by The 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 offers protection against typhoid fever, a highly contagious bacterial infection caused by Salmonella typhi. The vaccine stimulates the body’s immune system to produce antibodies that fight against the bacteria. Oral typhoid vaccines are widely used as a preventive measure and are recommended for individuals traveling to typhoid-endemic regions. The rising prevalence of typhoid fever, especially in developing countries, is driving the demand for oral typhoid vaccines. Furthermore, increasing government initiatives to promote immunization programs and prevent the spread of infectious diseases are expected to fuel market growth.
Market Dynamics:
The Oral Typhoid Vaccine Market is driven by two key factors. Firstly, the increasing prevalence of typhoid fever is driving the demand for oral typhoid vaccines. In regions with limited access to clean water and sanitation facilities, typhoid fever can spread rapidly, leading to outbreaks. Oral typhoid vaccines offer an effective preventive measure against the disease, thereby driving market growth.
Secondly, growing government initiatives to promote immunization programs are expected to boost market growth. Governments worldwide are focusing on preventing the spread of infectious diseases through vaccination campaigns. This includes providing access to oral typhoid vaccines to at-risk populations, especially in developing countries. The support from governments and health organizations in promoting vaccination programs is expected to drive market growth in the coming years.
Overall, the Oral Typhoid Vaccine Market is expected to witness high growth due to the increasing prevalence of typhoid fever and
Segment Analysis:
The oral typhoid vaccine market can be segmented based on end user and region. In terms of end user, the dominating segment is expected to be the pediatric segment. This is due to the high prevalence of typhoid fever among children in developing countries. Additionally, governments and healthcare organizations are focusing on immunization programs for children, further driving the demand for oral typhoid vaccines in the pediatric segment.
PEST Analysis:
Political: The political landscape plays a crucial role in the growth of the oral typhoid vaccine market. Governments’ initiatives in implementing national immunization programs, regulations for vaccine approvals, and funding for research and development activities impact the market dynamics.
Economic: Economic factors such as healthcare expenditure, GDP growth, and disposable income levels affect the affordability and accessibility of oral typhoid vaccines. Developing countries with rising economies and increasing healthcare budgets contribute significantly to market growth.
Social: The social factors influencing the market include awareness about the benefits of vaccination, hygiene practices, and healthcare infrastructure. Increasing awareness campaigns and educational programs about the prevention of typhoid fever contribute to the demand for oral typhoid vaccines.
Technological: Advancements in vaccine delivery systems and technologies, such as needle-free administration, are driving the growth of the oral typhoid vaccine market. These innovations enhance patient compliance and ease of administration, leading to their increasing adoption.
Key Takeaways:
The global Oral Typhoid Vaccine Market Share is expected to witness high growth, exhibiting a CAGR of 12.3% from 2023 to 2030. This growth can be attributed to factors such as increasing government initiatives for immunization programs, rising awareness about the benefits of vaccination, and the high prevalence of typhoid fever in developing countries.
In terms of regional analysis, the Asia Pacific region is expected to be the fastest-growing and dominating region in the oral typhoid vaccine market. This can be attributed to the high burden of typhoid fever in countries like India and Southeast Asian countries, as well as the increasing focus on immunization programs by governments.
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 significantly to the market through their extensive research and development activities, product portfolio, and strategic collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
