China Vaccine Market shall expand at a CAGR of nearly 11.97%, from 2022 to 2027 according to Renub Research. Catalysed by government support for the Healthcare Sector, and advancements in Vaccine Research & Development
Renub Research has recently released a report named "China Vaccine Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2027," providing a detailed industry analysis that includes market share insights. In addition, the report covers research on competitors and regions and current advancements in the China Vaccine Market. The China Vaccine Market shall reach US$ 12.16 Billion by 2027. With a population estimated at 1.4257 Billion as per the United Nations Population Fund's (UNFPA's) "State of World Population Report, 2023", China's high demand for vaccines to prevent and control infectious diseases is further magnified, a trend that has intensified with the outbreak of COVID-19, not just within China but globally.
The vaccine industry in China has seen significant government investment, providing incentives to encourage domestic companies to develop and produce vaccines. As a result, Chinese vaccine manufacturers have made notable strides in the research and development of new vaccines, with some even earning international recognition for their efficacy and innovative practices.
Category 1 & 2 Vaccines in China
In China, Category 1 vaccines, crucial for public health and part of the national immunization program, are provided to citizens at no cost as the government subsidizes them. Some examples of these vaccines in China are measles, polio, and hepatitis B. In addition, the Chinese government has made significant investments in the vaccine industry, offering incentives and funding to support the development and production of vaccines, boosting the supply and availability of vaccines, including Category 1 vaccines subsidized by the government.
Category 2 vaccines in China, such as vaccines for pneumococcal disease, influenza, and rabies, are not government-subsidized or part of the national immunization program. These vaccines are available for purchase by individuals or healthcare providers. The surge of the middle class in China has led to more spending on healthcare, including Category 2 vaccines. At the same time, the aging population has also contributed to their growth as older adults seek preventive measures against certain diseases.
Meningococcal meningitis and DTP Vaccine are significant in the China Vaccine Market
Outbreaks of meningococcal meningitis in China have created a high demand for vaccines against the disease, resulting in their dominance in the China vaccine market. The government has encouraged vaccine development, and domestic companies have made significant progress. Factors such as growing awareness of the importance of vaccination and increasing disposable income have also contributed to this dominance.
The DTP vaccine, protecting against diphtheria, tetanus, and pertussis, has a significant share in the China vaccine market due to its inclusion in the national immunization program, government investment, increased availability and affordability, pertussis outbreaks, and proven safety and efficacy, building trust among the population.
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PCV 13 has hegemony in the China Vaccine Market
PCV 13 is dominant in the China vaccine market due to its inclusion in the national immunization program as a Category 1 vaccine and the government's significant investment in the vaccine industry. Pneumococcal disease is prevalent among young children in China, and PCV 13 has high efficacy in preventing it. Its proven safety and effectiveness have also contributed to building trust among the Chinese population.
Competitive Landscape
The report includes coverage of several key players in the China vaccine market, including 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.
The increasing importance of vaccination among the Chinese population has led to heightened competition in the China vaccine market. More companies are entering the market due to the growing demand. The Chinese government's encouragement of vaccine development has attracted more investment and increased competition among manufacturers. The diversity of vaccines targeting different diseases and illnesses has created a competitive environment for manufacturers to capture a larger market share. Pricing, safety, and efficacy are crucial factors influencing market competition among vaccine manufacturers.
Market Summary
Sector – By Sector, the China Vaccine Market is broken up into 2 viewpoints
- Public
- Private
Disease Type - The China Vaccine Market breakup in 6 viewpoints
- Meningococcal Meningitis
- Pneumococcal
- DTP
- Ebola
- Rabies
- Others
Products - Renub Research report covers the China Vaccine Market by products in 840 viewpoints
- MCV4
- MPSV4
- MCV2-Hib
- MCV2
- MPSV2
- Men A
- PCV13
- PPV23
- Others
Key Players- All the major players of the China Vaccine Market have been covered from 3 Viewpoints (Overview, Strategy, and Financial Insight)
- 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.
Related Report :
Global Pediatric Vaccines Market is expected to reach USD 62 Billion in 2027.
Global Influenza Vaccine Market & Forecast (30 Countries Market & Vaccinated Population Data) By (Pediatrics & Adult) & Vaccine Brands Analysis is the 8th report by Renub Research on Influenza Vaccine Market.
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