According to the latest report by IMARC Group, titled "Indian Vaccine Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the Indian vaccine market is expected to grow at a CAGR of 13% during 2023-2028. Vaccine refers to a medicine that aids in protecting against harmful diseases. It utilizes the body’s natural defenses in order to build resistance to infections while making the immune system stronger. It recognizes the invading foreign substance, such as the virus or bacteria, and produces antibodies that act as a barrier to prevent the infections. It is widely available in different forms, such as liquids, injection shots, nasal sprays and pills that defend the body against bacteria and viruses. Some of the commonly utilized vaccines include live-attenuated, inactivated, subunit, recombinant, polysaccharide, and conjugate, toxoid, messenger ribonucleic acid (mRNA) and viral vector vaccines.
Indian Vaccine Market Trends:
The Indian market is primarily driven by significant growth in the pharmaceutical industry. Along with this, the increasing investments by private and public firms for improving the overall pharmaceutical infrastructure is creating a positive market outlook. Moreover, the growing prevalence of life-threatening diseases, such as the rapid outbreak of coronavirus disease (COVID-19), has provided a boost to the demand for vaccines across the country. Additionally, numerous initiatives undertaken by the government of India to administer vaccines torural and underserved areas are impacting the market growth favorably. Furthermore, extensive research and development (R&D) activities conducted by key players for vaccine development, are supporting the Indian vaccine industry to grow significantly. The market is further driven by continual technological advancements in production processes and the advent of improved cold storage facilities.Other factors, including continuous improvements in the healthcare sector, the rising awareness among the masses, low cost of production, continual developments in the supply chain and distribution channels, and the increasing number of research laboratories and clinical centers, are also positively influencing the market across India.
- The market has been analyzed on the basis of various monovalent and combined vaccines into Bacillus Calmette–Guérin (BCG), Haemophilus influenzae type b (Hib), Influenza, Varicella, Typhoid, Japanese Encephalitis, Measles, Tetanus Toxoid, Hepatitis A, Rubella, Diphtheria, Tetanus and Pertussis (DPT), Oral Polio Vaccine (OPV), Measles, Mumps and Rubella (MMR), Rotavirus, Hepatitis B, Pneumococcal, Meningococcal, Rabies, Human Papillomavirus (HPV), Hexavalent and Dengue vaccines.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include GlaxoSmithKline, Sanofi Aventis, Serum Institute of India, Panacea Biotec, Pfizer, Novartis, VHB Lifesciences, Zydus Cadila and MSD.
|Base Year of the Analysis
||Million, INR Million
Scope of the Report
Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Monovalent and Combined Vaccines
|Monovalent and Combined Vaccines Covered
||BCG, HIB, Influenza, Varicella, Japanese Encephalitis, Measles, Tetanus Toxoid, Hepatitis A, Rubella, Diphtheria, Tetanus, and Pertussis (DPT), Oral Polio Vaccine (OPV), MMR, Rotavirus, Hepatitis B, Pneumococcal, Meningococcal, Rabies, HPV, Hexavalent, Dengue vaccines
||GlaxoSmithKline, Sanofi Aventis, Serum Institute of India, Panacea Biotec, Pfizer, Novartis, VHB Lifesciences, Zydus Cadila and MSD.
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