by Nasal vaccines, also known as intranasal vaccines, are vaccines that are administered through the nose rather than by being injected or taken orally. Traditional vaccines are administered through intramuscular or subcutaneous injections, however, nasal vaccines provide needle-free administration which many patients prefer. Nasal vaccines utilize the immune cells and antibodies found in the nose, throat, lungs, and gastrointestinal tract to combat infections before they can take root in the body. This induces a general immune response as well as a local immune response. Currently, nasal vaccines are being investigated for various diseases including influenza, COVID-19, polio, and pneumonia. Growing awareness about the benefits of needle-free vaccine administration such as ease of self-administration and induction of local mucosal immunity is expected to drive the demand for nasal vaccines.
The global Nasal Vaccines Market is estimated to be valued at US$ 416.8 Million in 2023 and is expected to exhibit a CAGR Of 5.7% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growth of the nasal vaccines market is propelled by growing awareness about the need for needle-free vaccine administration. Nasal vaccines provide a non-invasive alternative to traditional injectable vaccines and induce both general and local mucosal immunity. This reduces vaccine hesitancy among patients with needle phobia. Furthermore, the ability to self-administer nasal vaccines also makes vaccine delivery more accessible. Additionally, the induction of local mucosal immunity in the nasal cavity, lungs, and gastrointestinal tract through nasal vaccines makes them more effective in preventing infections that invade the body through these entry points. These advantages of nasal vaccines over traditional vaccines are contributing to their increasing demand. Local mucosal immunity induced by nasal vaccines can neutralize pathogens before they enter the body, providing faster immune protection against diseases like influenza and COVID-19. The growing research towards development of new nasal vaccines for various diseases is also fueling market growth.
Segment Analysis
The global Nasal Vaccines market is segmented on the basis of type and end user. Based on type, the nasal vaccines market is segmented into live attenuated vaccines and inactivated vaccines. The live attenuated vaccines segment dominated the market during the forecast period. Live attenuated vaccines contain live but weakened pathogen, which elicits strong immune response and long-lasting immunity. Based on end user, the market is segmented into pediatric and adult. The pediatric segment is expected to dominate the nasal vaccines market during the forecast period. High prevalence of pneumonia and respiratory infections among children is driving the demand for nasal vaccines in pediatrics.
PEST Analysis
Political: Governments across various countries are actively promoting immunization programs, which is expected to drive the demand for nasal vaccines. Some governments also provide subsidies for pediatric vaccines.
Economic: Rising per capita healthcare expenditure and focus on preventive healthcare is positively impacting the nasal vaccines market growth. However, high R&D costs and regulatory requirements increase the production costs.
Social: Increasing awareness about vaccine-preventable diseases and their prevention through immunization is a key factor boosting the adoption of nasal vaccines. Social programs by non-profit organizations also promote vaccination.
Technological: Continuous research is being carried out by manufacturers to develop more effective and stable nasal vaccine formulations. Advances in cold-chain logistics has enabled easier transportation and storage of nasal vaccines.
Key Takeaways
The Global Nasal Vaccines Market Demand is expected to witness high growth during the forecast period owing to the various advantages of nasal route of administration over injection. The live attenuated vaccines segment holds a dominant share in the market due to strong immune response. The global nasal vaccines market is estimated to be valued at US$ 416.8 million in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030.
Regional analysis :
North America holds the largest share in the global nasal vaccines market due to rising awareness levels about vaccination. Asia Pacific nasal vaccines market is expected to grow at fastest rate due to improving healthcare infrastructure and rising disposable incomes in the region.
Key players :
Key players operating in the Nasal Vaccines market are AstraZeneca, Abbott, Serum Institute of India, BioDiem, and Antares Pharma.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
