Cholera Vaccines Market size is projected to experience significant growth from 2019 to 2025.
Cholera is one the most prevalent epidemic infectious diseases caused by the bacterium vibrio cholera. It causes severe watery diarrhea requiring instant treatment as it may lead to death. According to the World Health Organization (WHO), in 2019, nearly 21,000 to 1,43,000 individuals died from cholera globally. Also, nearly 1.3 million to 4.0 million cases of cholera are registered every year globally. Thus, the growing incidence of cholera will create significant demand for cholera vaccines over the estimated period.
Cholera is caused by the consumption of contaminated food and water. Hence, lack of proper sanitation and clean water upsurges the risk of people suffering from cholera. According to the World Health Organization (WHO), nearly 2.0 billion people do not have basic hygiene facilities and approximately 10% of global population consume food irrigated by wastewater. Increasing incidence of causative factors will support the demand for vaccination against cholera thus, rising the coverage of immunization globally and further aiding cholera vaccine market growth over the forthcoming years.
However, high cost of cholera vaccine resulting in unaffordability for patients in the developing and under-developed economies will the hinder market growth. Furthermore, adverse effects including injection site reactions and hardening of the skin may restrain the demand of cholera vaccine in the upcoming period.
Vaxchora segment is projected to witness lucrative growth over the analysis timeframe due to its advantages such as single dose active immunization and reduced adverse effects. Vaxchora, a live attenuated, oral suspension vaccine, is the first and only cholera vaccine approved by the U.S.FDA for the prophylaxis of cholera infection. Adverse effects from Vaxchora are uncommon and may include headache, tiredness, abdominal pain, nausea, and vomiting. It is further indicated for use in adults between 18 and 64 years of age travelling to cholera-affected areas. The above-mentioned reasons will boost the segmental growth over the projected timeframe.
U.S. cholera vaccines market is expected to foresee lucrative growth over the forthcoming years owing to the launch of first oral cholera vaccine (OCV), Vaxchora in the U.S. and the rise in demand for immunization. According to the Center for Disease Control and Prevention (CDC), Vaxchora reduces the chance of severe diarrhea in individuals by nearly 90% in 10 days post-vaccination and by 80% in 3 months after vaccination. Several government programs such as oral cholera vaccination campaigns will further spur the industry growth.
India cholera vaccines market is anticipated to grow at a robust rate over the forecast period. Rising incidence of cholera will escalate the importance of immunization in India. Environmental sanitation is a major public concern leading to growing prevalence of cholera in India. Thus, inadequate health and environmental sanitation facilities elevates the demand for immunization, further aiding the industry growth. Furthermore, rise in healthcare spending and surge in awareness about the cholera preventive care will accelerate the India cholera vaccines market growth over the coming years.
Some of the major players operating in the global cholera vaccines market include Astellas Pharma, Valneva SE, Eubiologics, and Emergent BioSolutions, among other players. These industry players implement various strategies such as mergers & acquisitions, partnerships, collaborations, and new product launch to enhance company’s profitability and growth. For instance, in February 2015, Valneva acquired Crucell Sweden AB, a biotechnology company specialized in vaccines and biopharmaceutical technologies. Valneva acquired all the assets, privileges and licenses associated with Dukoral, a vaccine that prevents cholera leading to company’s product portfolio expansion and consolidation of company’s position in the market.
Cholera Vaccines Market by Product, 2014-2025 (USD Million)
The above information is provided for the following regions and countries: