The global malaria vaccines market is expected to be valued at US$ 8.5 million in 2018 and is expected to witness a CAGR of 102.8% during the forecast period (2018 – 2024).
Nearly half of the global population is at risk of malaria as per stats released by the World Health Organization (WHO).
This in turn has led to increased inclination of various healthcare agencies towards addressing this major malady. Global non-profit organizations such as the Melinda Gates Foundation and PATH are working towards developing preventive measures and saving lives of many in the malaria affected regions.
Africa accounts for the largest number of malaria cases and hence, this region is the primary target of launching the first malaria vaccine developed by GlaxoSmithKline plc. Mosquirix received EU approval in 2015 and is presently being examined in Africa as a pilot study.
People in Africa use insecticide-treated mosquito nets and indoor-insecticide spraying for prevention against malarial vectors. Use of insecticide-treated mosquito nets in Africa increased by 80% during 2010-2015 (WHO). Moreover, a number of mosquito repellent products (patches, creams, coils, mats, liquids, etc.) are marketed globally.
Besides, non-profit organizations provide cheap and often free treatment facilities to the malarial affected population in Africa. Also, GSK has pledged to sell the vaccines at a much lower cost forgoing its huge profit margins to support the global malaria eradication programs. Furthermore, with more malarial vaccines under research pipeline, the malaria vaccines market is poised for significant growth in near future.
Malaria is a severe and widespread disease caused by a parasitic infection by protozoan Plasmodium when transmitted by various species of anopheles mosquitoes. In 2009, according to WHO, 214 Mn to 397 Mn clinical malaria cases were reported worldwide.
However, high estimates of around 515 Mn clinical cases of P. falciparum were projected in 2002.
Furthermore, malaria accounted for around 3% of the world’s total Disability Adjusted Life Years (DALYs) lost and around 10% in Africa alone. According to Centers for Disease Control and Prevention (CDC), there are around 156 types of Plasmodium species that infect various species of vertebrates.
Among the numerous plasmodium species, four are considered true parasites of humans, as they utilize humans almost exclusively as a natural intermediate host: P. falciparum, P. vivax, P. ovale and P. malariae. Over 85% of malaria mortality is due to P. falciparum. Around 90% of deaths caused by malaria in Sub-Saharan Africa is primarily due to P. falciparum.
Market Dynamics
The growing incidence of malaria globally and major players pledging for low profit margin over vaccines is expected to boost growth of the market for malaria vaccines market.
According to World Health Organization (WHO), in 2015, approximately 292,000 children in Africa died of malaria, at very early age of 5 years. Around 306,000 fatalities associated with malaria were reported worldwide in 2015, out of which around 90% cases were reported in Africa.
WHO also notes that first global malaria vaccines will be piloted in the regions of sub-Saharan Africa in 2018, with the funding to around US$ 15 Mn. The program is partly funded by the Bill & Melinda Gates Foundation and African Research Centers.
Major regions affected by malaria do not have an appropriate healthcare infrastructure and standard economic conditions, due to which they are unable to pay for the better treatments and drugs. Malaria is common in sub-Saharan and African region, due to poor sanitation and healthcare standards.
However, the vaccine is being developed by GSK at their lab in Belgium in collaboration with Path, which is an international non-profit organization. This ensures the cost effectiveness of the vaccine though it has taken around 30 years to develop at a cost of US$ 565 Mn.
The company pledges not to make a profit from sales of the vaccine and adheres to the price range of around US$ 5 per shot.
The WHO has established a Global Technical Strategy for Malaria 2016-2030 (GTS) in 2015 with certain defined goals, one of them aimed at eliminating malaria in at least 10 countries.
Similarly, the Indian government has established Drug Distribution Centers (DDCs) and Fever Treatment Depots (FTDs) in the rural areas for providing easy access to anti-malarial drugs.
Regular monitoring and surveillance by various government programs has helped to reduce malarial cases in India from 2.03 million in 2010 to 1.1 million in 2015.
Support from such national and global initiatives will drive malaria vaccines market growth during the forecast period.
Many such non-profit organizations and pharmaceutical companies are conducting research on malaria vaccines.
Approximately 31 trials are under progress for malaria vaccine development with a few being blood stage projects.
Availability of funds and government support programs will encourage commercialization of product with successful trial results, thus boosting the malaria vaccines market growth trajectory.
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