According to the latest market report published by Credence Research, Inc. “Cholera vaccines Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global cholera vaccines market was valued at US$ 51.3 Mn in 2016, and is expected to reach US$ 234.5 Mn by 2025, expanding at a CAGR of 15.8% from 2017 to 2025.
Browse the full report Cholera vaccines Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 at http://www.credenceresearch.com/report/cholera-vaccines-market
According to World Health Organization (WHO), there are roughly 1.3 to 4.0 million cholera cases, and 21,000 to 143,000 deaths worldwide each year due to cholera. The burden of cholera remains high globally, particularly in developing countries in Asia and Africa. Cholera prevention and treatment protocols are well established; government initiatives in immunization program is prime factor driving the market growth of cholera vaccines globally. For the purpose of study, the cholera vaccines market is segmented on the basis of product type such as Dukoral, Shanchol, Vaxchora and others; it is estimated that Vaxchora would grow significantly during forecast period because Vaxchora is the only vaccine available in the United States for protection against cholera and the only single dose vaccine for cholera currently licensed anywhere in the world. Centers for Disease Control and Prevention’s (CDC) and Advisory Committee on Immunization Practices (ACIP) recommended the use of Vaxchora in 18 to 64 years of age adults.
North America is expected to grow significantly during forecast period due to government initiatives in treatment and awareness program, higher cost of product and extensive research and development activities are driving the market growth in North America. Centers for Disease Control and Prevention (CDC) recommendation for travelers to cholera-affected regions would assist the market growth in United States. However, Asia Pacific currently dominating the market due to higher number of affected population, rising healthcare awareness and government initiatives in immunization program are fueling the market growth in Asia Pacific.
Market Competition Assessment:
The cholera vaccines market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as Astellas Pharma, Inc., PaxVax, Sanofi, Valneva, Eubiologics and other.
Key Market Movements:
– Factors such as increasing prevalence of cholera in Asia and Africa, extensive government initiative in immunization program, research and development activities in development of vaccines are expected to drive the growth of cholera vaccines market globally.
– Vendors in the market are focusing on innovation and technological advances in developing ideal and cost effective cholera vaccine, this would further assist the growth of cholera vaccines market globally.
– However, some factors such as lower healthcare awareness in some countries, may negatively impacting the growth of cholera vaccines market globally.