Global Tick-borne Encephalitis Vaccine Market is valued at USD 3272.5 Million in 2020 and is expected to reach USD 5018.9 Million by 2027 with a CAGR of 6.3% over the forecast period.
Global Tick-borne Encephalitis Vaccine Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing prevalence of tick-borne encephalitis, rising number of clinical trials for tick-borne vaccines, and growing government funding for improvement of healthcare are major factors anticipated to drive the growth of Global Tick-borne Encephalitis Vaccines Market.
Tick-borne encephalitis (TBE) is a severe viral illness caused by two closely related members of the family Flaviviridae. TBE is caused by a virus which is spread via the bite of an infected Ixodes ricinus tick. TBE led to serious acute central nervous system infection which may result in death or long-term neurological sequelae in 35–58% of patients. Tick-borne encephalitis vaccine is used for preventing tick-borne encephalitis disease. Humans got infected by the virus through infected ticks and consumption of unpasteurized milk, primarily from goats, occurs in certain regions. The requirement for extremely effective tick-borne encephalitis (TBE) vaccines has enlarged worldwide due to expansion of the endemic region of TBE viruses. In 1937, the first vaccine was developed against Tick-borne encephalitis. FSME-IMMUN Inject was the first TBE vaccine introduced in the 1970s and it has been constantly improving for enhancing immunogenicity and safety of vaccines.
The Covid-19 pandemic has also impacted the growth of the global tick-borne encephalitis vaccines market. Due to lockdown conditions, the research on the tick-borne encephalitis was temporarily paused and new vaccine production was disrupted. The Covid-19 vaccine production was main priority healthcare industry during pandemic which affected the global tick-borne encephalitis vaccines market.
The global tick-borne encephalitis vaccine market is segmented into on the basis of type, application and region & country level. On the basis of type, the global tick-borne encephalitis is divided into European TBE virus, Far Eastern TBE Virus, Siberian TBE Virus. On the basis of the end-user, the market is classified into pediatric vaccines, adult vaccines, and traveler vaccines.
The regions covered in global tick-borne encephalitis vaccine market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global tick-borne encephalitis vaccine market is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.
On August 16th , 2021; Pfizer’s TicoVac vaccine which vaccine against a tick-borne encephalitis (TBE) disease was approved by U.S Food and Drug Administration (FDA) for people above one year and older. This vaccine is useful to people who travelling to TBE endemic areas to prevent TBE in people one year of age and older. It was only TicoVac vaccine for ensuring U.S. grown-ups and youngsters against the TBE infection while visiting or living in TBE endemic regions. A large number of individuals in TBE endemic areas were secured by this vaccine since its first approval outside the U.S. 45 years prior. This approval assisted with confirm that individuals from the U.S. are likewise ready to get this vaccination if necessary, reflecting commitment to give health to all. This vaccine was developed by Pfizer’s using a master ‘seed’ virus that is similar to the TBE virus.
One of the major factors driving the expansion of the worldwide tick-borne encephalitis vaccine market is increasing prevalence of tick-borne encephalitis diseases. The increasing majority of infections with the virus result from infected ticks, which has regularly attached to the skin for few days. These increasing numbers of tick-borne encephalitis will increase the world tick-borne encephalitis vaccine market over the forecast period. For example; according to the World Health Organization (WHO); there are about 10,000 to 12,000 clinical cases of TBE are recorded every year. In addition, rising number of clinical trials is the also fostering the growth of the global tick-borne encephalitis vaccine market. The clinical trials in tick-borne vaccines for checking efficiency of vaccines are administrated which helps to develop market. For example; as per the news published on November 18th, 2021, a lab-stage mRNA vaccine targeting ticks may offer protection against lyme and other tick-borne diseases. In this trail scientists of Fikrig Lab at the Yale School of Medicine studied new laboratory-stage mRNA vaccine that teaches the immune system for recognizing the saliva from tick bites that it could prevent these bugs from feeding on and transmitting tick-borne diseases to people.
Furthermore, supportive government funding is also supplementing the global tick-borne encephalitis market growth. For example; The FY21 TBDRP is the Tick-Borne Disease Research Program (TBDRP) for supporting innovative, high-impact for tick-borne disease research at the U.S. Army Medical Research and Development Command (USAMRDC). In this programme the tick-borne encephalitis infection is diagnosed and drugs, antibodies, vaccines, or other novel methods that are administered to prevent human TBD.
However, high cost of tick-borne encephalitis vaccines may hamper the growth of the global tick-borne encephalitis vaccines market. In spite of that, need of effective tick-borne encephalitis vaccines and various advancements in this field by key players may provide more opportunities for the further growth of the market.
North America is expected to dominate the global tick-borne encephalitis vaccine market due to rising cases of tick-borne encephalitis, presence of key players and rising number of approvals for new vaccines in this region. For instance; according to Center of Disease Control and Prevention (CDC), there have been 50,865 cases of tick-borne encephalitis, in 2019. Increasing approvals by U.S Food and Drug Administration (FDA) are also fostering the market growth. For instance, as per the news published on August 13th, 2021, a tick-borne encephalitis (TBE) vaccine, TICOVAC, manufactured by Pfizer approved by FDA. Additionally, on August 5th, 2020, Bavarian Nordic announced the launch of distribution and marketing of Encepur a tick-borne encephalitis vaccine from GlaxoSmithKline plc (GSK).
Europe is fastest-growing region for the global tick-borne encephalitis market due to rising number of cases of tick-borne encephalitis infection, increasing awareness and supportive government initiatives for controlling the infection in this region. For instance; the tick-borne vaccination is compulsory by The Standing Committee on Vaccination (STIKO) to residents and people who travel to Germany and exposed to ticks. People got vaccinated against TBE and the costs of TBE vaccination are covered by the statutory health insurers.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 3272.5 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 5018.9 Million|
|Tables, Charts & Figures:||175|
|Top Key Companies||Pfizer, Merck & Co., Cochrane Collaboration, Sonic HealthPlus, Baxter International Inc., Superdrug Health, and others.|
|Segments Covered||By Type, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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