Press Release

India Coronavirus Vaccine Market to grow with a CAGR of 5.00%

Increasing healthcare infrastructure and a supportive regulatory environment are the major drivers for the India Coronavirus Vaccine Market.

 

According to TechSci Research report, “India Coronavirus Vaccine Market Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, India Coronavirus Vaccine Market is anticipated to witness an impressive growth in the forecast period with a CAGR of 5% through 2029.  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. A large population drive the demand for coronavirus vaccines. In a densely populated area, the risk of virus transmission is higher, and the potential for outbreaks and the rapid spread of the virus is more significant. This increased risk motivates a larger portion of the population to seek vaccination for protection. Achieving herd immunity, where a sufficient percentage of the population is immune to the virus, is essential for curbing its spread. In a large population, a larger number of people must be vaccinated to reach this goal, which drives higher demand. The presence of a large population often results in more extensive public awareness campaigns. The promotion of vaccination at a mass scale encourages individuals to seek vaccines. In areas with large populations, the economic impact of the pandemic can be more significant. Widespread vaccination is crucial to reopening businesses and returning to normal economic activities. In a large population, there are more individuals in vulnerable groups, such as the elderly and those with underlying health conditions. These individuals are more likely to seek vaccination, further driving demand.

 

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In January 2023, India introduced the iNCOVACC vaccine, developed by Bharat Biotech. iNCOVACC is administered in the form of nasal drops, and it triggers an immune response in the tissues lining the nasal cavity. Scientists suggest that nasal vaccines may provide additional protection in the nasal passages and upper respiratory tract, where the SARS-CoV-2 virus typically enters the body. In November, India's drug regulator granted approval for the use of iNCOVACC as a heterologous booster dose. This serves as a booster for individuals who had previously received two doses of either Covishield or Covaxin, the two primary Indian vaccines, especially in emergency situations among adults. In December, the drug regulator also approved iNCOVACC for use as both a primary vaccine and a subsequent booster shot for adults.

Production scaling has been a significant challenge in the India Coronavirus Vaccine Market, as in many other parts of the world. Expanding vaccine production requires infrastructure, equipment, and resources, including manufacturing facilities, cleanrooms, and specialized machinery. The construction and equipping of new facilities can be time-consuming and costly. Scaling up production often necessitates a skilled and trained workforce, including technicians, quality control experts, and logistics personnel. Training and recruitment can be challenging. Securing a consistent and reliable supply of raw materials, including bioreactor components, growth media, and vials, can be difficult. Global shortages or disruptions in the supply chain can hamper production. Maintaining stringent quality control standards is crucial in vaccine production. Ensuring that the production process consistently meets these standards can be challenging as production scales up. Certain vaccines require specific temperature conditions for storage and transportation. Scaling up production must be accompanied by a corresponding expansion of the cold chain infrastructure to maintain vaccine integrity.

India Coronavirus Vaccine Market is segmented based on Type, Patient Type, End-user, and by region.

Based on the Type, India Coronavirus Vaccine Market is segmented into mRNA Based, Non-Replicating Viral Vector Based, Inactivated Vaccine. An inactivated vaccine, also known as a killed or inactivated virus vaccine, is a type of vaccine that uses a virus that has been rendered non-infectious or non-replicating. Inactivated vaccines are designed to stimulate an immune response in the body without causing the disease they protect against. In the development of inactivated vaccines, the disease-causing virus is cultured and then treated in a way that renders it incapable of causing disease. This inactivation can be achieved through various methods, such as heat, chemicals, or radiation. While the virus is inactivated, the structural components of the virus, known as antigens, are preserved. Antigens are the parts of the virus that trigger the immune system's response. The inactivated virus is introduced into the body through a vaccine. When the immune system encounters these preserved antigens, it recognizes them as foreign invaders and mounts an immune response to neutralize them. The immune response generated by an inactivated vaccine includes the production of antibodies, which are proteins that can bind to and neutralize the virus. In addition to antibodies, cellular immune responses may also be triggered.

Based on Region, North India held the largest share in the India Coronavirus Vaccine Market. The distribution of vaccines often aligns with population density and the prevalence of COVID-19 cases. This means that areas with higher population densities and infection rates might receive more vaccines. Regions with stronger healthcare infrastructure and vaccination centers may have an advantage in terms of vaccine distribution and administration. The ability to maintain the cold storage requirements of certain vaccines, like those with ultra-low temperature requirements, could influence distribution strategies and vaccine allocation.

 

Some of the major companies operating in the India Coronavirus Vaccine Market include:

  • Serum Institute of India Pvt. Ltd
  • Bharat Biotech International Ltd.
  • Zydus Cadila Ltd.
  • Pfizer India Ltd
  • Panacea Biotec Ltd
  • Indian Immunologicals Ltd
  • Mynvax Pvt. Ltd.
  • Biological E Ltd.,
  • Hetero Biopharma Ltd.
  • Dr Reddy's Laboratories Ltd.

 

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“Certain areas, particularly in North America, are projected to exert significant demand for Coronavirus Vaccine. 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 India Coronavirus Vaccine Market in the forecast period," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

India Coronavirus Vaccine Market by Type (mRNA Based, Non-Replicating Viral Vector Based, Inactivated Vaccine), By Patient Type (Adult v/s Pediatric), By End User (Hospitals, Clinics, Research Institutes, Others), By Region, By Competition Forecast & Opportunities, 2019-2029F has evaluated the future growth potential of India Coronavirus 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 India Coronavirus Vaccine Market.


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