Encephalitis Vaccines Market Dynamics
Encephalitis Vaccines Market is the increasing awareness of encephalitis, and the growing prevalence of encephalitis is expected to drive the market growth.
The increasing awareness of encephalitis is expected to drive the global encephalitis vaccines market
The market is being boosted by increased government initiatives for vaccination programs. According to the Center for Vaccine Innovation and Access, the Indian Japanese encephalitis (JE) vaccine program has been a huge success. As of mid-2018, 65 percent of the districts with the vaccine had received routine JE immunisation. Approximately 156 million Indian children have been vaccinated against JE since 2006, and the country continues to self-fund the program by using the low-cost CD-JEV vaccine. In 2018 and 2019, an additional 38 districts have agreed to participate in JE vaccination campaigns. Moreover, in 2018, the CDC and PATH collaborated to convene a group of independent experts to review JE prevention and control successes, identify remaining scientific and operational issues that need to be addressed, discuss opportunities to strengthen JE vaccination programs and identify strategies and solutions to ensure JE control sustainability over the next decade.
The side effects associated with encephalitis vaccines are expected to hamper the market growth
The side effects or complications associated with encephalitis vaccines are expected to restrain the market's growth. For instance, after getting the JE vaccine, patients may experience pain, tenderness, redness, or swelling where the shot was given. Fever can strike at any time (more often in children). It's possible to get headaches or muscle aches (mainly in adults). Severe reactions to the JE vaccine are extremely rare, according to studies. Like any other medicine, a vaccine has a small chance of causing a severe allergic reaction, other serious injuries, or death. For the most part, Vaccines are simple procedures that protect communities from deadly diseases like tuberculosis, measles, and influenza. Patients may, however, experience side effects such as secondary encephalitis as a result of a vaccine. The Vaccine Adverse Event Reporting System has received over 1,100 reports of encephalitis (including brain stem encephalitis) (VAERS).
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COVID-19 Impact Analysis
Due to the cold chain requirements, nearly all vaccine shipments are sent by air. Even though many vaccine shipments were initially hampered by national lockdown measures and airlines' grounding around the world following COVID-19, vaccine shipments recovered well in 2020. Shipping and logistics issues caused some JE vaccine deliveries to be delayed. Due to limited transportation capacity, freight costs skyrocketed, more than tripling due to competing demand. During the pandemic's peak, some charred flights were used to deliver the JE vaccine. While air freight analysts are quietly optimistic that air carriers will increasingly offer fixed rates, some carriers are raising their rates significantly due to ongoing sea freight congestion and a shift in high demand from sea freight to air freight. While carriers may offer fixed rates to UNICEF, UNICEF may be forced to pay premium rates to secure space as cargo space becomes scarce.
Furthermore, due to national regulatory authorities extending batch release procedures in response to the pandemic, the lead time for some JE vaccine procurement orders has increased beyond six months. Some JE manufacturers have reported lower sales and export numbers in 2020, which has had a financial impact on their liquidity (cash flow).
Encephalitis Vaccines Market Segment Analysis
The Japanese encephalitis segment is expected to dominate the market growth in the forecast period
Japanese encephalitis is a virus that infects the brain and is spread by mosquito bites. It is most common in rural areas of Southeast Asia, the Pacific Islands, and the Far East, but it is extremely uncommon among travellers. The virus can be found in pigs and birds, and it is transmitted to mosquitos by biting infected animals. It is estimated that less than one in a million travellers will contract Japanese encephalitis in any given year. The World Health Organization (WHO) estimates that 68,000 cases of Japanese encephalitis occur each year around the world. People who live and work in rural areas, such as pig farms and rice fields, are particularly vulnerable. In approximately 75% of cases, children under 15 are involved. Over the forecast period, the Japanese encephalitis vaccine segment is expected to grow significantly. According to the World Health Organization, the annual number of clinical cases of JE in the world is estimated to be around 68000. Additionally, government initiatives for JE vaccination programmes are boosting the market. China and India have developed national immunisation plans that include mass vaccinations. Due to routine immunization, there is a high demand for JE vaccines in the market. As a result, one of the major growth drivers for the Japanese encephalitis vaccine segment during the forecast period will be the inclusion of vaccination against Japanese encephalitis in national immunization plans.
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Encephalitis Vaccines Market Geographical Analysis
Asia Pacific region is expected to hold the largest market share in the global encephalitis vaccines market
With an estimated 68 000 clinical cases per year, JEV is the most common cause of viral encephalitis in many Asian countries. Although symptomatic Japanese encephalitis (JE) is uncommon, the case fatality rate among encephalitis patients can reach 30%. Japanese encephalitis is a disease that primarily affects Asian countries. The disease has no known cure. As a result, organizations like UNICEF, WHO, and Gavi are focusing on vaccines to prevent the disease from spreading. The JE vaccines have been mandatory for newborn children to ensure maximum immunisation. Manufacturers catering to the region will have incredible opportunities because of this. Furthermore, increased investment in R&D, the entry of new vaccine manufacturers in countries such as India and China, and an increase in the number of travellers in the region and medical tourism are all contributing to the region's market growth.
Encephalitis Vaccines Market Competitive Landscape
The global encephalitis vaccines market is moderately competitive with mergers, collaborations, and product launches. Some of the key players are Valneva SE., Bharat Biotech, BIKEN, Sanofi Pasteur
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