The typhoid fever vaccines market has witnessed significant growth in recent times owing to the rising prevalence of typhoid fever across developing nations. Typhoid fever vaccines help provide protection against infections caused by Salmonella Typhi bacteria, which can have severe life-threatening complications if left untreated.
The global Typhoid Fever Vaccines Market is estimated to be valued at US$ 394.27 Million in 2023 and is expected to exhibit a CAGR Of 7.5% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of typhoid fever across developing regions such as Southeast Asia, Africa, and South America has been a major factor driving the growth of the typhoid fever vaccines market. According to the World Health Organization (WHO), over 11 million cases of typhoid fever are reported each year globally, resulting in over 100,000 deaths. Countries like India, Pakistan, Nepal, and Bangladesh have the highest burden of the disease. This has increased the focus on mass typhoid vaccination programs to curb the rising cases. For instance, Pakistan, India, Nepal, and Bangladesh have introduced typhoid conjugate vaccine (TCV) into their routine immunization program to control the disease burden in these regions. Such government efforts are expected to upscale the adoption of typhoid vaccines, thereby propelling the market growth.
Segment Analysis
The global typhoid fever vaccines market is fragmented, with the live attenuated oral vaccines segment dominating the market currently. This segment commands the largest share owing to ease of administration via oral dosage form and induction of both mucosal and systemic immunity against the typhoid fever causing Salmonella typhi bacteria. This leads to long lasting protection against the infection as compared to parenteral vaccines.
Key Takeaways
The Global Typhoid Fever Vaccines Market Demand is estimated to be valued at US$ 394.27 million in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030.
Regional analysis:
The Asia Pacific region holds the largest share currently and is expected to witness the fastest growth over the forecast period. Higher disease incidence in densely populated countries such as India and China is a key factor. Additionally, government initiatives to promote immunization programs through universal access to vaccination will support the market.
Key players:
Key players operating in the typhoid fever vaccines market are BASF SE, Croda Health Care, JRS Pharma, Lipoid GmbH, Azelis, U.K. Vet Chem, Gattefoss, Synergy API, Anzchem, Vantage. These players are focused on capacity expansion and new product launches especially live attenuated oral vaccines to further consolidate their position in the emerging markets.
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