Cholera Vaccine Market to Incur Steady Growth $207 million by 2025 | CAGR 15.6%
The global cholera vaccine market generated $65 million in 2017, and is projected to reach $207 million by 2025, growing at a CAGR of 15.6% from 2018 to 2025. The Dukoral segment accounted around half of the total market share in 2017.
Cholera is an acute, profusely watery diarrhea caused by Vibrio cholera and spreads through contamination of water and food. In addition, it is closely associated with poor sanitation and lack of clean drinking water. The number of global cholera disease cases accounts for around 35 million every year. Currently, the frequency of cholera epidemics has increased mainly in low- and middle-income countries. Cholera control is the main priority in cholera-endemic areas, which in turn increase the demand for the cholera vaccines.
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The cholera vaccine market is expected to exhibit significant growth during the forecast period due to lack of proper sanitation & consumption of contaminated food and growth in awareness about cholera preventive care. In addition, development of novel approaches for new cholera vaccine further drive the market growth. However, risk of adverse effects and the time taken for the regulatory approval is projected to impede the market growth. On the contrary, high growth opportunities in untapped markets are expected to offer significant profitable opportunities for the market players in the near future.
Based on end user, the market is categorized into hospitals & clinics, research & academic laboratories, and others. The hospitals & clinics segment presently dominates the market, and is expected to remain dominant during the forecast period. This is attributed to the fact that hospitals and clinics are authorized to organize campaigns for cholera vaccination, as the number of cases for cholera diseases is rapidly growing in LMICs.
Asia-Pacific was the leading revenue contributor to the global cholera vaccine market in 2017, and is expected to remain dominant throughout the forecast period due to increase in the prevalence of cholera disease and rise in importance of immunization. However, North America is expected to grow at the highest CAGR during the study period. This is attributed to the launch of the first and only oral cholera vaccine, Vaxchora, in the USA. Furthermore, the number of travelers to the cholera-affected countries is increasing, which in turn increases the demand for immunization.
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The Major key players Are:
• Valneva SE
• Emergent BioSolutions, Inc. (PaxVax, Inc.)
• Astellas Pharma, Inc.
• Sanofi (Shantha Biotechnics Private Limited)
• Eubiologics Co., Ltd.
• Johnson & Johnson (Crucell)
• Celldex Therapeutics, Inc
The Other Key players Are:
• Merck & Co., Inc.
• GlaxoSmithKline plc.
Key Findings Of The Study
1. Based on product, the Vaxchora segment is expected to experience rapid growth in the market, and is projected to grow at a CAGR of 17.4% from 2018 to 2025.
2. Depending on end user, the pharmaceutical & biotechnology companies segment is expected to exhibit the highest CAGR during the forecast period.
3. U.S. generated the highest revenue in the global cholera vaccine market industry in 2017, accounting less than one-tenth of the global market in 2017.
4. North America is estimated to grow at a CAGR of 17.1% during the forecast period.
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