Mumps Vaccine Market Research, 2031
The global mumps vaccine market size was valued at $2 billion in 2021, and is projected to reach $3.5 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031. Mumps vaccines are the vaccines that are administered to prevent viral infection known as mumps. Measles, mumps, and rubella vaccine (MMR) vaccine is the choice of vaccine injected as a preventive measure for mumps infection. This vaccine is administered via an injection and consists of live attenuated viruses of the three diseases. One dose of MMR vaccine is given to children aged less than 12 months and adults who are not at high risk of exposure and transmission. In addition, two doses are recommended for children aged between 2 and 18 years and adults who are at risk for exposure and transmission of mumps infection.
The mumps vaccine market size was analyzed qualitatively and quantitatively from 2018-2020. The mumps vaccine market grew at a CAGR of around 4-5% during 2018-2020. Most of the growth during this period was derived from the Asia-Pacific owing to the improving vaccination awareness, as well as well-established presence of domestic companies in the region.
Growth & innovations in the pharmaceutical industry for the manufacturing of vaccines owing to massive pool of health-conscious consumers, creates an opportunity for the growth of mumps vaccine market. The growth of the mumps vaccine market is expected to be driven by high potential in untapped, emerging markets, due to the availability of improving healthcare infrastructure, increase in unmet healthcare needs, rise in prevalence of infectious diseases such as mumps diseases, and surge in demand for mumps vaccines. Furthermore, the healthcare industry in emerging economies is developing at a significant rate, owing to rise in demand for enhanced healthcare services, significant investments by government to improve healthcare infrastructure, and development of the medical tourism industry in emerging countries, which drive mumps vaccine market growth.
Over the past two to three decades, considerable efforts have been made to develop and improve global health, particularly in underdeveloped and developing regions. A number of international organizations, such as the World Health Organization, has been at the forefront in terms of development of new vaccines and therapies to address a range of medical conditions among children. Several pediatric vaccines are available, owing to research and development activities, which, in turn, saves a huge number of lives on an annual basis. As countries continue to focus on improving the primary healthcare infrastructure, the demand for vaccines including the mumps vaccine is anticipated to witness major growth during the forecast period.
Furthermore, rise in consumer awareness related to preventive healthcare and ease of accessibility boost the rate of mumps vaccination among the population. Moreover, increase in promotional activities by manufacturers and increase in awareness about importance of vaccination among the general population are expected to fuel the market growth in the near future.
Though many positive factors have propelled the growth of the mumps vaccine market, but the presence of factors such as stringent rules and regulations associated with vaccines development and high cost and complex manufacturing process associated with development of vaccines are providing hindrance to the growth of the market. The high development cost and low manufacturing capacity limits access to various vaccines in many countries. In addition, biological products including vaccines are made from living organisms with complicated molecular makeup to be identified using physical or chemical methods. Also, the intrinsic variability of living things, possibility of material contamination by substances or the environment leads to the demand for specific quality assurance and control procedures, which acts as a restraint to the market.
The COVID-19 outbreak is anticipated to have a negative impact on growth of the global mumps vaccine market. According to the World Health Organization (WHO), immunization is one of the most successful public health interventions for the prevention of disease which has been reduced in past few years. The COVID-19 pandemic and associated conditions have led to reduction in vaccination rates around the globe, and 25 million children missed out on vaccination in 2021. In addition, the COVID- 19 has also imperiled the awareness drives regarding viral infections such as mumps, measles, and rubella, owing to diverted resources and attention of the healthcare sector towards COVID 19. Furthermore, the government funding and drives regarding vaccination were reduced due to increase in COVID- 19 funding, which further reduced the patients opting for mumps vaccination.
Though the pandemic negatively impacted the mumps vaccine industry during the pandemic, there have been initiatives taken by the government to improve global vaccination coverage after pandemic. Moreover, studies have been carried out related to use of mumps vaccine in COVID-19 prevention. It states that immunity produced by the mumps vaccine in children, reduces the severity of COVID-19 infection in them. More such studies describing the use of mumps vaccine in reducing the severity of other viral infection, is anticipated to drive the market in the coming years.
The mumps vaccine market is segmented into age group, distribution channel and region. By age group, the market is categorized into pediatric and adults. On the basis of distribution channel, the market is segregated into hospitals & clinics and vaccination centers. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (France, UK, Italy, Spain, Germany, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
By Age Group: based on age group, the market is segmented into pediatric and adult. The pediatric segment dominated mumps vaccine market share in 2021 and is expected to remain dominant throughout the forecast period, owing to increase in number of pediatric patients suffering from infectious diseases such as measles and mumps, and increase in the number of research activities related to pediatric vaccines.
By Distribution Channel: Mumps vaccine market is segregated into hospitals & clinics and vaccination centers. The hospitals & clinics segment dominated the mumps vaccine market in 2021 and is anticipated to continue this trend during the forecast period. The growth of hospitals & clinics segment is mainly attributed to availability of trained medical staff in hospitals and pediatric clinics helps to provide better services to patients, which acts as a key driving force of the global market growth.
By region: The mumps vaccine market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a mumps vaccine market share in 2021 and is expected to maintain its dominance during the forecast period.
In North America region, the U.S. dominated the market in case of revenue in 2021, and Mexico is expected to grow at the fastest CAGR during the forecast period, owing to the well-established healthcare facilities in Mexico.
In North America, in past few years there is an increase in the cases of mumps among the population. For instance, according to World Health Organization (WHO), there were about 3780 mumps cases reported in U.S. and 3522 cases in Mexico in the year 2020. This rise in prevalence of mumps cases in this region, increases the demand for mumps vaccine in this region, and contribute to the growth of the global market.
In addition, product launches and product approvals by the key market players in this region, is further driving the mumps vaccine market. For instance, in June 2022, GSK announced the USFDA approval of Priorix for the prevention of measles, mumps and rubella in individuals 12 months of age and older thereby expanding its business in U.S. and further strengthen offerings in pediatric vaccine portfolio. Such more product launches and approvals related to mumps vaccines in this region, increases the sales and thereby propel the growth of the mumps vaccine industry.
Asia-Pacific expected to grow at the highest rate during the mumps vaccine market forecast. Japan dominated the mumps vaccine market in terms of revenue in 2021, and China is anticipated to grow at the fastest rate with highest CAGR during the forecast period. The market growth in this region is attributable to presence of pharmaceutical companies in the region as well as growth in the purchasing power of populated countries, such as China and India. Furthermore, the Asia-Pacific region exhibits the largest medicine supply and the largest pharmaceuticals industry with availability of raw material in abundance, which can be easily accessed by manufacturers of vaccines. This, in turn, drives the growth of the market.
Competitive analysis and profiles of the major players in the mumps vaccine manufacturing, such as Actiza Pharmaceuticals, GlaxoSmithKline plc., Merck & Co., Inc., Serum Institute of India Pvt. Ltd. are provided in this report. During the period of 2019 to 2022, the major players have adopted product approval as key developmental strategy to improve the product portfolio of the mumps vaccine market.
Some examples of product approvals in the market
In June 2022, GlaxoSmithKline plc (GSK) announced the U.S. FDA approval of Priorix for the prevention of measles, mumps, and rubella in individuals 12 months of age and older, thereby expanding its offering in U.S. and also enhancing its product portfolio for vaccines.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the mumps vaccine market analysis from 2021 to 2031 to identify the prevailing mumps vaccine market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the mumps vaccine market segmentation assists to determine the prevailing Mumps vaccine market opportunity.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global mumps vaccine market trends, key players, market segments, application areas, and market growth strategies.
Mumps Vaccine Market Report Highlights
Market Size By 2031
USD 3.5 billion
CAGR of 5.8%
2021 - 2031
By Distribution Channel
By Age Group
Key Market Players
Actiza Pharmaceuticals, Merck & Co., Inc., GlaxoSmithKline plc, Serum Institute of India Pvt. Ltd.
The global mumps vaccine market is expected to exhibit high growth potential attributable to factors such as rise in R&D activities in pharmaceutical industry for manufacturing of the vaccines; increase in prevalence of mumps cases, and surge in number of advancements in the vaccine industry. Furthermore, the mumps vaccine market has gained interest of many pharmaceutical companies owing to surge in demand for mumps vaccine due to rise in the patient pool in the regions such as North America and Asia-Pacific. Moreover, increase in number of pediatric patients, who are highly prone to viral and bacterial infections due to poor immunity, notably contributes toward the growth of the market.
In addition, as mumps infection is a contagious viral infection and hence when kept unnoticed, may led to severe outbreaks in the region. Outbreaks are mainly witnessed in countries with limited access to essential health services and lack of awareness regarding the diseases, which affect more than thousands of people in that region. However, government and non-government organizations are mainly focusing on creating awareness about mumps condition and also providing funds and initiating drives for the vaccination against the infection, which is anticipated to drive the mumps vaccine market.
North America was the largest contributor to the market in terms of revenue in 2021, and Asia-Pacific is expected to witness the highest growth during the forecast period, owing to the presence of key players, rising government initiatives, developing healthcare infrastructure, and rising prevalence of health issues.