics. Of these, the pediatric segment held the maximum share in the market in 2019. However, demand from adults is rising steadily, and will continue scaling heights against the backdrop of the ongoing pandemic.
Respiratory Virus Vaccines Market Insights by End User
Among the end users, which include hospitals, clinics, physician offices, pharmacies, and stores, physician offices are likely to demonstrate considerably high demand for respiratory virus vaccines. Rising penetration of physician offices across remote locations will enable the segment to continue leading the market. Demand from hospitals too is expected to rise significantly over the course of the coming decade.
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Regional Outlook of Respiratory Virus Vaccines Market
The global respiratory virus vaccines market is segmented into five key regions - North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Of these, North America accounts for a leading respiratory virus vaccines market share. Rising cases of influenza, coupled with demand for effective treatment and vaccination, is aiding expansion in this region.
According to the Centers for Disease Control and Prevention (CDC), the U.S. witnesses nearly 20,000 deaths every year due to influenza. Considering this, demand for respiratory virus vaccines will remain high, as the U.S. and other countries within the region focus on embracing effective healthcare solutions.
Europe is forecast to emerge as the second-leading market for respiratory virus vaccines. Growth witnessed in the region is attributable to rising investments in R&D activities to develop a vaccine for COVID-19.
Respiratory Virus Vaccines Market: Key Players
Competition within the global respiratory virus vaccines market is surging in response to rising demand recorded around the world. To strengthen their footprints, manufacturers are likely to adopt inorganic strategies such as product development, mergers & acquisitions, and others.
Efforts towards research & development is expected to surge over the coming years, especially as market players are focusing on promising drug candidates in the pipeline.
This will subsequently aid in the expansion of the market. Some of the leading players operating in the global respiratory virus vaccines market are Bharat Biotech, CSL Limited, AstraZeneca, Sanofi, GlaxoSmithKline plc, Merck & Co., Inc., Serum Institute of India Pvt. Ltd., and Sinovac Biotech Ltd.
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The Analyst’s Viewpoint
“The unprecedented COVID-19 outbreak, coupled with the absence of a vaccine, has created immense scope for research & development within the respiratory virus vaccines market. While there are a few already in the pipeline, some market players are likely to enjoy greater sales proceeds once their vaccines are approved for selling commercially.”
COVID-19 Impact on Respiratory Virus Vaccines Market
The unprecedented outbreak of the novel coronavirus has had a significant impact on the respiratory virus vaccines market, compelling leading stakeholders to engage in research & development in war-like urgency.
For instance, France-based Pasteur Institute has fuelled its R&D efforts to use modified vaccines for measles, to trick a patient’s body into producing antibodies capable of fighting against COVID-19 pathogens.
Besides this, market players are seen tapping into lucrative prospects across diverse segments. Since seasonal influenza causes thousands of hospitalizations in the U.S. each year, companies are tapping into growth prospects within this domain.
With experts recommending greater investments in clinical trials to generate desired immune response, the respiratory virus vaccines market is poised to surge significantly over the coming years.
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Respiratory Virus Vaccines Market: About the Report
Fact.MR has published an exclusive forecast report on the respiratory virus vaccines market for 2020 and 2030. The foremost objective of this report is to offer spearhead insights on the market scenario, demand generators, and technological advancements into the market.
Also, the study addresses key dynamics that are expected to diversify the sales and future prospects of respiratory virus vaccines.
The report on the respiratory virus vaccines market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the respiratory virus vaccines market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key factors favoring investments within the market.
Supply chain analysis and pricing analysis of the market, along with the difference between respiratory virus vaccines used as per application, have also been included in the report, to help readers clearly understand the product framework map in the market.
Respiratory Virus Vaccines Market: Segmentation
Fact.MR has studied the respiratory virus vaccines market with detailed segmentation on the basis of type, route of administration, indication, age group, end-user, and key regions.
- Inactivated/Killed Vaccines
- Live-attenuated Vaccines
- Recombinant Vaccines
Route of Administration
- Measles, Mumps & Rubella
- Coronavirus Disease (COVID-19)
- Measles, Mumps & Rubella
- Coronavirus Disease (COVID-19)
- Physician Offices
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.”
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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