Dengue Vaccine Market to expand at a 17.3% CAGR over the forecast period 2027
Growth of the global dengue vaccine market is mainly driven by rising burden of dengue fever in tropical regions, large unmet medical need for managing dengue burden, promising end stage vaccine pipeline, development of live attenuated tetravalent dengue vaccine and expected local production of dengue vaccine in various countries are expected drive the market over forecasted period.
Other prominent factors driving growth of the market are adoption/uptakeof dengue vaccine by various countries in dengue endemic regions of Latin America and Asia Pacific and increased governments interest to incorporate the vaccine in public immunization programmes in various countries
However, supply side infrastructure bottle necks such as surveillance system, standardized diagnostics practice, and cold chain systems for storage of vaccine in resource constrained countriesare the factors suggestive of barrier to growth of global Dengue Vaccinemarket.
Players in thedengue vaccine development and in market are employing strategies to incorporate dengue vaccine in public immunization programs and vaccines in clinical stage development are being tested for safety and efficacy in all age groups and different transmission settings.
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Market SegmentationbyEnd User
Based on end user, the market has been segmented into hospitals, government institutes, and Non-Governmental Organizations (NGOs). In terms of value, government institutesegment is estimated to account for more than 51.9% market share in global dengue vaccine market, by 2027 end.
The global Dengue Vaccinemarket has been segmented into four major regions:Latin America, Asia Pacific, Middle East & Africa (MEA), and Rest of the World (RoW). In terms of value, the Asia Pacific markethas been estimated to dominate the global dengue vaccine market in 2017,and is expected to expand at a CAGR of 17.4% over the forecast period. Latin America isexpected to be the fastest growing markets among regional markets. Latin Americamarket is expected to witness highest CAGR of 18.0% over the forecast period. In Latin America, Brazil market is expected to grow at faster rate to reach the value US$ 164.8Mn by 2027 end. Market in Middle East & Africa is expected to exhibit slow CAGR owing to lack of infrastructure in the region.
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Some of the key players inthe global Dengue Vaccinemarket includeSanofi, Takeda Pharmaceutical Company Limited, Panacea Biotech, Butantan Institute, Biological E Limited, GlaxoSmithKline plc. Merck & Co., Inc., and Vabiotech