Rotavirus vaccine is used to protect against rotavirus infections which cause severe diarrhoea among young children. Symptoms of rotavirus infection include severe diarrhoea, vomiting, fever, and abdominal pain which can result in disease. The global human rotavirus vaccine market is expected to reach US$ 12.3 billion by 2023, and the market is projected to grow at a CAGR of ~ 11.2 % during the forecast period 2017-2023.
Global Human rotavirus vaccine Market - Competitive Analysis
There are majorly three pharmaceutical companies licensed for rotavirus vaccines, Rotarix that is manufactured by GlaxoSmithKline Biologicals and RotaTeq manufactured by Merck & Co. Inc., a U.S. based company challenging these two major companies an Indian pharmaceutical company Bharat Biotech launched the lowest price rotavirus vaccine named Rotavac. There are various companies are seeking interest in manufacturing of these vaccine due low presence of manufacturers. New necessities for the development, manufacturing and licensure of new vaccine candidates have caused a marked rise in manufacturers’ investment costs. To compensate these investments in research and development and engender profits while the manufacturer monopolizes the market.
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The major factors influencing the growth of the market include increasing government initiatives and funding for research and development, increasing biopharmaceutical and biotechnology industries, increasing incidence of various diseases in childrens, and growing government focus on prevention of diseases. According to the study by National Center for Biotechnology Information, in 2015 rotavirus related diarrhoea was responsible for killing about 600,000 children.
Global Human rotavirus vaccine Market - Market Overview
According to the study it was also been found that more than 80% of all rotavirus-related deaths occurred in in South Asia and sub-Saharan Africa. Across the globe, rotavirus-related deaths denote for approximately 5% of the deaths in children more than 5 years of age. Most of the children are infected with rotavirus at least once by the age of five across the globe. Initiatives have been taken by the World Health Organization (WHO) and has suggested that rotavirus vaccine to be included in national routine vaccinations programs.
The consumptions of these vaccines would be responsible to prevent 15 to 34% of severe diarrhoea in the developing countries and 37 to 96% of severe diarrhoea in the developed nations. The results of these vaccines were to be seen in Mexico. According to World Health Organization (WHO) a decline of up to 50% in diarrhoeal deaths in children less than 5 years of age was attributed directly to the use of the vaccine in the country. The development of these vaccines is significantly impacting and showing positive results, due to which there is huge demand of these vaccines and positively impacting the growth of the market. Moreover there is a huge opportunity in developing countries that is grabbed by various market players for expanding their presence in the region. The market is forecasted to demonstrate a double digit growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period 2017 – 2023.
The company GlaxoSmithKline has offered to deliver this vaccine at price of US$ 2.50 every dose, which creates a 67% decrease over the lowest public price now available. Merck & Co. Inc. has offered to deliver the vaccine at price of US$ 3.5 every dose once the volume of purchase reaches 30 million doses. Although in 2011 there Indian company Bharat Biotech, announced the cost of its vaccine challenging GSK, Merck in the market. With its product Rotavac vaccine, the company quoted the lowest price i.e. 60 rupees that is less than 1$ for three doses of rotavirus vaccine.
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