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The pneumococcal vaccine market size was valued at USD 8.61 million in 2023, driven by the emphasis on preventing invasive pneumococcal disease like pneumonia and meningitis across the 7 major markets. The market is expected to grow at a CAGR of 4.9% during the forecast period of 2024-2032, with the values likely to rise from USD 9.03 million in 2024 to USD 13.21 million by 2032.
Pneumococcal vaccine is used to prevent pneumococcal disease, which is caused by the Streptococcus pneumoniae bacteria. This bacterium colonises the human respiratory tract and can induce both invasive (such as pneumonia, meningitis, bacteraemia) and non-invasive diseases (such as acute otitis media and sinusitis). Invasive diseases can even to hospitalisation and morbidity in patients.
There are two common types of pneumococcal vaccines used, namely pneumococcal conjugate vaccines (PCVs, specifically PCV15 and PCV20) and pneumococcal polysaccharide vaccine (PPSV23). PCV13 or PCV15 is commonly recommended to children younger than 2 years of age.
Pneumonia accounts for 14% of children’s deaths aged 5 years or younger. To curb this burden of mortality rates, researchers have been working towards effective vaccine solutions for infants and children. In April 2023, Pfizer’s 20-valent pneumococcal conjugate vaccine, PREVNAR 20®, received FDA approval. This vaccine offers the broadest serotype coverage of any pediatric pneumococcal conjugate vaccine. It is built on PREVAR 13 and contains seven additional serotypes, related to antibiotic resistance and increased diseases severity.
The pneumococcal vaccine market value is also expected to grow with continuous advancements in the existing vaccines. Pneumovax 23™ by Merck helps against fighting 23 types of pneumococcal bacteria. In August 2023, Merck revealed that their investigational 21-valent PCV called V116 showcased significant immune responses in Phase 3 trials. It was applied on both, previously vaccinated and vaccine-naïve adults.
In April 2023, Vaxcyte reported that their 24-Valent Pneumococcal Conjugate Vaccine Candidate, VAX-24, designed specifically for patients 65 years or older showed positive data from the phase 2 study.
The technology used to create vaccines is experiencing a transition especially during the COVID-19 era. Researchers have started using novel techniques like ‘Multiple Antigen Presenting System’, or MAPS to create vaccines. This also indicates that the pneumococcal vaccine market demand will grow with the arrival of improved vaccines for quality treatment in patients.
Market Breakup by Vaccine Type
Market Breakup by Product Type
Market Breakup by Distribution Channel
Market Breakup by Region
The United States, with a well-developed infrastructure and being home to prominent healthcare companies, has dominated the pneumococcal vaccine market share in the historic period. With awareness campaigns and initiatives set up government and healthcare institutions, the population has become more accepting towards vaccinations. This has led to better vaccination rates in the region. In addition, the COVID-19 outbreak has made human bodies more susceptible to respiratory diseases, therefore, the demand for pneumococcal vaccine has surged.
Europe is expected to lead the market with the growing research and developments in the healthcare system. In April 2023, Spain hosted the 2nd Global Forum on childhood pneumonia which focused on preventing the fatal disease by providing vaccinations and medications to middle and low-income countries.
The Asia Pacific region is projected to have the highest pneumococcal vaccine market growth with several government initiatives to make the population undertake vaccinations. One such initiative is the SAANS (Social Awareness and Action to Neutralise Pneumonia Successfully) campaign by the Indian government, which spreads information on pneumonia prevention. Moreover, the region is also developing a robust infrastructure that supports advanced medical research and development for improved patient outcomes.
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Vaccine Type |
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Breakup by Product Type |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market attained a value of about USD 8.61 million in 2023, driven by the focus on preventing diseases like meningitis, pneumonia, and others with the help of vaccinations.
The market is anticipated to grow at a CAGR of 4.9% during the forecast period of 2024-2032, likely to reach a market value of USD 13.21 million by 2032.
Vaccine producing technology has evolved post COVID-19. Scientists have turned to different approaches to improve the vaccine efficacy. As a result, the market demand has increased with the arrival of customised and enhanced vaccines.
The current market trend includes the arrival of vaccinations for all age groups, spanning from infants to older people. Pfizer’s PREVNAR 20®, an infant PVC received FDA approval in April 2023, whereas Vaxcyte’s VAX-24, designed for patients 65 years or older showed positive data from a phase 2 study.
The major regions of the market include United States, Japan, EU-4 and the United Kingdom. EU-4 includes Germany, France, Italy, and Spain.
Conjugate vaccine and polysaccharide vaccine are commonly used vaccine type.
Product types include Prevnar 13, Synflorix and neumovax23.
Major distribution channels include distribution partner companies, non-governmental organizations, and government authorities.
Key players involved in the market are GlaxoSmithKline, Plc., Sanofi, Merck & Co., Panacea Biotech, Pfizer Inc., PnuVax Incorporated, SK bioscience, Walvax Biotechnology Co., Beijing Minhai Biotechnology Co., and Serum Institute of India.
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Australia
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Vietnam
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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