Chikungunya Vaccine Market

Global Chikungunya Vaccine Market Size by Product Technology (Live-Attenuated Virus Vaccines, Inactivated Viral Vaccines, Chimeric-Alphavirus Candidates, Recombinant Viral Vaccines and Others), Age Group (Paediatric, Adult and Geriatric), End User, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13360
  • Published Date: Mar, 2023
  • Pages: 236
  • Category: Healthcare
  • Format: PDF
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The global chikungunya vaccine market is expected to grow from USD 264 million in 2022 to USD 624.98 million by 2032, at a CAGR of 9% from 2023-2032. The increasing vaccine research and development will augment the growth of the global chikungunya vaccine market.

Market Introduction:

Humans contract the chikungunya virus from mosquitoes. The mosquito bites an infected person and becomes a carrier of the virus. It transfers it to the other person through its bite. The disease's two primary symptoms are fever and joint pain. Other signs and symptoms include a rash, headache, muscle pain, or joint swelling. Expansions have recently been reported in countries in Africa, the Americas, Asia, Europe, the Caribbean, India, and Pacific Oceans. Infected travellers risk spreading the disease to untouched areas, such as the temperate belt. Currently, there is no vaccine to prevent chikungunya virus infection. Nonetheless, several steps may be taken personally to avoid these insects. For instance, it is effective to use insect repellent, wear long sleeves and pants, and maintain clean, dry, and hygienic surroundings to lower mosquito populations both indoors and outside. Tyres, buckets, planters, toys, pools, birdbaths, flowerpots, and garbage cans should all be cleaned, turned over, covered, or disposed of once weekly if they can hold water. Currently available treatments include relaxing, drinking enough fluids, and taking over-the-counter medicines. In multilateral health forums, the necessity to provide a vaccine to prevent diseases is getting traction, which will help the industry grow.

Chikungunya Vaccine Market Size

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Recent Development

February 2023 - The U.S. Food and Drug Administration (F.D.A.) has concluded a filing review of Valneva's single-shot chikungunya vaccine candidate VLA1553 and has found that the application is sufficiently complete to permit a substantive review. Valneva SE is a speciality vaccine company. The end of August 2023 has been designated as the Prescription Drug User Fee Act (P.D.U.F.A.) review goal date for VLA1553, the deadline by which the F.D.A. plans to act on the application. The F.D.A.'s acknowledgement of filing is not a guarantee that a licence will be granted, nor does it constitute a judgement about the suitability of the provided data.

Market Dynamics:

Drivers

The rising and unmet medical needs of the low-and-middle-income countries of Africa and Asia –Chikungunya is transmitted through mosquitoes, which transfer it from an infected person to an unaffected person when they bite the patient. The countries near the equator and tropics are breeding grounds for mosquitoes, given the ideal warm temperatures and abundant moisture conditions. The geographical location of the entire African continent makes its population highly vulnerable to diseases like malaria and chikungunya. The environmental conditions combined with the inadequate healthcare infrastructure in the region also contribute to significant deaths from these diseases. The lack of preventive measures to control the mosquito population, clean and sanitary public utilities, proper messaging and awareness about the diseases also contribute to the continuance of sporadic breakouts of chikungunya in these countries. The inadequate diagnostic, treatment and aftercare healthcare service infrastructure also increase the death burden from chikungunya. Similarly, several Asian-Pacific countries, given their geographical location and poor healthcare infrastructure, lead to frequent chikungunya outbreaks. The development of a vaccine to prevent these outbreaks and deaths is a priority for the federal governments of the region as well as multiple world organizations. Therefore, the unmet and rising demand for the chikungunya vaccine, given the regular outbreak of diseases in Asia and Africa will drive the global market's growth.

Restraints:

The absence of a commercially approved certified chikungunya vaccine – The research and development of the chikungunya vaccine are being conducted by several private and public players. However, all of these vaccines are in some stage of the developmental process. No chikungunya vaccine has shown effective results in humans. Furthermore, the absence of chikungunya and other vector-borne diseases in developed countries contributes to inadequate attention and low priority to its vaccine development. The present symptoms can be managed effectively with anti-viral drugs available on the market. The low prevalence, the rarity of the disease and isolated breakouts reduce the urgency of developing a vaccine. Furthermore, the disease is not easily transmissible, which shifts the focus towards more potent and dangerous viruses like coronaviruses. Therefore, the absence of a commercially approved and certified chikungunya vaccine will hamper the market's growth.

Opportunities:

The favourable government initiatives aimed at eradicating the disease As the countries develop and progress towards higher per capita income and G.D.P., the goal to improve human development index performance also become imperative. The importance of achieving sustainable development goals of good health and well-being for every citizen has garnered pace with the rising awareness in the population. The national, state and local governments, along with multilateral international forums and organizations, are working towards achieving good health and well-being for every citizen. The eradication of diseases like chikungunya is among the many health goals of the global community. The governments have established federal institutions to inquire about the state of these diseases, recommend preventive, corrective and curative steps, and regulate, monitor and control the stakeholders' interests. The Indian government's National Vector Borne Disease Control program is a case in point. Similarly, the Delhi government's state and local level initiative of reducing breeding grounds of mosquitoes with regular inspection of houses, public spaces and lakes/ponds etc., to prevent vector-borne diseases is a positive development for the market. Developing a vaccine for chikungunya is a priority agenda for every government and health institution. The favourable government initiatives in terms of increased push for research and development of the vaccine, offering more funding for research on the disease etc., will offer lucrative opportunities for the global chikungunya vaccine market.

Challenges:

The stringent regulatory approvals The research, development and application of any vaccine are subject to certain standards, certification and approval guidelines in the interest of public health and safety. Governments worldwide have national institutions like the F.D.A. in the U.S.A. to approve regular, monitor and control the administration of drugs, vaccines and other medications. This highly sensitive sector can potentially harm millions if not thoroughly scrutinized and checked by relevant authorities. Therefore, the stringent regulatory approvals will challenge the global chikungunya vaccine market's growth.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region emerged as the largest global chikungunya vaccine market, with a 36% market revenue share in 2022. The chikungunya outbreak is frequently reported in the Caribbean countries, given their proximity to the equatorial belt of zero-degree latitude. The warm temperature and regular rainfall accord ideal conditions for the mosquitoes to shelter and breed. The Caribbean and small countries do not have their vaccine development infrastructure. In contrast, the U.S. and Canada drive the vaccine development program for the region given the regular travel to and fro with the Caribbean, which puts their population and risk too. The presence of several big market players in the region with capital, infrastructure, technology and personnel to develop vaccines will propel the regional market's growth. The Asia Pacific market is also expected to show significant progress in the forecast period, given the prevalence of vector-borne diseases in the region. The favourable government initiatives aimed at reducing disease burden, especially vector-borne diseases, through preventive, corrective and curative steps are bound to drive the market's growth. Significant market players in the region will also contribute to the market's development. The increasing governmental push towards vaccine research and development contribute to the regional market's development.

North America region Chikungunya Vaccine Market Share in 2022 - 36%

 

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Product technology segment analysis

The product technology segment is divided into live-attenuated virus vaccines, inactivated viral vaccines, chimeric-alphavirus candidates, recombinant viral vaccines and others. The live-attenuated virus vaccines segment dominated the market with a market share of around 48% in 2022. In contrast to conventional inactivated immunizations, when the pathogen is "killed," the pathogen in live vaccines is still active. The pathogen has been modified or attenuated to still trigger a potent immune response without really causing the disease. A stronger, longer-lasting and more effective immune response is often seen following live immunizations or live attenuated virus vaccinations. Because these vaccinations closely match the virus, the immune system responds powerfully and effectively. Most live vaccinations only need one or two doses for lifetime protection against disease. Live-attenuated virus vaccines provide long-lasting, effective protection, which is why this market category is dominant.

Age group segment analysis

The age group segment is divided into paediatric, adult and geriatric. The paediatric segment dominated the market with a share of around 45% in 2022. Paediatrics is the branch of medicine that deals with caring for infants, kids, teenagers, and young adults. Vaccination campaigns are directed towards this population to protect young infants and newborns from potentially fatal illnesses. Also, it is practical and simpler to administer immunizations to this age group through primary schools in a planned and coordinated way. Also, the messaging is simpler, which aids in reaching every child.

End-user segment analysis

The end user is divided into hospital pharmacies, research laboratories, retail pharmacies and others. The research laboratories segment dominated the market with a market share of around 85% in 2022. A laboratory has carefully regulated circumstances for experiments, measurements, and scientific or technological research. The chikungunya vaccine is in the developmental stages in every market worldwide. The research is still being conducted, trials and experiments are at various stages, and no vaccine is approved for commercialization. Therefore, the research laboratories segment dominates the end-user category of the global chikungunya vaccine market.

Some of the Key Market Players:
  • AstraZeneca plc
  • Auro Vaccines L.L.C.
  • Bharat Biotech International Limited
  • Emergent BioSolutions Inc.
  • Moderna Inc.
  • Pfizer Inc.
  • Serum Institute of India Pvt. Ltd.
  • Takeda Pharmaceutical Company Limited
  • Themis Bioscience GmbH
  • Valneva SE

Report Description: 

Attribute Description
Market Size Revenue (USD Million)
Market size value in 2022 USD 264 Million
Market size value in 2032 USD 624.98 Million
CAGR (2023 to 2032) 9%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Regional Segments The regions examined for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa.
Segments The research segment is based on product technology, age group and end user.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global chikungunya vaccine market was valued at USD 264 million in 2022 to USD 624.98 million by 2032.

Global chikungunya vaccine market is growing at a CAGR of 9% during the forecast period 2023-2032.

The market's growth will be influenced by the rising and unmet medical needs of the low-and-middle income countries of Africa and Asia.

The absence of commercially approved certified chikungunya vaccine could hamper the market growth.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Product Technology
          4.3.2. Market Attractiveness Analysis by Age Group
          4.3.3. Market Attractiveness Analysis by End User
          4.3.4. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The rising and unmet medical needs of the low-and-middle income countries of Africa and Asia
    5.3. Restraints
          5.3.1. The absence of commercially approved certified chikungunya vaccine
    5.4. Opportunities
          5.4.1. The favourable government initiatives aimed at eradicating the disease
    5.5. Challenges
          5.5.1. The stringent regulatory approvals

6. Global Chikungunya Vaccine Market Analysis and Forecast, By Product Technology
    6.1. Segment Overview
    6.2. Live-Attenuated Virus Vaccines
    6.3. Inactivated Viral Vaccines
    6.4. Chimeric-Alphavirus Candidates
    6.5. Recombinant Viral Vaccines
    6.6. Others

7. Global Chikungunya Vaccine Market Analysis and Forecast, By Age Group
    7.1. Segment Overview
    7.2. Paediatric
    7.3. Adult
    7.4. Geriatric

8. Global Chikungunya Vaccine Market Analysis and Forecast, By End User
    8.1. Segment Overview
    8.2. Hospital Pharmacies
    8.3. Research Laboratories
    8.4. Retail Pharmacies
    8.5. Others

9. Global Chikungunya Vaccine Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Chikungunya Vaccine Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Chikungunya Vaccine Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. AstraZeneca plc
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Auro Vaccines LLC
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Bharat Biotech International Limited
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Emergent BioSolutions Inc.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Moderna Inc.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Pfizer Inc.
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Serum Institute of India Pvt. Ltd.
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Takeda Pharmaceutical Company Limited
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Themis Bioscience GmbH
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Valneva SE
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

2. Global Live-Attenuated Virus Vaccines Chikungunya Vaccine Market, By Region, 2019-2032 (USD Million) 

3. Global Inactivated Viral Vaccines Chikungunya Vaccine Market, By Region, 2019-2032 (USD Million) 

4. Global Chimeric-Alphavirus Candidates Chikungunya Vaccine Market, By Region, 2019-2032 (USD Million) 

5. Global Recombinant Viral Vaccines Chikungunya Vaccine Market, By Region, 2019-2032 (USD Million) 

6. Global Others Chikungunya Vaccine Market, By Region, 2019-2032 (USD Million) 

7. Global Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

8. Global Paediatric Chikungunya Vaccine Market, By Region, 2019-2032 (USD Million) 

9. Global Adult Chikungunya Vaccine Market, By Region, 2019-2032 (USD Million) 

10. Global Geriatric Chikungunya Vaccine Market, By Region, 2019-2032 (USD Million) 

11. Global Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

12. Global Hospital Pharmacies Chikungunya Vaccine Market, By Region, 2019-2032 (USD Million) 

13. Global Research Laboratories Chikungunya Vaccine Market, By Region, 2019-2032 (USD Million) 

14. Global Retail Pharmacies Chikungunya Vaccine Market, By Region, 2019-2032 (USD Million) 

15. Global Others Chikungunya Vaccine Market, By Region, 2019-2032 (USD Million) 

16. Global Chikungunya Vaccine Market, By Region, 2019-2032 (USD Million) 

17. North America Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

18. North America Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

19. North America Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

20. U.S. Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

21. U.S. Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

22. U.S. Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

23. Canada Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

24. Canada Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

25. Canada Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

26. Mexico Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

27. Mexico Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

28. Mexico Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

29. Europe Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

30. Europe Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

31. Europe Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

32. Germany Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

33. Germany Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

34. Germany Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

35. France Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

36. France Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

37. France Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

38. U.K. Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

39. U.K. Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

40. U.K. Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

41. Italy Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

42. Italy Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

43. Italy Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

44. Spain Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

45. Spain Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

46. Spain Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

47. Asia Pacific Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

48. Asia Pacific Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

49. Asia Pacific Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

50. Japan Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

51. Japan Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

52. Japan Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

53. China Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

54. China Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

55. China Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

56. India Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

57. India Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

58. India Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

59. South America Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

60. South America Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million)

61. South America Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million)

62. Brazil Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

63. Brazil Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

64. Brazil Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million)

65. Middle East and Africa Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

66. Middle East and Africa Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

67. Middle East and Africa Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million)

68. UAE Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

69. UAE Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

70. UAE Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million)

71. South Africa Chikungunya Vaccine Market, By Product Technology, 2019-2032 (USD Million) 

72. South Africa Chikungunya Vaccine Market, By Age Group, 2019-2032 (USD Million) 

73. South Africa Chikungunya Vaccine Market, By End User, 2019-2032 (USD Million) 

List of Figures 

1. Global Chikungunya Vaccine Market Segmentation

2. Chikungunya Vaccine Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Chikungunya Vaccine Market Attractiveness Analysis by Product Technology

9. Global Chikungunya Vaccine Market Attractiveness Analysis by Age Group

10. Global Chikungunya Vaccine Market Attractiveness Analysis by End User

11. Global Chikungunya Vaccine Market Attractiveness Analysis by Region

12. Global Chikungunya Vaccine Market: Dynamics

13. Global Chikungunya Vaccine Market Share by Product Technology (2022 & 2032)

14. Global Chikungunya Vaccine Market Share by Age Group (2022 & 2032)

15. Global Chikungunya Vaccine Market Share by End User (2022 & 2032)

16. Global Chikungunya Vaccine Market Share by Regions (2022 & 2032)

17. Global Chikungunya Vaccine Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global chikungunya vaccine market based on below mentioned segments:

Global Chikungunya Vaccine Market by Product Technology:

  • Live-Attenuated Virus Vaccines
  • Inactivated Viral Vaccines
  • Chimeric-Alphavirus Candidates
  • Recombinant Viral Vaccines
  • Others

Global Chikungunya Vaccine Market by Age Group:

  • Paediatric
  • Adult
  • Geriatric

Global Chikungunya Vaccine Market by End User:

  • Hospital Pharmacies
  • Research Laboratories
  • Retail Pharmacies
  • Others

Global Chikungunya Vaccine Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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