Global malaria vaccines market is forecast to reach USD 134.9 million by 2026, growing at a CAGR of 33.2% during the estimated period, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2026.
According to the recent World Malaria Report published by WHO, in 2017, cases for malaria were around 219 million in over 90 countries, up from 217 million in the year 2016. Whereas the total number of deaths caused due to the illness was recorded around 435,000 in 2017, mainly from the malaria affected regions.
Indeed, the disease has shown significant effects on pregnant women and their unborn child. For instance, expecting women who suffer from malaria are seen to offer early births, which in some cases leads infant mortality. Thus, to counter such tragic events, several precautionary measures can be taken that could help reduce the possibility of malaria. Some of these measures include using insect nets and spraying of pesticide products.
However, existing research suggests that insects have gradually developed immunity to pesticides and the use of these chemicals could also have dire effects on human beings. Moreover, malaria fever is also estimated to eventually end up being immune to current medications. Factors that are adding to the growing demand for much effective treatments for malaria.
The report cites that the global malaria vaccine market has amassed high impetus in recent years, primarily due to the rising occurrence of malaria coupled with the presence of several companies that are actively introducing affordable vaccines throughout the world. Furthermore, growing awareness associated to the aftereffects of malaria, continuous focus on R&D in the sector, and increased funding from governments in both developing and developed nations, will certainly push the market globally over the predicted timeline.
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However, weak supply chain & distribution network in some developing countries that are increasingly affected by malaria would deter market growth in future. Nevertheless, government organizations and associated companies are actively collaborating to tackle this challenge in such regions. Moreover, it is also anticipated that continuous R&D for the development of malaria vaccines and surging growth of this disease will sustain growth momentum over the coming years.
The malaria vaccines market is segmented based on vaccine type, channel of distribution, agent, and region. In terms of vaccine type, the market is divided into erythrocytic vaccine, pre-erythrocytic vaccine, and multi-antigen vaccine. The channels of distribution used for malaria vaccines comprise clinics, hospitals, and community centers. Depending on the type of agent, the global malaria vaccines market is divided into anopheles species, plasmodium falciparum, and plasmodium vivax.
As per the WHO report, in 2017, around half of the world’s population was at risk of encountering malaria, of which the African region was reported to be the most affected one. With regards to regional contribution, in consort with Africa, the Asia Pacific region is also expected to grow at a considerable pace in the coming years. The report also cites Latin America and the Middle East to be the other potential revenue grounds for malaria vaccines market. Meanwhile, the cases of malaria-related diseases have been low in Europe and North America, while regions such as Africa have recorded the highest death count among children due to malaria. Instances that signify the regional growth potentials for the malaria vaccines market.
The key organizations profiled in this business space are GenVec, Inc., GlaxoSmithKline, Nobelpharma, Sanaria, CellFree Sciences Co. Ltd., VLP Therapeutics LLC, Cadila Healthcare Ltd., and Genome ReS Ltd.