Inactivated Vaccine Market Growth, Size & Share

 

Up to now, several Inactivated Vaccine Market have been developed against alarming diseases such as for instance Rabies, Polio, Influenza, Hepatitis A, etc. and they provide excellent protection. An inactivated vaccine contains virus particles, bacteria, and other pathogens that have evolved in culture and are then killed to destroy disease producing capacity. These vaccines might be administered alongside adjuvants to improve the immune response produced. The growth of the inactivated vaccine market is majorly related to the high prevalence of infectious diseases, growing government support for vaccine development, increasing research and development initiatives, and the rising concentrate on immunization.

For example, in July 2020, Valneva SE announced it reached an agreement in principle with the U.K. government to provide around 100 million doses of its VLA2001 SARS-CoV-2 (COVID-19) vaccine candidate. Moreover, included in its broader COVID-19 response, Valneva planned to further spend money on its manufacturing facility in Scotland, and Sweden. The Inactivated Vaccine Market has gained an enormous traction because of the emergence of SARS-CoV-2 (COVID-19). With the increasing number of cases, the demand for vaccine is also increasing. Based on the World Health Organization (WHO), worldwide, as of 11:15am CET, 12 March 2021, there has been 118,058,503 confirmed cases of COVID-19, including 2,621,046 deaths.

Consequently, many pharmaceutical companies around the globe are dedicated to developing safe and effective vaccine to curb the spread of the coronavirus. For example, in August 2020, Sinovac Biotech received emergency use approval for its potential COVID-19 vaccine CoronaVac in China. The company started developing the inactivated vaccine against COVID-19 in January 2020 in alliance with academic research institutes in China. Moreover, in July 2020, China-based pharmaceutical company Sinopharm initiated a Phase III clinical trial to assess its Covid-19 vaccine candidate in Abu Dhabi, UAE. The candidate was reported to be the world's first inactivated vaccine to enter a Phase III trial.

Based on the WHO report, as of 10 March 2021, a complete of 300,002,228 vaccine doses have been administered, worldwide. The above-mentioned factors or such initiatives are expected to drive the Inactivated Vaccine Market growth. Furthermore, the inactivated vaccine market is gaining traction because of the increasing prevalence of infectious diseases and rising concentrate on immunization programs worldwide. For example, in February 2020, Abbott launched a new inactivated quadrivalent vaccine for influenza, the first of its kind sub-unit vaccine offering protection against four virus strains, in India. It's the sole flu vaccine in India that's been approved for used in children below 3 years.

However, the huge capital investments required for developing vaccines may restrain the inactivated vaccine market growth.