Chikungunya Vaccine Market Size to Surpass USD 496.67 Million by 2030 at 10.12% CAGR – Report by Market Research Future (MRFR)

Market Research Future
Market Research Future

Chikungunya Vaccine Market Trends and Insights by Product Technology (Live-Attenuated Virus Vaccines, Inactivated Viral Vaccine, Recombinant Viral Vaccines, Chimeric-Alphavirus Candidates and Others), by Age Group (Pediatric, Adult and Geriatric), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Others) and Region (Americas, Europe, Asia-Pacific, and Middle East & Africa), Competitive Market Growth, Size, Share and Forecast to 2030

USA, New York, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Chikungunya Vaccine Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Chikungunya Vaccine Market Information By Product Technology, Age Group, Distribution Channel, And Region - Forecast till 2030", the market is expected to reach USD 496.67 million by 2030 and register a CAGR of 10.12% during the forecast period of 2022 to 2030.

Market Synopsis

A biological preparation called the chikungunya vaccine offers active acquired immunity against a specific infectious or cancerous condition. A vaccination often comprises a substance that resembles a germ that causes a disease; this substance is frequently created from a bacteria's weaker or dead forms, its toxins, or one of its surface proteins. There are numerous international and regional sellers of the chikungunya vaccination. All businesses are fighting for the largest possible portion of the market, which is quite competitive. The providers compete based on price, reliability, and quality. In a highly competitive market environment, players must provide high-tech, cost-effective vaccines. Because of the increased adoption of advanced medical technologies and continuous development by companies, the global market of the chikungunya vaccine is becoming more profitable. People get chikungunya when bitten by a mosquito infected with the virus.

Chikungunya is not spread from person to person. But mosquitoes pick up the virus when biting an infected person. If you have the infection, avoid getting new mosquito bites to keep the virus from spreading to others. The market is moderately fragmented due to rising competition, product launches, increased collaborative partnerships, and other strategic decisions to achieve operational efficiency. A large and diverse range of promising vaccination approaches for use against chikungunya has emerged in recent years and has been shown to elicit protective immune responses in animal models and humans safely. Significantly, many of these are built on technologies that have received clinical approval to combat other infections. Additionally, clinical trials are still being conducted for a subset of them. This review's objectives are to highlight immune-stimulating techniques that have been effectively used to prevent infection, to describe the pertinent immunobiology of the Chikungunya infection, and to explore goals and difficulties in developing a vaccine for therapeutic application.

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Report Scope:

Report Attribute

Details

Market Size in 2030

USD 496.67 Million

CAGR

10.12%

Base Year

2021

Forecast Period

2022-2030

Historical Data

2020

Forecast Units

Value (USD Million)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Technology, Age Group and Distribution Channel

Geographies Covered

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Key Market Drivers

Rising prevalence of chikungunya fever

Increasing government initiatives regarding prevention and control of chikungunya

Chikungunya Vaccine Market Competitive Landscape:

The noteworthy contenders in the chikungunya market are:

  • Emergent BioSolutions Inc. (US)

  • Bharat Biotech International Limited (India)

  • Thermis Bioscience GmbH (Austria)

  • Auro Vaccine LLC. (US)

  • Takeda Pharmaceutical Company Limited (Japan)

  • Valneva SE (France)

  • Moderna, Inc. (China)

Chikungunya Vaccine Market Dynamics:

Market Drivers:

Most cases of the chikungunya virus are found in Africa, Asia, and the Indian subcontinent. The main drivers of the market expansion for the worldwide chikungunya vaccine are the rising incidence of chikungunya fever, rising awareness of mosquito-transmitted illnesses, and rising government initiatives regarding chikungunya prevention and control. The chikungunya vaccine market is anticipated to expand significantly in the upcoming years due to the growing unmet need for chikungunya therapy in underdeveloped and developing countries. However, strict regulatory requirements may constrain the market's expansion in the foreseeable future. Chikungunya is a commercially and clinically significant arbovirus that has become widespread in the twenty-first century. Although seldom lethal, viral infection can cause immobilizing arthralgia that can last for months to years. The negative effects of viral propagation are especially severe in low- and middle-income developing nations where a lack of medical infrastructure and manual work is a major economic factor. Unfortunately, no preventive measures or medicinal remedies have been approved for humans to fight the infection.

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Market Restraints:

The most economical prevention for chikungunya sickness is the chikungunya vaccination. There isn't a marketable licensed preventative vaccine at the moment. The creation of vaccinations must take regulatory factors into account. The Food and Drug Administration (FDA) in the US controls the creation of vaccines. Before a vaccine may be used in the US, it must first receive FDA approval, guaranteeing its safety, quality, potency, and effectiveness.

COVID 19 Analysis

According to several nations across all continents, there is a widespread shortage of the raw materials needed for creating vaccines and pharmaceuticals. Since the supply chain limits were eliminated at the end of 2022, several governments will also be removing their supply chain restrictions. Several market participants have ramped up their vaccine development efforts. Additionally, the worldwide covid-19 epidemic has significantly impacted how clinical trials and scientific research are conducted. The difficulties of doing clinical research, mostly during the pandemic, led to the termination of the chikungunya clinical studies. The chikungunya virus (CHIKV) seems to be an arthropod-borne alphavirus spread by mosquitoes that results in a febrile disease marked by excruciating arthralgia and has the potential to become chronically disabling. For chikungunya infection, there is no approved particular antiviral treatment or vaccination. Chikungunya outbreaks have happened throughout the world, usually during tropical wet seasons.

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Chikungunya Vaccine Market Segmentation

By age group, the market includes pediatric, adult, and geriatric.

The market includes inactivated viral vaccine, recombinant viral vaccines, live-attenuated virus vaccines, and chimeric-alphavirus candidates by product technology.

By distribution channel, the market includes hospital pharmacies and retail pharmacies.

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Chikungunya Vaccine Market Regional Insights

Due to inner government subsidiaries and the underdeveloped healthcare system in the area, the market for chikungunya vaccines is expanding substantially in the rest of the world. Additionally, the spread of the chikungunya virus will lead to prosperous chances throughout the remainder of the world. Although chikungunya has previously been found in nations in Europe, Africa, Asia, and the areas surrounding the Indian and Pacific Oceans, the virus' local transmission was first discovered in the Caribbean. Since then, most of the Americas and the United States have been infected by the virus.

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