Global malaria vaccines market, by Agent (Plasmodium Falciparum, Plasmodium Vivax and Anopheles Species), by Vaccine Type (Pre-Erythrocytic, Erythrocytic and Multi-antigen), by Distribution Channel (Public and Private) and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa) is estimated to be valued at US$ 41.08 Mn in 2022 and is expected to exhibit a CAGR of 29.6%during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Key trends in market include increasing awareness of malaria which is expected to drive the growth of global malaria vaccines market over the forecast period. For instance, in April 2022, The Union Health Ministry in India organized malaria awareness campaigns and events across the nation on the occasion of World Malaria Day.
Global Malaria Vaccines Market– Impact of Coronavirus (COVID-19) Pandemic
The supply of raw materials required for production of pharmaceuticals has been severely disrupted due to the forced quarantine and lack of labor during the COVID-19 pandemic. As the link between regional warehouses is not smooth, transportation of raw materials between regions cannot be carried out successfully. This shortage of raw materials and components have negatively affected the supply chain of the malaria vaccine market. Moreover, according to data published by World Health Organization in December 2021, the COVID-19 pandemic had disrupted services to combat malaria, leading to a marked increase in cases and deaths due to malaria. According to WHO’s latest World malaria report, there were an estimated 241 million malaria cases and 627,000 malaria deaths worldwide in 2020. This represents about 14 million more cases in 2020 compared to 2019, and 69,000 more deaths. Approximately two-thirds of these additional deaths (47 000) were linked to disruptions in the provision of malaria prevention, diagnosis and treatment during the pandemic. Thus, The COVID-19 pandemic had a negative economic impact on the global malaria vaccine market.
Browse 28 Market Data Tables and 32 Figures spread through 166 Pages and in-depth TOC on “Global Malaria Vaccines Market”- Forecast to 2030, Global Malaria Vaccines Market, Global Malaria Vaccines Market, by Agent (Plasmodium Falciparum, Plasmodium Vivax and Anopheles Species), by Vaccine Type (Pre-Erythrocytic, Erythrocytic and Multi-antigen), by Distribution Channel (Public and Private) and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa)
To know the latest trends and insights prevalent in the Malaria Vaccines Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/malaria-vaccines-market-37
Moreover, key players operating in market are manufacturing malaria vaccine which is also expected to aid in growth of the global malaria vaccines market over the forecast period. For instance, In October 2021, Bharat Biotech, an India-based multinational biotechnology company announced to produce the world's first RTS,S/AS01 (RTS,S) malaria vaccine approved by the World Health Organization (WHO) against the mosquito-borne illness that causes death of over 400,000 individuals each year, primarily African children.
Key Takeaways of the Global Malaria Vaccines Market:
- Global malaria vaccines market is expected to exhibit a CAGR of 29.6% during the forecast period due to increasing funding for malaria vaccine programme which is expected to boost growth of market. For instance, in December 2019, The Roll Back Malaria (RBM) Partnership to End Malaria is the largest global platform for coordinated action towards a world free from malaria, accepted decision by Gavi, the vaccine alliance to fund a new malaria vaccine programme which will support countries to implement the newly approved RTS,S malaria vaccine for children under 5 year of age in Africa. The deployment of RTS,S as a complementary pediatric malaria prevention tool, used in combination with other proven tools, is an important addition to the combat malaria.
- Among End User, Public segment is estimated to exhibit highest CAGR in global malaria vaccines market over the forecast period owing to government initiatives for malaria vaccine. For instance, in April 2019, The World Health Organization (WHO) had announced that the Government of Malawi had immunized the first children with RTS,S/AS01 (RTS,S), the world’s first malaria vaccine. This move is part of a WHO-coordinated three country pilot programme, which will also include Ghana and Kenya, where the risk of malaria is high and there has been previous success with other childhood vaccines. It aims to reach 360,000 children per year across the three countries.
- On the basis of region, Africa is estimated to exhibit largest market share in the global malaria vaccines market over the forecast period, owing to increasing prevalence of malaria. For instance, according to data published by World Health Organization in April 2022, the WHO African region carries a disproportionately high share of the global malaria burden. In 2020, Africa was home to 95% of malaria cases and 96% of malaria deaths. Children under 5 accounted for about 80% of all malaria deaths in the Region
- Major players operating in the global malaria vaccines market are GlaxoSmithKline, Nobelpharma, Sanaria, CellFree Sciences, VLP Therapeutics LLC, Sumaya Biotech, BioNTech, and Precigen, Inc.
