How Has the Malaria Vaccines Market Evolved Historically and What is its Current Size?
The malaria vaccines market has seen considerable growth due to a variety of factors.
• The value of the malaria vaccines market has seen substantial expansion in the past few years. It is projected to rise from $4.7 billion in 2024 to $6.3 billion in 2025, registering a compound annual growth rate (CAGR) of 34.0%.
The notable growth during the historical phase is due to factors such as the high impact of malaria, worldwide health campaigns, available funding and grants, malaria management initiatives, governmental support, and regulatory structures.
What is the Forecasted Market Size and CAGR for the Malaria Vaccines Market?
The malaria vaccines market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, significant expansion is projected for the malaria vaccines market. It is forecasted to reach a size of $20.65 billion in 2029, increasing at a compound annual growth rate (CAGR) of 34.5%.
The uptick for this period can be credited to global eradication objectives, broader access initiatives, enhanced vaccine coverage, worldwide vaccine partnerships, and the effect of climate change. Relevant trends for the forecast period encompass technological breakthroughs, collaboration between public and private sectors, international cooperation, and progress in vaccine technology.
What Key Factors and Trends Are Driving The Growth Malaria Vaccines Market?
The growth of the malaria vaccine market is projected to accelerate due to an upsurge in cases of mosquito-borne diseases. The range of diseases spread through infected mosquito bites are included in this category. The malaria vaccine, with RTS, S/AS01 (RTS, S) vaccine being especially effective, is utilized to inhibit and mitigate the repercussions of mosquito-transmitted ailments by priming the body's immune system to detect and combat the parasite. In November 2023, a report released by the World Health Organization, an intergovernmental organization based in Switzerland, stated that in 2022, there were an estimated 249 million global cases of malaria, which represented an increase of 5 million from 2021. Additionally, Pakistan saw a significant rise from 500,000 cases in 2021 to an estimated 2.6 million cases in 2022. Consequently, the escalating incidence of mosquito-related diseases is propelling the growth of the malaria vaccine market.
What Are The Market Segments In The Malaria Vaccines Market?
The malaria vaccines market covered in this report is segmented –
1) By Agent: Plasmodium Falciparum, Plasmodium Vivax, Anopheles Species
2) By Vaccine Type: Pre-Erythrocytic, Erythrocytic, Multi-antigen, Other Vaccines
3) By Route Of Administration: Intramuscular, Subcutaneous, Intradermal, Other Routes
4) By Distribution Channel: Public, Private
Subsegments:
1) By Plasmodium Falciparum: RTS,S/AS01 Vaccine, Other Experimental Vaccines
2) By Plasmodium Vivax: Candidate Vaccines In Development, Combination Vaccines
3) By Anopheles Species: Transmission-Blocking Vaccines, Vector Control Approaches
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How Are Emerging Trends Reshaping The Dynamics Of The Malaria Vaccines Market?
Leading corporations in the malaria vaccine market are stepping up their game by creating unique products like vaccines particularly for children's malaria to cater to more customers, boost sales, and grow revenue streams. These vaccines that safeguard against mosquito-transmitted diseases are prepared with immunological components. Specifically, they protect against Plasmodium falciparum, the most lethal malaria parasite worldwide predominantly found in Africa. As an illustration, the first children's malaria vaccine in Africa was launched in November 2022 in Malawi, an East African country, alongside the World Health Organization, an intergovernmental entity from Switzerland. The RTSS vaccine's uniqueness, created for young children, lies in its ability to potentially reduce fatalities caused by the mosquito-borne disease. Despite having a modest efficacy rate of 30%, it has sparked hope within the masses as it has been piloted on over a million children in Ghana, Kenya, and Malawi, promising to save lives among the 400,000 people who fall prey to malaria annually.
Who Are the Key Players In The Malaria Vaccines Market?
Major companies operating in the malaria vaccines market report are:
• Pfizer Inc.
• Ipca Laboratories Ltd.
• Novartis AG
• Sanofi SA
• GlaxoSmithKline Plc.
• Takeda Pharmaceutical Co Ltd.
• Hikma Pharmaceuticals PLC
• Amneal Pharmaceuticals LLC.
• Lupin
• Taj Pharmaceuticals Limited.
• Nobelpharma Co. Ltd.
• Bliss GVS Pharma Ltd.
• Sanaria Inc.
• Precigen Inc.
• AdvaCare Pharma
• CellFree Sciences
• Actiza Pharmaceutical Private Limited
• Sumaya Biotech
• VLP Therapeutics LLC
• GeoVax Labs Inc.
• Zydus Cadila
• Genvec Inc.
What Are The Regional Insights Into The Malaria Vaccines Market?
North America was the largest region in the malaria vaccines market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the malaria vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
