Oral Typhoid Vaccine Market Is Estimated To Witness High Growth Owing To Increasing Incidences of Typhoid Fever

 

Oral Typhoid Vaccine Market
Oral Typhoid Vaccine Market



The global Oral Typhoid Vaccine Market is estimated to be valued at US$ 394.62 Billion in 2023 and is expected to exhibit a CAGR of 12.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The Oral Typhoid Vaccine market refers to the market for a vaccine that is administered orally to prevent typhoid fever, a bacterial infection caused by Salmonella typhi. This vaccine is highly effective in preventing typhoid fever and offers several advantages over the injectable vaccine, such as ease of administration and reduced pain. The need for oral typhoid vaccines arises due to the increasing incidences of typhoid fever globally, especially in developing countries with poor sanitation and hygiene practices. The market for oral typhoid vaccines is driven by the growing awareness about preventive healthcare, rising government initiatives to control the spread of infectious diseases, and the increasing demand for safe and effective vaccines.

Market Key Trends:

One key trend in the Oral Typhoid Vaccine market is the increasing adoption of vaccine combination products. Combination vaccines, which offer protection against multiple diseases in a single dose, are gaining popularity among healthcare professionals and patients alike. The combination of oral typhoid vaccine with other vaccines, such as hepatitis A and B vaccines, has proven to be effective in preventing multiple diseases simultaneously. This trend is driven by the convenience and cost-effectiveness of combination products, as they reduce the number of vaccinations required and improve patient compliance. Moreover, the development of new combination vaccines with improved efficacy and safety profiles is expected to further fuel market growth.

PEST Analysis:

Political: The political factors influencing the oral typhoid vaccine market include government regulations and policies regarding vaccine development and distribution. For example, regulations on the safety and efficacy of vaccines may impact the market. Additionally, government funding and support for vaccine research and immunization programs can also affect the market.

Economic: Economic factors that play a role in the oral typhoid vaccine market include the overall economic growth and stability of countries, as well as the willingness and ability of individuals and governments to invest in healthcare and vaccination programs. Rising disposable incomes and increased healthcare spending can drive demand for vaccines.

Social: Social factors influencing the market include the prevalence of typhoid in different regions, the awareness and understanding of vaccines among the population, and cultural beliefs and attitudes towards vaccination. Factors like disease outbreaks and education campaigns can impact vaccine acceptance and uptake.

Technological: Technological advancements in vaccine development, production, and distribution can have a significant impact on the oral typhoid vaccine market. Innovations such as new vaccine platforms, cold chain storage improvements, and faster production methods can expand access to vaccines and increase efficiency.

Key Takeaways:

The global oral typhoid vaccine market is expected to witness high growth, exhibiting a CAGR of 12.3% over the forecast period of 2023-2030. This growth can be attributed to increasing awareness about the importance of vaccination, rising healthcare spending, and technological advancements in vaccine development.

Regionally, Asia-Pacific is expected to be the fastest-growing and dominating region in the oral typhoid vaccine market. The region has a high burden of typhoid cases, especially in countries with poor sanitation and hygiene conditions. Growing populations, increasing government focus on immunization programs, and rising healthcare investments contribute to the region's market dominance.

Key players operating in the oral typhoid vaccine market include Sanofi Pasteur, Bharat Biotech, Pfizer Inc., GlaxoSmithKline (GSK), Baxter International Inc., Merck & Co., Inc. (MSD outside North America), Takeda Pharmaceutical Company Limited, Novartis International AG, Biological E. Limited, AstraZeneca, Cipla Limited, Prokarium, Bio-Med Pvt. Ltd., Panacea Biotec, Dynavax Technologies Corporation, Butantan Institute, Zydus Cadila, Biomed Pvt. Ltd., Cadila Healthcare Limited, and GlaxoSmithKline Biologicals. These key players contribute to the research, development, production, and distribution of oral typhoid vaccines worldwide.

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