Malaria Vaccines Global Market Report 2024

The malaria vaccines market size has grown exponentially in recent years. It will grow from $3.48 billion in 2023 to $4.7 billion in 2024 at a compound annual growth rate (CAGR) of 35.2%. The growth observed in the historic period in the field of malaria vaccines can be attributed to several factors, including the high burden of malaria, global health initiatives addressing the disease, funding and grants supporting research and development, malaria control programs, and government support and regulatory frameworks. These factors collectively contributed to advancements in the development and implementation of malaria vaccines during that period.

The malaria vaccines market size is expected to see exponential growth in the next few years. It will grow to $15.32 billion in 2028 at a compound annual growth rate (CAGR) of 34.3%. The anticipated growth in the forecast period in the field of malaria vaccines can be attributed to global efforts towards elimination goals, expanded access programs, a rise in vaccine coverage, global vaccine alliances, and the impact of climate change on the spread of malaria. Major trends expected in the forecast period include technological innovations in vaccine development, fostering public-private partnerships, promoting international collaboration, and advancements in vaccine technology. These trends are likely to shape and influence the progress and accessibility of malaria vaccines in the coming years.

The malaria vaccine market is anticipated to witness growth owing to an increase in mosquito-related diseases. These diseases, transmitted through mosquito bites, constitute a diverse range of illnesses. The RTS, S/AS01 (RTS, S) vaccine, a prominent player in the malaria vaccine market, is employed to prevent and mitigate the impact of mosquito-borne infectious diseases by training the immune system to recognize and combat the parasite. According to a November 2023 report from the World Health Organization (WHO), an estimated 249 million malaria cases occurred globally in 2022, reflecting a rise of 5 million cases from the previous year. Pakistan reported a significant increase, reaching an estimated 2.6 million cases in 2022 compared to 500,000 cases in 2021. The escalating incidence of mosquito-related diseases serves as a catalyst for the malaria vaccine market's growth.

Leading companies in the malaria vaccine market are actively innovating by developing products tailored for specific demographics, such as vaccines designed for children's malaria. This strategic approach aims to capture larger customer bases, boost sales, and augment revenue streams. Vaccines targeting mosquito-borne diseases are specialized immunological formulations offering protection against illnesses transmitted by mosquitoes. An exemplar in this category is a pediatric vaccine combating Plasmodium falciparum, the deadliest malaria parasite globally, and prevalent in Africa. In November 2022, Malawi and the World Health Organization (WHO) introduced Africa's inaugural children's malaria vaccine. The RTSS vaccine, tailored for young children, exhibits the potential to reduce mortality from the mosquito-borne disease. Despite a modest effectiveness rate of 30%, the vaccine, after pilot testing on over one million children in Ghana, Kenya, and Malawi, instills optimism for saving lives among the 400,000 individuals succumbing to malaria annually.

In August 2022, GlaxoSmithKline Plc, a prominent UK-based biopharmaceutical company, completed the acquisition of Affinivax Inc. for $3.3 billion. This strategic acquisition positions GlaxoSmithKline (GSK) to strengthen its pipeline of novel vaccines and enhance its presence in the Boston area, leveraging Affinivax Inc.'s innovative vaccine technology. Affinivax Inc., a US-based provider of vaccine technology, focuses on the development of malaria vaccines.

Major companies operating in the malaria vaccines market report are Pfizer Inc., Ipca Laboratories Ltd., Novartis AG, Sanofi SA, GlaxoSmithKline Plc., Takeda Pharmaceutical Co Ltd., Hikma Pharmaceuticals PLC, Amneal Pharmaceuticals LLC., Lupin, Taj Pharmaceuticals Limited., Nobelpharma Co. Ltd., Bliss GVS Pharma Ltd., Sanaria Inc., Precigen Inc., AdvaCare Pharma, CellFree Sciences, Actiza Pharmaceutical Private Limited, Sumaya Biotech, VLP Therapeutics LLC, GeoVax Labs Inc., Zydus Cadila, Genvec Inc.

North America was the largest region in the malaria vaccines market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the malaria vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the malaria vaccines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The malaria vaccines market consists of sales of circumsporozoite protein (CSP) antigens, multi-component adjuvants, and circumsporozoite protein. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Malaria vaccines are specialized vaccines developed to prevent malaria, a potentially life-threatening infectious disease transmitted through mosquito bites and caused by parasites belonging to the Plasmodium genus. The primary objective of these vaccines is to confer immunity against the Plasmodium parasites, offering protection against the development of malaria.

The primary types of agents involved in malaria vaccines are Plasmodium falciparum, Plasmodium vivax, and Anopheles species. Plasmodium falciparum is a protozoan parasite accountable for the most severe and deadly form of malaria in humans. Various types of malaria vaccines include pre-erythrocytic, erythrocytic, multi-antigen, and others, and they can be administered through different routes such as intramuscular, subcutaneous, intradermal, among others. The distribution of these vaccines is facilitated through various channels, including both public and private avenues.

The malaria vaccines market research report is one of a series of new reports that provides malaria vaccines market statistics, including malaria vaccines industry global market size, regional shares, competitors with a malaria vaccines market share, detailed malaria vaccines market segments, market trends and opportunities, and any further data you may need to thrive in the malaria vaccines industry. This malaria vaccines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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