Chickenpox Vaccine Global Market Report 2024

The chickenpox vaccine market size has grown strongly in recent years. It will grow from $3.38 billion in 2023 to $3.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. Historical growth can be attributed to various factors including the development of vaccines, regulatory approvals for their usage, disease incidence rates, vaccination policies, and public health initiatives aimed at promoting immunization.

The chickenpox vaccine market size is expected to see strong growth in the next few years. It will grow to $4.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. Anticipated growth in the upcoming period is tied to factors such as public perception and trust, preparedness for pandemics, continued research and development efforts, growing demand in emerging markets, and ongoing development of healthcare infrastructure. Major trends expected in this forecast period encompass initiatives focused on vaccine education campaigns, the implementation of adverse event monitoring systems, strategies for vaccine pricing, advancements in innovation, and the utilization of AI in vaccine development and distribution.

The anticipated rise in the prevalence of chickenpox disease is set to significantly propel the expansion of the chickenpox vaccine market. Chickenpox, caused by the varicella-zoster virus (VZV), manifests as a highly contagious infection characterized by a blister-such as rash accompanied by itching. The surge in reported cases of chickenpox underscores the heightened necessity for varicella vaccine immunization, consequently driving up the demand for chickenpox vaccines. As an illustration, a report released by the Centers for Disease Control and Prevention (CDC) in April 2021 highlighted that in the USA alone, approximately 4 million individuals contract chickenpox annually, leading to over 10,500 hospitalizations and tragically resulting in between 100 and 150 fatalities. This escalating prevalence of chickenpox disease stands as a primary catalyst propelling the growth trajectory of the chickenpox vaccine market.

The projected upsurge in the chickenpox vaccine market is expected to be fueled by a growing recognition of the advantages associated with vaccination. Vaccination, a medical procedure involving the introduction of weakened or inactive forms of viruses or bacteria into the body, has gained increased attention due to its role in mitigating diseases. Elevated awareness regarding the benefits of the chickenpox vaccine is instrumental in promoting higher vaccination rates, consequently leading to a decline in the overall incidence of the disease. Notably, the World Health Organization (WHO) released its Global Vaccine Market Report 2022 in November 2022, highlighting significant disparities driven by limited vaccine supply and unequal distribution globally. The report indicated a substantial increase in the vaccine supply, with approximately 16 billion doses, valued at $141 billion, supplied in 2021 - nearly three times the market volume observed in 2019, predominantly attributed to the production of COVID-19 vaccines. This heightened awareness regarding the advantages of vaccination stands as a key driver propelling the growth of the chickenpox vaccine market.

The prevailing trend in the chickenpox vaccine market revolves around novel drug developments aimed at enhancing efficacy and introducing innovative derivatives. Leading companies within the market are focused on advancing new drugs to reinforce their position. Notably, in November 2022, Sinovac Biotech Ltd., a China-based company specializing in vaccine research, development, and manufacturing, announced a significant milestone: the World Health Organization (WHO) granted prequalification status to its live attenuated chickenpox (varicella) vaccine. This vaccine stands as the world's first varicella vaccine to receive such prequalification. The vaccine draws from the Oka strain and is cultivated in the exclusive Human Diploid Cell (SV-1 strain) developed by SINOVAC. The production process involves cultivating and harvesting the virus, incorporating stabilizers, and freeze-drying it. During a phase III efficacy trial among children aged 1 to 12 years, the vaccine demonstrated a remarkable 97.1% seroconversion rate in the vaccinated group. Moreover, its efficacy against varicella and breakthrough varicella stood at 87.1% and 89.2%, respectively. Notably, the vaccine showcased 100% efficacy in preventing both mild and severe conditions associated with chickenpox. This innovative vaccine represents a significant advancement in bolstering the arsenal against varicella infection within the market.

Major players in the chickenpox vaccine market are heavily focusing on research and development investments to introduce innovative vaccine formulations. Research and development (R&D) investments entail the allocation of funds by various entities, including companies, governments, or research institutions, toward activities aimed at fostering innovation and progress in their respective fields. For example, in February 2022, as reported by GOV.UK, the UK government earmarked £10 million specifically for vaccine research directed at combating potential epidemics in developing nations. This substantial investment forms part of a larger commitment wherein £134 million of Official Development Assistance (ODA) was pledged between 2016 and 2021 for vaccine development targeting epidemic diseases. The government’s UK Vaccine Network has selected 22 research projects that aim to tackle viruses such as Ebola, Lassa fever, and Zika. These investments underscore a significant commitment to advancing vaccine research to address critical health challenges and enhance global public health efforts.

In July 2022, GC LabCell, a prominent biotechnology company based in South Korea, finalized a definitive merger agreement with GC Cell Corporation, also based in South Korea, which specializes in the production of chickenpox vaccine. This strategic merger unites two distinguished biopharmaceutical entities from South Korea, each with its unique strengths and portfolios. The combined entity benefits from highly complementary portfolios, bolstered by an extensive cell therapy research and development pipeline. Additionally, the merger leverages cutting-edge manufacturing capabilities, positioning the consolidated company to expedite its growth trajectory significantly. This strategic move is expected to foster accelerated growth and enhance value creation within the biopharmaceutical landscape.

Major companies operating in the chickenpox vaccine market report are Pfizer Inc., Merck & Co Inc., Novartis AG, Sanofi Pasteur, AstraZeneca plc., GlaxoSmithKline plc, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, CSL Limited, Daiichi Sankyo Company Limited, Mitsubishi Tanabe Pharma Corporation, Zydus Lifesciences Limited, Green Cross Corporation, Sinovac Biotech Ltd., GC Biopharma Corp., Emergent BioSolutions Inc., Bharat Biotech, Novo Medi Sciences Pvt. Ltd., Hualan Biological Engineering Inc., Chongqing Zhifei Biological Products Co. Ltd., Walvax Biotechnology Co. Ltd., Bavarian Nordic A/S, Valneva SE, Serum Institute of India, Shenzhen Kangtai Biological Products Co. Ltd., SK Bioscience Co.Ltd., Biological E. Limited, PanGen Biotech Inc., Bio-Med, Parc-vaccinogène en Instituut Pasteur, Lucky Chemical Industrial Corporation, Biocad India Private Limited, Virchow Biotech Pvt. Ltd.

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 countries covered in the chickenpox vaccine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The chickenpox vaccines market consists of sales of single-antigen varicella vaccines and mixed-antigen varicella vaccines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.