The global pneumococcal vaccines market is poised for significant growth, with projections indicating a Compound Annual Growth Rate (CAGR) of 4.1% over the forecast period. According to the latest analysis by Future Market Insights, the market, valued at USD 8.9 billion in 2023, is expected to surpass USD 13.3 billion by 2033.
The report provides a comprehensive outlook on the pneumococcal vaccines market, emphasizing the critical role these vaccines play in preventing infections caused by Streptococcus pneumoniae bacteria. With their ability to reduce morbidity and mortality rates worldwide, pneumococcal vaccines have become essential in the fight against preventable diseases.
“The increasing demand for effective vaccination programs against pneumococcal infections highlights the market’s immense potential for growth,” noted a spokesperson from Future Market Insights. “As healthcare infrastructures evolve globally, the focus on robust immunization strategies is expected to drive market expansion.”
Key factors contributing to the market’s steady growth include heightened awareness around preventive healthcare measures and ongoing advancements in vaccine technology. The global healthcare community’s push toward more comprehensive vaccination coverage is creating a fertile ground for market leaders to innovate and form strategic partnerships.
Future Market Insights, through its detailed market analysis, underscores the importance of innovation and collaboration among industry players in maintaining this upward trajectory. The report serves as a crucial resource for stakeholders aiming to navigate the evolving pneumococcal vaccines landscape effectively.
Key Takeaways from the Pneumococcal Vaccines Market:
- The pneumococcal vaccines market has witnessed an unprecedented surge of USD 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 USD 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.
High Demand for Market Insights: Discover Comprehensive Trends in Our Full Report!
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 USD 3.05 to USD 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
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
