Respiratory Disease Vaccine Market: Top Companies, Industry Size & Share to 2028- TechSci Research
Introduction to the Global Respiratory Disease Vaccine Market
The Global Respiratory Disease Vaccine Market, valued at USD 91.80 billion in 2022, projects a steady growth with a CAGR of 1.18% through 2028, as per the TechSci Research report titled “Global Respiratory Disease Vaccine Market Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028.” This growth trajectory is underpinned by collaborative efforts among industry leaders aiming to amalgamate individual expertise and bolster their market stance.
Driving Forces of Market Growth
Role of Preventive Healthcare Awareness
The escalating awareness of preventive healthcare acts as a significant catalyst driving the demand for vaccines within the global respiratory disease vaccine market. As individuals prioritize proactive measures to maintain well-being, including vaccination, the importance of preventive healthcare gains recognition. Respiratory diseases such as influenza, pneumonia, and respiratory syncytial virus (RSV) are focal points in public health education campaigns led by healthcare organizations, governments, and advocacy groups. These campaigns emphasize the pivotal role of vaccination in shielding individuals and communities against the burden of respiratory diseases. The resultant surge in preventive healthcare awareness correlates with increased adherence to vaccination schedules and annual flu shots, fostering healthier lifestyles that mitigate the risk of respiratory illnesses.
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The Crucial Role of Immunization in Combatting Chronic Respiratory Diseases
Respiratory diseases, often stemming from passive smoking, tobacco use, infections, and exposure to various pollutants, impact lung health significantly. Chronic respiratory diseases specifically target the airways and lung structures, necessitating a focus on efficient preventive measures. While treatment can alleviate symptoms, immunization emerges as the most effective strategy in combatting chronic respiratory ailments.
Recent Market Developments
Pfizer Inc.'s FDA Approval for ABRYSVO? (Respiratory Syncytial Virus Vaccine)
In May 2023, Pfizer Inc. received FDA approval for ABRYSVO? (Respiratory Syncytial Virus Vaccine), a bivalent RSV prefusion F (RSVpreF) vaccine designed to prevent lower respiratory tract disease caused by RSV in individuals aged 60 and above. This unadjuvanted vaccine demonstrates efficacy and safety, utilizing two preF proteins to optimize protection against both RSV A and B strains. The FDA's decision, grounded in pivotal Phase 3 clinical trial data from the RENOIR study, solidifies Pfizer's commitment to addressing respiratory diseases among older adults.
Challenges in the Global Respiratory Disease Vaccine Market
Vaccine Storage and Distribution Challenges
Vaccine storage and distribution pose significant hurdles in the global respiratory disease vaccine market. Maintaining proper storage conditions is pivotal to preserving vaccine efficacy and ensuring safe delivery. Temperature sensitivity, especially for vaccines against influenza and pneumonia, necessitates adherence to specific temperature ranges to retain potency. The cold chain, involving temperature-controlled storage and transportation, is critical for refrigerated or frozen vaccines. Infrastructural gaps in low-resource settings, unreliable electricity, limited refrigeration facilities, and transportation constraints hinder proper vaccine storage and distribution. Reaching remote areas becomes challenging, further complicating the maintenance of the cold chain in such regions.
Market Segmentation and Disease Significance
Segmentation Based on Infections
The Global Respiratory Disease Vaccine Market segments infections into COVID-19, Influenza, Respiratory Syncytial Virus (RSV), Pneumonia, and Others. Respiratory Syncytial Virus (RSV) stands out as a common, highly contagious virus affecting the respiratory system, particularly impacting young children, the elderly, and individuals with weakened immune systems. It spreads through respiratory droplets and surface contact, causing symptoms ranging from cough and runny nose to severe breathing difficulties, particularly in vulnerable populations.
Regional Analysis: Asia Pacific
Asia Pacific claims the largest share in the Global Respiratory Disease Vaccine Market. Improvements in healthcare infrastructure have facilitated vaccine accessibility, addressing respiratory health concerns prevalent due to air pollution and environmental factors. Rapid urbanization and industrialization in countries like China and India have spurred a heightened focus on public health and vaccination. The region boasts a robust pharmaceutical industry, contributing to vaccine availability and affordability.
Who Will Benefit from This Report?
This comprehensive report offers an intricate analysis of the Global Respiratory Disease Vaccine Market, encompassing factors driving market growth, recent developments, prevailing challenges in vaccine storage and distribution, disease significance, market segmentation, regional dynamics, and a diverse spectrum of beneficiaries contributing to and navigating the evolving landscape of respiratory disease prevention through vaccination.
Some of the major companies operating in the Global Respiratory Disease Vaccine Market include:
·???????? GSK plc.
·???????? Johnson & Johnson Services, Inc.
·???????? Pfizer Inc.
·???????? Sanofi SA
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·???????? 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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