Malaria Vaccines Market -Global Market Share, Trends, Analysis and Forecasts, 2023-2032
The global malaria vaccines market size was estimated to be US$ 41.02 Million in 2022 and is expected to reach US$ 560.06 Million by 2032 at a CAGR of 30.1%.
As per statistics provided by the World Health Organization (WHO), about half of the world population is at risk of malaria. This has resulted in an increased preference of various healthcare agencies towards addressing this major problem.
The other non-profit organizations such as the Melinda Gates Foundation and PATH are working towards the development of preventive measures as well as saving various lives in the malaria hit regions. The largest number of malaria cases are registered in Africa and therefore, this region is the major target of launching the novel malaria vaccine developed by GlaxoSmithKline plc.
The European approval was granted to Mosquirix in 2015 and is currently being examined in Africa as a pilot study. The African people utilize insecticide-treated mosquito nets as well as indoor-insecticide spraying for protection against malarial vectors. In Africa, the usage of insecticide-treated mosquito nets increased by 80% during the period of 2010-2015.
Also, large number of mosquito repellent products such as coils, patches, mats, creams, liquids and others are marketed across the globe. The non-profit organizations are also engaged in providing cheap and free treatment facilities to the people suffering from malaria in Africa. Also, GSK has thought of selling the vaccines at lower cost forgoing its huge profit margins in order to support the worldwide malaria eradication programs.
Further, owing to the presence of more malarial vaccines under research pipeline, the malaria vaccines market is expected to grow in future. Factors promoting the growth of malaria vaccines market include high demand for vaccines for important diseases owing to rising focus on biological preparations.
Also, various governments across several countries as well as companies, and non-profit organizations are contributing towards preventing the spread of this disease. The governments across various regions are majorly involved in programs targeted at curbing malaria.
For instance, WHO had withdrawn funding for pilot program in first phase during 2017 and 2020 by the global fund to combat against malaria and other disease such as AIDS and tuberculosis that are prevalent across the globe In 2015, WHO established a global technical strategy for malaria 2016-2030 with some defined goals.
One of the major goals aimed at curbing malaria in at least 10 countries. The Indian government has recognized certain Drug Distribution Centers (DDCs) and Fever Treatment Depots (FTDs) in the rural areas for offering ease of access to anti-malarial drugs.
Various government programs are being regularly monitored and are under surveillance to reduce malarial cases. This kind of support from these national as well as global initiatives will fuel the malaria vaccines market growth during the future period.
Based on regions, the global malaria vaccines market is divided into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. The North American region is anticipated to command the maximum market share and would lead the malaria vaccines market during the forecast period. However, the Asia-Pacific and Middle-Eastern regions is anticipated to register swift growth during the forecast period owing to the large patient population.
The major companies that provide malaria vaccines include GlaxoSmithKline Plc, Sanaria Inc, Sumaya Biotech, GenVec Inc, and Nobelpharma Co., Ltd.
Global Malaria Vaccines Market Segmentation:
By Agent
- Plasmodium Falciparum
- Plasmodium Vivax
- Anopheles Species
By Vaccine Type
- Pre-Erythrocytic
- Erythrocytic
- Multi-antigen
By Distribution Channel
By Geography
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
