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2024-2033 Chickenpox Vaccine Market Growth Rate: What’s the Forecast?

In the past few years, the market size for the chickenpox vaccine has shown considerable growth. From 2023 to 2024, the market is expected to expand from $3.38 billion to $3.61 billion, with a compound annual growth rate (CAGR) of 6.7%. This growth during the historical period is due to factors like vaccine development, regulatory approvals, disease prevalence, vaccination policies, and public health initiatives.

In the upcoming years, the chickenpox vaccine market is projected to experience substantial growth, with an expected value of $4.64 billion in 2028, growing at a compound annual growth rate (CAGR) of 6.5%. The factors contributing to the growth during this forecast period include public trust and perception, readiness for pandemics, research advances, demand from emerging markets, and developments in healthcare infrastructure. Key trends anticipated during this period involve awareness campaigns about vaccines, monitoring of adverse events, pricing strategies for vaccines, innovative advancements, and the application of Artificial Intelligence.

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What Drivers Are Accelerating the Growth of the chickenpox vaccine Market?

The surging instances of chickenpox are forecasted to accelerate the growth of the chickenpox vaccine market. Chickenpox disease, a severe infection prompted by varicella-zoster virus (VZV), causes a fluid-filled, itchy rash. The rise in chickenpox cases necessitates an increase in varicella vaccine use, thereby boosting the demand for chickenpox vaccines. As per a report issued by the Centers for Disease Control and Prevention (CDC), a US-based global public health agency, in April 2021, approximately 4 million people are afflicted by chickenpox annually in the USA. Over 10,500 of these people require hospitalization, and between 100 and 150 unfortunately succumb to the disease. Consequently, the escalating instances of chickenpox disease are propelling the growth of the chickenpox vaccine market.

What Key Segments Can Be Identified in the Chickenpox Vaccine Market?

1) By Vaccine: Monovalent varicella vaccine, Combination varicella vaccine

2) By Application: Mumps, Measles, Rubella, And Varicella Immunization, Herpes Zoster Immunization, Chickenpox Vaccination

3) By End-Users: Hospitals, Clinics, Other End-Users

What Trends Are On the Rise in the Chickenpox Vaccine Market?

A significant trend impacting the chickenpox vaccine market is the development of new drugs. A number of leading companies in the field are creating innovative medicines that offer enhanced efficacy, pioneering derivatives and more in an effort to maintain their market standing. An example of this phenomenon occurred in November 2022, when Sinovac Biotech Ltd., a Chinese company specializing in vaccine research, development, and creation, announced the World Health Organization (WHO) had prequalified its live attenuated chickenpox (varicella) vaccine. This was indeed the first varicella vaccine in the world to receive this prequalification. The varicella vaccine comes from the Oka strain and is manufactured exclusively in SINOVAC’s Human Diploid Cell (SV-1 strain). This cell is produced by growing and harvesting the virus, which is then supplemented with stabilizers and freeze-dried. A phase III efficacy trial demonstrated that the vaccine had a 97.1% seroconversion rate among a group of vaccinated children ranging from 1 to 12 years of age. The vaccine provided 87.1% and 89.2% protection against varicella and breakthrough varicella, respectively. It also offered complete protection from mild and severe conditions.

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What Regions Are Steering Growth in the Chickenpox Vaccine Sector?

North America was the largest region in the chickenpox vaccine market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chickenpox vaccine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Chickenpox Vaccine Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the chickenpox vaccine market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Chickenpox Vaccine Market Include

1. Chickenpox Vaccine Market Executive Summary

2. Chickenpox Vaccine Market Segments

3. Chickenpox Vaccine Market Size And Template Market Growth Rate

4. Key Chickenpox Vaccine Market Trends

5. Major Chickenpox Vaccine Market Drivers

……

25. Key Mergers And Acquisitions In The Chickenpox Vaccine Market

26. Top Chickenpox Vaccine Companies

27. Chickenpox Vaccine Market Opportunities And Strategies

28. Chickenpox Vaccine Market, Conclusions And Recommendations

29. Appendix

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