July 24, 2024

Projected Increase in Disease Burden to Boost the Growth of the global Shigella Vaccines Market

Shigella is a genus of bacteria that causes shigellosis or bacillary dysentery in humans. It is a highly contagious disease that spreads through contaminated food and water, or directly from one infected person to another. Shigellosis causes symptoms like abdominal cramps, fever, bloody diarrhea and vomiting. While antibiotics are used to treat the disease, there is no vaccine available to prevent it. Development of shigella vaccines can help control the spread of the disease globally and reduce associated health and economic burden.

The global Shigella Vaccines Market is estimated to be valued at US$ 574.20 million in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The demand for shigella vaccines is expected to rise significantly during the forecast period due to increasing disease burden. As per WHO, shigellosis leads to over 160,000 deaths annually, with majority occurring in children under 5 years of age in developing countries. Developed countries also see outbreaks periodically. With growing antibiotic resistance in shigella strains, disease prevention through vaccination becomes more important. Several candidates are under development and few are in clinical trials. Successful launch of new safe and effective vaccines can help curb disease transmission and provide long term immunity. This is likely to boost adoption and drive the shigella vaccines market growth over the next few years.

Porter’s Analysis:

Threat of new entrants: Low because of the high R&D and clinical trial costs involved in vaccine development as well as established brand loyalty for existing players.

Bargaining power of buyers: Moderate due to availability of alternative treatment options. However, demand is expected to increase with growing awareness.

Bargaining power of suppliers: Low due to few global players having technical expertise in vaccine development and manufacturing.

Threat of new substitutes: Low due to lack of other preventive options for Shigella infection.

Competitive rivalry: High among existing players to gain higher market share.

Key Takeaways:

The global Shigella Vaccines market is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing R&D investments by players and growing awareness.

The market size for 2023 is estimated to be US$ 574.20 million. Regional analysis: North America dominated the global market in 2023 and is expected to continue its dominance over the forecast period. This is attributed to growing incidence of Shigella infection, availability of advanced healthcare facilities and presence of key players in the region. Asia Pacific is anticipated to be the fastest growing market between 2023 to 2030 owing to increasing healthcare expenditure and rising awareness about shigellosis.

Key players: Key players operating in the Shigella Vaccines market are MSD Wellcome Trust Hilleman Laboratories Pvt. Ltd., Novartis (Novartis Vaccines Institute for Global Health), and GlaxoSmithKline plc. MSD Wellcome Trust Hilleman Laboratories Pvt. Ltd has leading position with its candidate Vaxart being in phase 2 clinical trial.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research

2.      We have leveraged AI tools to mine information and compile it