Nasal Vaccines Market Anticipated to Reach US$ 742.6 Million, Globally, by 2030 at 8.6% CAGR: Coherent Market Insights (CMI)

Burlingame, July 25, 2023 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, “Nasal Vaccines Market, By Vaccine type (Live attenuated vaccines, Inactivated vaccines, Subunit, recombinant, and conjugate vaccines, Others (such as DNA vaccines, viral vector vaccines, etc.)), By Application (Influenza, COVID-19, Other respiratory infections (such as RSV, pneumococcal, etc., Others (such as cholera, typhoid, etc.)), By End user (Pediatrics, Adults, Geriatrics, Others (such as travelers, military personnel, etc.): Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030.” According to the nasal vaccines market is estimated to be valued at US$ 416.8 million in 2022 and is expected to exhibit a CAGR of 8.6% during the forecast period (2022-2030).

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Analysts’ Views on Global Nasal Vaccines Market

Rising prevalence of respiratory infections, ongoing COVID-19 pandemic, and rise in research and development activities are major factor propelling growth of the nasal vaccines market. Moreover, growing demand for non-invasive vaccine delivery methods, and increasing government initiatives for vaccination programs are other factors boosting the growth of this market.

Key Trends and Analysis of the Global Nasal Vaccines Market:

Factors such as non-invasive and easy administration of nasal vaccines are contributing to the immense popularity of these vaccines. This trend is expected to continue in the near future due to to the ongoing advancement in the medical field and the growth of the global Nasal Vaccines market is projected to be high.

Global Nasal Vaccines Market - Drivers

Growing prevelance of respiratory disease to foster market growth

Rise in prevalence of infectious respiratory disease is playing important role in the overall development of nasal vaccines market. According to the World Health organization, in the region of the Americas in 2019, chronic respiratory diseases account for: 534,242 deaths in both sexes, 267,516 (50%) deaths in men and 266,725 (50%) in women. 35.8 deaths per 100,000 population (age-standardized), which was higher in men (42.2 deaths per 100,000) than in women (31.0 deaths per 100,000 population).

Nasal Vaccines Market Report Coverage

Growing demand for pediatric vaccination is driving nasal vaccine market growth

Nasal vaccines are gaining popualirty in pediatric vaccination category and this is expected to uplift the market growth in the near future. Moreover, ongoing research and development activities in the field is again expected to propel nasal vaccine market growth. For instance, in August 2021, Indian company Bharat Biotech has recieved approval from the country’s drug regulator to conduct a Phase II clinical trial of its intranasal Covid-19 vaccine candidate, BBV154, in healthy subjects. BBV154 is a replication-deficient chimpanzee adenovirus SARS-CoV-2 vectored vaccine. The technology was in-licensed by the company from Washington University in St Louis, US.

Global Nasal Vaccines Market – Restrain

Regulatory hurdles for approval of nasal vaccines is expected to hamper market growth

Challenges associated with the launch of vaccines such as demonstrate efficacy, safety, and quality standards for intranasal administration are hindering the market growth. Moreover, obtaining approvals is time-consuming and expensive process, this delay the market penetration, thereby restricting the market growth.

Global Nasal Vaccines Market – Opportunities

Outbreak of COVID-19 had offered potential market growth opportunities for key players

The COVID-19 pandemic had offered significant opportunities for key players in the market. In order to prevent the spread of infection key players in the market have introduce nasal vaccines in COVID-19 category. For instance, in March 2023, Pfizer Inc. announced the U.S. Food and Drug Administration (FDA) has approved ZAVZPRET™ (zavegepant), the first and only calcitonin gene-related peptide (CGRP) receptor antagonist nasal spray for the acute treatment of migraine with or without aura in adults.

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Global Nasal Vaccines Market - Key Developments

In September 2022, The National drug regulator has given the green signal to the India's first intra-nasal Covid vaccine for emergency use in adults. Called iNCOVACC and manufactured by Bharat Biotech, the company behind Covaxin, the new vaccine has been approved for primary immunisation — it can be administered only to the unimmunised.

In October 2020, CEPI, the Coalition for Epidemic Preparedness Innovations, and Dutch vaccine clinical development and manufacturing organization, Intravacc, announced the latest funding award under CEPI’s US$200m programme to advance the development of vaccines that provide broad protection against SARS-CoV-2 (including its variants) and other Betacoronaviruses.

Key Market Takeaways:

Global nasal vaccines market is expected to exhibit a CAGR of 8.6% during the forecast period, owing to growing demand for non-invasive drug administration technology coupled with the growing prevalence of infectious respiratory disease.

On the basis of Vaccine Type, Live attenuated vaccines segment is expected to hold a dominant position, owing to the growing government funding in vaccination programs and rising prevalence of infectious disease.

On the basis of Application, Influenza segment is expected to hold a dominant position, owing to the high prevalence of influenza. According to the Our World In Data, the flu is estimated to cause 400,000 respiratory deaths each year on average across the world. These deaths come from pneumonia and other respiratory symptoms caused by the flu.

On the basis of Adults, Adults segment is expected to hold a dominant position, owing to the growing high prevalence of infectious disease coupled with the increasing adult population. Moreover, growing demand for non-invasive vaccine delivery methods is again fueling segment growth.

On the basis of region, North America is expected to hold a dominant position over the forecast period, due to the presence of well-established healthcare infrastructure and advanced research capabilities.

Competitive Landscape:

Key players operating in the global Nasal Vaccines market include AstraZeneca, GlaxoSmithKline plc, Pfizer Inc., Serum Institute of India Pvt. Ltd., Sanofi Pasteur SA, Johnson & Johnson Services, Inc., Sinovac Biotech Ltd., Bharat Biotech International Limited, Altimmune, Inc., BiondVax Pharmaceuticals Ltd., FluGen Inc., Vaxart, Inc., Intravacc, Ennaid Therapeutics, LLC, Gamma Vaccines Pty Ltd.

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Detailed Segmentation:

Global Nasal Vaccines Market, By Vaccine type:

• Live Attenuated Vaccines
• Inactivated Vaccines
• Subunit, Recombinant, and Conjugate Vaccines
• Others (such as DNA Vaccines, Viral Vector Vaccines, etc.)

Global Nasal Vaccines Market, By Application:

• Influenza
• COVID-19
• Other Respiratory Infections (such as RSV, Pneumococcal, etc.)
• Others (such as Cholera, Typhoid, etc.)

Global Nasal Vaccines Market, By End User:

• Pediatrics
• Adults
• Geriatrics
• Others (such as Travelers, Military Personnel, etc.)

Global Nasal Vaccines Market, By Region:

• North America
  • By Country:
    • U.S.
    • Canada
• Latin America
  • By Country:
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
• Europe
  • By Country:
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
• Asia Pacific
  • By Country
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
• Middle East
  • By Country:
    • GCC Countries
    • Israel
    • Rest of Middle East
• Africa
  • By Country/Region:
    • South Africa
    • Central Africa
    • North Africa

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