Market Size of Global Cholera Vaccines Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.80 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cholera Vaccines Market Analysis
The cholera vaccines market is poised to grow at a CAGR of 9.8% over the forecast period.
The COVID-19 pandemic impacted the growth of the cholera vaccine market. For instance, an article published by the International Journal of Public Health in June 2021, reported cholera case fatality rate (CFR) increased in 2020 in Central and West Africa. CFR rose from 1.8% in 2019 to 2.1% in 2020. The COVID-19 pandemic has decreased health promotion activities that mitigate cholera outbreaks, and thus cases of cholera cases significantly increased. Thus, the increasing number of cholera cases reported during the COVID-19 pandemic increased the demand for cholera vaccines. In the current scenario, due to the decrease in COVID-19 cases and the resumption of healthcare services, the treatment of cholera is easily available, and the demand for the cholera vaccine may get stabilized compared to the beginning of the pandemic. In addition, with the rising number of cholera cases, the market is expected to witness significant growth over the forecast period.
The factors that are driving the growth of the studied market are increasing incidences of cholera and rising initiatives and awareness regarding immunization. For instance, in December 2022 World Health Organization (WHO) reported that since 2021, there had been an increase in cholera cases and their geographical distribution globally. The source also repeated that in the year 2021, 23 countries reported cholera outbreaks, mainly in the WHO Regions of Africa and the Eastern Mediterranean.
Similarly, an article published by the journal The Lancet Regional Health South Asia in July 2022 reported 6,231 suspected cholera cases were recorded in Pakistan and Bangladesh from January 2022 to April 2022. Thus, the high number of cholera cases recorded globally is expected to increase the demand for cholera vaccines, thereby driving the growth of the studied market.
Also, the increasing research and developments in Asia are expected to drive the growth of the market. For instance, in October 2021, CSIR- Indian Institute of Chemical Biology developed an oral cholera vaccine with an avirulent culture of an El Tor vibrio strain isolated from a water source in India and had successful testing on human volunteers. Thus, such studies are leading to the development of new vaccines, thereby driving the growth of the studied market.
Furthermore, the increased funding for the development of cholera vaccines by various organizations is expected to drive the growth of the market. For instance, in January 2022, The International Vaccine Institute (IVI) received a USD 1.4 million grant from the Bill and Melinda Gates Foundation to ensure critical standards and reagents. These funds are available to the manufacturers that produce cholera vaccines at a lower price in the global health market.
Thus, the increasing incidences of cholera and rising initiatives and awareness regarding immunization are expected to drive the demand for cholera vaccines, thereby contributing to the growth of the market during the forecast period. However, a lack of access to adequate care for cholera, coupled with many unreported cases, is expected to pull back the growth of the market.
