While several respiratory virus vaccines are already in the pipeline, several markets players are projected to attain greater sales roceeds as their vaccines are sanctioned for selling commercially.
ROCKVILLE, MD / ACCESSWIRE / November 3, 2020 / The respiratory virus vaccines market is likely to expand at a CAGR of 7% during 2020-2030. The stiffening noose of COVID-19, together with the recognition of several novel respiratory viruses, is sustaining the requirement for the expansion of preventive and therapeutic models.
Inventing vaccines has become a vital step taken towards the inhibition of widespread viral infections as well as the decline of mortality related to them. Due to the ongoing pandemic, the need for respiratory virus vaccines will grow exponentially.
"Demand foreseen in the global market is estimated to upsurge particularly due to the unprecedented outbreak of coronavirus. A rising number of manufacturers are projected to focus on research initiatives, to attain a competitive benefit in this scenario." says the Fact.MR report.
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Respiratory Virus Vaccines Market - Key Takeaways
- Inactive/killed vaccines will hold majority of market share and will remain strong due to a slew of introductions in this segment.
- The intramuscular category will remain a key beneficiary throughout the forecast period.
- Based on indication, the market will foresee growing demand from the COVID-19 category in the upcoming years.
- Steady demand from adults is slated to see scaling heights as a result of the ongoing pandemic.
- Growing demand from hospitals is projected to increase significantly during the forecast time frame.
Respiratory Virus Vaccines Market - Driving Factors
- Growing acute respiratory illnesses has been a prime driving aspect for the respiratory virus vaccines market
- Rising investments in research and development and increasing initiatives are complementing exponential development in the market.
- Leading pharmaceutical market players competing to be the first to develop and introduce a vaccine for COVID-19, the respiratory virus vaccines market is anticipated to swell exponentially over the forecast period.
Respiratory Virus Vaccines Market - Constraints
- Governing bodies have strict policies for vaccination approval is poised to constraint the market growth.
- High risk and cost associated with the evaluation and selection of candidate vaccines for advancement to efficacy trials can be challenging for the market.
Explore the Respiratory Virus Vaccines market comprising of 95 figures and 43 data tables, along with the table of contents. You can find a detailed market segmentation on https://www.factmr.com/report/5199/respiratory-virus-vaccines-market
Anticipated Market Impact by COVID-19 Outbreak
The COVID-19 pandemic has prompted market players to participate in research & development in war-like determination. Apart from
this, players are foreseen to gain lucrative prospects across diverse categories.
As seasonal influenza causes several hospitalization cases in the U.S. every year, players are tapping into development prospects in this field. With experts indorsing higher investments in clinical trials to create anticipated immune response, the respiratory virus vaccines market is slated to increase significantly over the approaching years.
Competition Landscape
The respiratory virus vaccines market is greatly fragmented, with the existence of several regional and local companies. The competitive scenario of the market has been led by several product launches. Some of the companies in the market are CSL Limited, Bharat Biotech, Sanofi, AstraZeneca, GlaxoSmithKline plc, Serum Institute of India Pvt. Ltd., Merck & Co., Inc., and Sinovac Biotech Ltd.
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More on the Report
The Fact.MR's market research report provides in-depth insights into the respiratory virus vaccines market. The market is scrutinized based on type (inactivated/killed vaccines, live-attenuated vaccines, and recombinant vaccines), route of administration (intramuscular, intranasal, and subcutaneous), indication (influenza, measles, mumps & rubella, and COVID-19), age group (adults and pediatric), and end user (physician offices, hospitals, clinics, and pharmacies/ stores), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
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