Conjugate Vaccine Market to Grow with a CAGR of 8.79% through 2028
Rising continuous advancements in vaccine technology are
expected to drive the Global Conjugate Vaccine Market growth in the forecast
period, 2024-2028.
According to TechSci Research report, “Conjugate
Vaccine Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Conjugate Vaccine Market stood at USD
12.24 billion in 2022 and is anticipated to grow with a CAGR of 8.79% in the
forecast period, 2024-2028. Vaccination has long been considered one of the
most effective methods of preventing infectious diseases. Among the various
types of vaccines available, conjugate vaccines have gained significant
traction in recent years. One of the primary drivers of the Global Conjugate
Vaccine Market is the growing awareness of the importance of preventive
healthcare. Governments, healthcare organizations, and individuals are
increasingly recognizing that it is more cost-effective and less burdensome to
prevent diseases than to treat them. Conjugate vaccines are highly effective in
preventing bacterial infections, making them a crucial component of vaccination
programs worldwide. Diseases like pneumococcal infections, Haemophilus
influenzae type b (Hib) infections, and meningococcal diseases have been
responsible for significant morbidity and mortality. Conjugate vaccines offer a
means to reduce the burden of these diseases, resulting in a higher demand for
such vaccines.
The global pharmaceutical and biotechnology industries
have witnessed remarkable technological advancements in vaccine development and
manufacturing. These innovations have had a profound impact on the Conjugate
Vaccine Market. Advanced biotechnological techniques have enabled researchers
to design and produce conjugate vaccines with improved efficacy and safety
profiles. These developments have accelerated vaccine production processes,
ensuring a steady supply of these critical immunization tools. Moreover,
advancements in adjuvant technology have enhanced the body's immune response to
conjugate vaccines, further boosting their effectiveness.
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In today's interconnected world, global travel and
migration have become commonplace. People frequently cross borders, potentially
carrying infectious diseases with them. This has heightened the need for
vaccines to prevent the spread of diseases across regions. Conjugate vaccines
targeting diseases such as meningitis and pneumonia have become essential for
travelers and migrants, contributing to the growth of the global market.
The Global Conjugate Vaccine Market is segmented into Product
Type, Disease Indication, End -User, Regional Distribution, And Company.
Based on the Product Type, the
Multivalent Conjugate Vaccines emerged as the dominant segment in the global
market for Global Conjugate Vaccine Market in 2022. Multivalent conjugate
vaccines offer protection against multiple strains or serotypes of a bacteria
or virus within a single vaccine formulation. This means that a single dose of
a multivalent vaccine can provide immunity against a range of related
pathogens. This comprehensive protection is highly advantageous in preventing
diseases caused by diverse strains, such as pneumococcal infections. It
simplifies vaccination schedules and reduces the need for multiple shots,
making it a preferred choice for healthcare providers and patients. Multivalent
vaccines are especially efficient in immunization programs, particularly for
paediatric populations. They reduce the number of vaccines that need to be
administered, easing the logistical burden on healthcare systems. This
efficiency is critical for achieving high vaccination coverage rates and
ensuring that more individuals are protected against infectious diseases.
Based on the Disease Indication, the
Pneumococcal segment emerged as the dominant player in the global market for
Global Conjugate Vaccine Market in 2022. Pneumococcal disease affects a broad
age range, from infants and young children to the elderly. This diverse
demographic impact necessitates the development and administration of
pneumococcal conjugate vaccines (PCVs) across different age groups, leading to
higher demand for these vaccines. Pneumococcal infections are a global health
concern, with varying serotypes prevalent in different regions. This global
reach makes pneumococcal conjugate vaccines essential for immunization programs
in many countries worldwide. Pneumococcal infections can lead to severe health
complications, including pneumonia, meningitis, and sepsis, resulting in
significant morbidity and mortality. The potential severity of these diseases
heightens the urgency to vaccinate individuals against pneumococcal infections.
Based on the End-User, the Hospitals
& Clinics segment emerged as the dominant player in the global market for
Global Conjugate Vaccine Market in 2022. Hospitals and clinics are
central hubs for healthcare services, providing a wide range of medical care,
including immunization and vaccination services. They serve as primary access
points for healthcare for individuals and communities. Hospitals and clinics
are key players in national and regional vaccination programs. They are often
responsible for organizing and administering vaccination campaigns, including
routine immunizations for children, adolescents, and adults. These programs are
essential for achieving high vaccination coverage rates and preventing the
spread of vaccine-preventable diseases. Many hospitals and clinics
have specialized vaccine centres or departments equipped with the necessary
infrastructure, trained healthcare professionals, and cold chain storage
facilities required for storing and administering vaccines, including conjugate
vaccines. These specialized centres are essential for maintaining the integrity
and effectiveness of vaccines.
North America emerged as the dominant player in the
global Conjugate Vaccine Market in 2022, holding the largest market share.
North America boasts a well-established and robust healthcare infrastructure,
which includes a network of hospitals, clinics, and healthcare facilities. This
infrastructure is pivotal for the storage, distribution, and administration of
conjugate vaccines, ensuring their accessibility to a large and diverse
population. The region has one of the highest levels of healthcare spending globally.
This substantial investment in healthcare not only supports vaccine procurement
and distribution but also facilitates extensive research and development
efforts for new conjugate vaccines. North America is home to some of the world's largest
pharmaceutical companies and vaccine manufacturers. These companies have a
significant presence in the region, driving innovation, production, and
distribution of conjugate vaccines. Their research and manufacturing
capabilities contribute to North America's dominance in the market.
Major companies operating in Global Conjugate
Vaccine Market are:
- Sanofi S.A
- Pfizer Inc.
- Merck & Co. Inc.
- GlaxoSmithKline plc
- Bharat Biotech
International Limited
- Serum Institute of
India Pvt. Ltd
- Biological E.
Limited
- Bavarian Nordic A/S
- CSL Limited
- Novartis AG
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“The Global Conjugate
Vaccine (SMO) Market is poised for significant growth in the coming years. The
increasing awareness of the importance of vaccination as a preventive
healthcare measure is fostering greater demand for conjugate vaccines. The
persistent threat of infectious diseases, coupled with emerging pathogens and
antibiotic resistance, underscores the urgency of vaccination as a primary
defense strategy. Moreover, ongoing research and development efforts are likely
to lead to the introduction of innovative conjugate vaccines that target a
broader spectrum of bacterial infections. Multivalent vaccines, offering
comprehensive protection against multiple strains, are expected to gain
prominence, further driving market growth. Additionally, the global aging
population, coupled with expanded pediatric vaccination programs, will bolster
demand for conjugate vaccines among both the elderly and children. Furthermore,
government initiatives, healthcare infrastructure improvements, and
international collaborations aimed at increasing vaccine accessibility are
anticipated to contribute to the market's expansion.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Conjugate Vaccine Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product
Type (Monovalent Conjugate Vaccines, Multivalent Conjugate Vaccine), By Disease
Indication (Pneumococcal, Influenza, Meningococcal, Typhoid), By End-User
(Hospitals & Clinics, Ambulatory care Centres, Others) By Region and
Competition”, has evaluated the future growth potential of Global Conjugate 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 Conjugate Vaccine Market.
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