According to Renub Research’s latest report, “China Vaccine Market, Size, Forecast 2023-2027, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis” the China Vaccine Market is estimated to reach US$ 12.16 Billion by 2027 at a CAGR of 4.52 Percent. Annually, Approx. 700 Million vaccine doses are produced in China, and this made China one of the largest producers of vaccines worldwide. China is preparing to supply the world with low–cost vaccines that accomplish all productiveness, safety, and quality concerns. Vaccines are made available through the government’s EPI (Expanded Program on Immunization) at no charge for 14 years of age.
China’s vaccine market is divided into public and private vaccine markets. The Public Market is classified as Category 1, whereas Private vaccines are included in Category 2. These government-purchased vaccines are called Category 1 under the Regulations on the Administration of Vaccines and Vaccination. Vaccines are among the most effective and cost-effective tools to stop suffering and death, especially among children from infectious diseases.
In Aug 2022, World Health Organization ranked China’s vaccine regulatory system as a functional level of maturity. The third of the four levels in the WHO categorization, maturity level three (ML3), has been attained by China, according to the WHO. Maturity level four (ML4) is the highest. Additionally, as well as a cutting-edge domestic disease surveillance system run by the China CDC and constantly advancing that reaches every township in real-time, the vaccine innovation and manufacturing boom is even growing in this region. However, the Research and Development Capabilities, Stringent management, and intensive capital funds requirement create hindrances for the region.
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In China, the National Medical Products Administration, affiliated national institutions (NMPA), and provincial authorities demonstrates a completion that meets the global standard in assuring the safety, quality, and efficacy of vaccines being available from China. Furthermore, the government is the intense competition among domestic manufacturers, a surge of investment capital both from within the country and abroad, tremendous government support, the return of motivated and educated emigrants with experience in multinational pharmaceutical and biotechnology companies, and an eagerness to expand product sales to the international Market of SARS.
China Private Vaccine Captured more than 90% of the Market
The China Private vaccine market captured more than 90%. Private-sector (Category 2) vaccines, such as rabies vaccine, hemophilic influenza type b vaccine (Hib), and influenza vaccine (InfV),. Private-sector (Category 2) vaccines are non-obligatory and paid for by the person vaccinated or the parent. In 2022, China’s private vaccine sector will amount to more than 50 Billion Yuan in total by 2025.
China has further given conditional approval for the first general use of Sinopharm. Sinovac is a private company that researches, develops, and manufactures human and animal vaccines. In Brazil, Indonesia, and Turkey, Sinovac is presently undergoing phase three studies. In addition, Brazil was approved for the emergency use of Sinovac Biotech Ltd vaccines against COVID-19.
The China Public Market is classified as Category 1. Vaccines in the Public Market are regulated by the PRC government and generally given free of cost by the provincial CDC. In contrast, the private vaccine market is dominated by private vaccine companies. As a result, private vaccine prices are higher. China’s vaccine market has faced several scandals in the past couple of years which certainly hinder the vaccine market growth. The majority of China’s vaccinations have been exported to middle-income nations, leaving many of the world’s poorest nations exposed. China can produce 5 Billion COVID-19 vaccines annually and only needs half to vaccinate its 1.4 billion people.
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PCV13 holds the majority of the China Vaccine Market
The largest market share for vaccines in China is held by PCV13. There are three manufacturers with market authorization in China for PCV13. This is usually multi-dose series in a scheduled time that varies by the child’s age at the first dose. These days, only one 13-valent pneumococcal conjugate vaccine is used in China. Businesses are investing in R&D and pipeline goods to solve this problem, increases newborns’ access to the 13-valent vaccination, and lower the prevalence of sickness brought on by the common serotypes.
One of the Key Elements Predicted to Boost the Market is the Rising Incidence of Meningitis
Meningococcal meningitis, Pneumococcal, and DTP Vaccine market are expected to control a significant portion of China’s vaccine market. Meningococcal meningitis caused by Neisseria meningitides is a reportable infectious disease in China due to the high incidence of meningitis in the era before the availability of vaccines. Meningitis and encephalitis (M/E) may be prevented using a variety of vaccinations. In 2020, just four pharmaceutical firms in China produced DTP (diphtheria, tetanus, pertussis) vaccinations. More than 75% of the DTP vaccines made in the nation were produced by Sinopharm’s subsidiaries, which also include the Chengdu Institute of Biological Products and Wuhan Institute of Biological Products.
The market for China Vaccine Market is divided into Sinopharm Group, Hualan Biological Engineering Inc, Chongqing Zhifei Biological Products Co Ltd, Walvax Biotechnology Co Ltd, Beijing Tiantan Biological Products Corp Ltd, Sinovac Biotech, Shenzhen Kangtai Biological Products Co Ltd. January 2023, Chinese-made mRNA vaccine starts trial production
- Sector: The Report covers the China Vaccine Market by Sector in 2 viewpoints (Public and Private).
- Disease: The Report covers the China Vaccine Market by Disease in 6 viewpoints (Meningococcal Meningitis, Pneumococcal, DTP, Ebola, Rabies, AND Others)
- Product: The Report covers the China Vaccine Market by Disease in 7 viewpoints (MCV4, MCV2-Hib, MCV2, MPSV2 AND Men A, PCV13, and PPV23)
- Company: The Report covers the China Vaccine Market by Disease in 8 viewpoints Sinopharm Group, Hualan Biological Engineering Inc, Chongqing Zhifei Biological Products Co Ltd, Walvax Biotechnology Co Ltd, Beijing Tiantan Biological Products Corp Ltd, Sinovac Biotech, Shenzhen Kangtai Biological Products Co Ltd.
Browse Related Report:
Messenger RNA (mRNA) Vaccines & Therapeutics Market: https://tinyurl.com/3cdskemx
Global Vaccine Market: https://tinyurl.com/y4un2un7
Adult Vaccine Market: https://tinyurl.com/4nfzf9yx
Pediatric Vaccines Market: https://tinyurl.com/yeykub86
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