Typhoid fever vaccines help prevent typhoid fever, a bacterial infection caused by Salmonella Typhi. There are two types of typhoid vaccines available – live, oral vaccines and injectable vaccines. The oral vaccines use a weakened form of the Salmonella Typhi bacteria to build immunity. The injectable vaccines contain killed typhoid bacteria to produce antibodies. Typhoid fever outbreaks are common in areas with limited access to clean water and sanitation. The global typhoid fever vaccines market is estimated to be valued at US$ 454.2 Bn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The growing prevalence of typhoid in developing countries presents a major market opportunity for typhoid fever vaccines. According to the World Health Organization (WHO), there are over 11 million cases and more than 128,000 typhoid-related deaths globally each year. Most cases occur in developing regions with poor sanitation and limited access to clean drinking water. Increased vaccination campaigns in these areas could help control the spread of the disease. Governments and international organizations have been focusing efforts on immunization programs using typhoid vaccines in high burden countries. Continuous support for such public health initiatives will be critical to maximize the benefits of vaccination and curb the burden of typhoid, especially in impoverished populations. This in turn can drive the growth of the typhoid fever vaccines market over the forecast period.
Porter’s Analysis
Threat of new entrants: The typhoid fever vaccines market size has moderate threat of new entrants due to high R&D costs involved in developing new vaccines. However, opportunities exist for new players to develop improved affordable vaccines for emerging markets.
Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of substitutes. However, awareness regarding benefits of vaccination is increasing buyer bargaining power.
Bargaging power of suppliers: Suppliers have low to moderate bargaining power due to presence of multiple vaccine manufacturers and suppliers. However, high R&D costs result in supplier bargaining power.
Threat of new substitutes: Threat from new substitutes is low as vaccines once approved have long market exclusivity. However, development of improved vaccines pose threat.
Competitive rivalry: The competitive rivalry is high owing to presence of global established players and intensifying competition to gain higher market share.
SWOT Analysis
Strengths: Availability of affordable effective vaccines, increasing government support and investments for immunization programs.
Weaknesses: Limited availability and access to vaccination in rural and remote areas, inadequate cold chain infrastructure in developing nations.
Opportunities: Emerging opportunities in developing countries, scope for improved affordable vaccines.
Threats: Threats from antibiotic resistance, potential outbreaks or resurgence of infection pose risks.
Key Takeaways
The global Typhoid Fever Vaccines Market is expected to witness high growth during the forecast period of 2024 to 2031. The estimated market size for 2024 is US$ 454.2 Bn.
Regional analysis shows the Asia Pacific region dominates currently owing to large population and majority of global cases occurring in India, Pakistan and other developing Asian nations. It will continue witnessing highest growth rate during the forecast period.
Key players operating in the Typhoid Fever Vaccines market are Linde Plc, Air Liquide, Engie, Uniper Se, Air Products Inc, Clean Hydrogen System, Cummins Inc., Toshiba Energy Systems & Solutions Corporation, Nel Asa, and Sgh2 Energy. Most players focus on production of affordable vaccines, strategic collaborations for supply & distribution in emerging markets and developing biosimilar vaccines.
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