Surge in Dengue Fever in Low Income Nations Creating Opportunities for Expansion of Dengue Vaccines Market Demand: FMI
Growing demand for low cost vaccine for dengue along with consistently rising focus on innovation and clinical trials drives sales in the market.
The global dengue vaccines market is anticipated to cross the valuation of US$ 1 Bn by the end of 2031, as per a study by Future Market Insights (FMI). Rising focus on launching novel and more effective treatment for dengue will underpin growth in the market.
As per the World Health Organization (WHO), a steep rise in incidence of dengue is observed over the past decade. The actual numbers of global cases are under reported, however, one model estimated 390 million dengue virus infections per year, states the report.
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Alarming increase of dengue cases registered worldwide will keep the demand for dengue vaccines high through the forecast period. Government initiatives undertaken to curb the incidence will provide tailwinds to growth registered.
Increase in cases of dengue and malaria in South Asian countries with low per capita income and limited spending on healthcare is observed over the past years.
Growing government assistance towards development of dengue medication and rising international pressure towards eradication of the infection will boost the market sales, finds ESOMAR-certified consulting firm Future Market Insights in this study.
For instance, India-based Serum Institute started a clinical trial in 2017 for validating the efficiency of its new dengue vaccine “VIS513 monoclonal antibody” aimed to treat dengue infections throughout the Indian subcontinent.
The company owns the exclusive licensing to the treatment and commercialization of drugs across the globe. The firm also invested around US$ 5 Mn, yielding US$ 34 million in gross profit upon completion of trial.
With surge in demand for dengue vaccines and growing government investment, promising growth is on the cards for the market.
“Countries in Asia are facing the increased burden of dengue infection due to lack of proper healthcare system and poor hygiene habits. Leading market players are investing in developing low cost vaccines to cater the huge demand in the Asia Pacific market,” remarks the FMI analyst.
Increasing government and private funding on research and development of dengue vaccines and frequent outbreaks in union territories will provide lucrative growth opportunities in the U.S.
Dengue infection rate is expected to increase by more than 40% in next 50 years in Mexico, providing ideal conditions for the market growth in the country.
India is expected to be a lucrative market for the forecast period of 2021-2031. Growing awareness campaign related to hygiene and sanitization along with increasing government funding towards development of dengue vaccines are main market drivers in India.
Rapid expansion of cities, along with fluctuating climate conditions and extended wet periods led to rise in dengue infection rates. The surge in dengue infection has fueled the dengue vaccines market demand in Brazil.
Dengvaxia is the only FDA approved vaccine in the world with 76% efficacy in dengue prevention. New market players are trying to explore this high revenue opportunity.
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Rising prevalence of dengue in poor countries is accelerating the dengue vaccines market growth.
Poor habitable conditions and lack of proper sanitation in emerging economies are expected to fuel the market growth.
Rising government initiatives towards eradicating dengue on global level will intensify the market demand.
Limited clinical statistics regarding the efficacy of dengue vaccines hamper the market growth.
High cost of dengue vaccines are making them unaffordable in poor countries limiting the market growth.
Fluctuation in government approval policies during manufacturing and distribution will negatively affects the market sales.
The main area of focus among all market players is performing merger, acquisition, and strategic collaboration with leading pharmaceutical companies to expand their foothold.
They are also conducting rigorous clinical trials to develop multiple vaccines and drugs in prescription market.
Sanofi Pasteur has developed a tetravalent dengue vaccine called “Dengvaxia®” and is reported to be 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 trials conducted in 15 countries.
Merck & Co. allied with Instituto Butantan, Sao Paulo, Brazil, in 2018. The collaboration aimed towards developing vaccines to protect against dengue virus. They are developing live attenuated tetravalent vaccines (LATV).
Takeda Pharmaceutical Company Limited launched its European Medicines Agency (EMA) approved, TAK-003 dengue vaccine in March 2021.
Leading players profiled by FMI operating in dengue vaccines market include
Sanofi Pasteur Limited
Takeda Pharmaceutical Company Limited
Merck & Co. Inc.
GeneOne Life Science Inc.
Medigen Vaccine Biologics Corporation
Panacea Biotec Limited
Sun Pharmaceutical Industries Ltd
Serum Institute of India Pvt. Ltd.
Biological E Ltd.
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More Insights on FMI’s Dengue Vaccines Market
The latest market study on global dengue vaccines market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
Non-governmental Organizations (NGOs)
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)
Middle East & Africa (GCC, Northern Africa, South Africa and Rest of MEA)
Name: Abhishek Budholiya
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Organization: Future Market Insights
Release ID: 89023932