May 29, 2024
Typhoid Fever Vaccines Market

Typhoid Fever Vaccines Market is Driven by Rising Awareness About Typhoid Prevention

Typhoid fever vaccines help prevent potential typhoid infection through immunization by inoculating attenuated or inactivated typhoid bacteria. Typhoid fever is a life-threatening illness caused by the Salmonella Typhi bacteria and spreads through contaminated food or water. Typhoid fever vaccines are available as live, oral vaccines and injectable vaccines. The live oral vaccine contains a weakened form of the Salmonella Typhi bacterium that causes no disease but leads to the development of immunity. The injectable vaccine contains killed typhoid bacteria. Both types of typhoid vaccines have shown to be safe and provide long-term protection from the disease. Rising awareness about typhoid prevention through vaccination drives by governments and non-profit organizations globally has been a major driver increasing the uptake of typhoid fever vaccines in endemic regions. The global Typhoid Fever Vaccines Market is estimated to be valued at US$ 454.2 Bn in 2024 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 key trends: One of the key trends in the typhoid fever vaccines market size has been the development of next-generation vaccines with improved efficacy and longer-lasting immunity. For instance, recently WHO prequalified a new vaccine called Typbar-TCV, manufactured by Bharat Biotech. Typbar-TCV is a live attenuated typhoid conjugate vaccine that provides longer-lasting protection of over 7 years and has shown to have higher efficacy rates than the earlier typhoid vaccines. The vaccine’s approval has expanded access to a critical public health tool for endemic countries combating the rising antimicrobial resistance in Salmonella Typhi bacteria. Furthermore, several pharmaceutical companies are engaged in R&D activities focused on developing new typhoid conjugate vaccines with better thermostability to facilitate transport and storage in low-resource settings of endemic regions. Such innovations are expected to further boost the adoption of effective typhoid vaccines globally over the forecast period.

Porter’s Analysis
Threat of new entrants: Low. Established players dominate the market with strong brand names, distribution networks and stringent regulatory requirements.

Bargaining power of buyers: Moderate. Due to the availability of substitutes and presence of established players, buyers have a fair bargaining power.

Bargaining power of suppliers: Low. Major players undertake in-house manufacturing and have a global presence and supply chain.

Threat of new substitutes: Low. Limited availability of substitutes due to strong efficacy shown by existing vaccines.

Competitive rivalry: High. Major players compete on the basis of innovation, pricing and strong brand names.

Key Takeaways
The global typhoid fever vaccines market is expected to witness high growth over the forecast period. Asia Pacific dominates the market due to the high prevalence of typhoid fever infections in countries like India. As per the World Health Organization (WHO), over 11 million cases of typhoid fever occur annually in India alone.

Regional analysis: North America is expected to grow at a significant rate during the forecast period owing to the rising government funding for the development of novel vaccines. Moreover, presence of key players in countries like the US is likely to drive regional growth.

Key players: 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. Linde Plc and Air Liquide account for a major share due to their diverse product portfolio and global presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraaged AI tools to mine information and compile it