Typhoid Fever Vaccines Market Growth Report | 2021 to 2031
The Typhoid Fever VaccinesMarket was valued at US$ 376.76 million in 2021 and is expected to reach US$ 651.87 million by 2031. The market is expected to register a CAGR of 7.1% from 2023–2031. Penetration of combination typhoid vaccines is likely to remain key Typhoid Fever Vaccines Market trends.
Typhoid Fever VaccinesMarket Analysis
Rising Incidence and Mortality of Typhoid Accelerate Demand for Typhoid Conjugate Vaccines
According to the World Health Organization (WHO) March 2023 report, in 2019, an estimated 9 million people got sick due to typhoid fever, and 110,000 people die due to typhoid fever annually. Also, travellers are at high risk of developing typhoid fever, particularly in Asia and Sub-Saharan Africa. Therefore, with rising incidence and mortality cases, demand for typhoid vaccines is all-time high. For example, the WHO advises countries to adopt immunization by Typhoid Conjugate Vaccines (TCV) to control the disease in endemic regions. The TCV is the first typhoid vaccine suitable for children from six months of age and is the most preferred typhoid vaccine choice globally. The Global Vaccine Market Model (GVMM) estimated that the total market revenues for TCV in middle-income countries (MICs) and Low-Income Countries (LICs) are estimated to reach US$ 44 million, only representing a market share of approx—14%.
Source: GVMM
Further, the United Nations Children's Fund (UNICEF) holds more than 95% TCV vaccine market share particularly in Sub-Saharan Africa and South and Southeast Asia for LICs and MICs. The proper supply of TCV vaccines in Sub-Saharan Africa and South and Southeast Asia is done by UNICEF to reduce the high-burden typhoid fever cases among population. Therefore, rising prevalence and mortality associated due to typhoid fever proper demand and supply of typhoid vaccines to epidemic countries are the influencing factors responsible for typhoid fever vaccines market growth during 2021-2031.
Typhoid Fever VaccinesMarket Overview
Government intervention and smart vaccine delivery solutions continue to influence typhoid fever vaccines significantly. Government support for the typhoid immunization and rising incidence and mortality of typhoid are the most influential factors responsible for Typhoid Fever Vaccines Market growth. Combination typhoid vaccines is a key trend for Typhoid Fever Vaccines Market growth. Preclinical studies for developing trivalent typhoid/non-typhoidal salmonella glycoconjugate vaccine will provide lucrative market opportunity.
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Typhoid Fever Vaccines Market: Strategic Insights
Market Size Value in US$ 262.81 million in 2019 Market Size Value by US$ 525.32 Million by 2027 Growth rate CAGR of 9.3% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Typhoid Fever Vaccines Market: Strategic Insights
| Market Size Value in | US$ 262.81 million in 2019 |
| Market Size Value by | US$ 525.32 Million by 2027 |
| Growth rate | CAGR of 9.3% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Typhoid Fever VaccinesMarket Drivers and Opportunities
Government Support for the Typhoid Immunization to Favor Market
Government support for typhoid immunization accelerates the demand for vaccines globally. For example, the Commonwealth of Australia report reveals that children aged less than 2 and adults are recommended to receive typhoid vaccine if they are traveling to epidemic regions such as Sub-Saharan Africa and South and Southeast Asia. Also, children aged less than 2 and adults can receive 1 dose of parenteral typhoid vaccine, and children above 6 years of age and adults can receive 3 or 4 doses of oral typhoid vaccine.
Further, in Canada, typhoid vaccination is mandatory for travellers over 2 years of age who travel to South Asia, including Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. Therefore, government support for typhoid immunization program will contribute more for the typhoid fever vaccines market to grow exponentially during 2021-2031.
Preclinical Studies for Developing Trivalent Typhoid/Non-Typhoidal Salmonella Glycoconjugate Vaccine– An Opportunity
In February 2024, SK Bioscience and the International Vaccine Institute (IVI) announced that the typhoid conjugate vaccine developed by SK Bioscience achieved the WHO prequalification (PQ) for public procurement of the vaccine by the UN organizations resulting a boost for the global TCV supply. The Phase 2 clinical trial results of the "SKYTYPHOID" booster shot reveal that the two doses of the TCV in infants aged 6 to 23 months developed a strong immune response.
Additionally, several manufacturers are developing TCVs that are in the preclinical stage. For example, manufacturers are developing a trivalent typhoid/non-typhoidal Salmonella glycoconjugate vaccine particularly for population in Sub-Saharan Africa. Also, a multiple antigen presenting system (MAPS)--based typhoid and paratyphoid A vaccine development is still at the preclinical stage and is a promising alternative to the traditional conjugate vaccine. Therefore, clinical studies to develop innovative typhoid vaccine will provide lucrative market opportunities for the manufacturers ultimately driving Typhoid Fever Vaccinesmarket.
Typhoid Fever Vaccines
Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Typhoid Fever Vaccines Market analysis are candidature and services.
- Based on Vaccine Type, the Typhoid Fever Vaccines Market is segmented into live attenuated vaccine, capsular polysaccharide vaccines, conjugate vaccine, others. The capsular polysaccharide vaccines may hold a larger market share in 2023.
- Based on Route of Administration, the Typhoid Fever Vaccines Market is bifurcated into oral and injectable. The injectable segment may hold a larger market share in 2023.
Typhoid Fever Vaccines Market Share Analysis by Geography
The geographic scope of the Typhoid Fever VaccinesMarket report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America has dominated the Typhoid Fever Vaccines Market. In North America, US accounts considerable share for typhoid fever vaccines. North America represents the largest typhoid vaccine market share and revenue due to rising healthcare expenditure and development of innovative vaccines through clinical trials are the most influential factors responsible for market growth. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Typhoid Fever Vaccines
Market Report Scope
Typhoid Fever VaccinesMarket News and Recent Developments
The Typhoid Fever VaccinesMarket is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in them market for Typhoid Fever Vaccines and strategies:
- In November 2023, the Republic of Korea announced a new typhoid vaccine conjugate, "Bio-TCV typhoid conjugate vaccine (TCV)," to be licensed in Indonesia following marketing approval from Badan Pengawas Obat dan Makanan (BPOM), the national regulatory authority. The new vaccine, "Bio-TCV," is a Vi polysaccharide conjugated vaccine.
Typhoid Fever VaccinesMarket Report Coverage and Deliverables
The “Typhoid Fever VaccinesMarket Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Vaccine Type ; Route of administration , and Geography.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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