The global mumps vaccine market was valued at USD 2.0 billion in 2022 and it is anticipated to grow further till USD 3,7 billion by 2032, at a CAGR of 6.4% during the forecast period.
The immunizations used to prevent the mumps virus infection are known as mumps vaccines. The MMR vaccine, which is administered intravenously, is the vaccine of choice to protect against mumps infection. The live attenuated viruses of the three illnesses are used in this injection-based vaccine. Children under the age of 12 months and adults who are not at a high risk of exposure and transmission receive one dose of the MMR vaccination. Children between the ages of 2 and 18 as well as adults who run the risk of contracting the mumps are advised to have two doses of the vaccine.
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Market Driver & Trends
Due to the large number of customers who are health-conscious, the pharmaceutical sector is growing and innovating to produce vaccines, which opens up opportunities for the mumps vaccine market to expand. The availability of increasing healthcare infrastructure, an increase in unmet healthcare demands, an increase in the occurrence of infectious diseases like the mumps diseases, and a surge in demand for mumps vaccines are all predicted to contribute to the growth of the mumps vaccine market.
Furthermore, the desire for better healthcare services, considerable government investments in enhancing the infrastructure for healthcare, and the growth of the medical tourism sector in emerging nations are all contributing to the significant growth of the global market for measles vaccines.
Market Restraints and Challenges
Even though the market for mumps vaccines has grown as a result of several favourable factors, the industry’s expansion is being hampered by factors like strict laws and regulations governing vaccine research, high production costs, and a difficult manufacturing procedure. Access to different vaccines is hampered in many countries by high development costs and inadequate production capacity. Additionally, biological goods like vaccines are created from living things whose complex molecular structures may be recognised through physical or chemical means. Additionally, the market is constrained by the inherent diversity of living organisms, the potential for material contamination by chemicals or the environment, and the necessity for specific quality assurance and control processes.
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Major Players in the Global Mumps Vaccines Market
The key players studied in the report are MedImmune, Johnson & Johnson, Merck & Co., Inc., Sanofi, Serum Institute of India, Bavarian Nordic, Astellas Pharma India, CSL Limited, Emergent BioSolutions, and GlaxoSmithKline among others.
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