The global dengue vaccines market is set for significant expansion, with total revenue expected to exceed USD 474.8 million by 2023. Projections indicate that the market will soar to USD 1,603.7 million by 2033, driven by an impressive compound annual growth rate (CAGR) of 12.9% by volume.
This surge in demand is propelled by several key factors, including groundbreaking advancements in dengue vaccine development. Leading pharmaceutical companies are nearing the completion of major clinical trials, with results expected to reshape the landscape of dengue vaccine availability. As a result, the dominance of the current vaccine, Denvaxia®, is anticipated to give way to a range of new alternatives, enhancing treatment options for this global health threat.
The growth of the dengue vaccines market is also being fueled by a series of international collaborations and partnerships between healthcare stakeholders from diverse institutional settings. These collaborations are spurring the development of novel vaccine formulations, with clinical trials and research intensifying. A significant portion of this growth is expected to occur in the Asia-Pacific region, home to the highest concentration of dengue fever cases and a strong presence of reputable regional pharmaceutical companies.
While a large percentage of dengue cases are asymptomatic, moderate, or self-managed, the true scale of the infection is often under-reported. Estimates suggest that there are 390 million dengue virus infections annually, with 96 million presenting clinically. This underreporting further underscores the critical need for effective vaccination solutions.
India, in particular, is witnessing a remarkable shift in its dengue vaccination market, supported by national expert groups and collaborative efforts between various healthcare organizations. These initiatives are helping to accelerate research and development in vaccine technology, positioning India as a key player in the global market. With increasing awareness and collaboration, India is expected to play a pivotal role in boosting the growth prospects of the dengue vaccines market in the coming years.
As the global fight against dengue intensifies, the market for dengue vaccines is poised for continued innovation and growth, promising improved prevention strategies and a brighter future for the millions affected by this disease worldwide.
Key Takeaway:
- Over the historical period, the worldwide market grew at an 11.9% CAGR.
- Over the next several decades, the Chinese market is expected to grow at a CAGR of 14.8%.
- The United States has emerged as a key market, accounting for more than 16.5% of overall demand in 2022.
- The Indian market is expected to grow at a CAGR of 11.7% in the future decades.
- In 2022, the Government Institutes category had a market share of Government Institutes.
“As a result the worldwide dengue fever prevalence burden is mostly concentrated in Asian nations, major pharmaceutical businesses are projected to discover lucrative income streams in India, Japan, and South East Asia.” says an FMI analyst.
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Competitive Landscape:
The renowned firms’ primary expansion strategy remains clinical trials to create several vaccine candidates. Market participants are effectively exploiting strategic collaborations with big pharmaceutical businesses or research institutions, mergers and acquisitions, and capacity expansion projects to accomplish this.
- Takeda revealed in May 2023 that their dengue vaccine QDENGA® has gained various authorizations, which includes one from Brazil’s National Health Surveillance Agency in March 2023 for use in persons aged 4 to 60 years to safeguard against all four serotypes.
- Argentine health officials have approved the application of a Japanese dengue vaccine that must be provided in two doses three months distant, according to a story in Buenos Aires in April 2023.
Key Companies Profiled:
- 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.
- Biological E Ltd.
Key Segments Covered
Product:
- CYD-TDV (Dengvaxia)
End-User:
- Hospitals
- Government Institutes
- Non-governmental Organizations (NGOs)
Region:
- North America (USA and Canada)
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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