(MENAFN- America News Hour) Global dengue vaccine market is expected to register a CAGR of 42% over the forecast period. Moreover, the global dengue vaccine market was valued at USD 70 Million in 2015 and is expected to reach at notable revenue of USD 399 Million by the end of 2020. The market is expected to expand on the back of favorable government initiatives and increasing prevalence of dengue infection across the globe. Additionally, introduction of very first dengue vaccine Dengvaxia (CYD-TDV) by Sanofi Pasteur in 2015 fostered the expansion of dengue vaccine market.
The global dengue vaccine market is segmented into end-user type such as government institutions and private institutions. Among these segments, government institutions segment is expected to occupy the top position in the market during the forecast period. The rise of the government institution segment is backed by favorable government initiatives and programs to provide Dengue Vaccines to the population at affordable price. Further, increasing number of patients suffering from dengue infection and improving healthcare infrastructure are major factors which are escalating the growth of dengue vaccine market across the globe.
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The Asia Pacific segment by region is likely to grow at a remarkable pace during the forecast period. Increasing prevalence of dengue diseases, increasing spending by government for development of healthcare infrastructure are some of the major factors which are likely to drive the growth of Asia Pacific dengue vaccine market in near future.
Favourable government initiatives and programmes
Dengue vaccine programs by governments are fueling the demand for dengue vaccines across the globe. The Philippine government hosted public dengue immunization program in 2016. In event, more than 1 Million public school children vaccinated shared with both international and national press.
Although, serious medical conditions that goes unnoticed in many cases and lack of proper medical facilities and healthcare infrastructure in under developed countries are some of the factors that are likely to inhibit the growth of the dengue vaccine market in the near future.
Development of Dengue Vaccines
According to world health organization, more than 40% of world population is at risk of dengue infection. Further, increasing occurrence of dengue infection around the world and number of deaths due to dengue across the globe especially in Asia Pacific countries are major factors which are fuelling the demand for effective medical solution for prevention and cure of dengue infections. Development of new vaccines such as Dengvaxia (CYD-TDV) by Sanofi Pasteur,is expected to be the major driving factor of dengue vaccine market over the forecast period.
The report titled ' Global Dengue Vaccine Market Analysis & Opportunity Outlook 2021 ' delivers detailed overview of the global dengue vaccine market in terms of market segmentation by end-user type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
This report also provides the existing competitive scenario of some of the key players of the global dengue vaccine market which includes company profiling:
Sanofi Pasteur,Takeda Pharmaceutical company Ltd, Glaxosmithkline Plc, Merck & Co Pharmaceutical company Ltd, DENVax, U.S NIH, Instituto Butantan(Brezil) and Vabiotec (Vietnam).
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Global Dengue Vaccine Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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