The Global Anthrax Vaccine Market is estimated to surpass a revenue of US$ 1,006.33 million by 2031 from US$ 599 million in 2022. The global market will grow at a CAGR of 6.7% during the forecast period from 2023 to 2031.
The anthrax vaccine market is experiencing a strong growth pattern. This can be due to the increasing prevalence of infectious diseases in both humans and animals and the growing awareness about these diseases. Additionally, there has been a rise in the dosage of the anthrax vaccine, contributing to the market’s expansion. Furthermore, the market is likely to face heightened competition as biopharmaceutical companies are likely to enter the scene, driven by increased funding for anthrax research and the development of vaccines.
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Anthrax represents a substantial economic and public health threat to nations. According to the NCBI, the disease is prevalent in various regions globally, with southern and eastern Europe being particularly affected. Annually, there are between 20,000 to 100,000 anthrax cases in animals worldwide, and approximately 1.8 billion individuals live in areas prone to anthrax, placing them at direct risk. These areas are primarily located in Africa, Europe, and Asia. Enhancing surveillance, diagnosis, and response to outbreaks can contribute to the prevention of anthrax in both animals and humans. Due to its high prevalence rate and the severity of infection, preventive healthcare organizations prioritize addressing this disease.
In accordance with this, the World Organization of Animal Health (WOAH) recorded 267 instances of anthrax in animals in Europe between 2005 and 2022. 251 cases were observed in domestic animals and 16 in wildlife. The existence of numerous biothermal pits and burial sites for deceased cattle across the country provides favorable conditions for the emergence of new anthrax outbreaks. Although the majority of confirmed cases were found in cattle, isolated incidents were also reported in dogs, horses, and pigs. Furthermore, the increasing consumption of beef, pork, and poultry further amplifies the risk of anthrax. Consequently, the growing number of cases contributes to the expansion of the global market.
Government Awareness Program and Companies R&D Activities: Rising Growth Opportunities for the Market
As the number of anthrax infections continues to rise, there is a growing global awareness about the importance of anthrax vaccines. Governments and companies are implementing awareness programs to educate people about the risks associated with anthrax and the need for vaccination. For example, in August 2023, the Lagos State University of Science and Technology conducted a workshop to educate residents about anthrax disease. Similarly, in July 2023, Indonesia’s Health Ministry raised awareness about the potential spread of anthrax spores from livestock to humans in Yogyakarta. Additionally, in June 2023, the Federal Ministry of Agriculture and Rural Development, along with its development partners, took preventive measures against anthrax outbreaks in neighboring countries within the West African sub-region. This increasing awareness is driving the growth of the global anthrax vaccine market.
Continued research and development efforts aimed at creating safer and more effective anthrax vaccines are a significant trend influencing the global market. In 2020, companies invested around US$ 42 billion in biopharmaceutical research and development, with a portion of that funding dedicated to improving anthrax vaccines. Collaborations between biotechnology and pharmaceutical firms are also increasing to enhance vaccine efficacy and reduce the vaccination schedule. For instance, GlaxoSmithKline successfully conducted Phase II trials for a new anthrax vaccine in 2022, demonstrating the ongoing advancements in this field. These developments highlight the potential for future growth in the anthrax vaccine market.
Asia Pacific to Generate About US$ 211.26 Million of Revenue in the Global Market
By 2030, the Asia Pacific market is likely to expand to a market value of US$ 211.26 million, with a CAGR of 8.8%. The market is rising in emerging economies like China and India owing to better healthcare infrastructures and more public awareness of health issues. The disease has a wide geographic prevalence because cases have been reported in several Asian countries.
According to the National Center for Biotechnology Information (NCBI), the incidence of human anthrax in China has been relatively low in recent years, but there has been an increase in reported cases in 2021. From 2018 to 2021, a total of 1,244 cases of human anthrax and 53 outbreaks were reported in China. The regions most affected by anthrax were primarily located in the western and northeastern parts of the country. It was found that young and middle-aged men involved in animal husbandry were at a higher risk of contracting anthrax. All reported outbreaks were associated with exposure to infected livestock, and a total of 296 cases of livestock anthrax were reported. Anthrax remains an endemic disease in China, with a significant number of human cases reported each year. This rising number of cases drives the demand for the anthrax vaccine market.
Several producers are working on developing anthrax vaccines in response to the increased demand, which is helping the market expand. For instance, after starting the development project more than 20 years ago, South Korea is currently in the process of procuring a domestic anthrax vaccine in October 2023.
The establishment of production facilities by manufacturers in China will help advance the development of these vaccines’ mass production and distribution, which will drive market expansion in the area. The robust market expansion can be due to Japan’s extensive vaccine production facilities and its top-notch healthcare system.
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Key Takeaways for the Global Anthrax Vaccine Market
- In terms of Type, Cell-free PA vaccines have become a major source of revenue in the global anthrax vaccine market. These vaccines have proven to be effective in preventing anthrax infections and have gained widespread adoption. With revenue exceeding $366.5 million, they have emerged as a significant segment in the market.
- In terms of Application, the animal segment is the primary consumer in the anthrax vaccine market, generating revenue of more than $586.7 million in 2022. This substantial revenue highlights the importance of anthrax vaccination in safeguarding animal populations globally.
- In terms of Region, Latin America was the largest Anthrax vaccine market, generating $243 million in revenue in 2022.
Top Players in the Global Anthrax Vaccine Market
- Colorado Serum
- Emergent BioDefense Corporation (BioThrax)
- Indian Immunologicals
- IVPM
- Merck
- Merial
- Porton Biopharma Limited
- Prondil
- Zoetis, Inc.
- PharmAthene, Inc.
- Other Promienent Players
Market Segmentation Overview:
By Type
- Cell-free PA Vaccines
- Live Vaccines
By Application
- Animal
- Human
By End Users
- Hospitals and Clinics
- Veterinary Centers
- Others
By Region
- North America
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- The U.S.
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- Canada
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- Mexico
- Europe
- Western Europe
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- The UK
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- Germany
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- France
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- Italy
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- Spain
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- Rest of Western Europe
- Eastern Europe
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- Poland
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- Russia
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- Rest of Eastern Europe
- Asia Pacific
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- China
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- India
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- Japan
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- South Korea
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- Australia & New Zealand
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- ASEAN
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- Rest of Asia Pacific
- Middle East & Africa
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- UAE
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- Saudi Arabia
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- South Africa
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- Rest of MEA
- South America
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- Argentina
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- Brazil
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- Rest of South America
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