The Dengue Vaccine Market U Set To Reach $1.02 Billion By 2028 At A CAGR Of 12.3%
Dengue Vaccine Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The Dengue Vaccine Global Market is projected to undergo swift expansion in the foreseeable future, catapulting its current value from $0.57 billion in 2023 to an impressive $0.64 billion in 2024. Aiding this growth is a robust compound annual growth rate CAGR of 12.0%. Progress during the historic period can be linked to several key drivers, including increased travel and urbanization, growing demand for efficacious vaccines, and an elevated prevalence of foreign travel exposure. Additionally, improvements in healthcare services and surging mass vaccinations have also contributed significantly to the market size.
How is the dengue vaccine market size set to grow in the coming years?2
Looking further ahead, the dengue vaccine market size is slated to continue its rapid growth trajectory for the next few years. Forecasted to soar to a worth of $1.02 billion by 2028, it enjoys a continuously strong CAGR of 12.3%. This expected surge is tied to several key factors, such as an increasing incidence of dengue, escalating initiatives by health organizations, a growing number of clinical trials, and an intensifying focus on multi-strain and tetravalent vaccine formulations.
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Concurrently, we will witness several noteworthy trends in the forecast period. Among these are the rising demand for preventative vaccines, advancements in vaccine technology, the development of combination vaccines, an increase in research and clinical trials for new vaccine candidates, and a concentrated focus on enhancing vaccine efficacy and safety profiles.
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What Is Driving Growth In The Dengue Vaccines Market?3
The increasing prevalence of dental disorders is anticipated to drive forward the growth of the dental bone fixation kits market. Dental disorders encompass a wide range of conditions affecting the teeth, gums, and other parts of the mouth. If left untreated, these conditions can escalate from manageable discomforts to serious health issues, potentially leading to tooth loss, gum damage, and significant systemic health problems. Factors contributing to a rise in dental disorders include inadequate oral hygiene, dietary habits, limited awareness, and restricted access to dental care. In response, dental bone fixation kits are employed to stabilize and support fractured or compromised dental structures, paving the way for proper healing and restoration. To provide context, in August 2023, the 2022–23 Annual Report released by the National Health Service detailed that NHS dentists treated 16.4 million adults and 5.6 million children in the 12 months leading up to June 30, 2022. Building on this trend, an impressive 26.4 million courses of treatment were provided in 2021–22 — a sharp increase of 120.0% from the previous year.
Centrally, major companies operating in the dengue vaccine market are turning their sights to developing advanced vaccine formulations. A notable development is the dengue tetravalent vaccine, which offers enhanced protection against all four dengue virus serotypes in a single formulation. A case in point is Takeda Pharmaceutical Company. In December 2022, this Japan-based pharmaceutical company received approval from the European Commission EC to use the QDENGA vaccine on individuals aged four years and older. This live-attenuated vaccine, utilized in numerous dengue-endemic countries to protect against dengue fever, is administered in two doses. Targeting individuals aged four years and older, QDenga has demonstrated an efficacy rate of 80.2% against dengue, with strong results in preventing hospitalizations.
How Is The Dengue Vaccines Market Segmented?
The dengue vaccine market comprises numerous segments:
1 By Type: Live Attenuated Vaccine, Chimeric Live Attenuated Vaccine, Inactivated Vaccine, Subunit Vaccine, Nucleic Acid-Based Vaccine
2 By Vaccine Phase: Phase I, Phase II, Phase III
3 By Treatment: Diuretic, Anti-Allergic, Blood Thinners, Other Treatments
4 By Route Of Administration: Oral, Parenteral, Other Routes Of Administration
5 By End-User: Hospitals, Clinics, Government Institutes, Non-Governmental Organizations, Other End-Users
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