July 25, 2024

Typhoid Fever Vaccines Market Driven By Rising Health Awareness Is Estimated To Be Valued 

Typhoid fever vaccines help prevent typhoid, a life-threatening bacterial infection caused by Salmonella Typhi. They provide protection for individuals at high risk of infection, such as travellers to areas with poor sanitation and limited access to clean water. There are two main types of typhoid vaccines – killed/inactivated vaccines and live attenuated oral vaccines. Killed/inactivated vaccines provide longer lasting protection while oral vaccines offer practical advantages of one-dose administration. The global Typhoid Fever Vaccines market has been driven by rising awareness about typhoid prevention through vaccination and increasing focus on treatment of typhoid in developing nations.

The global Typhoid Fever Vaccines Market is estimated to be valued at Us$ 394.27 Mn 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:

 

One of the key trends in the typhoid fever vaccines market has been the development of next-generation oral typhoid vaccines with better efficacy and safety. Oral vaccines provide the benefits of needle-free administration and induction of both mucosal and serum antibodies. However, currently available oral vaccines have limited efficacy, especially in children below 2 years of age. Researchers are developing new oral vaccines using attenuated live typhoid strains with mutations that enhance immunogenicity without compromising safety. These next-gen oral vaccines show promise of providing protective immunity from the first dose itself across all age groups. Their successful development and launch can boost the adoption of oral typhoid immunization globally.

Porter’s Analysis

Threat of new entrants: Low, as the market requires considerable investment in R&D to develop vaccines and the presence of established players make it difficult for new players to enter.

Bargaining power of buyers: Moderate, as buyers have some influence over prices due to availability of substitutes like antibiotics for treatment.

Bargaining power of suppliers: Low, as the key raw materials used in manufacturing vaccines are commoditized in nature.

Threat of new substitutes: Low, as vaccines are considered the most effective prevention method though substitutes like antibiotics exist for treatment.

Competitive rivalry: Intense, as the market is dominated by few global players investing heavily in R&D and production capabilities.

Key Takeaways

The Global Typhoid Fever Vaccines Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The global Typhoid Fever Vaccines Market is estimated to be valued at US$ 394.27 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030.

The Asia Pacific region currently dominates the market and is expected to continue its dominance over the forecast period owing to increasing prevalence of typhoid fever cases in countries like India. Asia Pacific constitutes a major share of the global market owing to the increasing governmental support for immunization programs in countries like India where typhoid fever remains a major public health issue. With large population and gaps in sanitation infrastructure, Asia Pacific is projected to remain the fastest growing regional market during the forecast period.

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 new product launches, expansion of regional presence and partnerships with local players to strengthen their position in the market.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it