Malaria vaccines are preventive measures to protect against malaria, an infectious disease transmitted through mosquito bites. Malaria, also known as plasmodium infection, manifests as recurring chills, fever, and sweating episodes. These vaccines can be administered through different routes, including intramuscular, subcutaneous, and intradermal injections. The World Health Organization (WHO) recommends using these vaccines in regions with a high incidence of malaria and effective transmission rates.
According to Data Bridge Market Research, the Malaria Vaccines Market accounted for USD 1,852.38 million in 2021 and is expected to reach USD 18,913.86 million by 2029. The market is expected to grow with a CAGR of 33.70% in the forecast period of 2022 to 2029.
“Rise in the prevalence of malaria in low-income countries boosts the market’s growth”
The prevalence of malaria in low-income countries is driving the growth of the malaria vaccine market. With the high burden of malaria in these regions, there is an urgent need for effective preventive measures. The development and availability of malaria vaccines provide a promising solution to combat the disease. The rise in malaria cases, particularly in low-income countries, creates a significant market demand for these vaccines. As efforts to control and eliminate malaria intensify, the malaria vaccine market is expected to experience growth, offering hope in reducing the burden of this devastating disease.
What restraints the growth of the malaria vaccines market?
“High cost associated with drug development restraints the market’s growth”
The high cost associated with drug development significantly restrains the growth of the malaria vaccine market. Developing vaccines is a complex and resource-intensive process that involves extensive research, clinical trials, and regulatory approvals. The substantial financial investment required for these activities and the uncertain success rates in vaccine development create a barrier for companies operating in the malaria vaccine market. The high cost of development limits the number of players entering the market and hinders the availability and affordability of malaria vaccines, impacting the overall market growth.
Segmentation: Malaria Vaccines Market
The malaria vaccines market is segmented on the basis of route of administration, agent, vaccine type, end-users, and distribution channel.
- On the basis of route of administration, the malaria vaccines market has been segmented into intramuscular, subcutaneous, intradermal, and others.
- On the basis of agent, the malaria vaccines market has been segmented into plasmodium falciparum, plasmodium vivax, and anopheles species.
- On the basis of vaccine type, the malaria vaccines market has been segmented into pre-erythrocytic, erythrocytic, multi-antigen, and others.
- On the basis of end-users, the malaria vaccines market has been segmented into hospitals, specialty clinics, homecare, and others.
- On the basis of distribution channel, the malaria vaccines market has been segmented into hospital pharmacy, retail pharmacy, online pharmacy, and others.
Regional Insights: North America dominates the malaria vaccines market
North America dominates the malaria vaccine market due to the presence of prominent manufacturers and well-established healthcare infrastructure. Moreover, the market's growth rate is expected to be driven by substantial research and development investments and skilled professionals' availability. These factors will contribute to the expansion of the market in this region.
Asia-Pacific is expected to grow during the forecast period of 2022 to 2029 owing to heightened government awareness programs and increased healthcare expenditure. Furthermore, the market's growth rate will be supported by the growing availability of generic drugs, which will contribute to its expansion in this region.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-malaria-vaccines-market
Recent Development
- In October 2021, GlaxoSmithKline (GSK) plc expresses its appreciation and support for the World Health Organization's (WHO) recommendation to extend the utilization of GSK's RTSS malaria vaccine to children residing in Sub-Saharan Africa and other regions with moderate to high malaria transmission, as outlined by WHO. Through extensive long-term clinical trials, RTSS has demonstrated a significant reduction in malaria cases among children, making it the first and only vaccine of its kind. The development of this vaccine is the result of over three decades of collaborative efforts between GSK, PATH, and other partners.
The Prominent Key Players Operating in the Malaria Vaccines Market Include:
- Actiza Pharmaceutical Private Limited (India)
- AdvaCare Pharma (U.S.)
- Ipca Laboratories Ltd. (India)
- Bliss GVS Pharma Ltd. (India)
- GeoVax (U.S.)
- Sumaya Biotech (Germany)
- VLP Therapeutics (U.S.)
- OSIVAX (France)
- AJANTA PHARMA (India)
- Strides Pharma Science Limited (India)
- Mylan N.V. (U.S.)
- Zydus Cadila (India)
- Cipla Inc. (U.S.)
- Sun Pharmaceutical Industries Ltd. (India)
- Sanofi (France)
- Hikma Pharmaceuticals PLC (U.K.)
- Amneal Pharmaceuticals LLC. (U.S.)
- Taj Pharmaceuticals Limited. (India)
- Lupin (India)
- Novartis AG (Switzerland)
- Pfizer Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of malaria vaccines market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Malaria Vaccines Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
