Global Live Attenuated Vaccines Market Projected To Grow Radiantly By 2030; Asserts MRFR Unleashing Industry Forecast

Pune, India, December 2022/MRFR Press Release/- Market Research Future published a Half Cooked research report on “Global Live Attenuated Vaccines Market Research Report - Forecast to 2030”– Market Analysis, Scope, Progress, Trends and Forecast to 2030.

Live Attenuated Vaccines Market Highlights

The global live attenuated vaccines market is growing at a very reasonable pace. The global market for live attenuated vaccines is growing continuously and expected to grow at a CAGR of 12.3% during the forecast period 2022-2030. According to a recent study report published by the Market Research Future, The global live attenuated vaccines market is booming and expected to reach USD 42,645.5 Million by 2030. The market is forecasted to demonstrate a spectacular growth by 2030, surpassing its previous growth records in terms of value.

Vaccines created by reducing the virulence of pathogens are known as Live Attenuated Vaccines (LAV). These pathogens are weakened under laboratory conditions. The vaccine triggers a potent immune response against infectious diseases. They initiate memory cell production in order to respond to the pathogen that previously invaded the body. Increasing awareness about vaccination, growing government funding for vaccination programs and increasing prevalence of infectious diseases drive the growth of this market. Improving healthcare infrastructure, increasing demand for live attenuated vaccines, and emphasis on prevention of diseases also drives this market.

Availability of funds from government agencies, vaccination programs carried out across the region and technological advancement in vaccine production drive this market in America. World Health Organization (WHO) launched Global Vaccine Action Plan in May 2012 with a motive of strengthening immunization programs and reduce the occurrence of infectious diseases. It was a product of Decade of Vaccines Collaboration (DoV) and consisted of 194 member states. Guidelines were published by UNICEF and WHO to develop a plan for immunization. In 1963 the government introduced measles vaccine, which resulted into a significant decline in mortality rate caused by measles. States in the U.S have made vaccination mandatory before admitting a child to school. Schools are also taking a major initiative in vaccination of children.

Global Live Attenuated Vaccines Market - Competitive Analysis

The market for live attenuated vaccines is characterised by the presence of several well-established and small players, the global market of live attenuated vaccines appears to be highly competitive and fragmented. Global players are increasingly expanding their footprint in the emerging nations, making it putting pressure on the regional players, especially in terms of features such as type, product portfolios, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. These players possess state of art manufacturing facilities and strong sales and distribution network which have helped them to gain leadership position in the market.      

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Live Attenuated Vaccines Market Research Report

For instance, companies like in September 2017, Merck has launched INNOVAX-ND-IBD, the first live vaccine made with biotechnology that protects against three highly infectious diseases in poultry Infectious Bursal Disease (IBD), Newcastle Disease (ND), and Marek’s disease (MD). When given to chickens either in ovo or subcutaneously in the hatchery, it provides life-long protection for ND, IBD and MD simultaneously.

Moreover, October 2017, Company named MedImmune a biotechnology company developing optimized therapeutic antibodies targeting AMHR2 for the treatment of cancer has entered into a licensing agreement under which GamaMabs will use MedImmune’s proprietary pyrrolobenzodiazepine (PBD) toxin and linker technology to research and produce an antibody-drug conjugate (ADC) as a potential cancer therapy.

Moreover, in July 2017, company named Emergent BioSolutions Inc. is licensing agreement with Valneva SE for global exclusive rights to Valneva’s Zika vaccine technology, ZIKV. This will help the company to acquire revenue-generating products and advancing products to aligning with partners such as Valneva to develop innovative products that could potentially serve the needs of both government customers and the commercial market.

Therefore, the growing innovations in the field of live attenuated vaccines and rising research and development and clinical approvals for various competitive products by the major players has spurred the growth of the market.  

GlaxoSmithKline, plc. (U.K.), Merck & Co. (U.S.), Pfizer, Inc. (U.S.),  Astellas Pharma Inc. (Japan), Johnson & Johnson (U.S.),  CSL Limited (Australia), Emergent BioSolutions, Inc. (U.S.), MedImmune, LLC (U.S.), Sanofi (France), and Serum Institute of India Pvt. Ltd. (India) are some of the prominent players at the forefront of competition in the Global Live Attenuated Vaccines Market and are profiled in MRFR Analysis.