The pneumococcal vaccines market is primarily driven by the increasing focus on immunization programs globally. Various governments and non-profit organizations are focusing on vaccinating people to prevent pneumococcal diseases. For instance, according to the World Health Organization (WHO), childhood immunization programs have prevented more than 25 million future pneumonia cases in 74 low and middle-income countries since 2000.
Request a Sample Copy of the Report @ https://www.coherentmarketinsights.com/insight/request-sample/2295
Furthermore, the increasing cases of pneumococcal diseases globally are also contributing to the growth of the market. Pneumonia is one of the leading causes of death among children under 5 years of age, claiming lives of over 800,000 children each year globally.
Market Trends
Growing production of conjugate vaccines is a key trend gaining traction in the pneumococcal vaccines market. Conjugate vaccines aim to generate immune response towards multiple serotypes of pneumococcal bacteria. Companies are focusing on developing higher valent conjugate vaccines with coverage for more serotypes. For instance, in February 2021, Pfizer received approval from the U.S FDA for 20-valent pneumococcal conjugate vaccine (Vaxneuvance) for prevention of invasive disease.
Pneumococcal Vaccines Market Report Coverage
|
Report Coverage |
Details |
|
Market Revenue in 2024 |
$8.92 billion |
|
Estimated Value by 2031 |
$12.51 billion |
|
Growth Rate |
Poised to grow at a CAGR of 4.9% |
|
Historical Data |
2019–2023 |
|
Forecast Period |
2024–2031 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Vaccine Type, By Target Population, By Route of Administration, By Distribution Channel |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Growth Drivers |
• Increasing prevalence of pneumococcal diseases • Advancement in vaccine technologies |
|
Restraints & Challenges |
• High costs associated with vaccine development • Side effects associated with vaccines |
Additionally, partnerships and collaboration between manufacturers for development and commercialization of novel pneumococcal vaccines will also support the market growth over the forecast period.
Market Opportunities
The rising prevalence of pneumonia across all age groups is expected to drive the growth of the pneumococcal vaccines market during the forecast period. The incidence of this disease in older adults is also rising at an alarming rate. This has increased the demand for efficient vaccines to prevent various pneumonia-causing strains of Streptococcus pneumoniae.
The pneumococcal conjugate vaccines help protect infants and young children with a 13-valent or 10-valent vaccine. This will propel the sales of preventive pneumococcal vaccines globally.
Immediate Delivery Available | Buy This Premium Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/2295
Over the past few years, various governments across major markets have increased their support for immunization programs by expanding coverage and access to pneumococcal vaccines. Several developing nations have introduced pneumococcal conjugate vaccines in their national immunization programs with funding support from global health organizations. For instance, Gavi, the Vaccine Alliance has aided in introducing PCV into routine childhood immunization programs of over 70 countries.
Rising government support for immunization and reducing disease burden through vaccination programs will create new revenue streams for pneumococcal vaccine manufacturers.
Key Market Takeaways
The global pneumococcal vaccines market is anticipated to witness a CAGR of 4.9% during the forecast period 2024-2031. This is owing to rising prevalence of pneumonia globally.
On the basis of vaccine type, the conjugate vaccine segment is expected to hold a dominant position, owing to its high efficacy against pneumococcal disease.
On the basis of product type, Prevnar 13 is expected to hold the largest share due to preference among healthcare providers.
By distribution channel, distribution partner companies segment is expected to hold the largest market share due to their extensive networks.
On the basis of region, North America is expected to hold a dominant position over the forecast period, due to higher adoption of pneumococcal vaccines.
Competitor Insights
- Serum Institute of India Pvt. Ltd.
- CSL
- Sanofi
- GSK plc
- Merck & Co., Inc.
- Pfizer Inc.
- Walvax Biotechnology Co., Ltd
- Beijing Minhai Biotechnology Co.,Ltd
Recent Developments
In January 2024, Pfizer Inc. received marketing authorization from the Committee of Medicinal Products designed for Human Use (CHMP) of the European Medicines Agency (EMA) for its 20-valent pneumococcal conjugate vaccine candidate (20vPnC).
In October 2023, Vaxcyte, Inc. collaborated with Lonza for a new commercial manufacturing agreement. With this collaboration, Vaxcyte plans to expand its commercial manufacturing capacity for its PCV candidates.
Ask for Customization @ https://www.coherentmarketinsights.com/insight/request-customization/2295
Detailed Segmentation-
By Vaccine Type
- Pneumococcal Conjugate Vaccines (PCVs)
- PCV13 (Prevnar 13/Prevenar 13)
- PCV10 (Synflorix)
- PCV7 (Prevnar/Prevenar)
- Pneumococcal Polysaccharide Vaccines (PPVs)
- PPSV23 (Pneumovax 23)
- PPSV14 (Pneumo 14)
By Target Population
- Adults (≥ 65 years)
- Children (< 5 years)
- High-Risk Adults (18-64 years)
By Route of Administration
- Intramuscular
- Subcutaneous
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Contact Us:
Mr. Shah
Senior Client Partner – Business Development
Coherent Market Insights
Phone:
US: +1-650-918-5898
UK: +44-020-8133-4027
AUS: +61-2-4786-0457
India: +91-848-285-0837
Email: sales@coherentmarketinsights.com
