Chikungunya Vaccine Market

• The growing prevalence of emerging and re-emerging infectious diseases will boost the Chikungunya Vaccine market growth

The Chikungunya virus (CHIKV), which causes the illness, is spread to people by infected mosquitoes. The mosquito species most frequently implicated in the chikungunya transmission cycle are Aedes albopictus and Aedes aegypti. The European Institute for Disease Prevention and Control announced that as of August 2022, there were 229,029 cases of chikungunya registered worldwide, along with 41 fatalities.

With people coming into closer contact with wild animals, traveling much more frequently and far greater distances than in the past and living in more densely populated areas, the potential for emerging infectious diseases to spread rapidly and cause epidemics is a major concern. There is also the potential for diseases to emerge due to the deliberate introduction into animal, human, or plant populations for terrorist purposes. 

There are about 40 infectious diseases that have been discovered, including SARS, MERS, Ebola, chikungunya, avian flu, swine flu, Zika, and most recently, COVID-19. Experts have warned future pandemics and epidemics to be even more lethal than COVID-19. The rising prevalence of these infectious diseases will ensure a continued and growing demand for vaccines in the coming years. Thus, factors like the emergence of new diseases will ensure better R&D funding initiatives, a strong pipeline, and new vaccine opportunities for large population segments and drive the Chikungunya Vaccine market growth.

For instance, the worldwide biopharmaceutical business of Takeda Pharmaceutical Company Ltd (Takeda) is patient-focused, values-based, and R&D-driven. It is among the biggest pharmaceutical firms in Asia. The company's primary therapeutic areas of interest are oncology, gastrointestinal, the central nervous system, uncommon disorders, and vaccines. It provides more people worldwide with transforming treatment and extremely creative medications. It is in almost 80 countries and holds the top spots in the U.S. and Japan. A vaccine product is the chikungunya vaccine (TAK-507). Therefore, recent developments related to vaccines have enhanced the Chikungunya Vaccine market CAGR globally.

The competitive pipeline, which includes items from established and up-and-coming businesses, is another significant element fueling market expansion. These firms are trying to get the regulatory agencies' permission for their items since the market is so diverse and large. Continuous R&D and a focus on releasing fresh goods are the key challenges many businesses encounter. Of the top 10 players, businesses like Inovio Pharmaceuticals, Novavax, and Bavarian Nordic are anticipated to have chances for their product pipelines shortly. Potential pipeline candidates anticipated to contribute favorably to the Chikungunya Vaccine market revenue include Pfizer, GSK, Sanofi, and Merck.

The increasing incidence of Chikungunya fever globally is a primary driver for the Global Chikungunya Vaccine Market Industry. As more cases are reported, particularly in tropical and subtropical regions, the demand for effective vaccination strategies intensifies. For instance, the World Health Organization has documented a rise in cases, with millions affected in recent years. This surge in incidence not only raises public health concerns but also prompts governments and health organizations to prioritize vaccine development and distribution. Consequently, the market is projected to grow from 0.3 USD Billion in 2024 to 0.87 USD Billion by 2035, reflecting a growing recognition of the need for preventive measures.

Government initiatives aimed at combating vector-borne diseases significantly influence the Global Chikungunya Vaccine Market Industry. Various countries are allocating substantial resources to research and development of vaccines, recognizing the economic burden posed by outbreaks. For example, funding from national health agencies and international organizations is directed towards vaccine trials and public health campaigns. This financial support not only accelerates the development process but also enhances public awareness about vaccination. As a result, the market is expected to witness a compound annual growth rate of 10.12% from 2025 to 2035, driven by these proactive measures.

Global travel and urbanization trends are significant drivers of the Global Chikungunya Vaccine Market Industry. As urban populations expand and international travel increases, the risk of Chikungunya transmission rises. Urban areas often provide ideal breeding grounds for the Aedes mosquitoes that transmit the virus. Consequently, travelers to endemic regions may inadvertently contribute to the spread of the disease. This dynamic creates an urgent need for vaccination to protect both residents and travelers. The market is expected to respond to these trends with increased vaccine availability and distribution, aligning with the projected growth in market value.

Increased public awareness and education regarding Chikungunya fever and its prevention are driving factors for the Global Chikungunya Vaccine Market Industry. Health campaigns aimed at informing the public about the symptoms, transmission, and prevention methods are becoming more prevalent. This heightened awareness leads to greater acceptance of vaccination as a preventive measure. For example, community outreach programs and educational materials distributed by health organizations are fostering a more informed populace. As awareness grows, the demand for vaccines is likely to increase, contributing to the market's anticipated growth trajectory over the coming years.

Technological advancements in vaccine development play a crucial role in shaping the Global Chikungunya Vaccine Market Industry. Innovations in biotechnology, such as mRNA technology and viral vector platforms, are paving the way for more effective and safer vaccines. These advancements enable faster production and more robust immune responses, which are essential in addressing emerging infectious diseases. For instance, the application of novel adjuvants is enhancing vaccine efficacy, thereby increasing public trust and uptake. As these technologies continue to evolve, they are likely to contribute significantly to market growth, aligning with the projected increase in market value from 0.3 USD Billion in 2024 to 0.87 USD Billion by 2035.

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. North America Chikungunya Vaccine market accounted for USD 0.11 billion in 2022 with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the study period. Due to various variables like vaccination awareness, strong manufacturers, and solid government policy surrounding health welfare, the market in North America is predicted to develop gradually and hold the dominating market position. It also emphasizes the implementation of vaccination throughout the nations of North America with appropriate financial policies.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: CHIKUNGUNYA VACCINE MARKET SHARE BY REGION 2022 (%) 

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

The value of the Asia Pacific Chikungunya Vaccine market is anticipated to expand dramatically. The Asia Pacific region's diverse economic development levels lead to various vaccination strategies. Because of the growing populations of China and India, Japan has the largest market share in the Asia Pacific region. The main cause of the increased demand for injections is this aspect. Moreover, the China Chikungunya Vaccine market held the largest market share, and the India Chikungunya Vaccine market was the fastest-growing market in the Asia-Pacific region.

The Europe Chikungunya Vaccine market is anticipated to increase steadily due to the rising need for immunization to address chronic illnesses that especially call for vaccination. The government's introduction of vaccine implementation initiatives is also anticipated to stimulate market expansion. Further, the Germany Chikungunya Vaccine market held the largest market share, and the U.K. Chikungunya Vaccine market was the fastest-growing market in the European region.

Leading major market players companies are investing a lot of money in R&D to expand their product offerings, which will spur further market expansion for Chikungunya Vaccine. With significant industry changes, including new product launches, mergers and acquisitions, contractual agreements, higher investments, and collaboration with other organizations, market developments are also undertaking various strategic activities to expand their presence. To grow and remain in a market that is becoming more and more competitive, Chikungunya Vaccine industry competitors must provide affordable products.

Manufacturing locally to cut operational costs is one of the main business methods producers use in the Chikungunya Vaccine industry to benefit customers and increase the market sector. The Chikungunya Vaccine industry has recently given medicine some of the most important advantages. The Chikungunya Vaccine market major player such as Takeda Pharmaceutical Company Limited (Japan), Valneva SE (France), Moderna Inc (China), Emergent BioSolutions Inc (U.S.), Bharat Biotech International Limited (India), Thermis Bioscience GmbH (Austria), Auro Vaccine LLC (U.S.)Company.

With its headquarters in Saint-Herblain, France, Valneva SE is a French biotech firm that creates and sells vaccines for infectious illnesses. Reports that it has finished rolling submission of the Biologics License Application (BLA) for its single-shot chikungunya vaccine candidate, VLA1553, to the U.S. Food and Drug Administration (FDA) in December 2022. For anyone over the age of 18, Valneva is requesting clearance for its experimental chikungunya vaccine.

Merck Group, which was established in Germany in 1668 and of which it was once the American arm, Merck & Co., Inc., is an American pharmaceutical corporation with its headquarters in Rahway, New Jersey. Outside of the United States and Canada, the corporation trades as Merck Sharp & Dohme or MSD. Following a Phase II status report, Merck's chikungunya fever vaccine study shows an 11-point increase in its likelihood of moving on to the next stage.