The global Oral Typhoid Vaccine market is estimated to be valued at US$ 394.62 billion in 2023 and is projected to grow at a CAGR of 12.3% during the forecast period of 2023-2030, states a new report by Coherent Market Insights. Oral Typhoid Vaccine is a preventive measure against typhoid fever and is administered orally. The vaccine offers several advantages such as easy administration, long-lasting immunity, and cost-effectiveness. With increasing awareness about the importance of vaccination and rising cases of typhoid fever worldwide, the demand for oral typhoid vaccines is expected to witness significant growth in the coming years.
Market Key Trends:
One key trend in the Oral Typhoid Vaccine market is the integration of advanced technologies in vaccine development. With the advent of new and innovative technologies, such as molecular biology and genetic engineering, researchers are able to develop highly efficacious and safe oral typhoid vaccines. These technologies enable the modification of vaccine strains to enhance their immunogenicity and provide better protection against typhoid fever. Additionally, advancements in vaccine delivery systems, such as oral capsules and microencapsulation, further contribute to the development of more effective oral typhoid vaccines.
The integration of advanced technologies in vaccine development not only improves the efficacy and safety of oral typhoid vaccines but also streamlines the manufacturing process, leading to increased production capacity. This trend is expected to drive the growth of the Oral Typhoid Vaccine market in the forecast period, as it enables the development of novel vaccine candidates and facilitates large-scale production to meet the growing demand.
The oral typhoid vaccine market can be segmented based on type, distribution channel, and end-user.
In terms of type, the dominant segment is the live attenuated vaccine. Live attenuated vaccines are made from weakened forms of the bacteria that cause typhoid, providing a longer duration of protection. This segment is expected to dominate the market due to its effectiveness and wide availability. Additionally, the live attenuated vaccine segment has witnessed significant investments in research and development, leading to advancements and improvements in the vaccines, further driving its dominance.
In terms of distribution channel, the dominant segment is expected to be the hospitals and clinics segment. Hospitals and clinics play a vital role in administering vaccines and providing immunization services to patients. These facilities have the necessary infrastructure and healthcare professionals to handle vaccines, making them a preferred choice for vaccine distribution. Furthermore, hospitals and clinics often receive government support for immunization programs, positively impacting the growth of this segment.
The global oral typhoid vaccine market is expected to witness high growth, exhibiting a CAGR of 12.3% over the forecast period (2023-2030). This growth can be attributed to increasing awareness about the importance of vaccination and the rising prevalence of typhoid globally. Additionally, the market is expected to benefit from government initiatives to control and prevent the spread of typhoid through vaccination campaigns, especially in developing countries with a high burden of typhoid cases.
In terms of regional analysis, Asia Pacific is projected to be the fastest-growing and dominating region in the global oral typhoid vaccine market. This can be attributed to the high incidence of typhoid in countries like India and China, coupled with increasing government investments in healthcare infrastructure. Furthermore, the presence of key market players in the region, along with their focus on expanding access to vaccines, is expected to drive the growth of the oral typhoid vaccine market in Asia Pacific.
Key players operating in the oral typhoid vaccine market include Sanofi Pasteur, Bharat Biotech, Pfizer Inc., GlaxoSmithKline (GSK), Baxter International Inc., Merck & Co., Inc. (MSD outside North America), Takeda Pharmaceutical Company Limited, Novartis International AG, Biological E. Limited, AstraZeneca, Cipla Limited, Prokarium, Bio-Med Pvt. Ltd., Panacea Biotec, Dynavax Technologies Corporation, Butantan Institute, Zydus Cadila, Biomed Pvt. Ltd., Cadila Healthcare Limited, and GlaxoSmithKline Biologicals. These key players are focusing on strategic partnerships, product innovations, and geographical expansions to strengthen their market presence and cater to the growing demand for oral typhoid vaccines worldwide.