Global Cholera Vaccine Market Garnered a Revenue of Approximately USD 68 Million in 2021 and Further Touch a CAGR of ~7% During 2022-2030; Market to…

Kenneth Research

Key Companies Covered in Global Cholera Vaccine Market by Kenneth Research include SBL Vaccines, Shantha Biotechnics, EuBiologics Co., Ltd, Emergent BioSolutions Inc., Hilleman Laboratories, Instituto Finlay de Vacunas (IFV), Sanofi, and other key market players.

New York, June 20, 2022 (GLOBE NEWSWIRE) -- In various regions of the world, cholera is a leading cause of epidemic diarrhea. A cholera pandemic has been raging in resource-poor countries of Asia, Africa, and Latin America for more than six decades. According to the statistics by the United States Centers for Disease Control and Prevention (CDC), in 2017, 34 countries reported to the World Health Organization (WHO), a total of 1.2 million cases as a result of cholera, which included over 5,600 deaths. Furthermore, according to the statistics by the WHO, an estimated 1.3 to 4 million individuals around the globe had cholera each year, further registering 21,000 to 143,000 deaths. Cholera, on the other hand, is underreported, and the true toll could be far greater. The majority of cases continue to occur in resource-constrained settings with contaminated drinking water, poor sanitation, and poor hygiene. The highest case fatality rates are found in the African continent. The U.S. CDC also stated that in nations where cholera local transmission of cholera occurs, over 1.3 billion people are at risk in such countries.

Kenneth Research recently published a report titled "Global Cholera Vaccine Market" which includes a brief analysis of the market dynamics, such as growth drivers, restraint factors, recent market trends, and future growth opportunities. The market research report, which covers the forecast period of 2022-2031, contains a complete analysis of COVID-19's impact and its influence on end-users. Aside from that, the research report examines the product portfolios of the leading market competitors as well as their market growth strategies.

The global cholera vaccine market garnered revenue of approximately USD 68 Million in 2021 and is further expected to grow with a CAGR of ~7% during the forecast period. The market's expansion might be ascribed to the rising demand for cholera vaccines as a result of rising cholera cases caused by poor sanitation and contaminated food consumption. For instance, in the other statistics by the WHO, in 2020, 54% of the global population (4.2 billion people) used a safely managed sanitation service. Over 1.7 billion people were still known to not have basic sanitation services, such as private toilets or latrines. Furthermore, increased cholera awareness and initiatives by governmental and private healthcare institutions to promote preventative care and immunization programs are projected to fuel market expansion. The number of cholera cases fluctuated between 2000 and 2020 but increased significantly in 2017 to around 1 million cases.

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Over the past few years, the climate catastrophe has already been affecting every inhabited region of the globe, with catastrophic repercussions for individuals and global public health, such as a rise in water-borne diseases which include cholera and typhoid caused as a result of increased flooding. For instance, Kenya, a country in the Middle East & African region, witnessed floods in October 2009, when a severe cholera outbreak was further reported. During this outbreak, a total of 11,769 cases and 274 deaths were registered, which was exceptionally high compared to other outbreaks reported during non-flood periods.Such instances had raised the need amongst the government authorities to adopt mass vaccination processes to lower the burden of the disease, which in turn, is expected to further contribute to the growth of the global cholera vaccine market.

As part of government initiatives, the United States Centers for Disease Control and Prevention (CDC) collaborated with international partners to detect cholera early, respond fast, and avoid large-scale, uncontrolled outbreaks of this deadly disease. The WHO also had taken several proactive global strategies, such as theEnding CholeraA Global Roadmap to 2030, which aims at controlling cholera. The initiative further aims to support countries to eliminate disease transmission and reduce cholera deaths by 90% by 2030.

The global cholera vaccine market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst the market in these regions, the market in the Middle East & Africa region is anticipated to hold the largest share of the market over the forecast period owing to high demand for cholera vaccine, especially in countries such as the Democratic Republic of the Congo, Nigeria, and Zimbabwe, on the back of high prevalence of cholera in these countries. From January to October 2021, approximately 100,000 suspected cases of cholera were reported in Nigeria. In the same months, about 3000 people died as a result of Cholera in the nation. Bauchi, Jigawa, Kano, and Zamfara were the states of the nation where the prevalence of the disease was the highest. As per WHOs regional office for the Eastern Mediterranean region, Yemen recorded the most cholera cases in a single country in 2017 with a cumulative total of 1 063 786 suspected cases and 2258 associated deaths.

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On the other hand, the market in the Asia Pacific is projected to witness moderate growth over the forecast period. The Southeast Asia region, which encompasses Bangladesh and India has the second most cholera-affected people. Even though the number of cases fell in previous years, the number of cholera deaths in the region soared high. Poverty, lack of development, and high population density are among the acknowledged risk factors for cholera outbreaks in several countries in this region. Furthermore, the region is vulnerable to harsh environmental variables such as frequent and widespread flooding which can contaminate water supplies and cause population displacement. According to the statistics by the European Center for Disease Prevention and Control (ECDC), Afghanistan held 74 new acute watery diarrhea (AWD) cases as of 28th February 2022, and in Bangladesh 27324 suspected cases of the disease were reported as of 17th March 2022. Furthermore, in India, 100 suspected cholera cases have been reported as of 9th March 2022, whereas in the Philippines, 491 cholera cases and 6 fatalities have been reported as of 7th February 2022.

The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

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The global cholera vaccine market is segmented by type into killed, whole-cell oral cholera vaccines (WC-OCVs), and other oral cholera vaccines (OCVs). WC-OCVs are the most extensively used cholera vaccines, with two doses providing protection against the disease for a minimum of two years. The killed, whole-cell oral cholera vaccines (WC-OCVs) segment is expected to hold the highest share of the market over the forecast period, backed by the high efficacy of this type of vaccine. According to the studies from NCBI, the overall OCV protection was 36%, and the total OCV protection was 46%. Therefore cumulative total vaccination protection was significantly lower for persons below the age of 5 years. Total vaccine protection dropped notably after 3 years in children vaccinated at 1-4 years of age. On the other hand, the surge in demand for such vaccines worldwide and the increasing stockpile of these vaccines by the governmental bodies to distribute them amongst the low-income nations, are also expected to contribute to the growth of the segment in the coming years. For instance, with the help of Gavi funding, more than 17 million doses were supplied in 2018, up 75% from 2017, thereby increasing the total number of doses distributed since the program began to over 35 million. Moreover, in 2018, 14 nations used the stockpile to prevent or contain cholera outbreaks.

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The global cholera vaccine market is further segmented on the basis of product into Dukoral, Shanchol, Vaxchora, Euvichol, and others, out of which, the Dukoral segment is estimated to hold the largest market share over the forecast period. The growth of the segment can be majorly attributed to the availability of a significant volume of this product as stockpiled by the WHO, and to the high demand for these vaccines amongst the international travelers, the volume of which is increasing rapidly in the low- and middle-income nations.For instance, according to the statistics by the World Bank, the number of arrivals of international tourism in the Middle East & North Africa grew from 80626989 numbers in the year 2004 to 152571280 numbers in the year 2019. On the other hand, the Shanchol and Euvichol segments are expected to increase rapidly during the projected period, owing to the global OCV stockpile's availability for mass vaccination operations.

Some of the prominent industry leaders in the global cholera vaccine market that are included in our report areSBL Vaccines, Shantha Biotechnics, EuBiologics Co., Ltd, Emergent BioSolutions Inc., Hilleman Laboratories, Instituto Finlay de Vacunas (IFV), Sanofi, and others.

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Cholera Vaccine Market

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Global Cholera Vaccine Market Garnered a Revenue of Approximately USD 68 Million in 2021 and Further Touch a CAGR of ~7% During 2022-2030; Market to...