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SOURCE Coherent Market Insights
SEATTLE, April 20, 2017 /PRNewswire/ --
According to the report "Global Malaria Vaccines Market, By Vaccines Type (Pre-Erythrocytic Vaccine, Erythrocytic Vaccine, Multi-antigen Vaccine), Agent (Plasmodium Falciparum, Plasmodium Vivax), Distribution Channel (Hospitals, Clinics, Community Centers), and Geography - Insights, Opportunity Analysis, and Industry Forecast till 2024", the market is pegged to be valued at US$ 8.5 million in 2018 and is projected to expand at a CAGR of 102.8% during the forecast period (2018-2024), as published by Coherent Market Insights.
Rise in demand for vaccines for important indications on the backdrop of increasing focus on biological preparations is expected to be a major factor driving growth of the global malaria vaccines market over the foreseeable future.
According to World Health Organization (WHO) malaria fact sheet and World Bank estimates, over 40% of the global population is at risk of malaria. World Health Organization (WHO), there were around 214 million malaria cases reported in 2015, leading to 438,000 deaths worldwide. Over 70% of these deaths were among children under 5 years of age. Sub-Saharan Africa accounts for the highest share of global malaria burden, with around 89% of malaria cases and 91% of malarial deaths in 2015. Such high impact of this life-threatening disease is influencing governments across various countries, companies, investors, and non-profit organizations to contribute towards curbing spreading of this disease. Since the problem of malaria is burdening many of the emerging and under developed regions such as in Africa and Asia Pacific, various initiatives have been implemented in these regions to drive down high costs of the vaccine in development. For instance, in 2016, GSK announced plans to develop vaccines at a mere profit margin of 5% of the cost of the vaccine. Governments across most regions are actively involved in programs aimed at eliminating malaria. For instance, WHO had mobilized funding for pilot program in first phase between 2017 and 2020 by the global fund to fight against malaria and other disease such as AIDS and tuberculosis prevalent worldwide.
Shift from pharmaceutical oral dosage forms to parenteral dosage forms is expected boost the malaria vaccines market globally. The emerging economies are undergoing a wave of various healthcare reforms. Healthcare treatment regimens are becoming more reliable for the growth of the global market, with various initiatives in place to eradicate the menace of malaria. In 2016, in India, the National Framework for Malaria Elimination (NFME), was launched to eliminate the problem in the country. This program was based on the Framework by the National Vector Borne Disease Control Program (NVBDCP) of the Ministry of Health and Family Welfare. According to NFME, in 2012, the total economic burden of malaria in India was around US$ 1,940 Mn, with 75% from lost earnings and 25% from treatment costs borne by households.
To know the latest trends and insights prevalent in the Malaria Vaccines Market, click the link below:
According to World Malaria Report 2015, India accounts for around 70% of the total malaria incidence rate in the South-East Asia. In 2014, the incidence rate of malaria in the country was around 0.89 per 1,000 person at risk per year. Around 1.1 Mn cases were reported, which lead to 562 deaths in India in 2014.
Key takeaways of the malaria vaccines market:
*Similar cross sectional analysis is provided for Other Countries covered as a part of this report
"*" marked represents similar segmentation in other categories in the respective section.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Our global team of over 100 research analysts and dedicated consultants provide market intelligence from the very molecular country level and also provide a global perspective of the market.
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