by The global Shigella Vaccines Market is estimated to be valued at US$574.20 million in 2021 and is expected to exhibit a CAGR of 6.4% over the forecast period 2022 to 2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Shigella vaccines are used to prevent shigellosis, a bacterial infection that causes diarrhea and dysentery. The vaccines offer several advantages, including reducing the severity and duration of the illness, preventing complications, and minimizing the likelihood of spreading the infection to others. With the increasing prevalence of shigellosis and the growing awareness about preventive measures, there is a rising demand for Shigella vaccines in the market.
Market Key Trends:
One key trend in the Shigella Vaccines Market is the focus on the development of novel vaccines. Various pharmaceutical companies, such as MSD Wellcome Trust Hilleman Laboratories Pvt. Ltd., Novartis (Novartis Vaccines Institute for Global Health), and GlaxoSmithKline plc, are investing in research and development activities to introduce more effective and efficient Shigella vaccines. These companies are aiming to improve the efficacy, safety, and affordability of the vaccines to address the unmet needs of the market. This trend is driven by the increasing global burden of shigellosis and the need for better preventive strategies to control the spread of the infection.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Shigella Vaccines market is relatively low. This is mainly due to the high barriers to entry, such as the need for significant investment in research and development, regulatory approvals, and manufacturing capabilities. Additionally, established players in the market have a strong foothold and brand recognition, making it difficult for new entrants to penetrate the market.
Bargaining power of buyers: The bargaining power of buyers in the Shigella Vaccines market is moderate. While buyers, such as healthcare organizations and governments, have the power to negotiate prices and demand high-quality products, the limited availability of alternative suppliers and the critical need for Shigella vaccines give suppliers an advantage in pricing and supply negotiations.
Bargaining power of suppliers: The bargaining power of suppliers in the Shigella Vaccines market is high. The market is dominated by a few key players who control the supply of vaccines. These suppliers have a significant influence over the pricing, availability, and distribution of Shigella vaccines. Additionally, the complex manufacturing process and stringent regulatory requirements further strengthen the suppliers’ bargaining power.
Threat of new substitutes: The threat of new substitutes in the Shigella Vaccines market is relatively low. Currently, Shigella vaccines are the primary preventive measure against Shigella infections. There are no widely accepted substitutes that offer the same level of protection. However, advancements in alternative treatments or therapies could pose a potential threat in the future.
Competitive rivalry: The competitive rivalry in the Shigella Vaccines market is intense. The market is characterized by the presence of several major players, each striving to gain a larger market share. These players engage in product development, collaborations, mergers, and acquisitions to strengthen their position in the market. The competition is driven by factors such as product efficacy, safety, cost-effectiveness, and market reach.
Key Takeaways
The global Shigella Vaccines market is expected to witness high growth, exhibiting a compound annual growth rate (CAGR) of 6.4% over the forecast period from 2022 to 2028. This growth is primarily driven by the increasing incidence of Shigella infections, particularly in developing regions. The rising awareness about preventive healthcare measures and the implementation of vaccination programs by governments are also contributing to the market growth.
In terms of regional analysis, Asia Pacific is expected to be the fastest-growing and dominating region in the Shigella Vaccines market. This can be attributed to the high incidence of Shigella infections in countries like India, China, and Bangladesh. The presence of a large population, lack of proper sanitation facilities, and poor hygiene practices contribute to the spread of Shigella bacteria in this region.
Key players operating in the Shigella Vaccines market include MSD Wellcome Trust Hilleman Laboratories Pvt. Ltd., Novartis (Novartis Vaccines Institute for Global Health), and GlaxoSmithKline plc. These key players have a strong market presence and are actively engaged in research and development activities to improve the efficacy and accessibility of Shigella vaccines. Additionally, collaborations and strategic partnerships with governments and healthcare organizations are further driving their market position.
Overall, the Shigella Vaccines market offers significant growth opportunities driven by the increasing incidence of Shigella infections and the need for effective preventive measures. However, the market is also characterized by intense competition and the dominance of established players, posing challenges for new entrants.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
