According to the DataM market research report, the global live attenuated vaccines market is growing at a CAGR of 10.1% over the forecast period 2023-2030

CLEVELAND, OHIO, USA, March 16, 2023 /EINPresswire.com/ -- Live Attenuated Vaccines Market

The increasing prevalence of infectious diseases and different initiatives in promoting immunization, rising vaccination awareness, and increasing government funding are driving market expansion during the projection period.

Market Overview:

Live attenuated vaccination (LAV) is prepared from weakened living microorganisms (currently available viruses and bacteria). It helps to develop an immune response, which protects the vaccinated person from contracting the same disease. WHO-recommended vaccinations such as BCG, polio vaccine, measles, rotavirus, and yellow fever are created through attenuation.

Market Size Growth Rate:

According to the DataM market research report, the global live attenuated vaccines market size was valued at US$ billion in 2022, it is projected to reach US$ 15.27 billion by 2030, with growth at a CAGR of 10.1% over the forecast period 2023-2030. Europe is estimated to contribute 28.2% to the growth of the global market over the forecast period.

Increasing funding from the government for vaccination programs, rising prevalence of infectious diseases, growing awareness of infectious diseases, increase in the number of clinical trials conducted by many pharmaceutical industries, as well as initiatives by public and private organizations to develop improved therapies, all have an impact on the market.

Market Drivers:

Government funding has been increased, and steps have been taken to make immunization mandatory for youngsters will probably drive the live attenuated vaccines market over the predicted timeframe. The government is investing extensively in research, development, and infrastructure to deliver better medical care to patients. The U.S. government promised a $1.6 billion investment in 2020 to assist pharmaceutical company Novavax in producing 100 million doses of a Covid-19 vaccine by early 2021. In addition, Gavi the Vaccine Alliance is a public-private global health partnership that helped vaccinate over 888 million children in 77 countries through routine immunization and supported over 1.19 billion immunizations through campaigns from 2000 to 2020.

Market Restraints:

However, high costs associated with the development, side effects of live attenuated vaccines, and regulatory hurdles are expected to obstruct market growth. For instance, the main problem of attenuated vaccinations is that subsequent mutations can result in virulence reversion and illness.

Market Opportunities:

Increased demand for the program aimed at preventing transmission and alleviating suffering accelerates market growth. The increase in the number of clinical trials conducted by many pharmaceutical industries, as well as initiatives by public and private organizations to develop improved therapies, all have an impact on the market.

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COVID-19 Impact Analysis:

The COVID-19 outbreak has boosted the global market for live attenuated vaccines. The increased number of COVID-19 cases around the world, as well as a large number of vaccine trials and development, combined with COVID-19 vaccination drives, have created a huge demand for vaccine refrigerators. As a result, the COVID-19 pandemic boosted the market value of live attenuated vaccines in 2021. In addition, numerous public and private institutions have collaborated to make COVID-19 vaccinations accessible to the general public. For instance, in April 2020, AstraZeneca and the University of Oxford collaborated on the global development and distribution of the University's potential recombinant adenovirus vaccine to prevent COVID-19 infection from SARS-CoV-2.

Recent Developments in the Industry:

In May 2022, Codagenix Inc. announced that it had partnered with the Serum Institute of India Pvt. Ltd. to report that the first patient had received their dose in the Phase 1 clinical trial being conducted in the United Kingdom to assess the use of Codagenix's novel intranasal, live attenuated virus vaccines, CoviLiv, as a booster in healthy adults following prior vaccination with approved COVID-19 vaccines.

In May 2022, Jynneos, live attenuated vaccines, is being developed by the European biotech firm Bavarian Nordic. Immunity against smallpox and monkeypox is provided by vaccines. Additionally, antibiotics and hydration therapy are primarily used to treat the symptoms.

According to a September 2020 announcement by Codagenix, Inc., the Serum Institute of India has begun producing CDX-005, the company's intranasal, live-attenuated vaccine candidate for SARS-CoV-2, the virus that causes COVID-19. The biotechnology firm is a clinical-stage player developing prophylactic
vaccines and oncolytic virus therapies.

Market Segmentation:

As per the research analysis, the global live attenuated vaccines market is segmented by type into viral and bacteria, by development into tissue culture, live animals, and embryonated eggs, by end user into hospitals and clinics, research institutes & others.

Based on type, the Viral segment is estimated to hold a significant market share in the forecast period (2023-2030). Viral live-attenuated vaccines mimic the natural infection they help to prevent by inducing a strong and long-lasting immune response. Single or two doses of live-attenuated vaccine can provide lifetime immunity against viral infections. Recently, viral vector technology has been used in some vaccines to combat Ebola outbreaks. Several studies have been conducted on viral vector vaccines against infectious diseases such as Zika, the flu, and HIV. Using this type of vaccine, scientists developed Covid 19 vaccinations. Viral vector vaccines protect by employing a modified version of another virus as a vector. Vectors include the influenza virus, the vesicular stomatitis virus (VSV), the measles virus, and the adenovirus that causes the common cold. Adenovirus is one of the viral vectors used in various COVID-19 vaccines currently being tested in clinical trials. Immunizations protect Covid 19 against viral vectors.

Some of the viral live attenuated vaccines are the oral polio vaccine (OPV), vaccinia (smallpox) vaccine, Adenovirus Oral Vaccine (Military), Yellow Fever Vaccine, Varicella (Chickenpox) Vaccine, Influenza Vaccine (Nasal Spray), FluMist, Rotavirus Vaccine, among others.

Geographical Classification:

The global live attenuated vaccines market is segmented into major countries, including North America, Europe, South America, Asia Pacific and Middle East & Africa.

North America Live Attenuated Vaccines Market:

North America is estimated to contribute 39.5% to the growth of the global market over the forecast period. Owing to the rising prevalence of infectious diseases and the government's increased vaccination campaigns are the factors to boost the regional market in the forecast period. Moreover, the U.S. has one of the world's best healthcare systems, and vaccination coverage, in terms of vaccine inclusion, is in line with WHO recommendations. Furthermore, increased covid patient cases in countries such as the U.S. and Canada have increased demand for covid live vaccines, contributing to market growth.

According to the Government of Canada, in 2022, 83.3% of the population had received at least one dose of a COVID-19 vaccine.

Asia-Pacific Live Attenuated Vaccines Market:

China and India are two of the Asia-Pacific region's largest revenue generators. These countries have a large population base, making them breeding grounds for a variety of viral and infectious diseases. Moreover, the new virus has spread in Asia, which scientists are becoming increasingly concerned about, and the number of people and cases of respiratory illness, which originated in China, has more than doubled in the last few days. Furthermore, the government has taken various initiatives to support the vaccination process for covid and other viruses, which increased investment, partnerships, acquisitions, and funds for the live attenuated market in Asia, which ultimately helped the market to grow.

Europe Live Attenuated Vaccines Market:

Europe is considered one of the largest markets for live attenuated vaccines, owing to the growing rate of infectious and viral diseases in Europe, which enables researchers to work on live vaccines. In addition, a widespread increase in the cases of viral infections and observed rates of disease in a given population increases the demand for live attenuated vaccines to cure the diseases. Diseases such as cholera, mumps, typhoid, and measles can become epidemics, in addition, to corona infections in recent years, depending on a range of factors. These diseases affect human health and create the need for vaccines to cure and prevent the disease in the future.

Competitive Analysis:

There are numerous international, regional and local suppliers in the global live attenuated vaccines industry. The competition in the local market is fierce. The vendors compete based on price, product quality, and dependability. As a result, to prosper and survive in a competitive market, suppliers must provide cost-efficient and effective products.

Major Companies:

Major key companies working towards the market's growth include GlaxoSmithKline plc, Merck & Co., Inc., Daiichi Sankyo Company, Sanofi, Valneva SE, Vivaldi Biosciences Inc., Serum Institute of India Pvt Ltd., BioDiem, Polymun Scientific, Emergent BioSolutions Inc. and others.

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The Full Report has the below insights:

The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).

Visualize the composition of the global live attenuated vaccines market segmentation by type, development, end user and region, highlighting the key commercial assets and players.

By Type: Viral, Bacterial
By Development: Tissue Culture, Live Animals, Embryonated Eggs
By End User: Hospitals and Clinics, Research Institutes, Others
By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
Identify commercial opportunities in the global live attenuated vaccines market by analyzing trends and co-development deals.

The report also covers data insights on various industry forces such as porter's five forces analysis, supply chain analysis, pricing analysis, and regulatory analysis.

Excel data sheet with thousands of data points of global live attenuated vaccines market-level 4/5 segmentation.

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key product of all major market players
The report will provide access to approximately 61 market data tables, 56 figures and close to 180 pages.

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