Need for protection against the Coronaviridae virus and its strains is driving the growth of India coronavirus vaccine market, in the forecast period, FY2017-FY2027
According to TechSci report on, “India Coronavirus vaccine Market By Infection Type (SARS-CoV, MERS-CoV, SARS-CoV-2) By Vaccine Type (Virus vaccine, Viral vector vaccine, Nucleic acid vaccines, Protein based vaccine, Others) By Product Type (Monovalent Vaccine v/s Multivariant Vaccine) By Route of Administration (Oral, Intramuscular, Intranasal) By Patient Type (Pediatric v/s Adult) By End User (Hospitals, Clinics, Research Institutes, Others) By Region, Competition Forecast & Opportunities, FY2027”, India coronavirus vaccine market has shown promising growth in historical years until FY2020 and is expected to continue its growth in upcoming forecast years from FY2022 to FY2027. Governmental aids to enhance the research and development of the prevention drugs and finding the solution to the fastest growing pandemic is driving the growth of the India coronavirus vaccine market. Key players are actively involved in enhancing the quality of the drugs as well as the easier distribution of the vaccine all over the country. The private investments are also boosting the growth of the India coronavirus vaccine market in the upcoming five years. Moreover, inorganics developments like collaborations among the players, agreements with the distributors for the effective supply of the drugs to the end users, are major growth factors behind the impressive CAGR of India coronavirus vaccine market.
Wuhan City, China was the firstly discovered geography where the COVID-19 virus outbreak was addressed. Within next 3 months, world health organization (WHO) confirmed the outbreak to be a pandemic and death threat to the human population. This catastrophic pandemic has already claimed millions of lives and although the precaution measures are widely accepted, the number of cases has not yet died. With the spur of variant strains of the virus, a new wave of infection is still suspected. This would support the market growth since the death threat is concerning. Also, increasing healthcare expenditures is going to support the market growth, actively.
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India coronavirus vaccine Market is segmented by infection type, vaccine type, product type, route of administration, patient type, end user, regional distribution, and competitional landscape. Based on infection type the market is categorized into SARS-CoV, MERS-CoV, and SARS-CoV-2. Infections caused by SARS-CoV-2 is considered most lethal and easily transmitted, thus can be reasoned for maximum market share because it is causing pandemic all over the world including India at a rapid pace. The transmission is as simple as basic contact, droplet, airborne, fomite, faecal-oral, bloodborne, mother-to-child, and animal-to-human transmission. SARS-CoV is a less lethal but a similar strain of the coronavirus, whereas MERS-CoV is specific to Middle East countries and is contagious and sometimes fatal.
Based on product type, the market is categorized into monovalent vaccine, and multivariant vaccine. Monovalent vaccines are specific antigen targeting vaccines. Whereas multivariant vaccines target multiple antigens or here, multiple strains of the same virus making it preferable. Even in the current year 2021, country still faces the threat from the evolving strains of the virus causing concerns toward the threatening pandemic that may reinstate the complete lockdown situation. Based on these facts, multivariant vaccines are anticipated to dominate the market in the forecast period.
Based on route of administrations the market is further segmented into oral, intramuscular, and intranasal. Intramuscular administration through injecting the vaccines in two stages is prevalent in the country. Therefore, intramuscular route of administration is anticipated to dominate the future market. Oral administrations may have the largest share owing to the availability of the vaccine for infants and children. Intramuscular and intranasal administration is often painful and may cause physical irritation effects whereas oral vaccines are completely painless and has ease of administration.
Some of the top players in the India coronavirus vaccine market are, 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., among others. The companies are involving themselves into research and development for the methods of better quality, and various quality analysis tests to provide the better products.
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“India coronavirus vaccination system is following a systematic approach to administer the vaccines to all the population. Elderly, children and patient population was administered early looking at the chances of infection to be more in them. By the end of FY2021, system allowed all the population to complete their vaccination process. Although the number of cases has decreased significantly, the country is also struggling with new strain spread. general awareness and concerns among the population will increase vaccination process. Moreover, west India is a promising region for the market looking at the still increasing cases of corona patients in states like Maharashtra,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Coronavirus vaccine Market By Infection Type (SARS-CoV, MERS-CoV, SARS-CoV-2) By Vaccine Type (Virus vaccine, Viral vector vaccine, Nucleic acid vaccines, Protein based vaccine, Others) By Product Type (Monovalent Vaccine v/s Multivariant Vaccine) By Route of Administration (Oral, Intramuscular, Intranasal) By Patient Type (Pediatric v/s Adult) By End User (Hospitals, Clinics, Research Institutes, Others) By Region, Competition Forecast & Opportunities, FY2027” has evaluated the future growth potential of India coronavirus vaccine market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Coronavirus vaccine market.
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