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Human Rotavirus Vaccine Market Report Overview
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global human rotavirus vaccine market size was USD 7209.2 million in 2022 and market is projected to touch 12408.9 Million by 2031, exhibiting a CAGR of 6.2% during the forecast period.
The human rotavirus vaccine is an immunization designed to protect against rotavirus infection, a leading cause of severe diarrhea in infants and young children worldwide. The vaccine is administered orally and is composed of weakened or attenuated strains of the virus. These strains are genetically modified to reduce their ability to cause illness while still stimulating the immune system to produce a protective response. The vaccine works by triggering the production of specific antibodies in the body, which can recognize and neutralize the rotavirus. When a vaccinated individual comes into contact with the actual virus, their immune system is primed to quickly respond, preventing the virus from causing severe symptoms or complications. The Human Rotavirus Vaccine is typically given to infants in a series of doses, starting at around six weeks of age. The number of doses and the schedule may vary depending on the specific vaccine used.
The human rotavirus vaccine market is a growing segment within the global vaccine industry. Rotavirus is a leading cause of severe diarrhea and dehydration in infants and young children worldwide. The introduction of rotavirus vaccines has significantly reduced the burden of rotavirus-related illnesses and mortality. The market is characterized by the presence of both licensed vaccines and those under development.
COVID-19 Impact: Pandemic Led to Disruptions in The Healthcare Infrastructure Impeding the Market Growth
The Covid-19 pandemic has had a significant impact on the healthcare industry, including the human rotavirus vaccine market. The pandemic led to disruptions in the healthcare infrastructure, diversion of resources, and reprioritization of vaccine development efforts towards Covid-19 vaccines. As a result, there may have been delays in the implementation of routine immunization programs, including rotavirus vaccination. Additionally, there may have been challenges in vaccine supply chains and distribution networks, affecting the availability and access to rotavirus vaccines in certain regions. However, it is important to note that the long-term impact of the Covid-19 pandemic on the human rotavirus vaccine market is still evolving. Efforts are being made to ensure the continuity of routine immunization programs and to address any gaps in vaccination coverage caused by the pandemic.
Latest Trends
"Increasing Adoption of Vaccination Programs by Various Countries to Boost the Market Development"
Governments and healthcare organizations are recognizing the value of rotavirus vaccination in reducing the burden of rotavirus-related diseases. This trend is particularly evident in developing countries where the incidence and impact of rotavirus infections are higher. Another trend is the ongoing research and development activities aimed at improving the efficacy and safety of rotavirus vaccines. Researchers are exploring novel vaccine formulations, adjuvants, and delivery methods to enhance the immune response and increase vaccine coverage. The development of affordable and accessible vaccines suitable for use in resource-limited settings is also a focus of ongoing efforts.
Human Rotavirus Vaccine Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Rotarix, RotaTeq, Rotavac, Rotavin-M1, Lanzhou lamb, Others. Rotarixbeing the leading segment of the market by type analysis.
- By Application Analysis
Based on application, the market can be divided into Hospitals & Clinics, Academic and Research, Others. Hospitals & Clinicsbeing the leading segment of the market by application analysis.
Driving Factors
"Growing Awareness About the Benefits of Rotavirus Vaccination to Drive the Market Growth"
Increased awareness about the burden of rotavirus-related diseases and the availability of effective vaccines has been a major driver of the human rotavirus vaccine market. Healthcare professionals, parents, and caregivers are recognizing the importance of vaccination in preventing severe diarrhea and related complications in children. Public health campaigns and educational initiatives have played a crucial role in promoting rotavirus vaccination. Over the years, concerted efforts have been made to raise awareness about the significant impact of rotavirus infection on child health. Public health agencies, non-profit organizations, and healthcare providers have collaborated to disseminate information on the burden of rotavirus-related diseases, including the high incidence of hospitalizations and deaths among infants and young children. They have highlighted the effectiveness of rotavirus vaccines in reducing the severity of rotavirus infections and preventing associated complications.
"Supportive Government Policies and Immunization Programs to Drive the Market Development"
The support and investment from governments in implementing national immunization programs have been instrumental in driving the human rotavirus vaccine market. Many countries have incorporated rotavirus vaccination into their routine immunization schedules, either through public funding or by including the vaccine in national healthcare systems. Government policies and partnerships with international organizations have facilitated the procurement, distribution, and administration of rotavirus vaccines. Governments worldwide have recognized the public health significance of rotavirus vaccination and its potential to reduce the burden of rotavirus-related diseases. They have implemented supportive policies that aim to ensure the availability, accessibility, and affordability of rotavirus vaccines. These policies often include provisions for funding and subsidizing the cost of vaccines, as well as guidelines for vaccine procurement and distribution.
Restraining Factors
"Cost of Vaccines and The Affordability for Lower-Income Countries to Hamper the Market Growth"
Rotavirus vaccines, particularly the newer formulations, can be relatively expensive, making it challenging for some countries to incorporate them into routine immunization programs. The high cost of rotavirus vaccines is mainly attributed to the extensive research and development process, production complexities, and quality assurance measures involved in vaccine manufacturing. These factors contribute to the overall production cost and subsequently affect the final pricing of the vaccines. Recognizing the importance of rotavirus vaccination in reducing the burden of rotavirus-related diseases, efforts are being made by vaccine manufacturers, governments, and international organizations to address the challenge of affordability.
Human Rotavirus Vaccine Market Regional Insights
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"Supportive Government Policies in North America to Bolster the Market Development in the Region"
The human rotavirus vaccine market in North America is well-established and continues to grow due to several factors. Firstly, supportive government policies play a crucial role in driving the market. National immunization programs in countries like the United States and Canada have included rotavirus vaccination in their routine childhood immunization schedules. These policies ensure that a large proportion of children receive the vaccine, contributing to high vaccination coverage rates. Furthermore, there is a high level of awareness about vaccination in North America. Healthcare professionals, parents, and caregivers are well-informed about the benefits of rotavirus vaccination in preventing severe diarrhea and its associated complications. Public health campaigns, educational initiatives, and the dissemination of accurate information have all contributed to the strong awareness levels. This awareness has led to a positive attitude towards vaccination, further boosting the demand for rotavirus vaccines in the region.
The Asia Pacific region represents a significant growth opportunity for the human rotavirus vaccine market due to various factors. Firstly, the high burden of rotavirus-related diseases in countries such as India and China have compelled governments to prioritize rotavirus vaccination. These countries have witnessed a significant number of hospitalizations and deaths due to rotavirus infections, leading to increased recognition of the need for preventive measures. Governments in the region have made substantial investments in healthcare infrastructure to improve healthcare delivery, including vaccination programs. Enhanced healthcare facilities, expanded immunization coverage, and strengthened cold chain systems have contributed to the successful implementation of rotavirus vaccination initiatives. This commitment from governments has created a conducive environment for the growth of the human rotavirus vaccine market in the region.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled Players
- Bharat Biotech (India)
- Merck (Germany)
- GlaxoSmithKline (U.K.)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 7209.2 Million in 2022 |
Market Size Value By |
US$ 12408.9 Million by 2031 |
Growth Rate |
CAGR of 6.2% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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1. What value is the human rotavirus vaccine market expected to touch by 2031?
The global human rotavirus vaccine size is expected to reach USD 12408.9 Million by 2031.
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2. What CAGR is the human rotavirus vaccine market expected to exhibit by 2031?
The human rotavirus vaccine is expected to exhibit a CAGR of 6.2% by 2031.
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3. Which are the driving factors of the market?
Growing awareness about the benefits of rotavirus vaccination and Supportive government policies & immunization programs are the driving factors of the market.
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4. Which are the key players or most dominating companies functioning in the market?
The dominating companies in the market are Bharat Biotech, Merck and GlaxoSmithKline.