Respiratory Disease Vaccine Market to grow with a CAGR of 1.18%
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Global Respiratory Disease Vaccine Market.
According
to TechSci Research report, “Global Respiratory Disease Vaccine Market Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Respiratory Disease
Vaccine Market has valued at USD 91.80 billion in 2022 and is anticipated to
witness an impressive growth in the forecast period with a CAGR of 1.18%
through 2028. This can be due to collaborations and partnerships among leading
companies with a diverse approach to merge the expertise of individual
companies and to strengthen their position in the market.
The
growing awareness of preventive healthcare is a significant driver of the
demand for vaccines in the global respiratory disease vaccine market. Preventive
healthcare emphasizes proactive measures to maintain health and well-being,
including vaccination. As people become more health-conscious, they recognize
the importance of vaccination in preventing respiratory diseases such as
influenza, pneumonia, and respiratory syncytial virus (RSV). Healthcare
organizations, governments, and advocacy groups conduct public health education
campaigns to raise awareness about the benefits of vaccination. These campaigns
highlight how vaccines can protect individuals and communities from the burden
of respiratory diseases. As awareness of the value of preventive healthcare
increases, people are more likely to follow healthcare providers'
recommendations for vaccination. This includes adhering to vaccination
schedules and receiving annual flu shots. People who prioritize preventive
healthcare often adopt healthier lifestyles, which can reduce the risk of
respiratory diseases. However, vaccination remains a crucial component of
comprehensive preventive healthcare. Healthcare facilities and vaccination
clinics play a vital role in promoting preventive healthcare. They offer
convenient access to vaccines, making it easier for individuals to receive
necessary vaccinations.
Respiratory diseases impact the lungs and
various components of the respiratory system, stemming from factors like
passive smoking, tobacco use, infections, exposure to asbestos, and different
forms of air pollution. Chronic respiratory diseases specifically target the
airways and lung structures. While treatment can alleviate symptoms, it does
not provide a cure. Immunization stands out as the most efficient approach to
combat chronic respiratory diseases.
In May 2023, Pfizer Inc. has announced that the U.S.
Food and Drug Administration (FDA) has granted approval for ABRYSVO™
(Respiratory Syncytial Virus Vaccine), Pfizer's bivalent RSV prefusion F
(RSVpreF) vaccine, intended for the prevention of lower respiratory tract
disease caused by RSV in individuals aged 60 and above. ABRYSVO is an
unadjuvanted vaccine comprising two preF proteins carefully chosen to optimize
protection against both RSV A and B strains, demonstrating safety and efficacy.
The FDA's decision is rooted in data obtained from the pivotal Phase 3 clinical
trial (NCT05035212) known as RENOIR (RSV vaccine Efficacy study iNOlder adults
Immunized against RSV disease). RENOIR is a globally conducted, randomized,
double-blind, and placebo-controlled study aimed at evaluating the vaccine's
effectiveness, immunogenicity, and safety when administered as a single dose to
adults aged 60 and older.
Vaccine
storage and distribution pose significant challenges in the global respiratory
disease vaccine market. Proper storage and effective distribution are critical
to maintaining vaccine efficacy and ensuring that vaccines reach their intended
recipients in a safe and timely manner. Many respiratory disease vaccines,
including those for influenza and pneumonia, are sensitive to temperature
fluctuations. They must be stored within a specific temperature range to remain
effective. Deviations from this range can lead to vaccine degradation or loss
of potency. Maintaining a cold chain is essential for vaccines that require
refrigeration or freezing. This involves a series of temperature-controlled
storage and transportation steps from the manufacturer to the end-user. Any
breaks in the cold chain can compromise vaccine quality. In some regions,
especially low-resource settings, there may be infrastructure gaps that hinder
proper vaccine storage and distribution. This includes unreliable electricity
supply, inadequate refrigeration facilities, and limited transportation
resources. Reaching remote and underserved areas with respiratory disease
vaccines can be challenging due to transportation difficulties and limited
access to healthcare facilities. Maintaining the cold chain in such regions is
particularly challenging.
Browse
over XX market data Figures and spread through XX Pages and an in-depth TOC on
"Respiratory Disease Vaccine Market.”
Global Respiratory Disease Vaccine Market is
segmented based on Type, Indication, Distribution Channel, and by region.
Based on Infection,
Global Respiratory Disease Vaccine Market is segmented into COVID-19,
Influenza, Respiratory Syncytial Virus (RSV), Pneumonia, Others. Respiratory
Syncytial Virus (RSV) is a common and highly contagious virus that primarily
affects the respiratory system, especially in young children, the elderly, and
individuals with weakened immune systems. RSV is a leading cause of respiratory
infections, particularly during the fall and winter months. RSV spreads through
respiratory droplets when an infected person coughs or sneezes. It can also
survive on surfaces for several hours, making it easy to transmit through
contact with contaminated surfaces. Common symptoms in infants and young
children include cough, runny nose, sneezing, fever, wheezing, and difficulty
breathing. In older adults, symptoms may resemble a severe cold or flu,
including cough, congestion, fever, and shortness of breath.
Based on Region, Asia Pacific held the largest share in the Global Respiratory Disease Vaccine Market.
Improvements in healthcare infrastructure and access to healthcare services
have made it easier for individuals in the Asia Pacific region to receive
vaccines, including those for respiratory diseases. Some parts of the Asia
Pacific region face challenges related to air pollution and environmental
factors, which can contribute to respiratory health concerns. This may increase
the emphasis on respiratory disease prevention through vaccination. Several
emerging economies in the region, such as China and India, have been witnessing
rapid urbanization and industrialization. This has led to an increased focus on
public health and vaccination. Some countries in the Asia Pacific, including
India, have a robust pharmaceutical industry with expertise in vaccine
manufacturing. This can contribute to the availability and affordability of
respiratory disease vaccines in the region.
Some
of the major companies operating in the Global
Respiratory Disease Vaccine Market include:
- GSK
plc.
- Johnson
& Johnson Services, Inc.
- Pfizer
Inc.
- Sanofi
SA
- Serum
Institute of India Pvt. Ltd.
- SINOVAC
Biotech Ltd.
- Bavarian
Nordic A/S
- Merck
& Co., Inc.
- AstraZeneca
Plc.
- Moderna
Inc.
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“Certain areas, particularly in North
America, are projected to exert significant demand for respiratory disease
vaccines. The growth in the competitive landscape and the presence of
well-established companies in the market, committed to enhance the overall
wellbeing of people each year, are expected to contribute to a remarkable
growth of the Global Respiratory Disease Vaccine Market in the forecast period,"
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based Global management consulting firm.
Respiratory Disease Vaccine Market By Type (Viral Vaccine, Bacterial Vaccine, Combination
Vaccine), By Infection (COVID-19, Influenza, Respiratory Syncytial Virus (RSV),
Pneumonia, Others), By Distribution Channel (Hospital & Retail Pharmacies, Government
Suppliers, Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F has
evaluated the future growth potential of Global Respiratory Disease Vaccine
Market and provides statistics & information on market size, structure, and
future market growth. The report intends to provide innovative 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 Respiratory Disease
Vaccine Market.
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