The global pneumococcal vaccines market is poised to exhibit steady growth, with an anticipated Compound Annual Growth Rate (CAGR) of 4.1% during the forecast period. According to the latest insights from Future Market Insights, the market’s valuation reached US$ 8.9 Billion in 2023, and it is expected to surpass US$ 13.3 Billion by 2033.
Analysts at Future Market Insights have recorded a historical market valuation of US$ 8.5 Billion for the pneumococcal vaccines market during the base year, underlining the sector’s sustained growth trajectory.
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Pneumococcal vaccines play a crucial role in preventing diseases caused by Streptococcus pneumoniae bacteria, including pneumonia, meningitis, and bloodstream infections. With increasing awareness about the importance of vaccination and rising initiatives by healthcare organizations worldwide, the demand for pneumococcal vaccines is anticipated to witness significant growth over the forecast period.
Key factors contributing to the market’s growth include advancements in vaccine development technologies, expanding immunization programs, and rising investments in healthcare infrastructure. Additionally, the growing prevalence of pneumococcal infections, particularly among children and the elderly, underscores the urgent need for effective vaccination strategies.
The projected growth of the pneumococcal vaccines market signifies opportunities for stakeholders, including vaccine manufacturers, healthcare providers, and policymakers, to collaborate and address the global burden of pneumococcal diseases.
The factors supporting the growth of the pneumococcal vaccines industry is spot on. Here’s a breakdown of why each element contributes:
- Increased awareness of immunization: As people become more informed about the importance of vaccination, they’re more likely to seek out pneumococcal vaccines for themselves and their children.
- Government initiatives: Government support for vaccination programs makes pneumococcal vaccines more accessible and encourages people to get vaccinated, expanding the market.
- Rising prevalence of pneumococcal infections: With a growing population, there’s a higher chance of pneumococcal infections spreading. This fuels the demand for vaccines to prevent these illnesses.
- New and improved vaccines: Development of novel vaccines with broader protection or targeting specific age groups expands options and attracts more people to get vaccinated.
- Prevalence of related diseases: The rise in diseases like meningitis and pneumonia caused by pneumococcus creates a strong need for preventative measures like vaccination.
Overall, these factors create a positive outlook for the pneumococcal vaccines industry, with a projected growth in the coming years.
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Key Takeaways from the Pneumococcal Vaccines Market:
- The pneumococcal vaccines market has witnessed an unprecedented surge of US$ 0.4 Billion from the base year to the current.
- The pneumococcal vaccines market is estimated to advance forward at a moderate pace, registering a CAGR of 4.1% through the forecast period.
- The Prevenar-13 segment by product type category has accounted for the highest share of the pneumococcal market with US$ 9,500 Million in 2023.
- The public authorities segment by distribution channel category is estimated to hold dominant shares, trailing at a CAGR of 6.8% through the projection period.
Competitive Landscape:
Leading Industry Players Illuminate Opportunities Amidst Technological Advancements The pneumococcal vaccines market thrives in its diversity, as major manufacturers employ a variety of strategies to stay ahead of the competition. Through both organic growth and strategic acquisitions, industry giants are investing heavily in research and development to enhance the efficacy of pneumococcal vaccines, particularly in addressing chronic illnesses prevalent among aging populations.
Activirosomes, for instance, pioneers the development of viral infection vaccines. Harnessing active virosome technology, the company engineers non-replicating derivatives of measles and other viruses, focusing solely on essential viral genes that trigger robust immune responses.
Recent Developments:
- In September 2020, a Japanese pharmaceutical company, Shinogi, made an announcement to enter into a license agreement with Hanavax, a next-generation nasal vaccine manufacturer. The agreement was likely to assist the company in research and development activities, commercialization, manufacturing, and distribution of Streptococcus pneumonia vaccines developed by Hanavax.
- In December 2019, China-based biotechnology company, Walvax Biotechnology Co., Ltd. received approval from the regulatory body of China, the National Medical Products Administration for its pneumococcal-13 valent conjugate vaccine. This vaccine is also estimated to act as an alternative to Prevnar-13 for immunizing children in the age group of 6 months to 5 years.
- In January 2018, Pfizer, one of the global leaders in the pharmaceutical industry made an announcement to reduce the price of the PCV-13 4-dose vial vaccine from US$ 3.05 to US$ 2.95 per dosage in the Gavi-supported countries.
Some of the key players proliferating in the market are:
- Astellas Pharma Inc
- GlaxoSmithKline Plc
- Merck & Co. Inc
- Panacea Biotech Ltd
- Pfizer Inc
- Sanofi S.A
- Walvax Biotechnology Co. Ltd
- CSL Ltd
- Serum Institute of India Pvt. Ltd
- Talley Group Ltd
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Key Segments in the Pneumococcal Vaccines Market:
By Product Type:
- Pneumococcal Polysaccharide Vaccines
- Pneumococcal Conjugate Vaccines
By Distribution Channel:
- Pharmacies
- Community Clinics
- Public Health Agencies
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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