The global varicella vaccines market is set to expand steadily, with revenue projected to grow from USD 3,258.6 million in 2024 to USD 4,115.4 million by 2034. The market is expected to witness a compound annual growth rate (CAGR) of 2.4% over the forecast period, fueled by increasing public awareness and widespread government immunization initiatives.
Public health campaigns and vaccination programs have played a crucial role in driving demand for varicella vaccines, particularly in densely populated regions where infection rates are higher. The inclusion of these vaccines in national immunization schedules has significantly contributed to reducing the spread of varicella (chickenpox) and herpes zoster.
The development of combination vaccines, which include varicella alongside other immunizations, has further enhanced convenience for parents and improved compliance rates. However, monovalent varicella vaccines continue to dominate the market due to their lower risk of side effects, making them a preferred choice among healthcare providers.
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Key Takeaways
- The varicella vaccines market is projected to grow at a CAGR of 2.4% from 2024 to 2034.
- Market revenue is expected to increase from USD 3,258.6 million in 2024 to USD 4,115.4 million by 2034.
- Government initiatives and public health campaigns are driving vaccination awareness and adoption.
- Combination vaccines enhance convenience, while monovalent vaccines continue to lead due to their lower side effects.
Key Market Drivers
- Increased Awareness and Public Health Campaigns:
- Government initiatives and public health campaigns have significantly raised awareness about the effectiveness of varicella vaccination. Organizations like the WHO and CDC have played vital roles in promoting vaccination, leading to higher acceptance rates among the population.
- Rising Incidence of Varicella Infections:
- The increasing incidence of varicella (chickenpox) infections, particularly in densely populated areas, has heightened the demand for vaccination as a preventive measure.
- Development of Combination Vaccines:
- The introduction of combination vaccines that include varicella alongside other immunizations enhances convenience for parents and increases compliance with vaccination schedules. This trend supports market growth as it simplifies the vaccination process.
- Monovalent Vaccine Preference:
- Monovalent varicella vaccines are contributing significantly to market revenue due to their reduced tendency for side effects compared to combination vaccines. Their inclusion in national immunization programs in many countries helps prevent the spread of chickenpox and herpes zoster.
- Global Immunization Programs:
- Many countries have incorporated varicella vaccines into their standard immunization schedules, driven by efforts to control and eventually eradicate vaccine-preventable diseases.
Market Outlook
- The varicella vaccine market is expected to see continued growth due to the ongoing emphasis on vaccination as a critical public health strategy.
- The monovalent vaccine segment is anticipated to maintain a strong presence due to its efficacy and lower risk of adverse effects.
Key Players of the Varicella Vaccines Industry
- GlaxoSmithKline PLC
- Merck & Co. Inc.
- GC Pharma (Green Cross Holdings)
- Bio-Med Pvt Ltd
- Novo Medi Sciences Pvt Ltd
- Takeda Pharmaceutical Company Limited
- Mitsubishi Tanabe Pharma Corporation
- Sinovac Biotech Ltd.
- Changchun Keygen Biological Products Co., Ltd (CNBG Subsidiary)
- Sinergium Biotech
- SK Bioscience Co., Ltd.
Varicella Vaccines Market Segmentation
By Product:
In terms of product, the industry is segmented into monovalent vaccine and combination vaccine.
By Application:
In terms of application, the industry is bifurcated into chickenpox immunization and herpes zoster immunization.
By End User:
In terms of end users, the industry is segregated into hospitals, clinics, and others.
By Region:
Key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, the Middle East, and Africa have been covered in the report.
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