Newark, March 20, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 264 million in 2022 chikungunya vaccine market will reach USD 624.98 million by 2032. The outbreak of chikungunya is isolated to a few regions, and the cases are rare compared to the global average of other viruses or diseases. However, most regions where the diseases are prevalent have a perennial insufficiency of proper healthcare infrastructure. The disease can be managed with over-the-counter medications. However, proper primary and follow-up hospital care can aggravate the disease burden. For instance, joint pain caused by chikungunya can last for weeks, months, or even years. It affects the quality of life given the chronic pain. This chronic condition adds to the disease burden. This type of arthritis is known as chronic chikungunya. Around 40% of persons who contract the virus are affected by this chronic condition. Therefore, it becomes imperative to develop and administer the chikungunya vaccine to reduce disease burden and deliver a quality of life and overall wellbeing for citizens.
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Key Insight of the global chikungunya vaccine Market
Asia Pacific is expected to grow significantly during the forecast period.
With the prevalence of vector-borne diseases in the region, the Asia Pacific market is anticipated to make substantial advancements over the forecast period. The market will develop due to the positive government activities to lower disease burden, particularly vector-borne diseases, through preventative, corrective, and therapeutic measures. The presence of large market participants in the area will also aid the development of the industry. The regional market expansion is aided by the government's growing support for vaccine research and development.
In 2022, the live-attenuated virus vaccines segment dominated the market with the largest market share of 48% and market revenue of 126.72 million.
The product technology segment is divided into live-attenuated virus vaccines, inactivated viral vaccines, chimeric-alphavirus candidates, recombinant viral vaccines and others. In 2022, the live-attenuated virus vaccines segment dominated the market with the largest market share of 48% and market revenue of 126.72 million.
In 2022, the paediatric segment dominated the market with the largest market share of 45% and market revenue of 118.80 million.
The age group segment is divided into paediatric, adult and geriatric. In 2022, the paediatric segment dominated the market with the largest market share of 45% and market revenue of 118.80 million.
In 2022, the research laboratories segment dominated the market with the largest market share of 85% and revenue of 224.40 million.
The end user is divided into hospital pharmacies, research laboratories, retail pharmacies and others. In 2022, the research laboratories segment dominated the market with the largest market share of 85% and revenue of 224.40 million.
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Advancement in market
February 2023 - Vaccine business Bavarian Nordic has agreed to buy Emergent BioSolutions' portfolio of travel immunizations for up to USD 380 million. With the acquisition, Bavarian Nordic will have access to two travel vaccines currently on the market, a late-stage vaccine candidate, and research, development, manufacturing, and commercial capabilities. Vivotif for the prevention of typhoid fever, Vaxchora for the prevention of cholera, and a phase 3 vaccine candidate for the prevention of the chikungunya virus are the vaccines covered by the agreement. A fully integrated vaccinations firm, Bavarian Nordic is dedicated to developing, producing, and marketing life-saving vaccines.
Market Dynamics
Driver: Growing unmet medical needs in low- and middle-income nations in Asia and Africa
Given the optimal conditions of warm temperatures and copious amounts of precipitation, the nations near the equator and in the tropics serve as mosquito breeding grounds. Due to its location, Africa's population is particularly susceptible to diseases like malaria and chikungunya. Many die from these diseases due to poor healthcare infrastructure and environmental circumstances. The persistence of rare chikungunya outbreaks in these nations is partly caused by the absence of preventive measures to control the mosquito population, clean and sanitary public utilities, adequate messaging, and awareness about the disease. The insufficient infrastructure for healthcare services for diagnosis, treatment, and aftercare also increases the burden of chikungunya deaths. Similarly to that, some countries in the Asia-Pacific have frequent chikungunya outbreaks as a result of their geographic position and subpar healthcare infrastructure. The federal governments of the area and numerous international organizations place a high focus on the creation of a vaccine to stop these outbreaks and fatalities. As a result, considering the frequent outbreaks of diseases in Asia and Africa, the unmet and growing demand for the chikungunya vaccine will propel the expansion of the global market.
Restraint: The lack of a validated commercially available chikungunya vaccine
Many governmental and private players are involved in researching and developing the chikungunya vaccine. But each of these vaccinations is still in the early stages of development. There is currently no chikungunya vaccine with proven efficacy in humans. Also, the lack of chikungunya and other vector-borne infections in industrialized nations contributes to the lack of focus and the low priority placed on creating a vaccine for the disease. Antiviral medications on the market are an effective way to treat current symptoms. The rarity of the disease, low incidence, and localized outbreaks lessen the urgent need for vaccination. The disease doesn’t spread quickly, which directs attention to more virulent and severe viruses like coronaviruses. As a result, the market's expansion will be hampered by the lack of a commercially available and validated chikungunya vaccine.
Opportunities: The effective government programmes targeted at reducing the chikungunya burden
Improving the performance of the human development index becomes essential as countries grow and move towards higher per capita income and GDP. With increasing public awareness, the significance of fulfilling the sustainable development goals of excellent health and wellbeing for every citizen has grown. All levels of national, state, and municipal government, as well as multilateral international forums and organizations, are working to ensure that every citizen is in excellent health and wellbeing. The world community has numerous health objectives, including eradicating diseases like chikungunya. The governments have established federal institutions to investigate the prevalence of these diseases, suggest preventive, corrective, and therapeutic actions, and regulate monitor, and control stakeholder interests. A good example is the National Vector Borne Disease Control initiative of the Indian government. Every government and health organization has chikungunya vaccine development on their priority list. The favourable government actions will provide lucrative chances for the global market for chikungunya vaccines in terms of a greater push for research and development of the vaccine, providing more funds for research on the disease.
Challenge: The strict governmental approvals
In the interest of public health and safety, certain standards, certification, and approval procedures must be followed during the study, development, and implementation of any vaccination. Governments worldwide have national institutions similar to the FDA in the USA to authorize, regulate, oversee, and supervise the delivery of pharmaceuticals, vaccines, and other medications. This is a delicate area that, if not carefully examined and checked by the appropriate authorities, could harm millions of people. Hence, the growth of the global market for chikungunya vaccines will be hampered by strict regulatory clearances.
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Some of the major players operating in the global chikungunya vaccine market are:
• AstraZeneca plc
• Auro Vaccines LLC
• Bharat Biotech International Limited
• Emergent BioSolutions Inc.
• Moderna Inc.
• Pfizer Inc.
• Serum Institute of India Pvt. Ltd.
• Takeda Pharmaceutical Company Limited
• Themis Bioscience GmbH
• Valneva SE
Key Segments cover in the market:
By Product Technology
• Live-Attenuated Virus Vaccines
• Inactivated Viral Vaccines
• Chimeric-Alphavirus Candidates
• Recombinant Viral Vaccines
• Others
By Age Group
• Paediatric
• Adult
• Geriatric
By End User
• Hospital Pharmacies
• Research Laboratories
• Retail Pharmacies
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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