DUBLIN--(BUSINESS WIRE)--The "China Vaccine Market, Size, Forecast 2023-2027, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
This report provides a complete analysis of China Vaccine Market, the market will surpass US$ 12.16 Billion by 2027 at a CAGR of 11.97 Percent according to the publisher.
Companies Covered
- Sinopharm Group (China National Biotec Group Company Limited)
- 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
Annually in China, approx. 700 million vaccine doses are produced; China is one of the world's largest producers of vaccines. As a result, China has drawn significant attention to the vaccine industry to play a representative role. In addition, it is a closed market with a solid local vaccine industry, access to which is challenging for Western players.
Category 1 & 2 Vaccines in China
In China, Vaccines are available through the government's Expanded Program on Immunization (EPI) at no charge for aged 14 years of children. These government-purchased vaccines are called Category 1 under the Regulations on the Administration of Vaccines and Vaccination.
In contrast, private-sector also known as Category 2 vaccines, such as rabies vaccine, influenza vaccine (InfV), and Haemophilus influenza type b vaccine (Hib), are available but are usually paid for out-of-pocket, as they are included in neither the EPI system nor government health insurance. According to our research findings, the China Vaccine market was US$ 6.91 Billion in 2022.
Disease Type: Pneumococcal, Meningococcal Meningitis, and DTP Vaccines Controls Significant Portion of China Vaccines Industry
Meningococcal Meningitis, Pneumococcal, and DTP Vaccine market are expected to control a significant portion of China's vaccine market. The vaccine market in China is segmented into Meningococcal meningitis, Pneumococcal, DTP, Ebola, Rabies & Others.
In Aug 2021, China formally revised its laws to allow parents to have up to three children to boost the birth rate. In part, thanks to the loosening of the second-child policy in China, the number is expected to increase. China's vaccine industry has always been more petite and less mature than it's US, European, or Indian counterparts.
However, over the past decades, it has rapidly grown to become one of the only developing countries able to manufacture and supply most vaccines used in its domestic immunization program.
Product Insight: PCV13 has Highest Share in the Chinese Vaccine Industry
In terms of products, the Products included in this report are as follows: MCV4, MPSV4, MCV2-Hib, MCV2, MPSV2 and Men A, PCV13, and PPV23. PCV13 holds the maximum share of the China vaccine market. Therefore, it is predicted that PCV13 will also maintain its top place during the forecasting period.
In addition, China is the most prominent vaccine consumer in the world. As a result, Chinese residents have become much more aware of preventive health care due to its impact, which has also driven the vaccination rate.
Key Company Insights
The major players covered in the report are Sinopharm Group, Hualan Biological Engineering Inc, Chongqing Zhifei Biological Products Co Ltd, Walvax Biotechnology Co Ltd, Beijing Tiantan Biological Products Corp Ltd, Sinovac Biotech, and Shenzhen Kangtai Biological Products Co Ltd.
In addition, the R&D, clinical, and commercialization experience accumulated by the COVID-19 vaccine would help a group of outstanding domestic Chinese vaccine company's snowball. Against this backdrop, the Chinese vaccine industry is expected to usher in a golden period. The next decade will be for China's biopharmaceuticals to move from catching up to surpassing a 'golden decade' for the Chinese vaccine industry.
May 2022, Walvax Biotechnology Co., Ltd. announced the results for the immunogenicity and safety profile of PCV13, the 13-valent Pneumococcal Polysaccharide Conjugate Vaccine, administered as an infant series at 3, 4, and 5 months of age and a booster dose at 12-15 months of age in Chinese infants as part of the randomized, multi-center, double-blind, and positive-controlled phase 3 clinical trial in China to demonstrate the non-inferior immune responses and safety of PCV13 as compared to Pneumococcal 7-valent Conjugate Vaccine [Diphtheria CRM197 Protein] ('PCV7').
For more information about this report visit https://www.researchandmarkets.com/r/4r9nyp-vaccine?w=4
