Dengue is a mosquito-borne disease that has severely affected most tropical and subtropical areas all across the world. The disease is mainly caused by four closely related deadly viruses (DEN 1, DEN 2, DEN 3, and DEN 4). Like other diseases, there is no established cure for dengue fever but can be treated if attended in time. Scientists are still unable to develop a vaccine for dengue as the virus is highly complicated to cure.
Some of the major symptoms of dengue virus include severe nausea, bone pain, headaches, rashes, bleeding and even death. The virus can last for up to 10 days in human body and leads to loss of life if not assisted medically. About 390 million people get infected by dengue each year in 120 countries, particularly in Southeast Asia, Latin America and Africa. Thus, in order to cure the dengue virus a proper vaccine would play a major part in control of the disease.
It has been noticed that after the introduction of first dengue vaccine in 2015, the global dengue vaccine market is expected to experience rapid growth throughout the forecast period till 2021. In 2015, the global dengue vaccine market was value at USD 70 million across the five major geographical regions viz. North America, South America, Europe, Africa and Asia-Pacific.
By 2020, the dengue vaccine market is expected to grow substantially in order to reach USD 399 million, expanding at a CAGR of 42% during 2015-2020; Brazil, Singapore, Thailand, India, and Mexico to post highest growth during the forecast period. Dengue is a deadly disease and growing rapidly over the globe, thus, the public health care burden of the affected countries is expected to force government in such countries for widespread immunization as a preventative measure.
Growing demand for dengue vaccine and shortage of manufacturer and distributers has forced the government of various countries to invest in the dengue vaccine formulation.
Geographically, the global dengue vaccine market is divided in following regions:-
Growth drivers and challenges
Owing to the factors such as, steep rise in number of deaths reported across the globe (100 million cases and 21,000 deaths worldwide) over the past year, absence of marketed vaccine, government initiatives to combat the spread, rise in medical insurances in developing countries, initiatives taken by the pharmaceutical companies to penetrate deeply into the market with governments, keen interest shown by the market players to uplift the market through partnership, licensing deals and acquisition is anticipated to escalate the dengue vaccine market over the forecast period.
However, serious medical conditions that goes un-noticed in some countries, lack of government facilities such as proper medical clinics and healthcare centers in under developed and many developing countries, high cost associated with the vaccine and others are few of the factors expected to restrain the growth of dengue vaccine market the forecast period i.e. 2015—2021.
Market size and forecast
In 2015, the global dengue vaccine sales stood at USD 70 million. The global dengue vaccine market is mainly dominated by South America with a revenue of USD 97.6 million and 25% of the market share followed by North America with revenue of USD 217 million and 54.9% revenue share in the same year. However, the sales growth in North America and Asia are likely to be show dependency on the arrival of less expensive, publically-supplied generic vaccines.Furthermore, the dengue vaccines market in Asia is expected to reach revenue of USD 75.5 million with a market share of 19.5% till 2020.CLICK TO DOWNLOAD FREE SAMPLE REPORT
The significant growth in the market is anticipated due to absence of a safe, efficacious dengue vaccine and greatest unmet need across the five major continents. The failure of controlling the virus has further stimulated the importance and demand for vaccines as an additional disease prevention tool. Recent investments by pharmaceutical companies in the formulation of dengue vaccines is expected to fulfill the up-surged demand from the marketplace which is likely to impel the growth of dengue vaccines market between 2016 and 2020.
Following are the leading players providing dengue vaccines all across the globe:-
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