SEATTLE--(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.
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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