Tick Borne Encephalitis Inactivated Vaccine Market Overview
As per MRFR analysis, the Tick Borne Encephalitis Inactivated Vaccine Market Size was estimated at 0.31 (USD Billion) in 2022. The Global Tick Borne Encephalitis Inactivated Vaccine Market Industry is expected to grow from 0.34(USD Billion) in 2023 to 0.83 (USD Billion) by 2032. The Tick Borne Encephalitis Inactivated Vaccine Market CAGR (growth rate) is expected to be around 10.38% during the forecast period (2024 - 2032).
Key Tick Borne Encephalitis Inactivated Vaccine Market Trends Highlighted
The Tick Borne Encephalitis Inactivated Vaccine Market is influenced by several key market drivers, including the rising prevalence of tick-borne diseases, increasing awareness about the severity of TBE and growing government initiatives to control the spread of the disease. Additionally, technological advancements in vaccine development, such as the development of new adjuvants and delivery systems, are driving market growth. Opportunities for market expansion lie in expanding vaccination coverage in endemic regions, exploring new vaccine formulations, and developing combination vaccines that protect against multiple tick-borne diseases. Recent trends in the market include the emergence of new vaccine manufacturers, increasing competition among existing players, and the growing adoption of prophylactic vaccination strategies.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Tick Borne Encephalitis Inactivated Vaccine Market Drivers
Rising Prevalence of Tick-Borne Encephalitis (TBE)
Tick-borne encephalitis (TBE) is a viral infection of the central nervous system that is transmitted through the bite of infected ticks. TBE is a serious disease that can cause a range of symptoms, from fever and headache to more severe neurological complications such as meningitis, encephalitis and paralysis. The incidence of TBE has been increasing in recent years due to a number of factors, including climate change, deforestation and increased outdoor activity.This rising prevalence of TBE is a major driver of the growth of the Tick Borne Encephalitis Inactivated Vaccine Market Industry, as more and more people seek vaccination to protect themselves from the disease.
Increased Awareness of the Importance of Vaccination
Causes of vaccine promotion have increased awareness during the last years in relation to some high-impact events associated with outbreaks of vaccine-preventable infections. This increased awareness has led to a greater demand for vaccines, including vaccines against TBE. The Tick Borne Encephalitis Inactivated Vaccine Market Industry is benefiting from this increased demand for vaccines as more and more people choose to get vaccinated against TBE.
Expansion of Geographic Reach
Despite being a global disease, TBE is most common in Europe and Asia. Recently, there has been an increase in the geographic reach of TBE as the disease has been reported in new areas of the world. As an outcome, the Tick Borne Encephalitis Inactivated Vaccine Market Industry is presented with new opportunities as more and more countries are opting to target their different populations with TBE vaccines.
Tick Borne Encephalitis Inactivated Vaccine Market Segment Insights
Tick Borne Encephalitis Inactivated Vaccine Market Dosage Type Insights
The Tick Borne Encephalitis Inactivated Vaccine Market is segmented by dosage type into single dose and multiple doses. The single-dose segment is expected to hold a larger market share in the coming years due to the increasing preference for convenience and ease of administration. The multiple doses segment, on the other hand, is expected to grow at a steady pace due to the need for booster doses to maintain immunity. In 2023, the single dose segment accounted for approximately 60% of the Tick Borne Encephalitis Inactivated Vaccine Market revenue.This dominance is attributed to the fact that single-dose vaccines offer several advantages over multiple-dose vaccines, including Convenience: Single-dose vaccines are more convenient for patients as they require only one visit to the healthcare provider.
This is especially beneficial for patients who live in remote areas or have busy schedules. Cost-effectiveness: Single-dose vaccines are often more cost-effective than multiple-dose vaccines, as they eliminate the need for multiple visits to the healthcare provider and the associated costs of transportation and time off work. Reduced risk of side effects: Single-dose vaccines are associated with a lower risk of side effects than multiple-dose vaccines, as the patient is exposed to the vaccine only once. However, the multiple doses segment is expected to grow at a CAGR of 5.5% over the forecast period.
This growth is driven by the increasing number of people traveling to endemic areas and the need for booster doses to maintain immunity. Multiple-dose vaccines are also preferred in certain populations, such as immunocompromised individuals, who may not be able to mount a sufficient immune response with a single dose.Overall, the Tick Borne Encephalitis Inactivated Vaccine Market is expected to grow significantly in the coming years, driven by the increasing awareness of the disease and the availability of safe and effective vaccines. The market is expected to be dominated by the single-dose segment, but the multiple doses segment is expected to grow at a steady pace.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Tick Borne Encephalitis Inactivated Vaccine Market Application Insights
The application segment is classified into prophylaxis and treatment. The prophylaxis application segment accounted for the largest TBE inactivated vaccine market share in 2023 and is expected to continue to dominate the market during the TBE inactivated vaccine market forecast period. This is primarily due to the increased understanding of tick-borne encephalitis and the availability of effective vaccines to prevent the disease. The treatment application segment is expected to witness fast-paced growth over the forecast period due to the increasing incidence of tick-borne infections and the development of novel and more effective treatment options.
Tick Borne Encephalitis Inactivated Vaccine Market End User Insights
The End User segment of the Tick Borne Encephalitis Inactivated Vaccine Market plays a crucial role in determining market dynamics. Hospitals are projected to dominate the segment, accounting for a significant share of the market revenue. This dominance can be attributed to the increasing number of tick-borne encephalitis cases and the availability of advanced healthcare infrastructure in hospitals. Clinics are also expected to contribute notably to the market growth, owing to their accessibility and convenience for patients. Travel Medicine Facilities cater to travelers who require vaccinations before visiting endemic regions, further boosting the market growth.Government Agencies play a vital role in implementing public health initiatives, including vaccination campaigns and disease surveillance, contributing to the overall market expansion.
Tick Borne Encephalitis Inactivated Vaccine Market Vaccine Formulation Insights
The Tick Borne Encephalitis Inactivated Vaccine Market segmentation by Vaccine Formulation includes Live Attenuated, Inactivated, Subunit and DNA/mRNA. Among these, the Inactivated segment held the largest market share of around 75% in 2023 and is expected to continue its dominance throughout the forecast period. The growth of this segment can be attributed to the well-established safety and efficacy profile of inactivated vaccines. Moreover, the increasing adoption of combination vaccines, which include inactivated TBE vaccines, is further driving the growth of this segment.
Tick Borne Encephalitis Inactivated Vaccine Market Distribution Channel Insights
The distribution channel segment plays a crucial role in the Tick Borne Encephalitis Inactivated Vaccine Market. In 2023, the wholesale distribution channel dominated the market, accounting for a significant share of the Tick Borne Encephalitis Inactivated Vaccine Market revenue. This channel involves the distribution of vaccines from manufacturers to wholesalers, who then distribute them to various healthcare providers. Retail pharmacies also hold a notable market share, providing convenient access to vaccines for patients. Online platforms are gaining traction, offering ease of purchase and home delivery.Government procurement is another key channel, with governments purchasing vaccines for public health programs and strategic stockpiles. The dynamics of the distribution channel segment are expected to continue evolving with the growth of e-commerce and the increasing role of governments in vaccine distribution.
Tick Borne Encephalitis Inactivated Vaccine Market Regional Insights
The Tick Borne Encephalitis Inactivated Vaccine Market is segmented into North America, Europe, APAC, South America and MEA. Among these regions, Europe dominates the market with a share of over 50%. The large population of Lyme disease patients in Europe, coupled with the high awareness of the disease and the availability of reimbursement policies for vaccination, drives the growth of the Tick Borne Encephalitis Inactivated Vaccine Market in this region. North America is the second-largest market for Tick Borne Encephalitis Inactivated vaccines, with a share of around 25%.The US is the major contributor to the growth of the Tick Borne Encephalitis Inactivated Vaccine Market in North America due to the high prevalence of Lyme disease in the country. The APAC region is expected to witness significant growth in the coming years owing to the increasing awareness of tick-borne diseases and the rising disposable income of people in this region. South America and MEA are expected to witness moderate growth in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Tick Borne Encephalitis Inactivated Vaccine Market Key Players And Competitive Insights
Major players in Tick Borne Encephalitis Inactivated Vaccine Market industry are consistently improving their strategies to strengthen their position and establish a strong foothold. These players are adopting various growth strategies such as partnerships, collaborations, acquisitions, and product launches to gain a competitive edge. The Tick Borne Encephalitis Inactivated Vaccine Market industry is characterized by the presence of a few leading players, including Valneva, Baxter International, GlaxoSmithKline Biologicals, Pfizer, Sanofi Pasteur and Merck Sharp & Dohme.
These companies hold a significant market share and have a strong global presence. They are continuously investing in research and development to expand their product portfolio and launch innovative vaccines. Leading Tick Borne Encephalitis Inactivated Vaccine Market players are focused on geographic expansion and diversification to increase their market reach and capture new customer segments. They are also actively pursuing strategic partnerships with regional distributors and healthcare providers to strengthen their distribution network.Valneva, a leading player in the Tick Borne Encephalitis Inactivated Vaccine Market, has a strong product portfolio and a well-established global presence. The company's success can be attributed to its commitment to innovation and its focus on developing vaccines for unmet medical needs.
Valneva has a proven track record of successful product launches and has a strong pipeline of promising vaccine candidates in development. The company's commitment to quality and safety has earned it a reputation for reliability and trustworthiness. Valneva's strategic partnerships with leading healthcare providers and distributors have helped it expand its reach and increase its market penetration.Baxter International, another key player in the Tick Borne Encephalitis Inactivated Vaccine Market, is a global healthcare company with a diverse portfolio of products and services.
The company's strength lies in its ability to provide comprehensive solutions for the prevention and treatment of infectious diseases. Baxter International has a strong track record of innovation and has developed several successful vaccines, including a vaccine for tick-borne encephalitis. The company's commitment to research and development has led to a pipeline of potential new vaccines that are expected to further strengthen its position in the market. Baxter International's global reach and strong distribution network allow it to effectively serve customers in various regions of the world.
Key Companies in the Tick Borne Encephalitis Inactivated Vaccine Market Include
- Merck Co., Inc.
- BioNTech SE
- Johnson Johnson
- Bavarian Nordic A/S
- Sinovac Biotech Ltd.
- GSK plc
- Sanofi S.A.
- Moderna, Inc.
- Valneva SE
- Inviragen Inc
- Pfizer, Inc.
Tick Borne Encephalitis Inactivated Vaccine Market Industry Developments
The global Tick-Borne Encephalitis (TBE) Inactivated Vaccine market is growing steadily, driven by factors such as increasing awareness of TBE, rising travel to endemic areas and government initiatives to prevent the disease. The market is expected to witness significant growth in the coming years, with a CAGR of 10.38% during the forecast period of 2024-2032.In 2023, the market was valued at USD 0.34 billion, and it is projected to reach USD 0.83 billion by 2032. Key players in the market include Pfizer, GlaxoSmithKline and Sanofi Pasteur. Recent developments in the market include the launch of new vaccines, such as TBE-007, which is expected to boost market growth in the coming years.
| Report Attribute/Metric |
Details |
| Market Size 2022 |
0.31(USD Billion) |
| Market Size 2023 |
0.34(USD Billion) |
| Market Size 2032 |
0.83(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
10.38% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Merck Co., Inc., BioNTech SE, Johnson Johnson, Bavarian Nordic A/S, Sinovac Biotech Ltd., GSK plc, Sanofi S.A., Moderna, Inc., Valneva SE, Inviragen Inc, Pfizer, Inc. |
| Segments Covered |
Dosage Type, Application, End User, Vaccine Formulation, Distribution Channel, Regional |
| Key Market Opportunities |
1.      Rising incidence of tickborne encephalitis 2.      Growing awareness of preventive measures 3.      Development of a new vaccine 4.      technologies Increasing government initiatives 5.      Expanding tourism in endemic areas. |
| Key Market Dynamics |
1.      Increasing tickborne disease cases 2.      Rising government initiatives and public awareness campaigns 3.      Growing focus on travel vaccinations 4.      Technological advancements in vaccine development 5.      Expanding healthcare infrastructure in emerging markets |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Tick Borne Encephalitis Inactivated Vaccine Market is expected to reach USD 0.34 billion in 2023.
The Tick Borne Encephalitis Inactivated Vaccine Market is expected to grow at a CAGR of 10.38% from 2024 to 2032.
The Tick Borne Encephalitis Inactivated Vaccine Market is expected to reach USD 0.83 billion by 2032.
Europe is expected to hold the largest share of the Tick Borne Encephalitis Inactivated Vaccine Market in 2023.
Asia Pacific is expected to grow at the highest CAGR in the Tick Borne Encephalitis Inactivated Vaccine Market from 2023 to 2032.
Key applications of Tick Borne Encephalitis Inactivated Vaccines include the prevention of Tick Borne Encephalitis virus infection in individuals at risk.
Key competitors in the Tick Borne Encephalitis Inactivated Vaccine Market include Pfizer, Sanofi Pasteur and Valneva.
Major factors driving the growth of the Tick Borne Encephalitis Inactivated Vaccine Market include rising incidence of tick-borne diseases, increasing awareness of Tick Borne Encephalitis, and government initiatives to promote vaccination.
Challenges faced by the Tick Borne Encephalitis Inactivated Vaccine Market include limited availability of vaccines, high cost of vaccination and lack of awareness in certain regions.
Future opportunities for the Tick Borne Encephalitis Inactivated Vaccine Market include the development of new vaccines, expansion into emerging markets and increasing awareness of Tick Borne Encephalitis.
