New York, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Also known as breakbone or dandy fever, the total number of recorded dengue fever cases across the globe were around 1.5 million by the middle of 2020. Co-infection of dengue and COVID-19 is raising complications, and to tackle this unusual scenario which might turn fatal, the governmental bodies are introducing mass vaccination programs, whereas healthcare providers are using balanced tactics to manage both the conditions at once.
Exhibiting the market analysis from 2018-2027, Research Nester has segmented the Global Dengue Vaccines Market by age group and end-user. Additionally, the study covers the growth of the market in five major regions, i.e., North America, Latin America, Europe, Asia Pacific and Middle East & Africa region and further includes latest trends, challenges and opportunities pertaining to the growth of the market along with the strategies used by key players to stay ahead of their competitors.
As per W.H.O. (World Health Organization), the estimated number of dengue infections worldwide account for 100-400 million each year. Dengue is among the leading cause of serious illness and fatalities, mostly in Asian and Latin American countries. The number of dengue infections reported to WHO increased from 505,430 cases in 2000 to 4.2 million in 2019, which was an estimated increase of around 8-fold over the stated period. This alarming growth in the incidence rate of dengue worldwide is estimated to boost the growth of the global dengue vaccines market. In 2027, the market is estimated to cross valuation of USD 1100 Million by growing at a CAGR of around 22% during the forecast period, i.e., 2019-2027.
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Geographically, the dengue vaccines market in Asia Pacific is projected to hold the leading stance in the overall market, where the China dengue vaccines market is estimated to generate highest revenue of around USD 140 Million by 2027. This growth is closely trailed by the market in India. According the statistics provided by United Nations Development Programme, a 30-fold increase in dengue cases has been witnessed in the last 50 years. 70% among the anticipated 2.5 billion people with risk for dengue were from the Asia Pacific region in 2019. Philippines declared a national dengue pandemic with highest number of confirmed deaths in the same year. At present, Brazil holds the highest number of confirmed cases, amounting to approximately 800,000. The dengue vaccines market in Brazil is estimated to touch USD 20 million in 2020.
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The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
With 40% of the world’s population at risk, various public health institutions and research bodies that are working towards accelerating the development of dengue vaccines are significantly funding in order to curb and prevent the spread of the dengue virus (DENV). For instance, the funding for dengue research and development in India witnessed an increase of around 45% between 2016 and 2017. However, lack of awareness and low healthcare spending in the low-income countries might act as barriers to the growth of the market. According to the W.H.O., the health spending in the low-income countries comprising West, Central and East Africa, and South Asia among others was USD 41 a person in 2017.
The global dengue vaccines market is also segmented on the basis of age-group and end-users.
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Global Dengue Vaccines Market, Segmentation by Age-Group
- <6 years
- 6-12 years
- >12 years
Global Dengue Vaccines Market, Segmentation by End-Users
- Hospitals
- Clinics
- Government Establishments
- Private Establishments
- Ambulatory Surgical Centers
- Others
In an attempt to develop effective vaccines to reduce dengue burden among the masses, the pharmaceutical companies are actively participating in clinical trials among other research and development activities that are further estimated to drive the growth of the dengue vaccines market globally in upcoming years. Some of the prominent industry leaders in the global dengue vaccines market are Merck & Co., Inc., Sanofi, Panacea Biotec Ltd., GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited and Institut Pasteur. In order to fight dengue, companies are progressively working on finding effective and affordable vaccines with continuous help from health and research institutions. For instance, in September 2020, Panacea Biotec announced the successful completion of phase I/II study on DengiAll vaccine to help the fight against dengue. Moreover, in 2018, Merck and Instituto Butantan announced their collaboration to develop dengue vaccines.
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