New Trends of Dengue Vaccine Market with Worldwide Industry Analysis to 2025
Albany, NY -- (SBWIRE) -- 09/22/2017 -- Dengue is a mosquito-borne infectious disease affecting humans and animals caused by dengue virus belonging to the Flaviviridae family and genus Flavivirus. Dengue is typically transmitted from human to human through the bite of an infected aedes aegypti mosquito. Symptoms of dengue include high fever, headache, fatigue, muscle pain, diarrhea, anemia, skin rashes and vomiting. Severe dengue can cause yellow skin, seizures, coma, or death. Dengue has high mortality rate and can cause various complications in the neurology. Dengue causes CNS manifestations which includes any degree of impaired consciousness, abnormal neurological signs, delirium, and focal and generalized convulsions. Causes of neurological manifestations in dengue are due to high-grade fever. A number of tests are available to confirm the diagnosis including detecting antibodies to the virus or it's RNA. Management of dengue is a challenge that is needed to be addressed. There are different causes underlying the clinical event of dengue for which multimodal and effective treatment approach is required. Among the effective treatments, vaccines are considered to be the best available precaution option for dengue. Several vaccines currently under clinical trial have shown promising effects, includes TVD, TV003, TV005, TVDV and TDENV. Expected approval for the vaccine TV003 (by Butantan Institute.) a live attenuated vaccine in the next few years is likely to drive the market
The global dengue vaccine market has been segmented based on product, distribution channel, and region. In terms of product, the market has been categorized into only one product i.e. CYD-TDV (Dengvaxia) because only one vaccine of Sanofi Pasteur is approved in the market. The product segment tend to show lucrative growth in the dengue vaccine market due to increasing incidence of dengue globally and effective way to avoid the virus causing dengue. Based on distribution channel, the market has been classified into hospital pharmacies, retail pharmacies, drug store, online pharmacies, and others. The hospitals pharmacies segment held the largest share of the market due to easy access for outpatient department (OPD) patients to buy medicines. Online pharmacies are likely to witness lucrative growth during the forecast period due to increasing online purchase by patients and various discounts offered by online stores.
Geographically, the dengue vaccine market has been segmented into five major regions: North America (U.S. and Canada), Europe (Germany, France, U.K., etc.), Asia Pacific (Australia, China, Japan, India, etc.), Latin America (Brazil, Mexico, etc.), and Middle East &Africa (GCC Countries, South Africa, etc.). North America is the leading market for dengue vaccine in terms of revenue, followed by Europe. The U.S. holds the largest share of the market in the region. Asia Pacific and Latin America are emerging markets, which are expected to witness strong growth during the forecast period from 2017 to 2025. Strong growth in these regions is attributed to increasing incidence of dengue, rising health care industries, and increase in government investment to develop health care infrastructure. The dengue vaccine market in countries such as China, India, and Brazil is projected to expand at high growth rate during the forecast period due to increase in awareness among the population about dengue disease and its treatment.
Other factors that drive the dengue vaccine market are rising prevalence of dengue, increasing novel drug treatment, convenience of direct purchase, affordability of vaccine, high adoption and acceptance in developing markets, and innovations and developments in vaccine. The market is also experiencing certain restraints such as stiff competition among existing players to develop new vaccine, high possibilities of side effect of vaccine, complications and severity involved in taking wrong medications due to misdiagnosis or incorrect self-diagnosis, and lack of awareness among the rural population in developing and underdeveloped economies.
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Major players operating in the dengue vaccine market include Sanofi Pasteur, Panacea Biotec, Biological E. Limited, GlaxoSmithKline plc, Merck & Co., Inc. and Takeda Pharmaceutical Company Ltd.