Global Dengue Vaccines Market is expected to cross US$ 1 billion by 2031- says FMI Analyst
The global dengue vaccines market is poised to expand at a staggering double-digit CAGR through 2031, surpassing US$ 1 billion during the forecast period, concludes ESOMAR-certified market research company Future Market Insights (FMI) in its recently published report. Growth is majorly underpinned by the rising incidence of dengue fever across endemic regions.
According to the World Health Organization, 70% of the total disease burden is prevalent across Asia, thereby encouraging prominent pharmaceutical giants to increase inroads across such countries as India, the Philippines and Japan. Presently, the market appears highly consolidated, attributed to the existence of just one effective vaccine candidate- Sanofi Pasteur’s Dengvaxia®.
However, future pipeline projects by other prominent giants is likely to enhance the scope of the market. For instance, since 2018, Sun Pharmaceuticals Ltd. is working on the DSV4 vaccine which is expected to provide protection against dengue infection to previously unaffected patients. Likewise, since 2017, the Serum Institute of India has been developing the VIS513 monoclonal antibody which have exhibited positive outcomes in neutralizing the dengue virus in animal mode studies, with a breakthrough expected in 2021.
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Key Takeaways from FMI’s Dengue Vaccines Market Study
- CYD-TDV (Dengvaxia) to retain its dominance in the global dengue vaccines market, alternative candidates are under investigation
- By end-user, governments are expected to pivot majority of dengue vaccines demand in forthcoming years
- Major pharmaceutical giants are concentrating on developing live attenuated dengue vaccines amid their perceived greater effectiveness
- US to experience escalating growth, amid ongoing clinical trials to develop more vaccine candidates
- Mexico is expected to emerge as an attractive destination for dengue vaccine manufacturers
- Rising health & hygiene initiatives to spur dengue vaccines development across India
- Brazil to pivot most of the Latin American dengue vaccine market, amid an extremely high prevalence rate
“Present dearth of multiple vaccine candidates is likely to generate credible opportunities for prominent pharmaceutical corporations to increase R&D funding for new clinical trials and licenses, leading to an expansion of the global dengue vaccines market,” says the FMI analyst.
Competitive Landscape
Sanofi Pasteur Limited, Takeda Pharmaceutical Company Limited, Merck & Co. Inc., GlaxoSmithKline Plc, GeneOne Life Science Inc., Medigen Vaccine Biologics Corporation, Panacea Biotec Limited, Sun Pharmaceutical Industries Ltd, Serum Institute of India Pvt. Ltd. and Biological E Ltd. are some prominent dengue vaccines manufacturers as profiled by FMI.
Prominent players are looking to constantly introduce new vaccine candidates in order to remain afloat in the market. In 2020, Medigen Vaccine Biologics Corporation (MVC) completed the phase II study for the TetraVax-DV dengue vaccine in Taiwan, thereby establishing the safety and efficacy of the candidate. It subsequently initiated phase III of the study.
Likewise, in September 2020, Panacea Biotec Limited completed of its Phase I/II study of its novel, tetravalent recombinant chimeric Dengue candidate vaccine christened DengiAll. After a single dose, over 80% of the participants exhibited more than a trivalent response and around 95% showed multivalent response.
More Insights on the Global Dengue Vaccines Market
In its latest report, FMI offers an unbiased analysis of the global dengue vaccines market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product (CYD-TDV (Dengvaxia)) and end-user (hospitals, government institutes and NGOs) across seven regions (North America, Latin America, APEJ, Western Europe, Eastern Europe, Middle East & Africa and Japan).
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