Transparency Market Research in its new report titled, “Viral Vaccines Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the Viral Vaccines Market. 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.
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.
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.
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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