The global dengue vaccine market is thriving on the back of growing concern for dengue diseases as well as the clinical advancements observed in the development of vaccines for dengue. A clinical process of any pharmaceutical product undergoes various phases. With the advancement in each phase, the effectiveness of the drug is also increased, which contributes to the greater adoption of the drug around the world. Moreover, advancements observed in the development of dengue vaccine for several age groups is also anticipated to raise the demand for greater adoption of the drug by nations worldwide, and in turn influence the growth of the global dengue vaccine market. The global dengue vaccine market is anticipated to cross a value of around USD 1100.0 million by the end of 2027 with a CAGR of around 22% during the forecast period 2019-2027.
Growth Highlights based on Region during 2018-2027
The global dengue vaccine market is segmented by regions into North America, Latin America, Europe, Asia Pacific and Middle East and Africa. Among these regions, the market of Asia Pacific dengue vaccine is driven majorly by China and India, where China is anticipated to hold the largest market share of around 30% share in the year 2027. Several outbreaks of dengue fever observed in the region over the years on the back of the region having a tropical environment, has raised the necessity of the government to increasingly focus on acquiring dengue vaccines in large quantity to address the massive population, which is majorly dominated by the two nations around the globe.
Further, Brazil, Mexico and Rest of Latin America are the prominent countries that are driving the growth of the Latin America dengue vaccine market. The Latin America region also has a tropical environment which is a favorable environment for the growth of the dengue disease. CLICK TO DOWNLOAD SAMPLE REPORT
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Market Segmentation Synopsis
By Age Group
The global dengue vaccine market has been segmented on the basis of age group into <6 years, 6-12 years and >12 years. >12 years segment is anticipated to hold the largest market share of around 54% in the year 2027 in the global dengue vaccine market. Additionally, >12 years segment is anticipated to cross nearly USD 680 million by the end of 2027 by growing at a significant CAGR over the forecast period. Further, the <6 years segment is estimated to grow with the highest CAGR of around 22% over the forecast period.
Market Drivers and Challenges
According to the estimations of the World Health Organization (WHO), around 100-400 million dengue infections occur each year and that half of the world’s population is now at risk. Further, it also stated that over the last two decades, the number of dengue cases reported to the organization has increased over fifteen-fold, reaching up to 3,312,040 numbers in the year 2015.
The alarming increase in the number of dengue cases around the world is a major concern for individuals as well as the government of the nations. Moreover, due to the unavailability of the vaccine for the disease during its outbreak, several numbers of cases have been self-managed resulting in the actual number of dengue cases being under-reported. Apparently, several developed and under-developed nations around the globe are also prone to this disease on the back of unplanned and uncontrolled urbanization, poor management and others. The increasing concern for the spread of dengue virus around the world along with huge government funding for the manufacturing of the dengue vaccine, which led to greater affordability of the vaccine, are some of the factors anticipated to drive the growth of the global dengue vaccine market.
Lack of awareness of the dengue vaccine as well as for the availability of the vaccine is anticipated to hamper the growth of the global dengue vaccine market.
Some of the affluent industry leaders in the global dengue vaccine market are Merck & Co., Inc., Sanofi, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited and Institut Pasteur. Moreover, numerous players are also increasingly investing on research and development activities for the launch of advanced form of dengue vaccines.
Increasing incidences of dengue fever worldwide along with the need to vaccinate the infected individuals are some of the major factors that are driving the growth of the market.
The market is anticipated to attain a CAGR of around 22% over the forecast period, i.e. 2019-2027.
Asia Pacific (APAC) is anticipated to hold the dominating share in the market.
The market in Latin America is anticipated to provide more business opportunities in the future.
The major players in the global dengue vaccine market are Merck & Co., Inc., Sanofi, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited and Institut Pasteur.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is majorly segmented by age group, by end user and by region.
The >12 years segment, which is a sub-segment of the age group segment, is anticipated to hold the largest market share of around 54% in the year 2027.
Lack of awareness for the availability of dengue vaccines is one of the major factors anticipated to act as a barrier towards the growth of the global dengue vaccine market.
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