What Has Been the Progress and Growth of the Chickenpox Vaccine Market in Recent Years?
The chickenpox vaccine market has seen considerable growth due to a variety of factors.
• The market for chickenpox vaccines has witnessed robust growth in recent times. The size of the market is projected to swell from $3.57 billion in 2024 to $3.8 billion in the following year, epitomizing a compound annual growth rate (CAGR) of 6.6%.
Factors attributable to the growth during the historic period include developments in vaccine production, obtaining regulatory approvals, disease prevalence, vaccination implementation strategies, and initiatives focused on public health.
What is the Forecasted Market Size and CAGR for the Chickenpox Vaccine Market?
The chickenpox vaccine market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of the chickenpox vaccine is anticipated to witness substantial expansion in the coming years. A rise to $4.93 billion is expected by 2029, with a compound annual growth rate (CAGR) of 6.7%.
Numerous factors such as public trust and perception, readiness for pandemics, research and development activities, demand from emerging markets, and advancement in healthcare infrastructure can drive this growth during the forecast period. Among the significant trends predicted for this period are educational campaigns about vaccines, monitoring for negative events, pricing strategies for vaccines, innovative developments, and the utilization of AI.
What Are The Primary Growth Drivers In The Chickenpox Vaccine Market?
The chickenpox vaccine market is expected to grow due to the increasing cases of chickenpox disease. Chickenpox is a severe infectious illness, caused by the varicella-zoster virus (VZV), which results in an itchy, fluid-filled rash. The rise in chickenpox cases necessitates greater varicella vaccine immunization, thereby leading to increased demand for the vaccine. A report published by the National Library of Medicine (NLM), a US-based biomedical library, in October 2023, revealed that from September 2016 to December 2022, a study on GP consultations for chickenpox showed an average weekly rate of 3.4 per 100,000 people in England, peaking typically between weeks 13 and 15 each year. However, the COVID-19 pandemic affected these typical epidemic peaks due to imposed social distancing and lockdowns. Nonetheless, in 2022, the consultation rates for children under one year old were higher than that of pre-pandemic years, suggesting disrupted transmission patterns. Therefore, the surging cases of chickenpox disease are boosting the expansion of the chickenpox vaccine market.
What Are The Principal Market Segments In The Global Chickenpox Vaccine Healthcare Industry?
The chickenpox vaccine market covered in this report is segmented –
1) By Vaccine: Monovalent Varicella Vaccine, Combination Varicella Vaccine
2) By Application: Mumps, Measles, Rubella, And Varicella Immunization, Herpes Zoster Immunization, Chickenpox Vaccination
3) By End-Users: Hospitals, Clinics, Other End-Users
Subsegments:
1) By Monovalent Varicella Vaccine: Live Attenuated Varicella Vaccine
2) By Combination Varicella Vaccine: Measles, Mumps, Rubella, And Varicella (MMRV) Vaccine
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Which Emerging Market Trends Are Altering The Chickenpox Vaccine Market?
The primary trend emerging in the chickenpox vaccine market is the invention of novel drugs. Established companies in the sector are introducing innovative drugs with enhanced efficiency, new derivatives, and other features to maintain their market standing. For example, in November 2022, the World Health Organization (WHO) prequalified a live attenuated chickenpox (varicella) vaccine produced by Sinovac Biotech Ltd., a China-based vaccine research, development, and production company. This was the first varicella vaccine globally to acquire such a distinction. The varicella vaccine is derived from the Oka strain and manufactured in SINOVAC's exclusive Human Diploid Cell (SV-1 strain). The process involves growth and gathering of the virus, addition of stabilizers, and subsequent freeze-drying. A phase III efficacy study revealed a 97.1% seroconversion rate in the vaccine group, consisting of children aged 1 to 12 years. Additionally, the vaccine showed an 87.1% and 89.2% efficiency against varicella and breakthrough varicella, respectively, and the vaccine provided complete protection against both mild and severe disease states.
Who Are the Key Players in the Chickenpox Vaccine Market?
Major companies operating in the chickenpox vaccine market include:
• Merck & Co.
• Sanofi Pasteur
• Takeda Pharmaceutical Company Limited
• CSL Limited
• Pfizer Inc.
• Seqirus
• Serum Institute of India Pvt. Ltd.
• Bharat Biotech
• Emergent BioSolutions Inc.
• Hualan Biological Engineering Inc.
• Shenzhen Kangtai Biological Products Co. Ltd.
• Chongqing Zhifei Biological Products Co. Ltd.
• Beijing Minhai Biotechnology Co. Ltd.
• Adimmune Corporation
• Biological E. Limited
• Walvax Biotechnology Co. Ltd.
• Zydus Cadila
• Indian Immunologicals Ltd.
• Panacea Biotec Ltd.
• Bio Farma
• PT Kalbe Farma Tbk
• CanSino Biologics
What are the Regional Insights into the Chickenpox Vaccine Market?
North America was the largest region in the chickenpox vaccine market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chickenpox vaccine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
