Nasal vaccines offer non-invasive alternate to traditional intramuscular or intravenous vaccines. Nasal vaccines mimic the natural route of infection, thereby inducing mucosal as well as systemic immune responses. This leads to the production of sIgA at mucosal surfaces like inner lining of nose and lungs that provides first line of defense against respiratory infections.
The global Nasal Vaccines Market is estimated to be valued at US$ 416.8 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The uptake of thermostable nasal vaccines has accelerated market growth. Traditional nasal vaccines need to be kept under refrigerated conditions for transportation and storage, which poses logistical challenges especially in remote locations with limited cold chain infrastructure. However, the introduction of thermostable nasal vaccines that do not require refrigeration has helped in expanding their accessibility in such regions. Thermostable nasal vaccines against influenza and COVID-19 have potential to increase vaccination rates globally as they simplify transportation and storage processes. This in turn is expected to drive higher adoption of nasal vaccines over the forecast period.
Segment Analysis
The global nasal vaccines market is dominated by the live-attenuated influenza vaccine sub-segment. This is because live-attenuated influenza vaccines provide long-lasting protection compared to injected influenza vaccines. They induce both systemic and mucosal immunity which helps fight the influenza virus if it enters through the nasal passages. Additionally, they are better tolerated by children compared to intramuscular vaccines.
Key Takeaways
The Global Nasal Vaccines Market Size is expected to witness high growth. The market size is projected to reach US$ 888.3 Mn by 2030 from US$ 416.8 Mn in 2023, expanding at a CAGR of 8.6% during the forecast period.
Regional analysis
North America accounted for the largest share of the global nasal vaccines market in 2023. The high awareness about vaccinations and presence of prominent players like AstraZeneca and Pfizer are fostering market growth in the region. Asia Pacific is expected to witness the fastest growth over the forecast period due to improving healthcare infrastructure and rising government focus on vaccination programs in populous countries like India and China.
Key players
Key players operating in the nasal vaccines market are AstraZeneca, GlaxoSmithKline plc, Pfizer Inc., Serum Institute of India Pvt. Ltd., Sanofi Pasteur SA, Johnson & Johnson Services, Inc., Sinovac Biotech Ltd., Bharat Biotech International Limited, Altimmune, Inc., BiondVax Pharmaceuticals Ltd., FluGen Inc., Vaxart, Inc., Intravacc, Ennaid Therapeutics, LLC, Gamma Vaccines Pty Ltd. AstraZeneca's FluMist Quadrivalent is the leading nasal influenza vaccine globally.
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The global Nasal Vaccines Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Nasal Vaccines Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/nasal-vaccines-market/download-sampleMarket DynamicsThe rising prevalence of influenza infections among the global population and the emphasis on faster vaccination systems will be the primary stimulants for this market's growth.
The high potential of nasal delivery to facilitate cheap and massive immunization campaigns, especially for rapidly spreading infections like the coronavirus, will benefit market growth.
Increased acceptance of nasal vaccines in children and adults to treat flu, allergy, and long-lasting chronic diseases will further propel market growth.
The current development in nanotechnology, imaging, and administration devices has enabled this market to grow faster.
