The Nasal Vaccines Market is estimated to be valued at US$ 416.8 million in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Nasal vaccines are pharmaceutical preparations administered through the nasal route. They induce protective immunity at the site of administration, i.e. mucous membranes of the nose and upper respiratory tract. This provides direct protection against pathogens that enter through the nasal passage. Nasal vaccines are needle-free and offer advantages such as increased efficacy, enhanced immunological response, safety, ease of self-administration and improved patient compliance.
Market Dynamics:
Increased administration efficacy: Nasal vaccines activate both systemic and mucosal immunity at the site of entry of respiratory pathogens. This provides robust protection against diseases such as influenza. Moreover, nasal delivery elicits a rapid immune response within days compared to injectable vaccines.
Increased patient compliance: Needle-free nasal vaccines eliminate the pain and traumas associated with injections. This substantially improves patient acceptance and compliance for annual vaccination programs against diseases like influenza.
SWOT Analysis
Strength: Nasal vaccines have three main strengths - they induce mucosal immunity, are needle-free so more acceptable, and ease of self-administration. Nasal delivery induces protective immunity in the nasal mucosa which is the primary site of entry for respiratory pathogens. Being needle-free, nasal vaccines overcome the major fear associated with injections and leads to better patient compliance. Nasal vaccines can be self-administered which enables mass immunization campaigns.
Weakness: Nasal vaccines have two main weaknesses - greater susceptibility to environmental conditions and potential for reverse flow of vaccine. Nasal delivery of vaccines is more susceptible to environmental conditions like temperature and humidity. There are also chances of reverse flow of nasal vaccines from the nasal cavity to the lungs which can cause safety issues.
Opportunity: Nasal vaccines present two main opportunities - huge potential in addressing diseases affecting respiratory tract and pandemic preparedness. They are highly suitable for protecting against diseases that enter through the nasal mucosa like influenza, pneumonia etc. Given the ease of self-administration and inductions of robust mucosal immunity, nasal vaccines can play a major role in rapid response during pandemics.
Threats: Regulatory issues and competition from other delivery routes pose two threats. Despite advantages, stringent regulations for nasal delivery may delay approvals. Growing popularity of alternative routes like intradermal/microneedle patches can reduce the uptake of nasal vaccines.
Key Takeaways
The global nasal vaccines market is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing prevalence of respiratory infections. The market value is projected to reach US$ 416.8 million in 2023.
Regional analysis
North America is currently the largest as well as the fastest growing global nasal vaccines market. Presence of major players, rising research on new nasal vaccines, and growing disease burden are driving market growth. Asia Pacific is also emerging as an attractive market owing to large patient population, improving healthcare infrastructure and increasing government support for immunization programs in countries like India and China.
Key players
Key players operating in the nasal vaccines market are 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. Major players are focusing on new product approvals and developing affordable nasal vaccines for influenza, COVID-19 and other diseases affecting the respiratory tract.
Read More:
The global Nasal Vaccines Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Nasal Vaccines Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/nasal-vaccines-market/download-sampleMarket DynamicsThe rising prevalence of influenza infections among the global population and the emphasis on faster vaccination systems will be the primary stimulants for this market's growth.
The high potential of nasal delivery to facilitate cheap and massive immunization campaigns, especially for rapidly spreading infections like the coronavirus, will benefit market growth.
Increased acceptance of nasal vaccines in children and adults to treat flu, allergy, and long-lasting chronic diseases will further propel market growth.
The current development in nanotechnology, imaging, and administration devices has enabled this market to grow faster.
