The Encephalitis Vaccines market is projected to grow with a CAGR of 5.2% over the forecast period. The major factor attributing to the growth of the market is the high mortality and morbidity rate caused due to the incidence of encephalitis virus. Furthermore, increasing government initiatives for vaccination programs is boosting the market. For instance, According to the Center for Vaccine Innovation and Access, the Japanese encephalitis(JE) vaccine program of India has been a huge success. As of mid-2018, coverage of routine JE immunization in the districts with the vaccine is estimated at 65 percent. Since 2006, approximately 156 million Indian children have been vaccinated against JE, and India continues to self-fund the vaccination program using the affordable CD-JEV vaccine. An additional 38 districts have joined to conduct JE vaccination campaigns in 2018 and 2019. However, the side effects of the vaccine and the challenges of the vaccine constraints the market growth.
Key Market Trends
Japanese Encephalitis Segment is Dominating the Encephalitis Vaccines Market
The Japanese encephalitis vaccine segment is estimated to grow at a significant rate over the forecast period. According to WHO, the estimated annual number of clinical cases of JE are about 68000 globally every year. Furthermore, the government initiatives for the JE vaccination programs is further boosting the segment. Governments of China and India came up with national immunization plans that carry out mass vaccinations. In 2014, vaccination against Japanese encephalitis was added to India’s Universal Immunization Programme, which resulted in a significant procurement of vaccination doses since then. Such initiatives are gaining pervasiveness in other Asian countries such as Thailand, Malaysia, and the Philippines. The marketing is witnessing strong demand for JE vaccines due to routine immunization. Therefore, the inclusion of vaccination against Japanese encephalitis in national immunization plans will act as one of the significant growth drivers for the Japanese encephalitis vaccine segment during the forecast period.
Asia-Pacific Grows With Highest CAGR and Expected to do Same in the Forecast Period
The market in Asia will grow exponentially over the forecast period. Japanese encephalitis is endemic mostly in Asian countries. There is no cure for the disease. Therefore, organizations such as UNICEF, WHO, and Gavi are focusing on preventing the disease from spreading through vaccination. To ensure maximum immunization, the JE vaccines has been made mandatory for newborn children. This will provide incredible opportunities for the manufacturers catering to the region. Furthermore, growing investment in the R&D sector, entry of new vaccine manufacturers in countries like India and China, increase number of travelers in the region, medical tourism is propelling the market growth in the region.
Competitive Landscape
The Encephalitis Vaccines market is moderately competitive and consists of several major players. Strong manufacturing processes and significant investments in releasing improved vaccines in BRICS countries are the opportunities in the market. Some of the companies which are currently dominating the market are Valneva SE., Bharat Biotech, BIKEN, Chengdu Institute of Biological Products Co., Ltd., Liaoning Cheng Bio Co., Ltd., GlaxoSmithKline Plc, Sanofi Pasteur, Tiantan Biological Product, Zhejiang Tianyuan Bio-Pharmaceutical.
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Valneva SE.
- Bharat Biotech
- BIKEN
- China National Pharmaceutical Group
- Liaoning Cheng Bio Co., Ltd.
- Glaxosmithkline Plc
- Sanofi Pasteur
- Tiantan Biological Product
- Zhejiang Tianyuan Bio-Pharmaceutical
Methodology
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