The economic strain caused by livestock and zoonotic diseases are likely to trigger the demand for LAVs. In 2001, the Foot and Mouth Disease (FMD) had cost the government in the U.K. close to USD 3.7 billion. Regulations by international health organizations for the use of livestock attenuated vaccines to control the spread of infectious diseases can augur favorably for the market. Benefits such as improved animal health, reduced antimicrobial use, and improvements for the welfare of the public will ensure in the production of LAVs.
The global Live Attenuated Vaccines Market valuation can touch USD 45.2 billion by 2023. It stood at USD 34.2 billion in 2016. The market is predicted to display a CAGR of 10.7% over the forecast period. Awareness of vaccines, rise in government funds for vaccination programs, and prevalence of livestock diseases are major drivers of the market. The improvement in healthcare infrastructure, presence of veterinarians in rural areas, and efforts for prevention of infectious diseases are other drivers.
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However, restriction on the use of vaccines on some diseases can hamper the market growth.
CSL Limited, Astellas Pharma Inc., Serum Institute of India Pvt. Ltd., GlaxoSmithKline, plc., Merck & Co., Sanofi, MedImmune, LLC, Emergent BioSolutions, Inc., Johnson & Johnson, and Pfizer, Inc.
The global live attenuated vaccines market is segmented by type, vaccine development, and end users.
Global live attenuated vaccines market is segmented on the basis of type, which includes bacterial and viral vaccines. Bacterial vaccines consists of BCG vaccine, while the viral vaccine segment is further segmented into rotavirus, oral polio vaccine (OPV), measles, yellow fewer, and other viral vaccines.
By vaccine development, the market is segmented into live animals, tissue culture, and embryonated eggs.
On the basis of end users, it is sub-segmented into diagnostic centers, research institutes, hospitals, clinics, and others.
The Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA) are key regions considered in the global live attenuated vaccines market.
The Americas is expected to lead in the market owing to the large contribution by North America. Initiatives by governments for combating diseases outbreaks such as Africa swine fever (ASF) and influenza as well as management of vaccination camps can ensure the growth of the global live attenuated vaccines market. Prevention of diseases can protect animals and not have a negative impact on trade and promise the safe consumption of meat, eggs, and milk among the masses.
Europe is the second largest region in the global live attenuated vaccines market. Rise of funding for vaccine development and outbreak of infectious diseases among livestock can trigger the need for LAVs. Rising number of patents for alleviating ASF and Bluetongue as well as development of public-private partnerships are likely to influence the regional market growth. Increased efforts to improve the performance and efficacy of LAVs in long term controlled experiments will be witnessed in the coming years.
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