The global tick-borne encephalitis vaccine market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Tick-borne encephalitis vaccine is used against tick-borne encephalitis virus, which spread by bites of virus-infected ticks, affecting the brain and spinal cord. The major symptoms that result due to tick-borne encephalitis infection include high temperature (fever), agitation, headache, sickness (vomiting), and confusion. The major factors that drive the growth of the market include the surge in prevalence of tick-borne encephalitis, particularly in Europe, and increased government funding on healthcare facilities. In addition, an increase in drug development fuels market growth.
As per the geographical analysis, the cases of this infection are growing quickly and is largely being registered in several parts of Asia and Europe. The highest number of cases occurs in Russia. This rise in the number of cases is driving the growth of the Tick-borne Encephalitis Vaccine Market. However, the high cost of vaccines is the major restraint of the market. On the contrary, untapped economies with unmet medical needs are anticipated to provide lucrative opportunities for market growth.
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Some key players operating in the market include Pfizer Inc., GlaxoSmithKline plc, and Baxter International Inc., among others. The market players are adopting several strategies, such as mergers and acquisitions, product launches, and partnerships and collaborations. For instance, in February 2021, Pfizer declared that the US FDA has granted a fast review for TicoVac tick-borne encephalitis (TBE) vaccine, to prevent the disease in individuals one year of age or older. If approved TicoVac would be the first shot to support protect adults and children who are visiting or living in areas where TBE is endemic.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
Segment Covered-
- By Virus Type
- By Application
Regions covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape: Pfizer Inc., GlaxoSmithKline plc, and Baxter International Inc., among others.
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Global Tick-Borne Encephalitis Vaccine Market Report by Segment
By Virus Type
- European TBE Virus
- Far Eastern TBE Virus
- Siberian TBE Virus
By Application
- Pediatric
- Adult
- Traveler
Global Tick-Borne Encephalitis Vaccine Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
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