Global Conjugate Vaccine Market Report and Forecast 2024-2032

Global Conjugate Vaccine Market Outlook

The global conjugate vaccine market size attained a value of USD 17.76 billion in 2023 driven by increasing scientific research and the rising demand for meningococcal vaccine. The market is anticipated to grow at a CAGR of 11% during the forecast period of 2024-2032 to attain a value of USD 45.43 billion by 2032.

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Favourable Initiatives by Governments and Organisations Across the Globe Augmenting the Market Growth

The governments of various countries are introducing favourable schemes and programs to accelerate and promote conjugate vaccination in their countries. This is also propelling the market growth. For instance, the Indian government rolled out an anti-pneumonia vaccine as a part of its Universal Immunisation Program. Moreover, countries like the Democratic Republic of Congo, Pakistan, and Nigeria account for the highest death rate of people with pneumonia under the age of five years. Hence, various non-profit organisations are rolling out vaccination drives while raising awareness regarding preventable diseases in the regions. This is anticipated to fuel the market growth for conjugate vaccine.

Pneumonia is one of the dominant causes of child death worldwide. The rising demand to prevent pneumonia and acute respiratory infections is aiding the market growth. Various benefits associated with conjugate vaccines are also increasing their use. They can not only easily result in herd immunity but also have an excellent safety record. Moreover, they improve immunity and memory while providing long-lasting protection. This is increasing the demand for pneumococcal vaccines that aids in the prevention of pneumonia, especially in emerging economies. As pneumococcal conjugate vaccines are suitable for major age groups, their demand is increasing, which, in turn, is invigorating the market growth.

Conjugate Vaccine: Market Segmentation

A conjugated vaccine is a vaccine that is composed of weak antigens and a protein carrier molecule. It enhances the immune system and improves antigen’s immunogenicity. It also reduces asymptomatic carriage of the bacteria. Moreover, the vaccine is effective for a long period of time without resulting in any major side effects.

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The major types of conjugate vaccine are:

• Monovalent Conjugate Vaccine
• Multivalent Conjugate Vaccine

The market can be broadly categorised on the basis of its disease indication into:

• Pneumococcal
• Influenza
• Diphtheria Tetanus and Pertussis (DTP)
• Meningococcal
• Others

Based on pathogen type, the market is divided into:

• Bacterial Conjugate Vaccine
• Viral Conjugate Vaccine
• Combined Conjugate Vaccine

On the basis of patient, the market is segmented into:

• Adults
• Paediatrics

The EMR report looks into the regional markets of conjugate vaccine like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Demand for Meningococcal Vaccine to Bolster the Market Growth for Conjugate Vaccine

According to the World Health Organisation (WHO), meningococcal meningitis, the bacterial form of meningitis, is prevalent in sub-Saharan Africa ranging from Senegal in the west to Ethiopia in the east. As it occurs in the region each year between December and June, various organisations and governments are rolling out vaccination drives in the region. This is increasing the use of meningococcal vaccine, hence augmenting the market growth. Moreover, the launch of various immunisation programs to generate awareness regarding the benefits of conjugate vaccines is providing further impetus to the market growth.

The exponential rise in population is expected to increase the demand for various vaccines, especially among children. The rising attempts of various non-profit organisations for approvals of conjugate vaccines are increasing its demand, hence augmenting the market growth. Increasing scientific research to develop more efficient vaccines is further invigorating the market growth. In addition, the surge of novel pathogens, which can potentially cause severe illnesses, are anticipated to propel the growth of the conjugate vaccine industry in the forecast period. Moreover, the rising demand for diphtheria, pertussis, and tetanus vaccines among children to prevent complications is also catalysing the market growth, therefore significantly contributing to the overall industry growth.

Key Industry Players in the Global Conjugate Vaccine Market

The report presents a detailed analysis of the following key players in the global conjugate vaccine market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Serum Institute of India Pvt., Ltd.
• Groupe Sanofi
• Pfizer Inc. 
• Novartis AG
• Bharat Biotech Ltd.
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report