India Coronavirus Vaccine Market to grow with a CAGR of 5.00%
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the India Coronavirus Vaccine Market.
According
to TechSci Research report, “India Coronavirus Vaccine Market Industry Size,
Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, India Coronavirus Vaccine Market
is anticipated to witness an impressive growth in the forecast period with a
CAGR of 5% through 2029. This can be due
to collaborations and partnerships among leading companies with a diverse
approach to merge the expertise of individual companies and to strengthen their
position in the market. A large population drive the demand for coronavirus
vaccines. In a densely populated area, the risk of virus transmission is
higher, and the potential for outbreaks and the rapid spread of the virus is
more significant. This increased risk motivates a larger portion of the
population to seek vaccination for protection. Achieving herd immunity, where a
sufficient percentage of the population is immune to the virus, is essential
for curbing its spread. In a large population, a larger number of people must
be vaccinated to reach this goal, which drives higher demand. The presence of a
large population often results in more extensive public awareness campaigns.
The promotion of vaccination at a mass scale encourages individuals to seek
vaccines. In areas with large populations, the economic impact of the pandemic
can be more significant. Widespread vaccination is crucial to reopening
businesses and returning to normal economic activities. In a large population,
there are more individuals in vulnerable groups, such as the elderly and those
with underlying health conditions. These individuals are more likely to seek
vaccination, further driving demand.
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In January 2023, India introduced the iNCOVACC
vaccine, developed by Bharat Biotech. iNCOVACC is administered in the form of
nasal drops, and it triggers an immune response in the tissues lining the nasal
cavity. Scientists suggest that nasal vaccines may provide additional
protection in the nasal passages and upper respiratory tract, where the
SARS-CoV-2 virus typically enters the body. In November, India's drug regulator
granted approval for the use of iNCOVACC as a heterologous booster dose. This
serves as a booster for individuals who had previously received two doses of
either Covishield or Covaxin, the two primary Indian vaccines, especially in
emergency situations among adults. In December, the drug regulator also
approved iNCOVACC for use as both a primary vaccine and a subsequent booster
shot for adults.
Production
scaling has been a significant challenge in the India Coronavirus Vaccine
Market, as in many other parts of the world. Expanding vaccine production
requires infrastructure, equipment, and resources, including manufacturing
facilities, cleanrooms, and specialized machinery. The construction and
equipping of new facilities can be time-consuming and costly. Scaling up
production often necessitates a skilled and trained workforce, including
technicians, quality control experts, and logistics personnel. Training and
recruitment can be challenging. Securing a consistent and reliable supply of
raw materials, including bioreactor components, growth media, and vials, can be
difficult. Global shortages or disruptions in the supply chain can hamper
production. Maintaining stringent quality control standards is crucial in
vaccine production. Ensuring that the production process consistently meets
these standards can be challenging as production scales up. Certain vaccines
require specific temperature conditions for storage and transportation. Scaling
up production must be accompanied by a corresponding expansion of the cold
chain infrastructure to maintain vaccine integrity.
India Coronavirus Vaccine Market is segmented based
on Type, Patient Type, End-user, and by region.
Based on the Type, India Coronavirus Vaccine Market
is segmented into mRNA Based, Non-Replicating Viral Vector Based, Inactivated
Vaccine. An inactivated vaccine, also known as a killed or inactivated virus
vaccine, is a type of vaccine that uses a virus that has been rendered
non-infectious or non-replicating. Inactivated vaccines are designed to
stimulate an immune response in the body without causing the disease they
protect against. In the development of inactivated vaccines, the
disease-causing virus is cultured and then treated in a way that renders it
incapable of causing disease. This inactivation can be achieved through various
methods, such as heat, chemicals, or radiation. While the virus is inactivated,
the structural components of the virus, known as antigens, are preserved.
Antigens are the parts of the virus that trigger the immune system's response. The
inactivated virus is introduced into the body through a vaccine. When the
immune system encounters these preserved antigens, it recognizes them as
foreign invaders and mounts an immune response to neutralize them. The immune
response generated by an inactivated vaccine includes the production of
antibodies, which are proteins that can bind to and neutralize the virus. In
addition to antibodies, cellular immune responses may also be triggered.
Based on Region, North India held the largest share in the India Coronavirus
Vaccine Market. The distribution of vaccines often aligns with
population density and the prevalence of COVID-19 cases. This means that areas
with higher population densities and infection rates might receive more
vaccines. Regions with stronger healthcare infrastructure and vaccination
centers may have an advantage in terms of vaccine distribution and
administration. The ability to maintain the cold storage requirements of
certain vaccines, like those with ultra-low temperature requirements, could
influence distribution strategies and vaccine allocation.
Some of the major companies
operating in the India Coronavirus
Vaccine Market include:
- Serum
Institute of India Pvt. Ltd
- Bharat
Biotech International Ltd.
- Zydus
Cadila Ltd.
- Pfizer
India Ltd
- Panacea
Biotec Ltd
- Indian
Immunologicals Ltd
- Mynvax
Pvt. Ltd.
- Biological
E Ltd.,
- Hetero
Biopharma Ltd.
- Dr
Reddy's Laboratories Ltd.
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“Certain areas, particularly in North
America, are projected to exert significant demand for Coronavirus Vaccine. The
growth in the competitive landscape and the presence of well-established
companies in the market, committed to enhance the overall wellbeing of people each
year, are expected to contribute to a remarkable growth of the India Coronavirus
Vaccine Market in the forecast period," said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based Global management consulting
firm.
India Coronavirus Vaccine Market by Type
(mRNA Based, Non-Replicating Viral Vector Based, Inactivated Vaccine), By
Patient Type (Adult v/s Pediatric), By End User (Hospitals, Clinics, Research
Institutes, Others), By Region, By Competition Forecast & Opportunities,
2019-2029F has
evaluated the future growth potential of India Coronavirus Vaccine Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide innovative market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Coronavirus Vaccine Market.
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