Live Attenuated Vaccines Market Current Scenario and Future Growth Analysis by 2025
Live attenuation technology is most widely used for vaccine preparation. This factor drives the global Live Attenuated Vaccines Market. Properties of live attenuated vaccines such as oral administration, low cost of production, prevention by pathogen, long-lasting, and high effectiveness drive the market. Tuberculosis is one of the top ten causes of death globally. According to the World Health Organization, in 2015, tuberculosis accounted for 1.8 million deaths and 10.4 million people were living with the disease. Over 95% deaths due to tuberculosis were in middle- or low-income countries. In 2015, an estimated 170,000 children died and 1 million children were ill with tuberculosis. Regulatory hurdles, genetic stability, and environmental risks are likely to restrain the live attenuated vaccine market.
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The global live attenuated vaccines market can be categorized based on product type, age group, end-user, and region. In terms of product type, the market can be divided into viral and bacterial. The viral segment can be further classified into oral polio vaccine (OPV), Vaccinia (smallpox) vaccine, adenovirus oral vaccine (military), yellow fever vaccine, shingles vaccine, varicella (chickenpox) vaccine, influenza vaccine (nasal spray) flumist, rotavirus vaccine, and MMR vaccine. The bacterial segment can be further divided into live cholera vaccine, typhoid oral vaccine, and BCG (tuberculosis) vaccine. Based on age group, the market can be categorized into geriatrics, adults, adolescents, and pediatrics. In terms of end-user, the market can be classified into hospital pharmacies and drug stores.
Geographically, the global live attenuated vaccines market can be segmented into Asia Pacific, Latin America, Europe, North America, and Middle East & Africa. According to the World Health Organization (WHO), measles is one of the major causes of death among young children globally; every hour about 15 deaths occur, each day approximately 367 deaths.
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The disease accounted for 134 200 deaths in 2015. Asia Pacific is anticipated to capture major market share owing to high prevalence of tuberculosis. According to the WHO, India has large number of tuberculosis patients, 60% of the world’s tuberculosis patients are from Asia Pacific, especially from emerging countries such as Pakistan, Indonesia, and China. The market in Middle East & Africa is anticipated to grow during the forecast period owing to increasing number of deaths due to yellow fever. According to the World Health Organization, 32 countries in Africa are at high risk of yellow fever. Hence, demand for live attenuated vaccines is high in the region.
Key players operating in the global live attenuated vaccines market are Serum Institute of India Pvt. Ltd., Merck Sharp & Dohme Corp. (a subsidiary of Merck & Co., Inc.), BioDiem, GlaxoSmithKline plc, Vivaldi Biosciences, Inc., and Codagenix, Inc., among others.
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