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Cholera Vaccine Market to Reach $207 Mn, Globally, by 2025 at 15.6% CAGR: Allied Market Research
PORTLAND, Oregon, March 4, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Cholera Vaccine Market by Product (Dukoral, Shanchol, Vaxchora, Euvichol & Euvichol-Plus, and others) and End User (Hospitals & Clinics, Research & Academic Laboratories, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025." The report provides a detailed analysis on changing market trends, drivers & opportunities, key segments, market size & estimations, and competitive scenario. According to the report, the global cholera vaccine market contributed nearly $65 million in 2017 and is expected to reach $207 million by 2025, registering a CAGR of 15.6% from 2018 to 2025.
Lack of proper sanitation, increase in awareness regarding preventive care for cholera, and development of innovative approaches for cholera vaccine drive the growth in the market. However, time taken for regulatory approvals and risks related to adverse effects restrain the market growth. On the other hand, opportunities in emerging economies create new pathways in the industry.
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Dukoral to maintain its dominant share by 2025
Dukoral contributed the highest market share of nearly half of the total market in 2017 and is expected to maintain its dominant share by 2025. This is due to the established pile of the oral cholera vaccine by the World Health Organization (WHO) and rise in the number of travelers to the low- and middle-income countries (LMICs). However, Vaxchora is expected to register the highest growth rate, with a CAGR of 17.2% from 2018 to 2025, owing to its benefits such as single dose immunization, reduction in adverse effects, and high efficacy rate for prevention of cholera.
Hospitals and clinics to maintain its lead status throughout the forecast period
Hospitals and clinics accounted for nearly three-fifths of the total market share in 2017 and will maintain its lead status throughout the forecast period. This is due to increase in the incidences of cholera, demand for immunization, the availability of highly-skilled and qualified professionals in the hospitals, and preference of patients. However, the research & academic laboratories segment is expected to grow at a CAGR of 16.4% during the forecast period, owing to surge in demand for cholera vaccine across the globe for more effective and cost efficient cholera vaccines.
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North America to grow fastest
North America is expected to grow at the highest growth rate, with a CAGR of 15.4% from 2018 to 2025, owing to the launch of Vaxchora, the first and only oral cholera vaccine in the U.S. and the increase in immunization. However, Asia-Pacific contributed nearly two-fifths of the total market share in 2017 and will lead throughout the forecast period. This is due to rise in prevalence of cholera disease in low-and middle-income countries leading to the increase in importance of immunization, surge in healthcare spending, and upsurge in awareness regarding cholera preventive care.
Frontrunners in the industry
Leading market players discussed in the research include Valneva SE, Astellas Pharma, Inc., Emergent BioSolutions, Inc. (PaxVax, Inc.), Eubiologics Co., Ltd., Sanofi (Shantha Biotechnics Private Limited), Johnson & Johnson (Crucell), and Celldex Therapeutics, Inc.
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