The malaria vaccines market globally was valued at USD 9.5 million in 2017 and is expected to grow at a CAGR of around 37.7% from 2018 to 2026. Malaria is a widespread disease that is caused by a parasitic infection by the protozoan plasmodium usually transmitted by different species of anopheles mosquitoes. Among the various plasmodium species, four of them utilizes humans as a natural intermediate host. These are P. ovale, P. vivax, P. falciparum, and P. malariae. Based on data provided by WHO, in 2009 alone 214 Mn to 397 Mn cases of clinical malaria were reported worldwide. However, around 515 Mn clinical cases related to P. falciparum were projected in 2002. It is observed that more than 85% of death by malaria is caused due to P. falciparum and then almost 90% of deaths of malaria are caused in Sub-Saharan Africa by P. falciparum.
These growing incidences of malaria along with the presence of numerous companies that are introducing low profit margin vaccines is expected to boost the market growth for malaria vaccines market. Globally the demand for malaria vaccines is going to be further driven by the rising awareness related to the aftermaths of the disease, along with rising diagnosis and higher treatment rate. However, it is expected that in the upcoming years, the market may face challenges related to the high price of vaccines, weaker supply chain or distribution network in the developing countries, along with stringent regulatory policies acting as some chief restraints for the market growth. It is also expected that the worldwide research and development, vaccination programs, technological breakthroughs and investments will likely provide new growth opportunities to the malaria vaccines in future.
Malaria Vaccines Market Share, By Vaccines Type, 2017 – 2026
Based on the data provided by WHO, more than 200 million cases of malaria were reported within the region of Africa in 2015 alone making the MEA or Middle-east and Africa as one of the largest potential regions that needs malaria vaccines. In addition to this, it is the limited financial resources, lower awareness related to the aftermaths of malaria, lower rate of treatment, together with weaker distribution channels acting as potential factors to drive the growth of malaria vaccines in MEA region thereby contributing to the global market. Asia Pacific is another important region, as 1.2 million confirmed cases of malaria along with 550 deaths were reported in India in 2015. This is important as 95% of India’s population live in malaria-endemic areas with around 13 million people in Bangladesh.
The global malaria vaccines market has been segmented on the basis of vaccine type, agent, channel of distribution and region. Based on vaccine type the market is divided into pre-erythrocytic vaccine, erythrocytic vaccine, and multi-antigen vaccine. Considering the agent used in the malaria vaccines, the global market is segmented into plasmodium falciparum, plasmodium vivax, and anopheles species. The channel of distribution used for malaria vaccines include the hospitals, clinics and community centers. Geographically, the Asia Pacific region is expected to grow at the fastest rate among all the other regions with Middle-east & Africa and Latin America likely to be the other potential regions for malaria vaccines market.
Europe Malaria Vaccines Market, By Vaccines Type, 2017 – 2026 (USD Billion)
Asia Pacific, MEA and Latin America is expected to be the prominent markets for malaria vaccines globally over the forecast period of 2018-2026. It was found that around 15 million confirmed cases of malaria were reported within the Asia Pacific region in 2016. Most of the cases related to malaria in Latin America were found in the Amazon region. Based on a study published by the British Medical Journal, it was reported that Brazil in 2017, displayed an increasing rate of malaria cases. The confirmed cases of malaria in the country had grown from 14 cases per 1,000 population in 2014 to 25 cases per 1,000 population in 2015. The North America and European regions further displayed a minimal number of malaria cases in 2016.
The leading players in the malaria vaccines market globally focus on latest technology and product development along with a higher focus to reach small and developing countries as a part of their business strategy. For example, according to World Health Organization (WHO), in 2015, around 292,000 children died of malaria, at the young age of 5 years in Africa. There were around 306,000 fatalities associated with malaria that was reported worldwide in 2015, out of which around 90% cases were found in Africa. As per World Health Organization (WHO), the malaria vaccines will be delivered in the regions of sub-Saharan Africa in 2018, with the funding of around US$ 15 Mn. Major players present in the global malaria vaccines market include GlaxoSmithKline, GenVec, Inc., Nobelpharma,and Sanaria. Other promising vendors are Cadila Healthcare Ltd., VLP Therapeutics LLC, CellFree Sciences Co. Ltd., and Genome ReS Ltd. among others.