Varicella Vaccines Market – Global Outlook & Forecast 2021-2031

Varicella Vaccine Market by Patient Type [Pediatric Patients and Adult Patients], Product Type [Monovalent Varicella Vaccine and Combination Varicella Vaccine] – Global Outlook & Forecast 2021-2031

Clairvoyance Research conducted an in-depth market analysis study of the global varicella vaccine market. According to the study, the market was valued at ~US$ 3.8 billion in 2020. The market is expected to witness a CAGR of ~12.0% from 2021 to 2031. 

Rising awareness for immunization, growing number of new born babies globally and various initiatives for making vaccine available to low- and middle-income countries are some of the pivotal factors propelling the growth of the varicella vaccines market. However, high cost of vaccine development and religious beliefs of certain communities against vaccination are likely to hamper the growth of the market to a certain extent.

With an aim to fast-track the development of varicella vaccines and to meet the needs of the healthcare sector, several initiatives such as providing necessary grants, permissions, clearances & approvals have been instigated by various organizations and government agencies across the world. For instance, in June 2018, SK Chemicals received domestic marketing approvals for its Sky Varicella Inj., from the Korea Ministry of Food and Drug Safety. Furthermore, in December 2019, the company also received the World Health Organization’s Pre-qualification (WHO PQ) certification for its SKY Varicella Inj. Vaccine.

About 140 million people are affected by varicella globally each year, of which 4.2 million develop severe complications that can lead to hospitalization and death. Neonates and the people with low immunity are at high risk. Vaccination is the most effective way for long-term protection against varicella. According to CDC, each year, more than 3.5 million cases of varicella, 9,000 hospitalizations, and 100 deaths are prevented by varicella vaccination in the United States.

Recommendation by various organizations around the world for varicella vaccination and inclusion of varicella vaccine in national immunization programme by various government agencies is also expected to boost the growth of the market. The World Health Organization recommends routine childhood immunization in countries where varicella is major public health burden. Additionally, over the last decade many countries in the Middle East have introduced varicella vaccination in their national immunization programs.

Religious beliefs among the people against the vaccination may hamper the growth of market to a certain extent. For instance, in Nov 2018, during the outbreak of chickenpox in Asheville Waldorf School, in North Carolina, high number of students were unimmunized owing to religious exemptions on vaccines.

The Asia Pacific region is expected to be the fastest growing varicella vaccine market. Factors such as developing healthcare infrastructure, rising R&D investments by prominent players to develop & approve vaccines in the region and increasing awareness on immunization programmes can be attributed to the growth of the market. Countries such as India and China in the APAC region are anticipated to offer significant growth opportunities owing to high birth rate in the region.

The varicella vaccine market is marked by presence of prominent players such as GlaxoSmithKline plc., Merck & Co., Inc., Sinovac Biotech Ltd., BIKEN, Changchun BCHT Biotechnology Co., Ltd, Green Cross Corp., Zuventus HealthCare Ltd., BIO-MED, SK bioscience., among others.

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