Yellow Fever Vaccine Market: Rising prevalence of dengue to drive the market
Yellow Fever Vaccine: Introduction
- Yellow fever is a serious, potentially deadly flu-like disease spread by Aedes aegypti mosquitoes, which also transmit dengue and Zika viruses. It's characterized by a high fever and jaundice. Jaundice is yellowing of the skin and eyes, which is why this disease is called yellow fever.
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- Yellow fever is typically transmitted from human to human through the bite of an infected Aedes aegypti mosquito. Symptoms of yellow fever include high fever, headache, fatigue, muscle pain, diarrhea, anemia, skin rashes, and vomiting. Yellow fever has high mortality rate and can cause various neurological complications. Yellow fever causes CNS manifestations, which includes any degree of impaired consciousness, abnormal neurological signs, delirium, and focal and generalized convulsions. Causes of neurological manifestations in yellow fever are due to high-grade fever. Numerous tests are available to confirm the diagnosis including detecting antibodies to the virus or its RNA. Management of yellow fever is a challenge that needs to be addressed.
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Key Drivers of Global Yellow Fever Vaccine Market
- The global yellow fever vaccine market is anticipated to expand rapidly in the near few years. Rising prevalence of dengue, increasing novel drug treatment, convenience of direct purchase, affordability of vaccine, high adoption and acceptance in developing markets, and innovations and developments in vaccine are key factors driving the market.
- The market is also witnessing certain restraints such as intense competition among existing players to develop new vaccine, high possibilities of side-effects of vaccine, complications and severity involved in taking wrong medications due to misdiagnosis or incorrect self-diagnosis, and lack of awareness among the rural population in developing and underdeveloped economies
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Hospitals to be Highly Attractive Segment
- In terms of end-user, the global yellow fever vaccine market can be classified into hospitals, diagnostic centers, point of care centers, and others
- The hospitals segment is expected to account for a major share of the global yellow fever vaccine market by 2031, due to easy access for outpatient department (OPD) patients to buy medicines
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North America to Offer Significant Opportunities in Yellow Fever Vaccine Market
- In terms of region, the global yellow fever vaccine market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is the leading market for yellow fever vaccine, in terms of revenue, followed by Europe. The U.S. accounted for a prominent share of the market in the region. Asia Pacific and Latin America are emerging markets, which are expected to witness robust expansion during the forecast period.
- Expansion of the market in these regions is attributed to a rise in incidence of yellow fever, expansion of the healthcare industry, and increase in government investment to develop healthcare infrastructure. The yellow fever vaccine market in countries such as China, India, and Brazil is projected to expand at high growth rate during the forecast period due to increased awareness about yellow fever disease and its treatment among the population in these countries.
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Key Players Operating in Global Yellow Fever Vaccine Market
The global yellow fever vaccine market is consolidated, with the presence of very less number of international and local players.
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