PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1449633
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1449633
The global cholera vaccines market was valued US$ 82.5 Mn in 2023 and is expected to reach US$ 204.6 Mn by 2031, growing at a compound annual growth rate (CAGR) of 12% from 2024 to 2031.
Report Coverage | Report Details | ||
---|---|---|---|
Base Year: | 2023 | Market Size in 2023/2024: | US$ 82.5 Mn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 - 2031 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 12.00% | 2030/2031 Value Projection: | US$ 204.6 Mn |
Cholera is a bacterial disease that usually spreads through contaminated water. It causes severe diarrhea and dehydration and can be fatal within hours if left untreated. The disease is most prevalent in areas with inadequate water treatment, poor sanitation, and inadequate hygiene, such as Africa, Southeast Asia, and Haiti. The World Health Organization (WHO) and the UN Children's Fund (UNICEF) have warned that cholera is making a devastating comeback, particularly targeting vulnerable communities. The risk of a cholera epidemic is highest when poverty, war, or natural disasters force people to live in crowded conditions without adequate sanitation. Cholera is a disease of poverty, affecting people with inadequate access to safe water and basic sanitation. The infection is not likely to spread directly from one person to another; therefore, casual contact with an infected person is not a significant risk factor for becoming ill. In terms of prevention, a multifaceted approach is key to controlling cholera and reducing deaths. This includes ensuring access to safe water, adequate sanitation, and hygiene, as well as vaccination in high-risk areas.
Key drivers favoring the growth of global cholera vaccines market include the rising burden of cholera disease globally, growing focus on preventing cholera outbreaks, and the development of novel oral vaccines with a longer duration of protection. However, factors such as insufficient access to vaccines in low-income regions, and a lack of awareness about immunization in certain communities continue to restrain the market potential to a certain extent. On the optimistic side, increasing investments in the research of vaccines providing cross-protection against multiple serotypes open up new avenues. Partnerships between makers and international organizations for improving availability in endemic areas also present attractive opportunities over the next few years.