Current MR vaccines are packaged in five or ten-dose vials and must be stored between two and eight degrees Celsius. In addition, these vaccines must be administered using a needle and syringe by trained healthcare workers. This presents numerous logistical challenges. These vaccines are not likely to be ready for use before 2033. Additionally, these vaccines are difficult to transport, which can lead to a considerable amount of medical waste.
The MR vaccines market is estimated to be valued at US$ 5 million in 2021 and is expected to exhibit a CAGR of 2.1% over the forecast period (2022-2028).
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The development of thermostable MR vaccines is expected to expand the reach of vaccination. This new technology will make it possible to reach remote areas, such as in humanitarian crisis situations. Furthermore, the new vaccines will enable the provision of integrated healthcare services. In the coming years, it is expected that global MR vaccines will reach an estimated 1.7 billion people worldwide. Several challenges remain to be overcome. Here are some of them:
Phase II trials must address safety, reactogenicity, and immunogenicity in the target population. In addition, there must be a minimum sample size of 150 per MAP format. In order to reach this level of proof of concept, a phase III study will have to begin as early as 2025, and MR-MAPs will achieve WHO prequalification by 2029. In a few years, the MR-MAPs will be available for patients in the developing world.
The COVID-19 pandemic and lockdown in various countries across the globe have negatively impacted the financial status of businesses across all sectors. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. While the COVID-19 measures such as social distancing, masks, and hand hygiene also minimized the spread of the measles virus.
For instance, according to the data published by World Health Organization (WHO), in November 2021, more than 22 million infants missed their first dose of measles vaccine throughout 2020 and more than 3 million in 2019. This resulted in a hike in measles incidence. In addition, 24 measles vaccination campaigns planned for 2020 in 23 countries, were postponed due to COVID-19 pandemic which left more than 93 million people at risk for the disease. Such campaigns are required for people who have missed out on measles-rubella vaccines. The COVID-19 pandemic made significant disruptions to immunization services and changes in health-seeking nature in many parts across the globe.
MR Vaccines Market Restraint
The adverse reactions associated with measles and rubella (MR) vaccines are expected to hinder the growth of the MR vaccines market over the forecast period.
For instance, according to a report published by the U.S. National Library of Medicine in January 2021, adverse reactions related to Measles and Rubella vaccination are fever, followed by vomiting, abdominal pain, and dizziness. After 4-5 days of MR vaccine administration, few children may have abnormal body movements. In few cases, altered sensorium was detected on the same day as vaccine delivery.
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Major players operating in the MR vaccines market include PT Bio Farma, Bio-Manguinhos, BE Vaccines, Serum Institute of India, and Crucell Switzerland AG.
Reasons to buy this MR Vaccines Market Report
◘ Save time carrying out entry-level research by identifying the size, growth, and leading players in the emerging MR Vaccines Market
◘ Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the emerging MR Vaccines Market
◘ Leading company profiles reveal details of key MR Vaccines Market players emerging five operations and financial performance
◘ Add weight to presentations and pitches by understanding the future growth prospects of the emerging MR Vaccines Market with five year historical forecasts
◘ Compares data from North America, South America, Asia Pacific Europe and Middle East Africa, alongside individual chapters on each region
The next part also sheds light on the gap between supply and consumption. Apart from the mentioned information, growth rate of MR Vaccines Market in 2028 is also explained. Additionally, type wise and application wise consumption tables and figures of MR Vaccines Market are also given.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 MR Vaccines Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: MR Vaccines Industry Impact
Chapter 2 Global MR Vaccines Competition by Types, Applications, and Top Regions and Countries
2.1 Global MR Vaccines (Volume and Value) by Type
2.3 Global MR Vaccines (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global MR Vaccines Sales, Consumption, Export, Import by Regions
Chapter 5 North America MR Vaccines Market Analysis
Chapter 6 East Asia MR Vaccines Market Analysis
Chapter 7 Europe MR Vaccines Market Analysis
Chapter 8 South Asia MR Vaccines Market Analysis
Chapter 9 Southeast Asia MR Vaccines Market Analysis
Chapter 10 Middle East MR Vaccines Market Analysis
Chapter 11 Africa MR Vaccines Market Analysis
Chapter 12 Oceania MR Vaccines Market Analysis
Chapter 13 South America MR Vaccines Market Analysis
Chapter 14 Company Profiles and Key Figures in MR Vaccines Business
Chapter 15 Global MR Vaccines Market Forecast (2022-2028)
Chapter 16 Conclusions
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