A vaccine to prevent dengue is licensed and available in some countries for people aged 9 to 45 years. One dengue vaccine has been licensed so far. Dengvaxia (CYD-TDV), developed by Sanofi Pasteur, a live attenuated tetravalent chimeric vaccine made using recombinant DNA technology.
The global dengue vaccine market is witnessing approval and launch of new vaccines. For instance, in May 2019, the U.S. Food and Drug Administration approved Dengvaxia (Dengue Tetravalent Vaccine, Live) for the prevention of dengue disease caused by serotypes 1 – 4 of the virus in individuals 9 through 16 years of age living in endemic areas of the U.S.
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Global Dengue Vaccine Market: Drivers
High prevalence of dengue is expected to propel growth of the global dengue vaccine market over the forecast period. For instance, according to the World Health Organization, about half of the world’s population is now at risk of dengue with 100-400 million infections each year.
Moreover, availability of vaccines in emerging regions is also expected to aid in growth of the market. For instance, in January 2020, Takeda Pharmaceutical Company Limited partnered with Shire plc.’s to market its dengue vaccine in Latin America.
Global Dengue Vaccine Market: Opportunities
Government initiatives to boost vaccination is expected to offer lucrative growth opportunities for players in the global dengue vaccine market. For instance, in August 2019, the government of Philippines announced its plan for mass vaccination for dengue after dengue outbreak in the Philippines.
Moreover, increasing funding for R&D of vaccines is also expected to aid in growth of the market. For instance, in January 2020, Emergex Vaccines Holdings Ltd. raised US$ 11 million for R&D of dengue vaccine.
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The global dengue vaccine market is estimated to account for US$ 1,262.0 Mn in terms of value by the end of 2027. Growth of the market is driven by high prevalence of dengue in aging population. For instance, in February 2018, dengue infection rate increases with age, according to the researchers at Taipei Medical University. The team also reported that the female population older than 40 years was at a higher risk of infection.
Government Institutes segment in the global dengue vaccine market was valued at US$ 169.6 Mn in 2019 and is expected to reach US$ 657.6 Mn by 2027 at a CAGR of 18.5% during the forecast period.
Asia Pacific held dominant position in the global dengue vaccine market in 2019, accounting for 70.2% share in terms of value, followed by Latin America. The growth of the market in Latin America is driven by increasing prevalence of dengue. For instance, a total of 1,191,815 cases of dengue were reported, according to the Pan American Health Organization, in the region of the Americas, between epidemiological week 1 and 22 of 2019, of which 546,589 were laboratory-confirmed and 5,599 were classified as severe dengue.
Global Dengue Vaccine Market: Restraints
Dengue fever is hard to be distinguished from other febrile diseases. Moreover, there is lack of clarity regarding the pathophysiology of dengue. These factors are expected to limit growth of the global dengue vaccine market.
Global Dengue Vaccine Market: Competitive Landscape
Major players operating in the global dengue vaccine market include, GlaxoSmithKline, and Merck & Co., Sanofi, and Takeda Pharmaceutical Company Limited.
Dengue Vaccine Market, By End User:
- Government Institutes
Dengue Vaccine Market, By Region
- North America
- Latin America
- Asia Pacific
- Middle East
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