Nasal Vaccines Market to Grow with a CAGR of 6.11% through 2028
Rising infectious disease threats and expanding
geriatric population are factors driving the global Nasal Vaccines market in the forecast period 2024-2028.
According to TechSci Research report, “Nasal
Vaccines Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Nasal Vaccines Market stood
at USD 375.23 million in 2022 and is anticipated to grow with a CAGR of 6.11%
in the forecast period, 2024-2028. The global
healthcare landscape is continually evolving, and one of the most remarkable
developments in recent years has been the emergence of nasal vaccines. Nasal
vaccines, administered through the nose rather than traditional injection
methods, have gained significant attention due to their potential advantages in
terms of ease of administration, improved patient compliance, and effectiveness
in preventing infectious diseases.
One of the primary market drivers for
nasal vaccines is the constant threat posed by infectious diseases. The world
has witnessed outbreaks of diseases such as influenza, COVID-19, and various
respiratory infections. Nasal vaccines offer a promising alternative to
conventional injections, as they provide an efficient means of immunization
against respiratory pathogens. This trend has driven extensive research and
development efforts, leading to an influx of novel nasal vaccine candidates
targeting a wide range of infectious diseases.
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Traditional vaccine administration
methods often involve needles and syringes, which can be a source of discomfort
and fear for many individuals. Nasal vaccines, on the other hand, are
needle-free and less invasive, making them more appealing to patients of all
ages. This improved comfort level contributes to increased vaccine acceptance
and adherence, especially in pediatric and needle-phobic populations.
Technological advancements have played a
pivotal role in driving the development and adoption of nasal vaccines.
Innovations in vaccine formulation and delivery systems have made it possible
to create more stable and effective nasal vaccines. For example, the use of
adjuvants, nanoparticles, and novel antigen delivery systems has improved the
immunogenicity of nasal vaccines, making them a viable option for a wider range
of diseases.
Government initiatives and healthcare
organizations across the globe are recognizing the potential benefits of nasal
vaccines. As a result, there has been an increase in funding and support for
research and development in this field. Nasal vaccines are being incorporated
into national vaccination programs for diseases like influenza, which has
significantly expanded the market. The global population is
aging, and older adults are more susceptible to various infectious diseases.
Nasal vaccines are being developed to address the specific needs of this
demographic, offering an efficient and less invasive means of protection. The
growing geriatric population is, therefore, contributing to the expansion of
the nasal vaccine market. The Global Nasal Vaccines Market is segmented vaccine
type, application, end user and company.
Based on vaccine type, the Live attenuated vaccines segment has
emerged as the predominant market leader. Live attenuated vaccines have played a crucial role in
reducing the burden of infectious diseases worldwide. They provide robust and
long-lasting immunity while posing minimal risk to the vaccinated individual.
These vaccines continue to be a cornerstone of public health strategies,
working to protect individuals and communities against a wide range of deadly
pathogens. As science and technology continue to advance, live attenuated
vaccines may become even more refined and effective in our ongoing battle
against infectious diseases. Based on region, North America segment is expected to
grow during the forecast period. North America has a well-established
healthcare infrastructure that enables efficient distribution and
administration of vaccines. A strong network of healthcare providers,
pharmacies, and vaccination clinics ensures that nasal vaccines can reach a
broad population, contributing to their widespread use. North America
faces its share of health challenges, including seasonal flu outbreaks,
respiratory infections, and emerging infectious diseases. Nasal vaccines, with
their ability to provide rapid and effective immunity, have gained popularity
in the region as a means of combatting these threats.
The Asia Pacific region is experiencing rapid market
growth. Government agencies and public health organizations in
Asia PAcific actively promote vaccination as a crucial tool in disease
prevention. Educational campaigns and vaccination drives have contributed to an
increased awareness of the benefits of nasal vaccines, further driving demand.
Major companies operating in Global Nasal
Vaccines Market are:
- Vaxart, Inc.
- FluGen Inc.
- Altimmune, Inc.
- Sinovac Biotech Ltd.
- Sanofi Pasteur SA
- Pfizer Inc.
- GlaxoSmithKline plc
- Johnson & Johnson
- Ennaid Therapeutics, LLC
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“The global nasal vaccines market is on an upward
trajectory, driven by a convergence of factors that include the need to combat
infectious diseases, advancements in vaccine technology, and the growing demand
for needle-free vaccination options. With a diverse range of vaccine candidates
in development and increasing acceptance among healthcare professionals and
patients alike, the nasal vaccines market is poised for continued growth in the
coming years. As research and development efforts intensify and more vaccines
gain regulatory approval, the future of nasal vaccines appears promising in the
ongoing battle against infectious diseases worldwide.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Nasal Vaccines Market By Vaccine Type ( Live
Attenuated Vaccines, Live Attenuated Vaccines, Subunit, Recombinant, and
Conjugate Vaccines, Others), By Application (Influenza, COVID-19, Others (such
as Cholera, Typhoid, etc.)), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Nasal Vaccines Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Nasal Vaccines Market.
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