MR VACCINES MARKET ANALYSIS

Mr Vaccines MarketSize and Trends

The MR vaccines market is estimated to be valued at US$ 5 million in 2021 and is expected to exhibit a CAGR of 2.1% over the forecast period (2021-2028).

Figure 1. MR Vaccines Market Share (%), By Region, 2021

The increase in ongoing clinical trials is expected to drive growth of the MR vaccines market over the forecast period.

For instance, in November 2019, PT Bio Farma, an Indonesian state-owned enterprise, completed a Phase II / III clinical trial of Measles-Rubella (MR) vaccine. The study aimed to evaluate safety and immunogenicity of MR vaccine in Indonesian infants from 9 to 12 months of age.

Figure 2. MR Vaccines Market Share (%), By Distribution Channel, 2021

The increasing government initiatives to launch vaccine campaigns is expected to drive the market growth over the forecast period.

For instance, in January 2020, the Ministry of Health and Family Welfare (MOHFW) launched Measles and Rubella vaccination campaign with support from UNICEF and World Health Organization (WHO). An objective of this campaign was to reach all children with age group 6 months to children less than 10 years at the Rohingya refugee camps of stateless Indo-Aryan people.