Rotavirus Vaccines Market
Number of pages: 100 | Report Format: PDF | Published date: April 13, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 2.50 billion |
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Market Size Value in 2031 |
US$ 3.94 billion |
|
CAGR |
5.1% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
|
Segments Covered |
Type, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global rotavirus vaccines market was valued at US$ 2.50 billion in 2022 and is expected to register a revenue CAGR of 5.1% to reach US$ 3.94 billion by 2031.
Rotavirus Vaccines Market Fundamentals
Rotavirus vaccines are designed to protect against rotavirus infection. Rotavirus is highly contagious and causes gastroenteritis, a common illness resulting in severe diarrhea and vomiting, especially in infants and young children. Rotavirus vaccines are highly effective in preventing severe diarrhea and dehydration caused by rotavirus infection. They are recommended by the World Health Organization (WHO) for use in all countries, particularly in low- and middle-income countries where rotavirus disease is most common and where the burden of the disease is highest. The rotavirus vaccines are important in preventing severe rotavirus gastroenteritis in infants and young children. The vaccines have demonstrated high efficacy and safety profiles and have contributed to a decline in the incidence of rotavirus gastroenteritis in many countries.
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Rotavirus Vaccines Market Dynamics
Rotavirus infection is one of the leading causes of severe diarrhea in children under five years of age. For instance, according to an article published by WHO, rotaviruses are the most prevalent cause of severe diarrhea in newborns and young children worldwide. There is a growing awareness among parents and healthcare providers about the importance of vaccinating children against rotavirus. This awareness is leading to an increase in the demand for rotavirus vaccines.
Additionally, many government organizations around the world are implementing vaccination programs to increase the coverage of rotavirus vaccines is also helping in the growth of the global rotavirus vaccines market. Developing new and improved rotavirus vaccines with better efficacy and safety profiles is driving the revenue growth of the global rotavirus vaccine market. Moreover, many pharmaceutical companies and research institutions are investing heavily in research and development activities to develop new and improved rotavirus vaccines. This investment is driving innovation in the field and contributing to market revenue growth.
However, the cost of rotavirus vaccination can be a barrier for many families, particularly in low-income countries. This can limit the demand for rotavirus vaccines, particularly in regions where there is a high burden of disease, and results in limiting the market revenue share. Despite government initiatives to increase vaccination coverage, many children in low-income countries still lack access to rotavirus vaccines due to weak healthcare systems and infrastructure. Additionally, limited efficacy in some settings, limited access to vaccines, and competition from alternative treatments impede the overall rotavirus vaccine market revenue growth.
Rotavirus Vaccines Market Ecosystem
The global rotavirus vaccines market is analyzed from three perspectives: type, end user, and region.
Rotavirus Vaccines Market by Type
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Based on the type, the global rotavirus vaccines market is segmented into Rotarix, Rotavac, RotaTeq, and others.
The Rotarix segment dominated the market with a significant revenue share in 2022. Rotarix is one of the leading rotavirus vaccines available in the global market. It is a monovalent, live attenuated vaccine administered orally to infants. This strain has undergone multiple passages in tissue culture, and the resulting attenuated vaccine strain, RIX4414, is propagated in Vero cells. Rotarix is a ready-to-use liquid formulation with two presentations, a single-dose squeezable plastic tube, and a multi-mono dose presentation with a strip of 5 single-dose plastic tubes. Rotarix is a vaccine to prevent rotavirus gastroenteritis caused by the G1 and non-G1 rotaviruses. Clinical studies have demonstrated that Rotarix effectively prevents severe rotavirus gastroenteritis caused by the G1 and non-G1 rotaviruses. The vaccine is up to 95% effective in preventing severe rotavirus gastroenteritis. Rotarix is administered orally twice, typically at 2 and 4 months of age. The vaccine is easy to administer and does not require injection. These factors contribute to the revenue growth of the Rotarix segment.
Similarly, the Rotavac vaccine also accounted for a prominent market revenue share. RotaTeq is a rotavirus vaccine developed by Merck & Co. and marketed globally. It is available worldwide and has been approved for infants in more than 100 countries. It has demonstrated high efficacy in clinical trials. Studies have shown that it can protect against severe rotavirus gastroenteritis in up to 74-98% of vaccinated infants, depending on the strain of the virus.
The Rotovac rotavirus vaccine is expected to be the fastest-growing segment in terms of revenue share during the forecast period, owing to its low cost and easy availability. Rotavac is a rotavirus vaccine the Indian government developed in collaboration with various international organizations and private sector partners. Rotavac was created to provide an affordable and effective rotavirus vaccine in low-income countries. The vaccine was developed by partnering with the Indian government, the Department of Biotechnology, the National Institute of Allergy and Infectious Diseases, and other international partners. Rotavac has a good safety profile and has been extensively studied in clinical trials. Adverse events following vaccination are rare and generally mild. Rotavac is available in India and has been approved in many other low-income countries. The vaccine is priced affordably and is available through various immunization programs. These factors contribute to the revenue growth of the RotaTeq rotavirus vaccine segment.
Rotavirus Vaccines Market by End User
Based on the end user, the global rotavirus vaccines market is segmented into hospitals, clinics, academics & research, and others.
The hospital segment is a key player in the rotavirus vaccines market, with the largest revenue share in 2022. Hospitals are one of the primary settings where rotavirus vaccines are administered. Healthcare professionals, including doctors, nurses, and other medical staff, provide the vaccine to infants in hospitals and other medical facilities. Many hospitals are involved in national immunization programs, which provide rotavirus vaccines to infants and young children. These programs help to ensure that all eligible infants have access to vaccination, regardless of their socio-economic status. Hospitals can also play a critical role in providing access to rotavirus vaccines in low-income countries. In these settings, hospitals may partner with government agencies, non-profit organizations, and other stakeholders to provide the vaccine at an affordable price or for free. These overall factors contribute to the revenue growth of the hospital segment.
The academics and research segment also accounted for a prominent revenue share of the market, owing to the research and development efforts conducted by academic and research institutions helping to advance the development of new and improved rotavirus vaccines. Academic and research institutions play a critical role in developing new rotavirus vaccines. These institutions often receive funding from governments, non-profit organizations, and private companies to conduct basic and clinical research on rotavirus vaccines. They also conduct studies to evaluate the efficacy and safety of rotavirus vaccines. These studies help determine the vaccine’s optimal dose, schedule, and formulation. Academic and research institutions may also be involved in rotavirus disease surveillance and monitoring. They may conduct studies to monitor the incidence and prevalence of rotavirus gastroenteritis and its impact on the population. These overall factors contribute to the revenue growth of the academics and research segment.
Rotavirus Vaccines Market by Region
Based on region, the global rotavirus vaccines market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global rotavirus vaccines market with the largest revenue share in 2022, attributed to a large number of healthcare institutions, including hospitals, clinics, and medical offices, which have a critical need for accurate patient identification, data security, and access control. Additionally, companies across the region are continuously launching new and novel products, which are expected to improve the rotavirus vaccine market outlook. For instance, in November 2022, the FDA approved an oral dosing applicator-only presentation of Rotarix. This live oral rotavirus vaccine is designed to prevent gastroenteritis caused by G1 and non-G1 types in infants. Previously, the vaccine was available as a vial and oral dosing applicator presentation that required reconstitution before use. Rotarix’s newly approved liquid formulation eliminates the need for reconstitution or dilution before use. The decision was supported by international clinical trial data demonstrating the new formulation’s noninferiority of immunogenicity compared to the lyophilized formulation. Additionally, a randomized, multi-country phase 3 study showed similar safety profiles for the liquid and lyophilized formulations.
Competitive Landscape of the Global Rotavirus Vaccines Market
The prominent players operating in the global rotavirus vaccines market are:
Strategic Developments in the Rotavirus Vaccines Market
Rotavirus vaccines are vaccines that are designed to protect against rotavirus infection.
The expected size of the global rotavirus vaccines market in 2031 is US$ 3.94 billion.
The revenue CAGR of the rotavirus vaccines market during the forecast period is expected to be 5.1% from 2023 to 2031.
The limited efficacy in some settings, limited access to vaccines, and competition from alternative treatments restrict the global rotavirus vaccines market revenue growth to its full potential.
Some prominent players operating in the global rotavirus vaccines market are Serum Institute of India Pvt. Ltd., GlaxoSmithKline Plc, AstraZeneca, Bavarian Nordic, and Novartis AG.
*Insights on financial performance are subject to the availability of information in the public domain