Market Overview
India Coronavirus Vaccine Market
is anticipated to witness an impressive growth in the forecast period with a
CAGR of 5% through 2029. A coronavirus
vaccine is a type of vaccine designed to protect against the family of viruses
known as coronaviruses. These viruses can cause illnesses in both humans and
animals. The term "coronavirus" refers to the characteristic
crown-like spikes that protrude from their surfaces when viewed under a
microscope. Vaccines against COVID-19 prevent patients from contracting the
virus and, if they do, from developing more severe symptoms. The SARS-CoV-2
virus, which produces COVID-19, is something that these immunisations
"teach" your body how to fight off. A vaccine made of protein
subunits is called Novavax. The "spike" protein that causes COVID-19
is included in the vaccination in innocuous bits. The vaccination causes your
body to produce antibodies that shield you from the infection. Currently, it is
designed to be effective against the original COVID-19 virus. The COVID-19
vaccination may have some adverse effects including flu-like symptoms, but it
won't get you sick. That's typical. These symptoms indicate that the virus is
being attacked by antibodies that your body is producing. Government-led vaccination campaigns and
initiatives were a significant driver of the India Coronavirus Vaccine Market.
The Indian government actively promoted and facilitated vaccine distribution
and administration. India is known for its robust vaccine manufacturing
capacity, and the presence of major vaccine manufacturers like the Serum
Institute of India and Bharat Biotech played a vital role in supplying vaccines
not only to India but also to other countries. Ongoing research and development
activities for COVID-19 vaccines, including the development of new vaccine
candidates and improvements to existing ones, drove the market. Public
awareness campaigns and the acceptance of vaccines among the Indian population
were essential drivers for vaccine uptake. Innovations in vaccine technology,
including the development of different types of COVID-19 vaccines, played a
role in the market's dynamics. Achieving herd immunity and reducing the spread
of the virus were overarching goals, pushing vaccine distribution efforts.
India's efforts in exporting vaccines to other countries, as part of its
vaccine diplomacy, contributed to the market's growth. It enhanced the
reputation of Indian vaccine manufacturers and generated revenue.
Key Market Drivers
Pharmaceutical
Innovation
One of the most
groundbreaking innovations was the development of mRNA vaccines, such as the
Pfizer-BioNTech and Moderna vaccines. These vaccines use a small piece of the
virus's genetic material (messenger RNA) to instruct cells to produce a
harmless spike protein found on the virus's surface. The immune system then
recognizes this protein and generates an immune response. mRNA vaccine
technology had never been used in a widely approved vaccine before, making it a
significant breakthrough. Some vaccines, like the AstraZeneca-Oxford vaccine
and Johnson & Johnson's Janssen vaccine, use a viral vector approach. They
use a harmless adenovirus to deliver a piece of the coronavirus's genetic
material into cells to trigger an immune response. This technique allowed for
the development of vaccines with a single dose. Traditional protein subunit
vaccines were developed for COVID-19, such as the Novavax vaccine. These
vaccines contain harmless pieces of the virus, like the spike protein, which
trigger an immune response. This approach is familiar and has been used in
various vaccines.
Some vaccines, like Bharat
Biotech's Covaxin, use inactivated virus particles or a live, weakened form of
the virus. These are tried-and-true methods for vaccine development. Many
pharmaceutical companies conducted adaptive clinical trials, which allowed for
ongoing data analysis and adjustments in real-time. This approach expedited the
development process. The pandemic prompted unprecedented levels of
collaboration and data sharing among pharmaceutical companies, researchers, and
governments. This collaboration helped accelerate vaccine development and the
sharing of information regarding vaccine safety and efficacy.
Regulatory agencies around
the world adapted their processes to issue emergency use authorizations for
COVID-19 vaccines, allowing faster deployment while maintaining safety and
efficacy standards. Developing vaccines quickly is one part of the challenge;
manufacturing them at scale is another. Companies invested in expanding
production capacity and optimizing vaccine manufacturing processes. Ongoing
surveillance and research into emerging variants of the virus have driven
innovation in vaccine development. Manufacturers have explored booster shots
and adapted vaccines to address variant strains. This factor will help in the
development of the India Coronavirus Vaccine Market.
Increasing
Public Awareness and Acceptance
Public awareness campaigns
help build trust in the safety and efficacy of vaccines. Effective
communication from healthcare authorities, governments, and medical
professionals is essential to address concerns and misinformation. These
campaigns educate the public about the importance of vaccines in controlling
the spread of the virus and preventing severe illness and death. Understanding
the benefits of vaccination is key to increasing demand. Some individuals may
be hesitant or skeptical about receiving vaccines. Public awareness efforts are
essential for addressing these concerns and encouraging vaccine acceptance.
People often get
vaccinated not only to protect themselves but also to protect their
communities. Public awareness campaigns emphasize the collective responsibility
in combating the pandemic. A high level of vaccine acceptance is necessary to
achieve herd immunity, which can significantly reduce the spread of the virus
in a population. Herd immunity benefits everyone, including those who cannot be
vaccinated for medical reasons. Public awareness campaigns help normalize the
act of getting vaccinated, making it a routine part of healthcare. This can
reduce the stigma associated with vaccines.
Vaccine demand may be
hindered by practical barriers, such as difficulty in scheduling appointments,
access to vaccination sites, or fear of side effects. Public awareness efforts
can address these barriers and provide information on how to overcome them. Public
awareness campaigns often provide information about where and when vaccines are
available, making it easier for the public to access vaccination services. Public
awareness messages can emphasize the role of individuals in contributing to the
greater good and public health by getting vaccinated. Public awareness efforts
should not be limited to the initial rollout of vaccines but should continue
throughout the vaccination campaign to keep the public informed about booster
shots and other developments. This factor will pace up the demand of the India Coronavirus
Vaccine Market.
Rise in
Vaccine Research and Development
Research and development
efforts lead to the creation of innovative and highly effective vaccines. When
new vaccines are developed with high efficacy rates, they are more likely to be
in demand as people seek the best protection against COVID-19. Ongoing research
is crucial for adapting vaccines to address emerging variants of the virus.
When vaccines are modified to provide protection against new strains, people
are more likely to seek booster shots and updated vaccines, thus increasing
demand. Research and clinical trials ensure that vaccines are safe for use. Data
on vaccine safety helps build public trust, reducing concerns about potential
side effects and increasing demand.
Initially, vaccines may be
authorized for specific age groups. As research demonstrates the safety and
efficacy of vaccines for broader populations, the expansion of eligible age
groups drives increased demand. Transparent reporting of clinical trial results
and vaccine data helps educate the public about the effectiveness of vaccines.
Data-driven decisions boost confidence and demand. Research findings and
developments are often communicated through public awareness campaigns. These
campaigns inform people about the latest research, creating a sense of urgency
and increasing demand. Government health agencies and healthcare professionals
rely on vaccine research to make recommendations. When research demonstrates
the benefits of vaccination, official endorsements increase demand.
International
collaboration in research and development efforts fosters trust and confidence
in vaccines. Vaccines developed with contributions from multiple countries
benefit from a global reputation, which drives demand. Research highlights the
role of vaccines in protecting not only individuals but also communities.
Understanding that widespread vaccination can reduce the spread of the virus
drives a sense of responsibility and increases demand. The expedited
development of vaccines in response to a global health crisis demonstrates the
capability of the scientific community. It increases confidence in vaccine
research and encourages people to seek vaccination. This factor will accelerate
the demand of the India Coronavirus Vaccine Market.
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Key Market Challenges
Vaccine
Hesitancy
The spread of false or
misleading information about vaccines, their safety, and efficacy can create
doubts and fears, leading to hesitancy. Previous healthcare initiatives, such
as the polio vaccination campaign, have faced challenges in some regions of
India, contributing to mistrust in vaccines. Some communities have specific
beliefs or practices that influence their perception of vaccines. Overcoming
these cultural and religious barriers is essential. In remote and underserved
areas, limited access to information and healthcare services can lead to
vaccine hesitancy due to a lack of awareness about the importance of
vaccination. Concerns about potential side effects or adverse reactions can
deter individuals from getting vaccinated. Transparent reporting of side effect
data is crucial to address these concerns. In some cases, people may trust
traditional or alternative medicine over vaccines, leading to hesitancy. Challenges
related to vaccine access, including long travel distances to vaccination
sites, inadequate healthcare infrastructure, and lack of resources, can
contribute to hesitancy. Effective communication from healthcare authorities is
vital. Clear, accurate, and culturally sensitive messaging can address concerns
and build trust in the vaccine. Public trust in the vaccine manufacturing and
distribution process is essential. Ensuring transparency and adherence to
strict safety and efficacy standards is crucial.
Supply
Chain Issues
Some COVID-19 vaccines,
especially those with specific temperature requirements, need reliable cold
storage infrastructure to maintain their efficacy. Ensuring that this
infrastructure is in place and functioning effectively has been a challenge,
especially in remote and underserved areas. Transporting vaccines from
manufacturing facilities to vaccination centers across a vast and diverse
country like India poses logistical challenges. Maintaining the cold chain
during transportation is essential to prevent vaccine spoilage. Reaching remote
and rural areas with vaccines has been a challenge due to limited
transportation options and inadequate infrastructure. Ensuring equitable
vaccine distribution to all regions is crucial. Proper packaging and labeling
of vaccines are critical for tracking and ensuring their safety. Any issues
with packaging and labeling can lead to complications in the supply chain. The
global nature of vaccine supply chains meant that disruptions in the supply of
key components, like glass vials and raw materials, could impact vaccine
production and distribution. Maintaining accurate inventory and ensuring that
vaccines do not go to waste due to expiration is a constant challenge.
Key Market Trends
Variants
and Booster Shots
The emergence of new
variants of the SARS-CoV-2 virus raised concerns about the effectiveness of
existing vaccines. Variants like Delta and Omicron had the potential to impact
vaccine efficacy. As a result, researchers and vaccine manufacturers were working
to adapt vaccines to better address these new strains. The need for booster
shots to enhance and prolong vaccine protection was being discussed and
implemented. Booster doses were considered for individuals who had received
their initial vaccine series, and the timing and frequency of booster shots
were subjects of study and debate. The Omicron variant, which was first
identified in late 2021, sparked particular concern due to its high number of
mutations. This led to a more urgent focus on booster strategies and potential
modifications to existing vaccines. Vaccine manufacturers were conducting
research to determine the effectiveness of their vaccines against variant
strains. This research informed decisions about booster shots and potential
updates to existing vaccines. The Indian government, like many others, was
considering and implementing booster dose strategies and providing guidance on
which vaccines to administer as booster shots. The discussion around
booster shots and variants was an important part of public awareness campaigns,
as it influenced people's understanding of the evolving situation and the
importance of staying up to date with vaccinations. Some vaccine manufacturers
were exploring the development of updated vaccines specifically designed to
target prevalent variants more effectively.
Segmental Insights
Type Insights
In 2023, the India Coronavirus Vaccine Market largest
share was held by mRNA Based segment and is predicted to continue expanding
over the coming years. mRNA vaccines were
known for their high efficacy in clinical trials, which may have led to
increased demand. Availability of mRNA vaccines through international
agreements or partnerships with pharmaceutical companies could have increased
their presence in the Indian market. Government decisions and agreements with
vaccine manufacturers can also influence which vaccines are available in a
particular market. The mRNA technology allows for relatively quick adjustments
to vaccine formulations to address emerging variants, making them adaptable to
changing circumstances.
Patient Type Insights
In 2023, the India Coronavirus Vaccine Market largest
share was held by adults’ segment and is predicted to continue expanding over
the coming years. In most countries, including India, the
initial phases of COVID-19 vaccination campaigns prioritized adults, particularly
those in higher-risk categories, such as healthcare workers, the elderly, and
individuals with underlying health conditions. This prioritization was based on
the higher vulnerability of these groups to severe illness and complications
from COVID-19. Vaccination campaigns often roll out in phases, starting with
the most vulnerable and essential groups and then expanding to the broader
adult population. As the campaigns progress, more adults become eligible for
vaccination, contributing to the larger share of the market. In demographic
terms, the adult population is generally larger than the elderly or paediatric
populations. Therefore, a vaccine market that includes adults naturally
encompasses a larger portion of the population. Adults constitute a significant
part of the workforce and are involved in various economic activities, making
them a priority for vaccination to reduce the impact of the pandemic on the
economy. Achieving herd immunity often relies on a substantial portion of the
adult population being vaccinated, as they make up most of the population. This
is essential for controlling the spread of the virus.
End-User Insights
In 2023, the India Coronavirus Vaccine Market largest
share was held by Hospitals segment in the forecast period and is predicted to
continue expanding over the coming years. Many
hospitals, both government-run and private, were designated as vaccination
centres. They had the necessary infrastructure, healthcare staff, and equipment
to facilitate the administration of vaccines. Hospitals often have the required
cold storage facilities to store and manage vaccines with specific temperature
requirements, such as vaccines that need to be stored at ultra-low
temperatures. Hospitals have a trained healthcare workforce, including doctors,
nurses, and support staff, who were involved in the vaccination process. This
ensured the safe and efficient administration of vaccines. Hospitals are
trusted healthcare institutions, and people may have more confidence in
receiving vaccines at hospitals, which can be important in overcoming vaccine
hesitancy. Hospitals are often widely distributed across urban and rural areas,
making vaccines more accessible to a broader population. Hospitals were
well-equipped to manage adverse events following vaccination and provide
immediate medical attention if necessary.
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Regional Insights
The North
India region dominates the India Coronavirus Vaccine Market in 2023. Some
of the major vaccine manufacturing companies, such as the Serum Institute of
India and Bharat Biotech, are in different parts of India, not limited to North
India. These facilities play a crucial role in the production and distribution
of vaccines. The distribution and allocation of vaccines in India were
primarily determined by government policies and guidelines, which were designed
to ensure equitable access to vaccines across the entire country.
Recent Developments
- 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.
Key Market Players
- 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.
|
By
Type
|
By Patient
Type
|
By
End-User
|
By
Region
|
- mRNA
Based
- Non-Replicating
Viral Vector Based
- Inactivated
Vaccine
|
|
- Hospitals
- Clinics
- Research
Institutes
- Others
|
- North
India
- South
India
- East
India
- West
India
|
Report
Scope:
In this report, the India
Coronavirus Vaccine Market has been segmented into the following categories, in
addition to the industry trends which have also been detailed below:
- Coronavirus Vaccine Market, By Type:
o mRNA
Based
o Non-Replicating
Viral Vector Based
o Inactivated
Vaccine
- Coronavirus Vaccine Market, By Patient Type:
o Adult
o Pediatric
- Coronavirus Vaccine Market, By End-User:
o Hospitals
o Clinics
o Research
Institutes
o Others
- Coronavirus Vaccine Market, By region:
o North India
o South
India
o East
India
o West
India
Competitive
Landscape
Company
Profiles: Detailed analysis of the major companies presents
in the India Coronavirus Vaccine Market.
Available
Customizations:
India Coronavirus Vaccine
Market report with the given market data, Tech Sci Research offers
customizations according to a company's specific needs. The following
customization options are available for the report:
Company
Information
- Detailed
analysis and profiling of additional market players (up to five).
India
Coronavirus Vaccine Market is an upcoming report to be released soon. If you
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please contact us at [email protected]