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How has the yellow fever vaccine market grown over the years?

The vaccine industry for yellow fever has experienced robust growth in the past few years. The size of the market is projected to escalate from $4.54 billion in 2024 to $4.79 billion in 2025, with a compound annual growth rate (CAGR) of 5.4%. Factors contributing to this historical growth include the launch of global vaccination initiatives, enforcement of international health regulations, large-scale immunization drives, and advancements in the technology for vaccine production.

What Is the forecasted market size and growth rate for the yellow fever vaccine market?

The market size for the yellow fever vaccine is anticipated to see a significant increase in the coming few years. The market is projected to reach $5.84 billion in 2029 with a compound annual growth rate (CAGR) of 5.1%. This projected growth in the forecast period can be linked to factors such as heightened collaboration and partnerships, integration with regular vaccination timetables, enhanced surveillance and monitoring, increased participation from the private sector, and the adoption of digital technology for tracking vaccines. During the forecast period, major trends will include diversifying vaccine formats, preparing for pandemics, regulatory modifications, advancements in healthcare infrastructure, as well as consumer education and growing awareness.

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What are the major factors driving growth in the yellow fever vaccine market?

The surge in global voyages is projected to drive the yellow fever vaccine market’s expansion. When it comes to international travel, it encompasses individuals crossing national boundaries for reasons such as tourism, business, or personal matters. Owing to an upsurge in global connectivity, economic development, and post-pandemic travel regulations relaxation, the volume of international travelers is on the rise. Vaccine for yellow fever is either mandatory or recommended for individuals traveling to areas where yellow fever is prevalent in order to prevent the disease and adhere to international health rules. In January 2024, the World Tourism Organization, a Spain-based agency, reported that there were 1.286 billion global tourists (overnight visitors) in 2023, as opposed to 960 million international tourists (overnight visitors) in 2022. This indicates a 326 million increase in international tourists from 2022 to 2023. Hence, the escalating international travel is steering the advancement of the yellow fever vaccine market.

What key areas define the segmentation of the global yellow fever vaccine Market?

The yellow fever vaccine market covered in this report is segmented –

1) By Product: Powder, Liquid

2) By Treatment Type: Pain Management Drugs, Oral Rehydration

3) By Application: Routine Immunization, Travelers, Other Applications

4) By End-User: Hospitals, Diagnostic Centers, Point Of Care Centers, Other End Users

Subsegments:

1) By Powder: Lyophilized Powder For Reconstitution, Freeze-Dried Powder For Reconstitution

2) By Liquid: Ready-To-Use Liquid Vaccine, Liquid Vaccine In Pre-Filled Syringes

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Who are the key players steering the development of the yellow fever vaccine market?

Major companies operating in the yellow fever vaccine market are Merck and Co Inc., Sanofi S.A., GSK plc, Takeda Pharmaceutical Company, Lonza Group Ag, WuXi Biologics, Novavax Inc., Beijing Tiantan Biological, Bavarian Nordic A/S, Valneva SE, Biological E. Limited, Bio-Manguinhos, Instituto Butantan, Bio Farma, Panacea Biotec, Biovac, Institut Pasteur de Dakar, Ology Bioservices, Gavi, Wuhan Institute of Biological Products, PnuVax Incorporated, iBio Inc.

What are the key trends shaping the future of the yellow fever vaccine market?

Notable corporations in the yellow fever vaccine market are zeroing in on creating superior next-gen yellow fever vaccines, such as the T-cell adaptive booster vaccine, in response to the growing worldwide demand for vaccines. The T-cell adaptive booster vaccine is custom-made to bolster the immune system’s memory T-cell response, empowering lasting and strong immunity against specific infections. For instance, Emergex Vaccines Holding Limited, a biotech firm based in the UK, joined forces with ATCC, a US-based non-profit entity supplying research and development resources, to launch CD8+ T-cell adaptive vaccines in April 2022. These vaccines, custom-made for yellow fever, aim to invoke a strong cytotoxic T-cell reaction, which is vital for detecting and eradicating cells infected by viruses. By enhancing the production of memory CD8+ T-cells, these vaccines assure heavy-duty and enduring immunity. They emphasize a cellular immune response over mere antibody production, thus promising wide-ranging defense against yellow fever while potentially boosting effectiveness for individuals with various immune profiles.

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What regions are contributing significantly to the growth of the yellow fever vaccine market?

North America was the largest region in the yellow fever vaccine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the yellow fever vaccine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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