Pneumococcal Vaccine Market to Grow with a CAGR of 6.26% through 2028
Expanded immunization programs, augmented healthcare
spending, and government support are expected to drive the Global Pneumococcal
Vaccine Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Pneumococcal
Vaccine Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Pneumococcal Vaccine Market stood at
USD 9634.73 million in 2022 and is anticipated to grow with a CAGR of 6.26% in
the forecast period, 2024-2028. This can be attributed to synergistic global
efforts. Collaboration between pharmaceutical firms, non-profit organizations,
and international agencies has played a pivotal role in expanding vaccine
access, especially in underserved regions. Initiatives like Gavi, the Vaccine
Alliance, have facilitated the distribution of pneumococcal vaccines to
resource-constrained areas, further propelling market growth.
Furthermore, sophisticated surveillance systems and
data analytics are becoming indispensable tools for monitoring pneumococcal
disease trends. Real-time data collection and analysis enable healthcare
authorities to respond promptly to outbreaks and allocate resources more
effectively.
The COVID-19 pandemic had a profound global impact,
particularly in developing nations, and strained their healthcare systems,
causing significant repercussions not only for COVID-19 patients but also for
others. This disruption extended to research and development activities.
Interestingly, the outbreak of COVID-19 had a somewhat positive influence on
the pneumococcal vaccine market, as these vaccines found application in the
treatment of COVID-19. However, during the initial lockdown phases, immunization
programs were temporarily halted, later resuming at a different pace, which
affected market growth. Additionally, the increased utilization of pneumococcal
vaccines in COVID-19 patients contributed to market expansion. For example, a
December 2021 article in the Vaccine Journal concluded that underlying medical
conditions, along with COVID-19, increased the risk of pneumococcal pneumonia
and invasive pneumococcal disease. This emphasized the critical importance of
pneumococcal vaccination during the COVID-19 pandemic, supported by positive
study results in COVID-19 patients with underlying medical conditions, which in
turn boosted market growth during the crisis. Looking ahead, the market is
poised for significant growth due to increased research initiatives and
pipeline studies focused on pneumococcal vaccines worldwide.
Factors such as the rising burden of pneumonia cases,
government-driven awareness programs for pneumonia immunization, and the
introduction of innovative pneumococcal vaccines are expected to drive market
growth in the forecast period. For instance, in March 2022, the Ministry of
Health and Family Welfare launched the SAANS (Social Awareness and Actions to
Neutralize Pneumonia Successfully) Initiative as part of the National Health
Mission's efforts to reduce childhood pneumonia-related deaths in both rural
and urban areas. This initiative is anticipated to exhibit substantial growth
potential in the coming years.
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The Global Pneumococcal Vaccine Market is segmented
into type, indication, product, distribution, regional distribution, and
company.
Based on its type, Conjugate Vaccine is expected to
experience significant growth in the market during the projected period. This
can be attributed to several factors, including advancements and initiatives in
the field, increased strategic activities by key industry players, and a surge
in investments aimed at developing pneumococcal conjugate vaccines. These
factors are anticipated to drive growth within this particular segment.
Based on region, North America is poised to maintain a
substantial market share within the overall market in the forthcoming forecast
period. This is attributable to several key factors, notably the presence of
major industry players and a well-established healthcare infrastructure, which
collectively underpin its significant market presence. Additionally, the
region's noteworthy investments in pneumococcal vaccine development, coupled
with an uptick in pneumonia cases within the studied region, are anticipated to
fuel market expansion.
Major companies operating in Global Pneumococcal
Vaccine Market are:
- GSK PLC
- Pfizer Inc
- Merck KGaA
- Serum Institute of India Pvt Ltd
- CSL Ltd
- Sanofi SA
- Walvax Biotechnology Co., Ltd
- Beijing Minhai Biotechnology Limited
Company
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“The global pneumococcal vaccine market is on the
brink of a new era characterized by groundbreaking trends that promise to
reshape vaccination strategies and outcomes. From next-generation vaccines
offering broader protection to tailored solutions for various populations, the
market is evolving to meet the dynamic challenges posed by pneumococcal
diseases,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Pneumococcal Vaccine Market By
Type (Conjugate Vaccines, Polysaccharide Vaccines),
By Indication (Bronchitis, Meningitis, Pneumonia, Sepsis), By Product
(Pneumovax23, Prevnar 13, Synflorix), By Distribution (Government Authorities,
Non-Governmental Organizations), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Pneumococcal Vaccine Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Pneumococcal Vaccine Market.
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