The global Nasal vaccine market is estimated to be valued
at US$ 416.8 million 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 Overview
Nasal vaccines are formulated to be administered through the nasal route which
allows for direct immunization of the mucosal surfaces of the nasal cavity,
pharynx and bronchial regions. They provide both systemic and mucosal immunity
and offers advantages like needle-free, painless modes of delivery, induction
of protective immunity at the portal of infection and stability at ambient
temperatures.
Market key trends
One of the key trends in the nasal vaccines market is the increasing focus on
research and development of nasal vaccines for diseases without existing
vaccines. For instance, FluGen is developing a bivalent flu vaccine candidate
called M2SR, which elicits humoral and cell-mediated immune responses against
two influenza virus strains. This increases the breadth of protection and could
help reduce the frequency of vaccine strain updates. The global nasal vaccine
pipeline is robust with candidates for various diseases in different stages of
development, which is expected to fuel market growth over the forecast period.
Segment Analysis
The global nasal vaccines market is segmented by type and application. Based on
type, the intranasal live attenuated vaccines segment dominated the market in
2023 and is expected to maintain its dominance over the forecast period. This
segment captured around 55% of the market share in 2023 owing to its efficacy
and advantages over intramuscular vaccines such as needle-free and non-invasive
route of administration.
Key Takeaways
The global nasal vaccines market size is expected to grow at a CAGR of 8.6%
during the forecast period of 2023 to 2030, reaching a market size of US$ 416.8
million in 2023. The market is projected to reach US$ 752.3 million by 2030.
This high growth can be attributed to increasing awareness about the benefits
of nasal vaccines over intramuscular vaccines and supportive government
initiatives for vaccine development.
Regional Analysis
The US accounted for the largest share of the
global
nasal vaccines market in 2023 and is expected to maintain its dominance
over the forecast period. The large share and high growth can be attributed to
supportive regulatory environment, high healthcare expenditure, and presence of
major players in the country. Asia Pacific region is expected to witness the
fastest growth over the forecast period due to large population base,
increasing government focus on immunization programs, and growing healthcare
expenditure.
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.
Read More:
https://www.dailyprbulletin.com/nasal-vaccines-market-connected-with-market-key-trends-outline-as-a-part-of-heading/
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