The global chickenpox vaccine market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Varicella vaccine is called as chickenpox vaccine is the vaccine that protects against chickenpox. The surge in immunization programs globally is a major factor contributing to the growth of the varicella vaccine market. In addition, increased awareness of the use of varicella vaccines and increased acceptance of varicella vaccines across the globe also promote the growth of the chickenpox vaccine market. However, high costs associated with product production limit market growth. On the other hand, the potential for emerging economic growth is expected to create profitable market opportunities during the forecast period.
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According to the Centers for Disease Control and Prevention, chickenpox affects almost every child and has weakened the immune system across the globe. The annual incidence rate is nearby 80-90 million cases. Due to the increase in vaccination programs, the burden of disease is likely to decrease in the forecast period. An increase in the volume of policy purchases by government suppliers has led to a demand for the product which has led to an increase in company sales. As the varicella virus is highly contagious, immunizations of newborns are highly recommended by the WHO. Therefore, due to the owing continuous demand maintaining supply balance is a major priority for manufacturers.
With the rising prevalence of diseases, drug development companies are spending more to manufacture drugs that are more effective and cost-efficient so that people prefer to buy them. It is expected to boost the growth of the chickenpox vaccine market during the forecast period. For instance, in August 2020, during the epidemic, GSK announced the launch of a DTC campaign for the Shingrix vaccine targeted against the geriatric population for the vaccination against varicella-zoster virus.
Additionally, in December2019, Sinovac Biotech Ltd. announced the approval from China National Products Administration for the chickenpox vaccine indicated against the varicella-zoster virus for children aged 1 to 12 years old.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Vaccine
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Bio-Med Pvt. Ltd., GlaxoSmithKline Plc, Merck & Co. Inc., Novo Medi Sciences Pvt. Ltd., and Takeda Pharmaceutical Co. Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Chickenpox Vaccine Market Report by Segment
By Vaccine
- Monovalent Chickenpox Vaccine
- Combination Chickenpox Vaccine
By Application
- Chickenpox Immunization
- Herpes Zoster Immunization
- Mumps, Measles, Rubella, and Varicella Immunization
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