The rising prevalence of dengue fever in Asia has increased the demand for effective medicines and vaccines to combat this viral disease. While some pharmaceutical companies are focusing on developing a dengue vaccine, the rate of dengue in the Asia-Pacific region is rapidly increasing. According to a Future Market Insights (FMI) report, The Dengue Vaccines Market will expand positively, with a total valuation of US$ 474.8 million expected in 2023. The demand for dengue vaccinations is likely to increase at a CAGR of 12.9% by volume (units).
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Geographic Overview
Latin America is expected to remain the second largest market for dengue vaccines, with a valuation of nearly US$ 290 million by the end of the forecast period. The report also predicts that more pharmaceutical companies will become involved in the expansion of the dengue vaccines market in the near future.
According to the report, government institutes will continue to be the largest end-users of dengue vaccines. Dengue vaccine sales across government institutes will generate nearly US$650 million in revenue by the end of 2027. Furthermore, hospitals will maintain their dominance, with double-digit CAGRs throughout the forecast period. Sales of the sole vaccine, Dengvaxia, manufactured by Sanofi, are currently driving market growth. Furthermore, the factors influencing the market growth profiled in the report are discussed below.
Key Highlights of Dengue Vaccines Market Report
- Other than the burdening occurrence of dengue in some countries, the economic turmoil in Latin America is estimated to influence growth of the global market at macroeconomic level.
- Live attenuated vaccines are also produced and developed economically, thereby consoling vaccines market and patients.
- Low availability of optimum diagnostic systems and lack of skilled professionals have led to cases, where dengue fever is being treated as undistinguished febrile disease.
- The global market of dengue vaccines is likely to secure an opportunistic revolution when companies are likely to able to successfully develop effective vaccines for all age groups.
Overall, the global dengue vaccines market, which is currently valued nearly US$ 250 million, will increase rapidly to reach over US$ 1,250 million in terms of revenues, by the end of 2027.
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According to FMI’s report, the following dengue vaccine manufacturers operate within the global market landscape:
- Sanofi Pasteur Limited
- Takeda Pharmaceutical Company Limited
- Merck & Co. Inc.
- GlaxoSmithKline Plc.
- GeneOne Life Science Inc.
- Medigen Vaccine Biologics Corporation
- Panacea Biotec Limited
- Sun Pharmaceutical Industries Ltd
- Serum Institute of India Pvt. Ltd.
- Biological E Ltd.
Key Segments Covered
Product
- CYD-TDV (Dengvaxia)
End-User
- Hospitals
- Government Institutes
- Non-governmental Organizations (NGOs)
Region
- North America (US and Canada)
- Latin America (Brazil, Mexico, Venezuela and Rest of LATAM)
- Western Europe (Germany, UK, France, Spain, Italy and Rest of Western Europe)
- Eastern Europe (Russia, Poland and Rest of Eastern Europe)
- APEJ (The Philippines, Indonesia, Malaysia, Thailand, Vietnam, India and Rest of APEJ)
- Japan
- Middle East & Africa (GCC, Northern Africa, South Africa and Rest of MEA)
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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