Richmond, Feb. 27, 2024 (GLOBE NEWSWIRE) -- According to MarketDigits, the Cholera Vaccines Market was valued USD 91.50 Million in 2023 and projected to reach USD 167.3 Million by 2030, growing at a CAGR of 9.0% during the forecast period of 2023-2030.
Major vendors in the global Cholera Vaccines Market: Astellas Pharma Inc., Emergent BioSolutions Inc., GlaxoSmithKline plc (GSK), Merck & Co. Inc., and Mitsubishi Tanabe Pharma Corporation, Sanofi, Takeda Pharmaceutical Co. Ltd, Valneva SE, PaxVax Inc., Pfizer Inc. and Others.
The Cholera Vaccines Market is a dynamic sector within the global pharmaceutical industry focused on the development, production, and distribution of vaccines aimed at preventing cholera infections. Cholera, a severe diarrheal disease caused by the bacterium Vibrio cholerae, continues to pose a significant public health challenge, particularly in regions with inadequate sanitation and limited access to clean water.
The market encompasses a range of vaccine types, including oral and injectable formulations, with a primary goal of reducing the incidence and burden of cholera worldwide. Factors such as increasing awareness about preventive healthcare, growing investments in vaccine research and development, and rising initiatives by governments and international organizations to combat infectious diseases are expected to drive market growth. Moreover, ongoing efforts to expand access to vaccines in vulnerable populations and advancements in vaccine technologies are likely to shape the future landscape of the cholera vaccines market.
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Increasing prevalence of cholera and other chronic diseases.
The increasing prevalence of cholera and other chronic diseases serves as a significant driver for the Cholera Vaccines Market. As cholera remains a persistent global health concern, particularly in regions with poor sanitation and limited access to clean water, the need for effective preventive measures like vaccination becomes paramount.
Additionally, the rising incidence of chronic diseases further underscores the importance of cholera vaccination, as individuals with underlying health conditions are often more vulnerable to severe complications from infectious diseases. This dual burden of cholera and chronic diseases highlights the critical role of vaccination in reducing disease transmission, improving public health outcomes, and alleviating the strain on healthcare systems. Consequently, the growing recognition of the interplay between infectious diseases and chronic conditions fuels the demand for cholera vaccines, driving market growth and innovation in vaccine development and distribution strategies.
Market Dynamics
Drivers:
- The increasing exploration of new oil fields and offshore operations is on the upswing.
- Increased awareness and education about Cholera Vaccines
Opportunities:
- Increasing Development of New Vaccines
- Investing in research and development of single-dose
Integration into national immunization programs
A prominent trend in the Cholera Vaccines Market is the integration of cholera vaccines into national immunization programs worldwide. As governments and health organizations increasingly recognize the burden of cholera and the efficacy of vaccination in controlling its spread, there is a growing emphasis on incorporating cholera vaccines into routine immunization schedules. By integrating cholera vaccination into national immunization programs, countries can ensure equitable access to vaccines, reach vulnerable populations, and strengthen their public health infrastructure to effectively combat cholera outbreaks. This trend reflects a strategic shift towards proactive disease prevention and underscores the importance of vaccination as a cornerstone of public health initiatives, ultimately driving market expansion and fostering global efforts to eradicate cholera.
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North America dominates the market for Cholera Vaccines Market.
North America, comprising the United States, Canada, and Mexico, is poised for substantial growth in the forecast period due to its advanced research infrastructure and the presence of key industry players driving novel cholera vaccine development. The region faces a significant rise in cholera cases globally, particularly in Mexico, where the recorded cases reached 45,000 from January to September 2022, intensifying the demand for cholera vaccines and propelling market expansion. Government initiatives further contribute to market growth; for instance, Health Canada updated guidelines in December 2021 to enhance infectious disease prevention and control, fostering awareness and increasing the demand for cholera vaccines.
Ongoing clinical studies, such as a successful phase I trial in the United States reported in May 2022, demonstrate the efficacy of MucoRice-cholera toxin (CTB) in inducing antibodies against cholera, highlighting the pivotal role of research in market development. In conclusion, the confluence of high cholera cases globally, government initiatives, and robust clinical studies is a driving force behind the growth of the cholera vaccines market in the North American region.
Torpedo Segments is anticipated to hold the Largest Market Share during the Forecast Period
Based on the Product segment categorized into Vaxchora, Dukoral, Shanchol and Other Products. Dukoral holds a major share in the Cholera Vaccines Market. This can be attributed to several factors. Dukoral has been widely used and accepted globally, with a well-established reputation for safety and efficacy. Additionally, Dukoral is available in both oral and injectable forms, providing flexibility in administration and catering to diverse population needs.
Moreover, Dukoral offers protection against not only cholera but also traveler's diarrhea caused by enterotoxigenic Escherichia coli (ETEC), enhancing its appeal for travelers and individuals in high-risk regions. Furthermore, Dukoral has been integrated into national immunization programs in several countries, facilitating widespread adoption and contributing to its dominant market position. Overall, the combination of effectiveness, versatility, and integration into immunization programs solidifies Dukoral's major share in the Cholera Vaccines Market.
Segmentations Analysis of Cholera Vaccines Market: -
- By Vaccine Type
- Whole cell V. cholerae O1 with Recombinant B-subunit
- Killed Oral O1 and O139
- By Product
- Vaxchora
- Dukoral
- Shanchol
- Other Products
- By End User
- Hospitals & clinics
- Research & Academic Laboratories
- Others
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Cholera Vaccines Market Report Gives Answers to Following Key Questions:
- What will be the Cholera Vaccines Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Cholera Vaccines Market?
- What are the main forces behind the worldwide Cholera Vaccines Market? Which companies dominate the Cholera Vaccines Market?
- Which companies dominate the Cholera Vaccines Market? Which business possibilities, dangers, and tactics did they embrace in the market?
- What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Cholera Vaccines Market?
- What are the main geographical areas for various industries that are anticipated to observe an astounding expansion in Cholera Vaccines Market?
- What are the dominant revenue-generating regions for Cholera Vaccines Market, as well as regional growth trends?
- By the end of the forecast period, what will the market size and growth rate be?
- What are the main Cholera Vaccines Market trends that are influencing the market's expansion?
- Which key product categories dominate the Cholera Vaccines Market? What are the Cholera Vaccines Market’s main applications?
- In the coming years, which Cholera Vaccines Market technology will dominate the market?
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