Dengue Vaccines Market Demand: Strong Pipeline to Rapidly Surge Growth
Increasing prevalence of dengue fever throughout the Asia-Pacific region has propelled the demand for effectual medicines and vaccines to overcome this viral disease. While some pharmaceutical companies are focusing on development of a cure to dengue, the rate of dengue in Asia-Pacific region in expanding robustly. According a report published by Future Market Insights (FMI), Asia-Pacific region will dominate in the dengue vaccines market during the forecast period (2017-2027). The region is estimated to procure largest revenue share with expansion at 17.4% CAGR throughout the assessment period.
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Latin America is likely to remain the second largest market for dengue vaccines and it will procure valuation nearly US$ 290 Mn by the end of forecast period. The report also forecasts that more and more pharmaceutical companies will be partaking in the expansion of dengue vaccines market in foreseeable period. A French drugmaker, Sanofi S.A. is actively participated in the market currently, while medicines are being formulated by leading players such as GlaxoSmithKline plc, Vabiotech, Merck & Co. Inc., Butantan Institute, Panacea Biotech Ltd, Takeda Pharmaceutical Company Limited, and Biological E. Limited.
The government institutes are expected to remain the largest end-user of the dengue vaccines, according to the report. Dengue vaccines sales across government institutes will generate revenues nearly US$ 650 Mn by the end of 2027. Further, hospitals will retain its dominance, exhibiting double-digit CAGR throughout the forecast period. Sales of the sole of the vaccines, Dengvaxia, manufactured by Sanofi is boosting the growth of the market presently. Additionally, the factors influencing the growth of the market profiled in the report are discussed below.
Key Highlights of Dengue Vaccines Market Report
- Other than the burdening occurrence of dengue in some countries, the economic turmoil in Latin America is estimated to influence growth of the global market at macroeconomic level.
- Live attenuated vaccines are also produced and developed economically, thereby consoling vaccines market and patients.
- Low availability of optimum diagnostic systems and lack of skilled professionals have led to cases, where dengue fever is being treated as undistinguished febrile disease.
- The global market of dengue vaccines is likely to secure an opportunistic revolution when companies are likely to able to successfully develop effective vaccines for all age groups.
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Overall, the global dengue vaccines market, which is currently valued nearly US$ 250 Mn, will increase rapidly to reach over US$ 1,250 Mn in terms of revenues, by the end of 2027.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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