A biological preparation that enhances or provides acquired immunity to a certain disease is known as vaccine. A vaccine contains an agent that resembles the disease-causing organism either in a weakened form (known as live attenuated vaccine), or in a killed form of the microbe or its protein (known as inactivated vaccine).
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Body’s immune system is stimulated by the agent, which is recognized as a foreign body by this immune system. The agent is then destroyed and remembered by the immune system. The vaccine agents are inactivated or killed in different ways to reduce infectivity in order to avoid vaccine infections.
The global inactivated vaccines market is estimated to expand at a significant pace during the forecast period. The rising demand for inactivated vaccines from governments of industrialized and developing countries is a key factor driving the global inactivated vaccines market. Advantages of inactivated vaccines over live attenuated vaccines such as safety, stability, and lack of chances of pathogen reactivation can be passed on to immunocompromised people. These factors are likely to drive the global inactivated vaccines market during the forecast period.
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Furthermore, prevalence of infectious diseases and rise in awareness among people about immunization are other factors propelling the market. However, stringent government regulations regarding efficacy and safety and lack of supply of vaccines in remote areas are projected to be major restraining factors for the global inactivated vaccines market during the forecast period.
The global inactivated vaccines market can be segmented on the basis of product, method of inactivation, route of administration, and region. Based on product, the market can be divided into viral vaccines and bacterial vaccines. The viral vaccines segment is anticipated to hold a significant share of the global inactivated vaccines market from 2017 to 2025, due to increase in research on viruses and surge in the prevalence of viral diseases.
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Based on method of inactivation, the market can be divided into solvent detergent method, radiation method, pH concentration, heat inactivation, and others. The solvent detergent method segment is expected to hold a major share of the market between 2017 and 2025, due to operational flexibility offered by this method. Based on route of administration, the market can be divided into oral, subcutaneous, intravenous, and others.
Geographically, the global inactivated vaccines market can be segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to dominate the global inactivated vaccines market during the forecast period. Surge in investments by governments and high incidence of diseases in the region are a few factors propelling the market in North America. Furthermore, rise in awareness about vaccines, government programs, high health care expenditure are other factors fueling the market in the region. Europe is anticipated to hold a significant share of the global market between 2017 and 2025, due to increase in health care expenditure and surge in R&D activities in the region. The market in Asia Pacific is anticipated to witness rapid growth during the forecast period. Asia Pacific is a highly lucrative market for inactivated vaccines, due to high prevalence of diseases, government-induced national immunization programs, and increasing investments in R&D in the region.
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In order to attain a significant position in the global inactivated vaccines market, key players are adopting strategies such as mergers and acquisitions, extensive R&D activities, introduction of cost-effective and efficient vaccine products, and collaborative partnerships. Some of the prominent players operating in the global inactivated vaccines market are Emergent BioSolutions, GlaxoSmithKline plc, Merck & Co., Inc., Seqirus, Sanofi, Valneva SE, Pfizer Inc., and Bharat Biotech.
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