The global dengue vaccines market is set to experience a significant surge in demand, with the market valuation forecast to hit US$ 474.8 million in 2023. Driven by increasing awareness and urgent needs for dengue prevention, the market is expected to exhibit an impressive CAGR of 12.9% by sales in volume over the forecast period.
Key Market Drivers:
- Rising Dengue Incidence: Dengue fever, a major global health concern, affects millions annually, especially in tropical and subtropical regions. Increasing awareness and preventive healthcare efforts are bolstering demand for vaccines.
- Government Initiatives and Vaccination Programs: National immunization campaigns in high-burden countries are playing a pivotal role in promoting dengue vaccine adoption.
- Technological Advancements in Vaccine Development: Breakthroughs in vaccine technology, including the development of multi-valent vaccines to target multiple dengue virus serotypes, are expected to enhance efficacy and market penetration.
A Full Report Overview – https://www.futuremarketinsights.com/reports/dengue-vaccines-market
Trends and Insights:
- Expanded Accessibility: Collaborations between governments, health organizations, and pharmaceutical companies aim to make vaccines affordable and accessible in developing regions.
- Increased Focus on R&D: Research efforts to improve vaccine efficacy and address emerging strains are intensifying, driving innovation in the market.
- Demand in Endemic Regions: Countries in Asia-Pacific and Latin America are expected to remain the largest consumers, given the high prevalence of dengue in these areas.
Challenges:
- High Cost of Vaccines: The affordability of dengue vaccines remains a challenge, particularly in low-income countries.
- Public Hesitation: Misconceptions and vaccine hesitancy in certain regions pose barriers to widespread adoption.
Future Outlook:
The dengue vaccine market is on track for robust growth, with increasing global awareness, governmental support, and advancements in biotechnology paving the way for expanded use. As more affordable and efficient vaccines are developed, the market will see heightened adoption across diverse demographics and geographies.
Growth Drivers
- Increasing Incidence of Dengue: The rising number of dengue cases globally, exacerbated by climate change and urbanization, is driving demand for effective vaccination solutions.
- Advancements in Vaccine Development: Ongoing clinical trials and the development of new vaccine formulations are expected to enhance the availability and efficacy of dengue vaccines.
- Government Initiatives: Many governments are actively promoting vaccination programs to combat dengue outbreaks, contributing to increased market demand.
- Rising Awareness: Growing awareness about the severity of dengue fever and the benefits of vaccination among populations in endemic regions is further propelling market growth.
Regional Insights
- The Asia-Pacific region is expected to dominate the market due to the high prevalence of dengue fever and the presence of major pharmaceutical companies involved in vaccine development.
- Other regions, including North America and Latin America, are also anticipated to see growth as vaccination initiatives expand.
Competitive Landscape
Conducting clinical trials to develop multiple vaccine candidates remains the core expansion strategy of the aforementioned manufacturers. To enable this, market players are effectively leveraging strategic partnerships with major pharmaceutical corporations or research institutes, mergers & acquisitions, and capacity expansion initiatives.
- Sanofi Pasteur is the most prominent dengue vaccine manufacturer, currently offering the Dengvaxia®, a tetravalent dengue vaccine that is highly effective for preventing outbreaks resulting from all four dengue virus serotypes in preadolescents, adolescents, and adults, aged 9 to 45 years. The vaccine was approved after an extensive clinical development program spanning 40,000 people across 15 countries.
- In 2018, Merck & Co. collaborated with Instituto Butantan, Sao Paulo, Brazil, a non-profit producer of immunobiological products to develop vaccines to protect against the dengue virus. The partnership was aimed at developing live attenuated tetravalent vaccines (LATV). In addition, the institute also initiated its Phase 3 clinical trials for the TV003 vaccine candidate.
- In March 2021, Takeda Pharmaceutical Company Limited announced the approval of its TAK-003 dengue vaccine candidate by the European Medicines Agency (EMA), currently under investigation for preventing any outbreaks in individuals aged 4 to 60. The company also intends to apply for regulatory approvals in Argentina, Brazil, Columbia, Indonesia, Malaysia, Mexico, Singapore, Sri Lanka, and Thailand through 2021.
- Takeda reported in May 2023 that their dengue vaccine QDENGA® has gained various approvals, such as one in March 2023 from Brazil’s National Health Surveillance Agency for use in persons aged 4 to 60 years to protect against all four serotypes.
- According to reports in Buenos Aires in April 2023, Argentine health officials authorized the consumption of a Japanese dengue vaccine that must be provided in two dosages three months intervals.
Key Companies Profiled
- 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 (USA and Canada)
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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