Introduction of novel cholera vaccines to drive the market during the forecast period
The global cholera vaccines market was valued at over USD 550.8 million in 2015 and is expected to grow at a CAGR of 9.7% over the forecast period. The growing demand for improvement of sanitation and water supply coupled with prevention of disease and other diarrheal diseases via vaccination are the major factors boosting the market growth.
Governments in various part of the world are striving to ensure good healthcare and social status of the population. The WHO is involved in implementation of “mass vaccination” as the public health strategy worldwide to protect against the risk of a fatal disease. The oral cholera vaccines are made available all over the world to ensure immunization against the disease, especially in the highly prone areas of Africa and Asia.
Multi-sectoral Cholera Prevention and Control Plan for 2011 to 2016 are implemented in Kenya in partnership with UNICEF for prevention against epidemic in the region. Moreover, in December 2012, the United Nations announced an initiative in Haiti and the Dominican Republic to eliminate the disease.
The percentage of coverage of worldwide immunization is steadily rising. For instance, as of June 2015, around 2 million doses of oral cholera vaccines were distributed worldwide, especially covering areas with elevated risk for the target disease.
Europe Cholera Vaccines Market By Product, 2013 - 2024 (USD Million)
Dukoral was the largest selling cholera vaccine in 2015
Various types of vaccines include the live attenuated, inactivated, toxoid, subunit, conjugate, and DNA. Cholera vaccines are majorly live attenuated ones available in oral dosage form with indication for single/double dose for full immunization against the target disease.
Two major brands prequalified by the WHO include Dukoral and Shanchol. The marketing authorization of Dukoral was granted in the European Union (EU) during April 2004. Shanchol was launched by Shantha Biotechnics in India during June 2009.
The presence of several pipeline drugs is expected to lead the growth of the market. Research and development (R&D) is ongoing with an objective to find more efficient forms. For instance, Phase II clinical trial is ongoing for novel form of vaccine named CholeraGarde (Celldex Therapeutics).
Moreover, the development of new and improved vaccinations for the target disease is another major factor projected to propel the growth of the sector. For instance, recently in June 2016, the U.S. FDA approved a single dose live attenuated, oral drug indicated for use in adults between of 18 and 64 years. The molecule is named as Vaxchora, which is marketed by PaxVax in the U.S.
Europe is the largest regional cholera vaccines market followed by Asia Pacific
European market is expected to reach an estimated value of over USD 336.55 million by 2024. The two major brands, Dukoral and Shanchol, are widely distributed across EU. Moreover, increasing prevalence of the target disease, government support for R&D in product portfolio, and company investment deployed for R&D targeted at development of novel and more efficient products are expected to drive the market growth. The established healthcare infrastructure in this region supports the wide immunization coverage.
High predominance of the target disease is identified majorly in the underdeveloped countries of South East Asia, sub-Saharan Africa, and Latin America. However, lack of healthcare infrastructure and access to immunization is expected to drive the market growth. Major risk factors for this disease include water source contamination, poor food safety, and migration of people.
Till 2016, no molecule for immunization against the target disease was approved by the U.S. FDA. However, in June 2016, PaxVax announced the launch of first oral product in the U.S. named Vaxchora. This is expected to be a promising molecule for immunization against the target disease in the U.S., which is responsible for the fastest market growth of this region.
The cholera vaccines market has moved toward consolidation with Valneva, Shantha Biotechnics Limited, and PaxVax holding dominant positions
Some key players of this sector include Valneva SE, Shantha Biotechnics Limited, and PaxVax. These companies are majorly focusing on business expansion to attain a higher market share via adoption of key strategies including mergers and acquisitions and new product development. For instance, in February 2015, European company named Valneva announced acquisition of Dukoral from Crucell Sweden AB.
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