Monovaccine are vaccines made from a single antigen obtained from one pathogen to stimulate active immunity against disease. Epstein-Barr virus, also known as human herpesvirus 4 (HHV-4), is a member of the herpes virus family that infects humans. It is one of the most common human viruses and is extremely contagious. Although many people infected with EBV are asymptomatic, it is the cause of infectious mononucleosis, commonly known as “mono” or the kissing disease. Monovaccine helps to eliminate the infection from the body by stimulating active immunity. It provides protection against EBV infection, which may further help against developing certain cancers like Hodgkin’s lymphoma and nasopharyngeal carcinoma.
The global Monovaccine (Epstein-Barr virus) Market is estimated to be valued at US$ 10.42 Bn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the market is the rising research and development activities focused on developing advanced therapeutics for infectious diseases. Various organizations are conducting clinical trials to evaluate the efficacy and safety of Epstein-Barr virus monovaccines. For instance, in July 2021, researchers from the University of Cambridge and GSK initiated a Phase 1 clinical trial to evaluate the safety and immunogenicity of two EBV vaccine candidates in healthy adults. Increasing burden of infectious diseases along with rising healthcare expenditure is expected to drive the demand for advanced prevention therapies. Moreover, improving regulatory guidelines and fast approvals of vaccines are projected to augment the market growth over the forecast period.
Threat of new entrants: The threat of new entrants in the monovaccine (Epstein-Barr virus) market is low as huge capital investment is required for R&D of vaccines and licensing from regulatory authorities.
Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of limited number of manufacturers of monovaccines in the global market.
Bargaining power of suppliers: Suppliers have low bargaining power due to availability of alternatives and substitutes for raw materials used in production of monovaccines.
Threat of new substitutes: The threat of substitutes is low as there are limited treatment options available for viral infections like mononucleosis caused by Epstein-Barr virus.
Competitive rivalry: The competitive rivalry is high among the established players to gain major market share through continuous innovations and product launches.
The global Monovaccine (Epstein-Barr Virus) Market is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing prevalence of infectious mononucleosis caused by Epstein–Barr virus.
Regional analysis: North America dominated the global monovaccine market in 2020, owing to presence of major vaccine manufacturers in the US and high healthcare expenditure. Asia Pacific is expected to be the fastest growing regional market for monovaccines during the forecast period driven by improving healthcare infrastructure and R&D activities in China and India.
Key players: Key players operating in the monovaccine (Epstein – Barr virus) market are Pfizer Inc., GlaxoSmithKline, Biomed Pvt. Ltd., Serum Institute of India, Baxter International, Sanofi S.A., Neuro Biotech, Merck, JN-International, CNGB. GlaxoSmithKline and Pfizer Inc capture the major share of monovaccine market owing to their strong brand presence and distribution network across the globe.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it