by The global Ebola Vaccine Market is estimated to be valued at US$ 5.83 Bn in 2023 and is expected to exhibit a CAGR of 32.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Ebola virus disease is a serious contagious disease that causes severe bleeding and organ failure. There is no approved vaccine for prevention of Ebola virus infection. However, several Ebola vaccine candidates are under development. Ebola vaccines aim to help the immune system prevent infection or lessen its severity if infection occurs. They contain killed viruses, parts of killed viruses, or genetic material (DNA or RNA) from the virus. Once injected into the body, these components help the immune system recognize the virus and trigger an immune response. This gives the body an advantage to fight the real virus if exposed later. The increasing demand for effective vaccines to curb Ebola outbreaks is expected to drive the Ebola vaccine market growth over the forecast period.
Market Key Trends:
Increasing R&D Investment: With increasing incidences of Ebola outbreaks across Africa, companies and research institutes are investing heavily in R&D of new and advanced Ebola vaccine candidates. For instance, Merck & Co.Inc received over US$ 200 million funding from WHO and others to develop its VSV-ZEBOV Ebola vaccine candidate. Ongoing vaccine trials: Several vaccine candidates are undergoing different phases of clinical trials to test their safety and efficacy. In September 2021, Merck & Co. Inc received FDA approval for its V920 Ebola Zaire vaccine based on positive Phase 3 clinical trial results. Approval of such vaccines is expected to boost market growth. Government support and awareness programs: Governments in Africa and international bodies like WHO, CDC are supporting awareness and immunization programs. This is creating demand for Ebola vaccines. For instance, WHO approved Panacea Biotech’s nano-particle based vaccine candidate in December 2021, which will help the organization in its immunization programs.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the Ebola Vaccine Market requires a huge investment for research and development along with clinical trials.
Bargaining power of buyers: The bargaining power of buyers is moderate as the demand for ebola vaccine is uneven and limited to disease outbreak conditions.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of several manufacturers in the market.
Threat of new substitutes: There are currently no substitutes for ebola vaccine.
Competitive rivalry: High due to presence of numerous players focusing on partnerships and acquisition.
Key Takeaways
The global Ebola Vaccine Market growth is expected to witness high exhibiting CAGR of 32% over the forecast period, due to increasing awareness about prevention of Ebola virus disease.
The North American region is expected to dominate the global Ebola Vaccine Market during the forecast period owing to increasing research funding and approvals of clinical trials in the United States.
Key players operating in the Ebola Vaccine Market are Merck & Co.Inc, GlaxoSmithKline plc, Mapp Biopharmaceutical, Nanoviricides Inc., Bavarian Nordic, Chimerix, Biocomo, Geneone Life Sciences Inc, NewLink Genetics Corporation, Novavax Inc, Johnson & Johnson Private Limited, Arbutus Biopharma, Sarepta Therapeutics, Hemispherx Biopharma Inc, IMV Inc, Peptineo, Biocryst Pharmaceuticals Inc. Merck & Co. Inc is a leading player in ebola vaccine manufacturing
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
