The global TCV vaccines market size was valued at USD 320 million in 2021 and is projected to reach around USD 820 million in 2030 exhibiting a CAGR of 12.0% in the forecasted period. The rising prevalence of typhoid and growing research, surging public initiatives for endorsing and progressing the development of ground-breaking products are anticipated to upsurge the market growth. However, restrictions related to available vaccines, reoccurrence of contrary events after immunization are the factors hindering the growth of the market in the forecasted period.
Public administrations such as the World Health Organization (WHO), Gavi, Bill & Melinda Gates Foundation, and others are extremely active in generating awareness about diseases such as typhoid and boosting immunization efforts against such diseases, which is projected to drive growth of the typhoid conjugate vaccines (TCV) market. For instance, in April 2018, Gavi selected US$ 85 million to fund introduction of this vaccine in low revenue nations across Africa and Asia region. Moreover, in October 2017, WHO suggested development of typhoid vaccine for children above six months in endemic areas such as Asia, Africa, the Caribbean, Latin America, and Oceania. It also acclaimed catch-up vaccination when possible, highlighting children and adolescents up to 15 years of age.
Furthermore, the World Health Organization (WHO) pre-qualified a typhoid conjugate vaccine (TCV) Typbar TCV, produced by Bharat Biotech in January 2018. This WHO pre-qualification allows the procurement and stock of this vaccine to UNICEF, the Pan-American Health Organization (PAHO), and GAVI (a vaccine association) supported nations. Additionally, in October 2017, WHO’s Strategic Advisory Group of Experts on Immunization (SAGE) re-emphasized the significance of the use of typhoid vaccines in low- and middle-income nations, as well as for the control of widespread typhoid.
During the COVID-19 pandemic, pharmaceutical business, clinical tool companies and similarly biotechnology firms are facing complications that are happening from the disruption in supply chains and the demand to alter service processes. Furthermore, there is slight influence on the TCV vaccines market as owing to lockdown and travel constraint there is a postponement in the vaccination timetable for infants. As the studies reveal that there is no relationship between COVID-19 and TCV vaccine. Therefore, COVID-19 restriction and transportation problem disturbs the TCV vaccine market.
Vaccine Brand Insights
Based on the vaccine brand, the global TCV vaccines market is segmented into annual Ty21a (Vivotif), ViCPS (Typhim Vi), Vi-TT (Peda-typhTM), and Typbar TCV. The Ty21a (Vivotif) segment holds the major market size throughout the forecasted period. Ty21a vaccines are worthy at dropping the risk of typhoid fever, and they have low rates of side effects. Approximately half of typhoid cases can be immobile in the first three years after receiving the oral Ty21a vaccine. In the first year, the injectable Vi polysaccharide vaccine stopped about two-thirds of typhoid cases, and by the end of the third year, it had stopped 55% of all typhoid cases. The efficiency of this vaccine has only been shown in kids over the age of two.
Distribution Channel Insights
Based on the distribution channel, the TCV vaccines market is segmented into public and private. The public segment to hold more CAGR during the forecasted period. The public segment is leading due to the growing awareness among people owing to the increase in government initiatives.
Region Insights
In 2021, North America appeared as the major market for the global TCV vaccines market, with a market share of about 34%. Owing to its healthcare infrastructure is rising quickly and the government expenditure is more on healthcare. The increase is due to the upsurge in the pharmaceutical industry, an advanced healthcare system, and a lot of money spent by individuals on healthcare. As more and more TCV injections are being made, the market is likely to develop.
However, the Asia-Pacific market is anticipated to grow at the fastest CAGR between 2021 and 2030, due to the growing demand for an increasing number of governments promoting the need for TCV vaccines to the individuals. Additionally, the growing awareness about the profits of TCV vaccines among people in the region is estimated to propel the market’s growth during the forecast period.
Key Companies Insights
The market for TCV vaccines is moderately competitive. With the rising applications of TCV vaccines, new players are considering to enter the market. The companies are also involved in activities like joint ventures, acquisitions, partnerships, mergers, and collaborations. These activities aid in growing the effect of the players in the TCV vaccines market, ultimately boosting the market growth.
Some of the key companies working in the global TCV vaccines market include:
• GlaxoSmithKline PLC
• Sanofi SA
• Bharat Biotech
• PT BIO FARMA
• Shanghai Institute of Biological Products Co., Ltd.
• Prokarium
• Bio-Med Pvt. Ltd.
• PaxVax, Inc.
• Other players
Some of the Recent Developments:
• In August 2018, University of Maryland, Baltimore, human services university in partnership with Bill and Melinda Gates Foundation and Groupe de Recherche Action en Sante carried out the study on Vi-Typhoid Conjugate Vaccine (Vi-TCV).
• In 2018, the World Health Organization (WHO) suggested typhoid conjugate vaccine (TCV) for use in all nations in which typhoid is endemic, selecting countries with the highest burden of typhoid disease or antimicrobial resistance.
Segments
By Vaccine Brand
• Ty21a (Vivotif)
• ViCPS (Typhim Vi)
• Vi-TT (Peda-typhTM)
• Typbar TCV
By Distribution Channel
• Public
o UNICEF
o Tender (Govt.)
• Private
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
Key Questions Answered in the Report:
- What will be the development pace of market? What is the growth rate of the global market?
- Who are the key manufacturers in the market space? Who are the world’s leading manufacturers?
- What are sales, revenue, and price analysis of the top manufacturers of market?
- Who are the distributors, traders, and dealers of market? What are the key factors driving the Global market?
- What are the market opportunities and threats faced by the vendors in the industries?
- What are deals, incomes, and value examinations by types and applications of the market?
- What are the primary factors driving market?
- What are the market’s advantages, disadvantages, and risks, as well as an overview of the market?
- Who are the Top Manufacturers in the Market in Terms of Sales, Revenue, and Price Analysis?
- Analysis of Industry Revenue, Sales, and Pricing, what is the difference between Equipment by region, type, and application?
