The chickenpox vaccine market has demonstrated strong growth, rising from $3.38 billion in 2023 to $3.61 billion in 2024, registering a compound annual growth rate (CAGR) of 6.7%. The growth in the historical period is attributed to vaccine development, regulatory approvals, disease incidence, and the implementation of vaccination policies and public health initiatives. Moving into the next few years, the market size is projected to continue its upward trajectory, reaching $4.64 billion in 2028, with a CAGR of 6.5%. The expected growth in the forecast period is associated with factors such as public perception and trust, pandemic preparedness, ongoing research and development efforts, emerging market demand, and advancements in healthcare infrastructure. Key trends during this period include initiatives for vaccine education campaigns, monitoring adverse events, strategic vaccine pricing, the incorporation of advanced innovation, and the use of artificial intelligence.
Major Driver In The Chickenpox Vaccine Market
The rising prevalence of chickenpox disease is expected to propel the growth of the chickenpox vaccine market going forward. Chickenpox disease, caused by the varicella-zoster virus (VZV), leads to a fluid-filled rash with an itchy rash. Increased cases of chickenpox necessitate more varicella vaccine immunization, thus increasing demand for chickenpox vaccines. For instance, in April 2021, according to a report published by the Centers for Disease Control and Prevention (CDC), in the USA, around 4 million people have chickenpox annually, with over 10,500 of them ending up in hospitals, and between 100 and 150 of them passing away. Therefore, the rising prevalence of chickenpox disease is driving the growth of the chickenpox vaccine market. The chickenpox vaccine market is estimated to be $1.8 billion in 2023, with a projected growth to $2.2 billion in 2024. By 2028, the market is anticipated to reach $3.5 billion.
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Chickenpox Vaccine Market Competitive Landscape
Pfizer Inc., Merck & Co Inc., Novartis AG, Sanofi Pasteur, AstraZeneca plc., GlaxoSmithKline plc, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, CSL Limited, Daiichi Sankyo Company Limited, Mitsubishi Tanabe Pharma Corporation, Zydus Lifesciences Limited, Green Cross Corporation, Sinovac Biotech Ltd., GC Biopharma Corp., Emergent BioSolutions Inc., Bharat Biotech, Novo Medi Sciences Pvt. Ltd., Hualan Biological Engineering Inc., Chongqing Zhifei Biological Products Co. Ltd., Walvax Biotechnology Co. Ltd., Bavarian Nordic A/S, Valneva SE, Serum Institute of India, Shenzhen Kangtai Biological Products Co. Ltd., SK Bioscience Co.Ltd., Biological E. Limited, PanGen Biotech Inc., Bio-Med, Parc-vaccinogène en Instituut Pasteur, Lucky Chemical Industrial Corporation, Biocad India Private Limited, Virchow Biotech Pvt. Ltd.
Key Chickenpox Vaccine Market Trend
Novel drug developments are key trends gaining popularity in the chickenpox vaccine market. Major companies operating in the market are developing novel drugs with improved efficacy, innovative derivatives, and others to sustain their position in the market. For instance, in November 2022, Sinovac Biotech Ltd., a China-based company focused on research, development, and manufacturing of vaccines, stated that the World Health Organization (WHO) granted it prequalification for its live attenuated chickenpox (varicella) vaccine, which is the world's first varicella vaccine to receive prequalification. The Oka strain is the source of the varicella vaccine, which is produced in the exclusive Human Diploid Cell (SV-1 strain) of SINOVAC. This cell is created by cultivating and harvesting the virus, adding stabilizers, and freeze-drying it. A phase III efficacy trial found that the seroconversion rate of the vaccine-embedded children group, aged 1 to 12 years old, was 97.1%; the vaccine's efficacy against varicella and against breakthrough varicella was 87.1% and 89.2%, respectively. The vaccine offers 100 percent defense against mild and serious conditions.
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Chickenpox Vaccine Market Segmentation
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
By Geography:The regions covered in the chickenpox vaccine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the chickenpox vaccine market share in 2023.
The Chickenpox Vaccine Global Market Report 2024 furnishes information about the global chickenpox vaccine market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
