Global cholera vaccines market is expected to reach over USD 1.25 billion by 2024, according to a new report by Grand View Research, Inc. The presence of wide range of promising vaccine candidates in the pipeline is anticipated to accentuate growth of the cholera vaccines market over the forecast period. In July 2016, Valneva SE has announced completion of phase II clinical trial for Clostridium difficile vaccine candidate.
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Moreover, a large number of government organizations working toward spreading awareness about immunization against the fatal diseases, such as cholera, are expected to boost the market growth. For instance, UNICEF is involved in provision of funding for the cholera immunization initiatives taken up by the governments of highly cholera prominent countries, such as Kenya and Iraq.
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Further key findings from the study suggest:
- Dukoral was the first oral cholera vaccine to get approval in the European Union during the year 2004. This is a drinkable dosage form, which is recommended especially for travelers. Immunization requires 2 doses of the formulation that provides up to 3 months of protection against the target disease.
- Shanchol was the first vaccine that was licensed and developed with support from Gates Foundation. This molecule was produced by Shantha Biotechnics and made available in India during 2009.
- Vaxchora is the recently (i.e., 2016) launched single dose, live attenuated formulation that is the only approved cholera vaccine in the U.S. This product segment is expected to reach over USD 290 million till 2024.
- Europe dominated the market in terms of revenue with over USD 203.27 million in 2015mainly due to the availability of approved cholera vaccines such as Dukoral and Shanchol coupled with extensive research and development activities and the existence of key participants of the industry in this region
- Introduction of first cholera vaccine during 2016 in the U.S. is expected to be the major factor for the boost in growth of North American cholera market with a fastest CAGR of over 12% during the forecast period.
- Asia Pacific region is expected to follow this high market growth with a CAGR of over 10% from 2016 to 2024 attributable to the growing target population base with high unmet clinical needs.
- Moreover, government support in the Asia Pacific region is expected to drive the market growth. Major regulatory authorities for regulation of immunization in Asia Pacific include State Food and Drug Administration, Pharmaceutical and Medical Safety Bureau, Drugs Controller General of India, etc. These authorities maintain easy availability of safe and cost-effective cholera vaccines in this region, due to high frequency of epidemics.
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