Malaria Vaccines Market Growth With Healthy CAGR of 150.0% to reach US$ 790.7 Million till 2027: Coherent Market Insights
The Global Malaria Vaccines Market, by Vaccine Type (Pre-Erythrocytic Vaccine, Erythrocytic Vaccine, Multi-antigen Vaccine), by Agent (Plasmodium Falciparum, Plasmodium Vivax), By Distribution Channel (Hospitals, Clinics, Community Centers) will pegged to be valued at US$ 50.6 million in 2024 and is projected to expand at a CAGR of 150.0% during the forecast period (2024-2027). Rise in demand for vaccines for important indications on the backdrop of increasing focus on biological preparations is expected to be a major factor driving growth of the global malaria vaccines market over the foreseeable future.
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According to World Health Organization (WHO) malaria fact sheet and World Bank estimates, over 40% of the global population is at risk of malaria. Moreover, there were around 214 million malaria cases reported in 2015, leading to 438,000 deaths worldwide. Over 70% of these deaths were among children under 5 years of age. Sub-Saharan Africa accounts for the highest share of global malaria burden, with around 89% of malaria cases and 91% of malarial deaths in 2015. Such high impact of this life-threatening disease is influencing governments across various countries, companies, investors, and non-profit organizations to contribute towards curbing spreading of this disease. Since the problem of malaria is burdening many of the emerging and under developed regions such as in Africa and Asia Pacific, various initiatives have been implemented in these regions to drive down high costs of the vaccine in development. For instance, in 2016, GSK announced plans to develop vaccines at a mere profit margin of 5% of the cost of the vaccine. Governments across most regions are actively involved in programs aimed at eliminating malaria. For instance, Mosquirix (RTS,S), the first malaria vaccine developed by GlaxoSmithKline plc. received positive scientific opinion from EMA in 2015 and is presently being examined in 3 African countries (namely Ghana, Kenya, and Malawi) as a pilot study through malaria vaccine implementation programme (MVIP) led by WHO.
This pilot implementation designed as a six-year program, including preparation and the evaluations, which is expected to be completed by 2023. During this program, the RTS,S vaccine will be made available to at least 360 000 children per year across the 3 pilot countries from the health facilities. Further, GSK will continue to manufacture the vaccine and will supply up to 10 million doses free of charge for the MVIP. After successful completion of this programme, Mosquirix is expected to be marketed in 2024. Thus, the collaboration agreement among WHO, PATH and GSK for malaria vaccine implementation programme (MVIP) is a major factor contributing to the growth of malaria vaccine in the forecast period.
Browse 28 Market Data Tables and 24 Figures spread through 158 Pages and in-depth TOC on Global Malaria Vaccines Market, by Vaccine Type (Pre-Erythrocytic Vaccine, Erythrocytic Vaccine, Multi-antigen Vaccine), by Agent (Plasmodium Falciparum, Plasmodium Vivax), by Distribution Channel (Hospitals, Clinics, Community Centers)- Global Forecast to 2027″
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Shift from pharmaceutical oral dosage forms to parenteral dosage forms is expected boost the malaria vaccines market globally. The emerging economies are undergoing a wave of various healthcare reforms. Healthcare treatment regimens are becoming more reliable for the growth of the global market, with various initiatives in place to eradicate the menace of malaria. In 2016, in India, the National Framework for Malaria Elimination (NFME), was launched to eliminate the problem in the country. This program was based on the Framework by the National Vector Borne Disease Control Program (NVBDCP) of the Ministry of Health and Family Welfare. According to NFME, in 2012, the total economic burden of malaria in India was around US$ 1,940 Mn, with 75% from lost earnings and 25% from treatment costs borne by households. According to World Malaria Report 2015, India accounts for around 70% of the total malaria incidence rate in the South-East Asia. In 2014, the incidence rate of malaria in the country was around 0.89 per 1,000 person at risk per year. Around 1.1 Mn cases were reported, which lead to 562 deaths in India in 2014.
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Key takeaways of the malaria vaccines market:
- The global malaria vaccines market is expected to expand at a CAGR of 150.0% during the forecast period (2024–2027) as there exists a large unrealized market especially in Africa, Asia Pacific, Latin America and Middle East
- The Pre-Erythrocytic Vaccine dominates the market in the vaccines type segment, as it is used to prevent the infection completely, while blood-stage vaccines aim to reduce or eliminate the parasite load once a person is infected
- Plasmodium Falciparum is the major agent segment of malaria vaccines market, as Plasmodium falciparum infection are induced by the asexual stages of the parasite that develop inside red blood cells, making it one of most severe forms of malaria among various types of parasites causing malaria
- Some of the major players involved in global malaria vaccines market are GlaxoSmithKline plc, Sanaria Inc, Nobelpharma Co., Ltd., Sumaya Biotech and GenVec, Inc.
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