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®.
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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.
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
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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.
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