The global Ebola Vaccine Market is estimated to be valued at US$ 5.83 Billion in 2023 and is expected to exhibit a CAGR of 32% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Ebola vaccine helps develop immunity against Ebola virus disease. The vaccine stimulates the immune system to produce antibodies and activate T-cells that fight against the infection. It reduces mortality and severe disease due to Ebola infection.
Market key trends:
The rising incidence of Ebola outbreaks is driving the demand for ebola vaccines. According to WHO, from 1976 to 2013, previous Ebola outbreaks were limited and infected less than 1,000 people but the 2014-2016 epidemic in West Africa infected over 28,000 people and killed more than 11,000. In May and June 2021, Guinea and Democratic Republic of Congo reported new Ebola outbreaks which increased the need for effective preventive measures including ebola vaccination. Approval and licensing of new ebola vaccines is another key trend, which will help boost their production and availability.
SWOT Analysis
Strength: The Ebola Vaccine market has strong growth potential owing to increasing research activities for development of novel and effective vaccine. There is a high unmet need for effective and safe Ebola vaccination across regions in Africa and some parts of Asia.
Weakness: High research and development cost involved in Ebola vaccine development poses a major challenge. Regulatory approvals are a long drawn process.
Opportunity: Increasing government support and funding for development of Ebola vaccine presents lucrative opportunities. Growing outbreak of Ebola virus diseases drives the demand.
Threats: Unpredictable nature and recurrence of Ebola outbreaks poses threats. Long approval timelines can delay commercialization. Competing priorities and alternative treatment options are threats.
Key Takeaways
The global Ebola Vaccine market share is expected to witness high growth, exhibiting CAGR of 32% over the forecast period, due to increasing research for development of effective and safe vaccine against the deadly Ebola virus.
Regional analysis: North America is expected to dominate the global Ebola Vaccine market over the forecast period. However, Africa is projected to witness the highest growth rate attributed to frequent Ebola outbreaks in the region creating demand for effective vaccination programs.
Key players: Major players operating in the Ebola Vaccine market include Merck & Co.Inc, GlaxoSmithKline plc, Mapp Biopharmaceutical, Nanoviricides Inc., Bavarian Nordic, Chimerix, Biocomo, Geneone Life Sciences Inc, NewLink Genetics Corporation, Novavax Inc, Johnson & Johnson Private Limited, Arbutus Biopharma, Sarepta Therapeutics, Hemispherx Biopharma Inc, IMV Inc, Peptineo, Biocryst Pharmaceuticals Inc. These players are involved in various strategic initiatives like partnerships, mergers and acquisitions to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
