PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1438192
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1438192
According to Stratistics MRC, the Global Anthrax Vaccine Market is accounted for $12.9 billion in 2023 and is expected to reach $20.2 billion by 2030 growing at a CAGR of 6.5% during the forecast period. The Anthrax vaccine is a preventive measure designed to protect individuals from anthrax, a potentially serious bacterial infection caused by the bacterium Bacillus anthracis. Anthrax can affect humans and other animals, and it can occur in three forms: cutaneous (skin), inhalation, and gastrointestinal. The vaccine is primarily developed to safeguard military personnel, laboratory workers, and individuals at high risk of exposure to anthrax spores. The vaccine stimulates the immune system to produce antibodies against the protective antigen component of the bacillus anthracis bacterium.
According to an article published in the Veterinary World Journal in April 2021, the prevalence of anthrax globally was 28% from 2452 samples through the fixed effects model. The random effects model's continent-by-subgroup study showed that the pooled prevalence of anthrax was highest in Africa (29%) and lowest in North America (21%).
Increase in prevalence of anthrax
The market has witnessed a notable surge in prevalence, reflecting a growing concern for anthrax-related risks. This upswing has heightened demand for effective vaccines, prompting advancements in research and development. The increasing prevalence of anthrax underscores the imperative for comprehensive vaccination strategies, driving market growth and innovation. However, increasing awareness and education about anthrax vaccines is paramount for public health is the factor propelling the growth of the market.
Side effects and safety concerns
The anthrax vaccine, while effective in preventing anthrax, may cause mild to moderate side effects such as pain, swelling, or redness at the injection site. Some individuals may experience fever, muscle aches, or fatigue. Severe allergic reactions are rare but possible. Safety concerns include reports of adverse events, though the overall risk-benefit profile supports its use for those at high risk of anthrax exposure. These are the factors hampering the growth of the market.
Technological advancements
The market has witnessed significant technological advancements, with the development of next-generation vaccines incorporating innovative delivery systems and adjuvant to enhance efficacy and safety. Advanced biotechnological methods, such as recombinant DNA technology, have been employed to produce more effective and scalable vaccines. Additionally, advancements in formulation and storage technologies contribute to improved stability and ease of distribution.
High manufacturing costs
The complex production process, stringent quality control measures, and the need for specialized facilities contribute to elevated expenses. These high manufacturing costs not only impact the affordability of the vaccine but also pose challenges for market accessibility and widespread distribution, limiting its availability to a broader population. Addressing these cost-related barriers is crucial for enhancing the affordability and accessibility of anthrax vaccines. These are the factors hindering the growth of the market.
The COVID-19 pandemic has indirectly impacted the market, with shifts in healthcare priorities and resources. Attention and funding diverted to combat the pandemic may have slowed Anthrax vaccine research and development. Additionally, disruptions in supply chains and healthcare systems could affect manufacturing and distribution. However, the heightened focus on public health and biodefense may underscore the importance of anthrax vaccines, potentially leading to increased awareness and investment in the post-pandemic landscape.
The live attenuated vaccine segment is expected to be the largest during the forecast period
The live attenuated vaccine segment is expected to be the largest during the forecast period. Live attenuated vaccines for anthrax have gained prominence in the market, offering a promising approach to immunization. Leveraging weakened forms of the anthrax bacterium, these vaccines stimulate a robust immune response without causing the disease. The market for anthrax vaccines is witnessing a notable surge in demand for live attenuated options due to their efficacy in conferring long-lasting immunity.
The pharmacies segment is expected to have the highest CAGR during the forecast period
The pharmacies segment is expected to have the highest CAGR during the forecast period. These establishments serve as distribution points for anthrax vaccines, ensuring that individuals and healthcare providers can easily procure the necessary doses. Pharmacies also contribute to public health by offering information and guidance on vaccination schedules, potential side effects, and proper administration. Their involvement in the Anthrax Vaccine market enhances overall vaccine availability and promotes community protection against this serious infectious disease.
North America is projected to hold the largest market share during the forecast period. The region's robust healthcare infrastructure and rising awareness regarding bioterrorism threats contribute to market expansion. Key market players are actively engaged in research and development to enhance vaccine efficacy, fostering market competitiveness. Additionally, strategic collaborations between pharmaceutical companies and government bodies further propel market dynamics, ensuring a steady surge in demand for anthrax vaccines.
Asia Pacific is projected to hold the highest CAGR over the forecast period. Government initiatives promoting vaccination, coupled with advancements in healthcare infrastructure, contribute to market expansion. Key players in the region are focusing on research and development to enhance vaccine efficacy. The growing emphasis on public health measures and preparedness against bioterrorism incidents further propels the demand for anthrax vaccines in the region.
Key players in the market
Some of the key players in Anthrax Vaccine market include AstraZeneca, BioNTech SE, Colondo Serum Company, Emergent Bio Solutions, Merck & Co., Inc, Moderna Inc., Pfizer Inc, Proton Biopharma Ltd, Sanofi, Seqirus, Serum Institute of India Pvt. Ltd and ICON plc.
In October 2022, ICON plc was selected by the US Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response (ASPR) in the Department of Health and Human Services (HHS), to execute an anthrax vaccine clinical trial. The Anthrax vaccine AV7909 is currently under clinical trial evaluation.
In June 2022, Emergent BioSolutions Inc. was granted review acceptance of the Biologics License Application (BLA) for AV7909 (Anthrax Vaccine Adsorbed, Adjuvanted) from the US FDA. AV7909 is evaluated for post-exposure prophylaxis of disease following suspected or confirmed exposure to Bacillus anthracis in adults (age group 18 - 65). The Prescription Drug User Fee Act (PDUFA) goal date for a decision by the FDA is in April 2023.
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.