Over the years, India has emerged as one of the leading manufacturers of vaccines worldwide, and supplies large quantities of basic and advanced vaccines across the globe. Currently, more than two thirds of the total volume of the vaccines manufactured is exported while the rest is utilised domestically. According to a new report by IMARC titled “Indian Vaccine Market Report and Forecast 2018-2023”, the Indian vaccine market reached a value of around INR 69 Billion in 2017, growing at a CAGR of around 18% during 2010-2017.
The strong growth of the market can be attributed to numerous favourable factors. One of the primary forces that is stimulating the market growth is the increasing investments in research and development (R&D) by government funding agencies like the Department of Biotechnology, the Indian Council of Medical Research, and the Ministry of Health and Family Welfare. The launch of the Universal Immunization Program (UIP) aimed at increased immunization coverage against vaccine preventable diseases in the country, has also significantly added to the market growth. Moreover, with advancement in technology, the vaccine production capacity along with cold chain storage facilities have also been improved. Besides this, the advent of a number of privately owned firms in India have positively transformed the industry. These firms have been making efforts to bring low cost solutions and are increasingly shifting their focus on innovation so as to increase their revenues. Owing to these factors, India has emerged as a global vaccine manufacturing hub.
The report has segmented the Indian vaccine market on the basis of vaccine type. In 2017, varicella accounted for the maximum share of the total monovalent vaccine market in India whereas oral polio accounted for the biggest share of the combined vaccine market in India.The report has also analysed the competitive landscape and provides the profiles of the key players operating in the market. In 2017, GlaxoSmithKline represented the largest player in the Indian vaccine market. Other major players included Sanofi Aventis, Pfizer, Novartis and Serum Institute of India.
This report provides a deep insight into the Indian vaccine industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, pricing analysis, etc. The report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the Indian vaccine industry in any form.
Key Vaccines Covered in the Report
BCG, HIB, Influenza, Varicella, Typhoid, Japanese Encephalitis, Measles, Tetanus Toxoid, Hepatitis A, Rubella, DPT, Polio, MMR, Rotavirus, Hepatitis B, Pneumococcal, Meningococcal, Rabies, HPV, Hexavalent and Dengue
Focus of the Analysis for Each Vaccine
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