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Viral Vaccines Market Pegged for Robust Expansion by 2024

Vaccines are biological preparations, generally produced from living organisms that enhance immunity against a particular disease. Vaccines that prevent occurrence of a disease are called prophylactic vaccines and in some cases, treat diseases are called therapeutic vaccines. A vaccine is usually made from a weakened or killed form of the disease causing microorganism. The four primary types of vaccines are live attenuated vaccines, inactivated vaccines, conjugate vaccines, and toxoid vaccines. Viral vaccines contain killed or attenuated virus or their product that can activate the immune system to produce antibodies against them. The five types of viral vaccines are live whole viral vaccine, killed whole viral vaccine, subunit vaccine (purified or recombinant viral antigen), anti-idiotype antibodies, and DNA vaccine. Live viral vaccines are prepared by reducing virulence of pathogen, but keeping it alive. Killed viral vaccine consist of virus particle grown on culture and then killed by using heat or formaldehyde. Subunit vaccines (purified or recombinant viral antigen) are created by exposing viral particle in bacteria, yeast, or mammalian cell (an alternative application of recombinant DNA technology for production of hybrid virus vaccines). Anti-idiotype antibodies have the ability to mimic foreign antigen approach that leads to their development as vaccine to induce immunity against virus, bacteria, and protozoa in experimental animals. DNA vaccination involves direct introduction of genetically engineered DNA so that cells directly produce an antigen.

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Rise in prevalence of several infectious and non-infectious disease, and technological advancements are projected to drive the global viral vaccines market during the forecast period. Additionally, large number of vaccination programs, government and non-government initiatives, and increase in demand for combined vaccine boost the growth of the market. However, cost associated with storage and transportation of vaccines and limited reimbursement coverage are projected to restrain the global viral vaccines market during the forecast period. Moreover, stringent government regulation for the approval of biological products is likely to hamper the growth of the market in the next few years.

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The global viral vaccines market can be segmented based on type of vaccine, indication type, route of administration, distribution channels, and region. In terms of type of vaccine, the global market can be bifurcated into preventive and therapeutic. Based on indication, the global viral vaccines market can be classified into influenza, hepatitis, chickenpox, smallpox, human papillomavirus infection, measles, mumps, rabies, rubella, polio or poliomyelitis, swine flu, yellow fever, and others. In terms of route of administration, the global market can be divided into oral and injectable. Based on distribution channel, the global viral vaccines market can be classified into online pharmacies, hospital pharmacies, and research institutes.

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In terms of region, the global viral vaccines market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is expected to account for the largest share of the global market from 2018 to 2026, due to increase in initiatives by the United States Department of Health and Human Services (HHS). This is one of the key factors that encourages immunization programs in the U.S. Europe is expected to be the second largest market for viral vaccines during the forecast period, due to rise in prevalence of infectious diseases, government initiatives, and focused product development. The viral vaccines market in Asia Pacific is expected to expand rapidly during the forecast period. Growth of the market in the region is attributed to increase in awareness about prevention of bacterial diseases, rapidly developing health care infrastructure, and surge in adoption of technology in the region.

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Key players operating in the global viral vaccines market are Seqirus A CSL, GlaxoSmithKline plc, Merck & Co., Inc. MedImmune, LLC, Emergent Product Development Gaithersburg, Inc., Novartis, Inc., Protein Sciences Corporation, Sanofi-Aventis U.S. LLC, Sanofi Pasteur, Serum Institute of India Ltd. In 2015, the EU commission approved the merger of Nimenrix and Mencevax vaccines businesses belonging to GlaxoSmithKline.

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