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IN THE NEWSAugust 2021- GlaxoSmithKline announced that it has submitted a license application to the U.S Food and Drug Administration for PRIORIX, which is targeted for immunization against measles, mumps and rubella (MMR).
July 2019- Measles outbreak in the United States helped in boosting the sales of Merck’s vaccine by 58 percent in the second quarter of the year.
The global rubella treatment market is estimated to garner a sizeable revenue and grow at a robust CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be largely attributed to the growing number of cases of rubella that results from high transmission ability of togavirus via air. Along with this, launch of several government initiatives associated with research and development of sophisticated diagnostic techniques, especially in emerging economies such as China and India, is expected to offer abundant opportunities for market growth in the near future. Furthermore, high risk of major complications in rubella infected pregnant women, and escalating government initiatives to include rubella vaccinations in national health programs, targeted mainly towards children and young adults, are also significant factors projected to augment the growth of the market in the upcoming years. According to the World Health Organization, 168 out of 194 countries introduced rubella vaccines in their health programs and the global coverage was about 69 percent as of December 2018. 14,621 cases of the disease were reported in 151 countries that same year.
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The market is segmented by drug type into analgesic, nonsteroidal anti-inflammatory drugs, and others, out of which, the analgesic segment is anticipated to hold the largest share in the global rubella treatment market. This can be accounted to the high demand for analgesics across the globe owing to their ability to effectively reduce fever and relieve several kinds of mild to moderate pain. Additionally, on the basis of route of administration, the segment for oral route is predicted to grab the most significant share during the forecast period, which can be credited to its advantages, including patient compliance, non-invasiveness, and convenience of drug administration. Apart from these, most of the medicines for managing the symptoms of rubella are administered via oral route, which is also assessed to boost the segment’s growth in the future.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
On the basis of geographical analysis, the global rubella treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in North America is estimated to predicted to acquire the largest share over the forecast period on the back of the growing levels of awareness about rubella, high healthcare spending, and rising number of drug manufacturing facilities in the region. The Centers for Medicare and Medicaid Services stated that in 2019, the healthcare expenditure in the United States reached a value of USD 11,582 per person in 2019. It accounted for 17.7 percent of the nation’s GDP that same year.
In addition, Europe is anticipated to be the second largest shareholder in the market during the forecast period owing to stringent regulatory framework and government guidelines regarding the health of mother and child. Moreover, the market in Asia Pacific is expected to witness noteworthy growth by the end of 2030, which can be credited to the increasing government initiatives to develop novel vaccines and therapies, and relatively low cost of drug production in the region.
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The global rubella treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global rubella treatment market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are growing incidences of rubella worldwide, and government initiatives about research and development of sophisticated diagnostic techniques.
The market is anticipated to attain a robust CAGR over the forecast period, i.e., 2022 – 2030.
Side effects associated with rubella vaccination are estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the high levels of awareness about rubella, and rising number of drug manufacturing facilities in the region.
The major players in the market are Novartis AG, Pfizer Inc., Johnson & Johnson Services, Inc., GlaxoSmithKline PLC, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by drug type, route of administration, end user, and by region.
The oral segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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