Human Rotavirus Vaccine Market in Global Industry: Demands, Insights, Research and Forecast 2020-2027
The major factors influencing the growth of the market
include increasing government initiatives and funding for research and
development, increasing biopharmaceutical and biotechnology industries,
increasing incidence of various diseases in childrens, and growing government
focus on prevention of diseases. According to the study by National Center for
Biotechnology Information, in 2015 rotavirus related diarrhoea was responsible
for killing about 600,000 children.
Rotavirus vaccine is used to protect against rotavirus
infections which cause severe diarrhoea among young children. Symptoms of
rotavirus infection include severe diarrhoea, vomiting, fever, and abdominal
pain which can result in disease. The global human
rotavirus vaccine market is expected to reach US$ 12.3 billion by 2023, and
the market is projected to grow at a CAGR of ~ 11.2 % during the forecast
period 2017-2023.
Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/4171
Global Human rotavirus vaccine Market - Competitive
Analysis
There are majorly three pharmaceutical companies licensed
for rotavirus vaccines, Rotarix that is manufactured by GlaxoSmithKline
Biologicals and RotaTeq manufactured by Merck & Co. Inc., a U.S. based
company challenging these two major companies an Indian pharmaceutical company
Bharat Biotech launched the lowest price rotavirus vaccine named Rotavac. There
are various companies are seeking interest in manufacturing of these vaccine
due low presence of manufacturers. New necessities for the development,
manufacturing and licensure of new vaccine candidates have caused a marked rise
in manufacturers’ investment costs. To compensate these investments in research
and development and engender profits while the manufacturer monopolizes the
market.
Global Human rotavirus vaccine Market - Market Overview
According to the study it was also been found that more than
80% of all rotavirus-related deaths occurred in in South Asia and sub-Saharan
Africa. Across the globe, rotavirus-related deaths denote for approximately 5%
of the deaths in children more than 5 years of age. Most of the children are
infected with rotavirus at least once by the age of five across the globe.
Initiatives have been taken by the World Health Organization (WHO) and has
suggested that rotavirus vaccine to be included in national routine
vaccinations programs.
The consumptions of these vaccines would be responsible to
prevent 15 to 34% of severe diarrhoea in the developing countries and 37 to 96%
of severe diarrhoea in the developed nations. The results of these vaccines
were to be seen in Mexico. According to World Health Organization (WHO) a
decline of up to 50% in diarrhoeal deaths in children less than 5 years of age
was attributed directly to the use of the vaccine in the country. The
development of these vaccines is significantly impacting and showing positive
results, due to which there is huge demand of these vaccines and positively
impacting the growth of the market. Moreover there is a huge opportunity in
developing countries that is grabbed by various market players for expanding
their presence in the region. The market is forecasted to demonstrate a double
digit growth by 2023, surpassing its previous growth records in terms of value
with a striking CAGR during the anticipated period 2017 – 2023.
The company GlaxoSmithKline has offered to deliver this vaccine
at price of US$ 2.50 every dose, which creates a 67% decrease over the lowest
public price now available. Merck & Co. Inc. has offered to deliver the
vaccine at price of US$ 3.5 every dose once the volume of purchase reaches 30
million doses. Although in 2011 there Indian company Bharat Biotech, announced
the cost of its vaccine challenging GSK, Merck in the market. With its product
Rotavac vaccine, the company quoted the lowest price i.e. 60 rupees that is
less than 1$ for three doses of rotavirus vaccine.
Browse Detailed TOC
with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/human-rotavirus-vaccine-market-4171
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to
unravel the complexity of various industries through our Cooked Research Report
(CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR
team have supreme objective to provide the optimum quality market research and
intelligence services to our clients.
Contact:
Akash Anand
Market Research Future
+1 646 845 9312
Comments
Post a Comment