Typhoid Fever Vaccines Market to Surpass US$ 554.4 Million by 2026 – Coherent Market Insights
March 15 2019 - 8:35AM
Business Wire
According to Coherent Market Insights, the Typhoid fever
vaccines market was valued at US$ 225.0 million in 2018, and is
projected to exhibit a CAGR of 11.9% over the forecast period
(2018–2026).
Key Trends and Analysis of the Typhoid Fever Vaccines
Market:
Organizations such as World Health Organization (WHO), Gavi,
Bill & Melinda Gates Foundation, and others are highly active
in spreading awareness regarding diseases such as typhoid and
driving immunization efforts against such diseases. Such
initiatives by various organizations are expected to support and
fuel global typhoid vaccines market growth over the forecast
period.
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For instance, in October 2017, WHO recommended introduction of
typhoid vaccine for children over six months in endemic countries.
It also recommended catch-up vaccination whenever possible,
prioritizing children, and adolescents up to 15 years of age.
For instance, in April 2018, Gavi designated US$ 85 million to
fund introduction of Typbar TCV (Bharat Biotech) vaccine in
low-income countries across Africa and Asia region. Moreover, there
are several typhoid conjugate vaccines present in the pipeline,
which are expected to enter the market over the forecast period.
Such initiatives taken by these organizations are expected to
drastically rise adoption of typhoid vaccine and drive global
typhoid fever vaccine market growth over the forecast period.
Furthermore, introduction of clinically more effective typhoid
vaccines in private markets (such as India) as well as
internationally has supported growth of the market. For instance,
Vivotif (oral vaccine), clinically more effective Typhim Vi (WHO
prequalified in 2011), and now Typbar TCV (first conjugate vaccine
WHO prequalified in 2017) are now available in the same market
including India and South Africa.
To know the latest trends and insights prevalent in this
market, click the link below:
https://www.coherentmarketinsights.com/market-insight/typhoid-fever-vaccines-market-2552
Key Market Takeaways:
- The market is expected to exhibit a
CAGR of 11.9% during the forecast period (2018–2026). This growth
is attributed to rising initiatives by various organizations to
increase access of typhoid vaccines in endemic regions and launch
of novel products in region
- Asia Pacific Typhoid fever vaccines
market is expected to account for the largest market share during
the forecast period, owing to high incidence of typhoid fever and
presence of established vaccine manufacturers.
- Typhoid fever vaccines market in North
America is expected to show stagnant growth, as the prevalence of
typhoid fever is much less in U.S. and the typhoid vaccines are not
recommended for routine vaccinations in both U.S. and Canada.
- Typhoid fever vaccines market in Europe
is expected to show a medium growth over the forecast period, owing
to low prevalence of typhoid in region. For instance, according to
the data published by European Centre for Disease Prevention and
Control, in 2014, around 934 confirmed typhoid/paratyphoid fever
cases were reported in 27 EU/EEA countries, resulting in an EU/EEA
notification rate of 0.31 cases per 100,000 population.
- Various key players are involved in
strategic collaborations and research and development activities
for development and marketing of novel typhoid vaccine. For
instance, in 2018, Prokarium Limited, a UK-based vaccine developer
secured US$ 10 million in funding from various Saudi, Swedish, and
Korean investors for development of new groundbreaking vaccines
against enteric fever including typhoid.
- Key players in the market are involved
in strategic partnership for distribution of its products. For
instance, in 2015, PaxVax, Inc., entered in various commercial
partnerships and distribution agreements for increasing
availability of Vivotif in European region. For instance, Valneva
SE and PaxVax, Inc. entered into a marketing and distribution
agreement in 2015 for their respective travel vaccines, DUKORAL and
Vivotif
- Some of the major players operating in
the global typhoid fever vaccines market include, GlaxoSmithKline
Plc., Sanofi SA, Bharat Biotech, Bio-Med Pvt. Ltd., PT Bio Farma,
PaxVax, Inc., Shanghai Institute of Biological Products Co., Ltd.,
and Prokarium
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