The global Live Vaccines Market was worth USD 16.14 billion in 2019 and is projected to expand at a CAGR of 6.6% to reach over USD 26.59 billion by 2027. The market is being driven by the growing prevalence of infectious diseases like polio and varicella, rising awareness among the population, increasing government initiatives, and growing healthcare spending capacity of individuals.
Live vaccines are created by weakening disease-causing viruses or bacteria through repeated culturing. These vaccines create an immune response by replicating the virus or vaccine within the individual's body.
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Increased awareness among the population is one of the positive impacts of governmental initiatives such as the Pulse Polio program of the Indian Government, which has set a goal of vaccinating the entire population against polio. The Global Polio Eradication Initiative is being supported by a combination of public and private funding sources, with an estimated budget of USD 4.2 billion allocated for the period of 2013 to 2019.
There are several key players in the live vaccines market, including:
- Merck Co., Inc.
- Sanofi Pasteur
- GlaxoSmithKline plc
- Pfizer Inc.
- Serum Institute of India Pvt. Ltd.
- Emergent BioSolutions Inc.
- AstraZeneca
- Bavarian Nordic
- CSL Limited
- Indian Immunologicals Limited
Although the Pulse Polio program has been effective, polio is still prevalent in certain countries, including Afghanistan, Nigeria, and Pakistan. Yellow fever, on the other hand, is estimated to be endemic in over 30 African countries and 11 Latin American countries, with roughly 200,000 new cases reported annually. Since the yellow fever vaccine is the only available treatment for the disease, its high prevalence is fueling the growth of the global live vaccines market.
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The emergence of new cases of measles in wealthier European countries like England and Wales has led to a growing market for the measles live vaccine in the region. Live vaccines are preferred because they enhance the individual's own immune response and provide lifetime immunity against the disease with just one dose. Advanced live vaccines, such as live recombinant vaccines, use attenuated viruses or bacteria as vectors to target specific diseases, like smallpox, influenza, hepatitis B, and rabies.
However, the growth of the live vaccines market in the forecast period may be negatively affected by certain factors, such as contraindication in pregnancy and the possibility of complications if individuals are under immunosuppressant medications or have weakened immunity. Additionally, the storage of live vaccines can be challenging.
The global live vaccines market is segmented by type into bacterial and viral vaccines. The viral segment is expected to be the fastest-growing segment with the largest market share, followed by the bacterial segment. The market is also segmented by route of administration, with the injection pathway leading the global market and generating revenue of USD 6.27 billion in 2019. The market is further segmented by application into measles and BCG, with the measles segment accounting for a significant share of the global market in 2019 due to its high prevalence rate worldwide.
North America is the leading region for the live vaccines market, followed by Europe. North America has a large number of research and development centers and biopharmaceutical companies, contributing to its high revenue generation. Asia-Pacific is estimated to be the fastest-growing regional segment, accounting for market revenue of USD 3.44 billion in 2019 and a CAGR of 7.2% during the forecast period, owing to the growing incidence of infectious diseases, significant birth rate in emerging countries of Asia Pacific, improved regulatory framework, strong worldwide distribution network of live vaccines manufacturers, and rising public awareness related to benefits offered by live vaccines in the eradication of infectious diseases.
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