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The global pneumococcal vaccine market size is estimated to grow by USD 2,820.53 million at a CAGR of 5.81% between 2022 and 2027.
The introduction of pneumococcal vaccines has shown substantial potential in lowering the burden of pneumococcal disease. One of the key strategies for expanding immunization programs in developing countries is through augmented accessibility and availability of the pneumococcal vaccine. Also, education and awareness campaigns are important to expanding immunization programs. Furthermore, by engaging with local influencers and community-based organizations, awareness and acceptance of vaccines can be increased which can be done through community meetings, outreach programs, and partnerships with religious and community leaders. Therefore, expanding immunization programs by governments in developing countries is driving the growth of the global pneumococcal vaccine market during the forecast period.
Technavio has segmented the market into type, distribution channel, and geography.
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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The market share growth by the pneumococcal conjugate vaccine segment will be significant during the forecast period. The pneumococcal conjugate vaccine is developed to safeguard against various strains of the bacterium Streptococcus pneumoniae, which can cause serious ailments such as pneumonia, meningitis, and sepsis. In reducing the incidence of pneumonia, one of the significant advantages of the pneumococcal conjugate vaccine.
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The pneumococcal conjugate vaccine was the largest and was valued at USD 6,566.24 million in 2017. This vaccine contains specific polysaccharides found on the surface of the Streptococcus pneumoniae bacterium, conjugated to a carrier protein. This conjugation improves the immune response, leading to robust and long-lasting protection against the targeted strains. To create an effective immunization product active voice is employed in the development and manufacturing of the pneumococcal conjugate vaccine. Therefore, such advantages are anticipated to boost the demand for pneumococcal conjugate vaccine, which will fuel the growth of the pneumococcal conjugate vaccine segment in the market in focus during the forecast period.
Several NGOs, play a crucial role in the global pneumococcal vaccine market such as the Bill and Melinda Gates Foundation, the Global Alliance for Vaccines and Immunization, the United Nations Children's Fund, and Johns Hopkins University. The Pneumococcal Conjugate Vaccine (PCV) Access Coalition is a coalition of NGOs, academic institutions, and industry partners that aims to address barriers to pneumococcal vaccine access. Such a coalition works towards assuring that high-quality pneumococcal vaccines are available and inexpensive for all populations, including those in low-income and marginalized settings. The pneumococcal conjugate vaccine access coalition facilitates knowledge sharing, collaboration, and resource mobilization to improve pneumococcal vaccine coverage globally through their collective efforts. Therefore, such advantages are anticipated to boost the demand for NGOs, which will fuel the growth of the NGOs segment in the global pneumococcal vaccine market during the forecast period.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Over the years, North America has experienced significant growth in the demand for pneumococcal vaccines owing to several factors such as the increasing prevalence of pneumococcal diseases, growing awareness about the significance of vaccination, and government initiatives to promote immunization. According to the CDC, pneumococcal disease is responsible for around 150,000 cases of invasive disease and approximately 3250 deaths yearly in the US alone.
In addition, pharmaceutical companies based in the region are actively involved in developing and commercializing new pneumococcal vaccines. For instance, in June 2021, Pfizer Inc (Pfizer), a renowned pharmaceutical company in the US, developed Prevnar 13, a widely used pneumococcal conjugate vaccine that was approved by the US FDA. Therefore, such innovative vaccines improve market growth and create further opportunities in the region, which in turn drive the market growth in the region during the forecast period.
In 2020, the COVID-19 outbreak negatively impacted the regional market. In addition, most pharmaceutical companies increased their focus on developing and manufacturing pneumococcal vaccines. Moreover, the regional pneumococcal vaccine market is anticipated to experience positive growth, due to several aspects such as the rising emphasis of the manufacturers on developing new dosages of pneumococcal vaccine for better protection from diseases such as pneumonia, meningitis, and bloodstream infections and the rising demand for increasing the volume of pneumococcal vaccines to meet the growing demand during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Astellas Pharma Inc. - The company offers pneumococcal vaccine solutions such as the Multiple Antigen Presenting System to advance a novel MAPS vaccine targeted to prevent and reduce the spread of Streptococcus pneumoniae disease.
CSL Ltd. - The company offers pneumococcal vaccines such as 14-valent paediatric Pneumococcal Conjugate Vaccine, (Investigational Pneumococcal Polysaccharide Conjugate Vaccine PCV14) against S. pneumoniae infection.
GlaxoSmithKline Plc - The company offers pneumococcal vaccines such as PNEUMOVAX 23 for the prevention of pneumococcal disease caused by infection with pneumococcal types included in the vaccine.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
Advancements in vaccine technologies are an emerging trend shaping the market growth. In vaccine technologies, the global pneumococcal vaccine market has experienced substantial advancements. As a result of such developments, they have led to the creation of more effective and efficient vaccines. This contributed to the prevention and control of pneumococcal diseases worldwide. Also, the advancements in vaccine technologies have led to the development of next-generation vaccines. The use of nanoparticle-based vaccines is one example, where tiny particles are engineered to carry antigens that stimulate the immune system. These nanoparticles offer various benefits, such as improved immune response and enhanced stability.
Further, they can be easily modified to target specific serotypes. This targeted approach enables a more tailored and effective immune response, which leads to better protection against pneumococcal diseases. Therefore, such factors are anticipated to augment the demand for pneumococcal vaccines, which will fuel the growth of the global pneumococcal vaccine market during the forecast period.
The high cost of vaccine development and production is a significant challenge hindering market growth. In the global pneumococcal vaccine market, the high cost of vaccine development and production is a significant challenge. Developing and bringing a vaccine to market requires significant financial investment owing to several aspects, including R&D, clinical trials, regulatory approvals, manufacturing facilities, and distribution. Such costs majorly contribute to the high price of pneumococcal vaccines. Also, vaccine manufacturing facilities contribute to the high cost and these facilities must stick to stringent quality control measures and hold a sterile environment to assure the security and efficacy of vaccines.
Further, manufacturing vaccines contains intricate procedures such as culturing microorganisms, purifying antigens, formulating vaccines, and packaging them, all of which need specialized equipment and materials. Distribution costs further compound the expenses. Therefore, these factors are anticipated to impede the growth of the market during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Pneumococcal Vaccine Market Customer Landscape
The pneumococcal vaccine market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Pneumococcal Vaccine Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.81% |
Market growth 2023-2027 |
USD 2,820.53 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.09 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 41% |
Key countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Astellas Pharma Inc., CSL Ltd., GlaxoSmithKline Plc, Merck and Co. Inc., Panacea Biotec Ltd., Pfizer Inc., Sanofi, Serum Institute of India Pvt. Ltd., Shenzhen Kangtai Biological Products Co. Ltd., Sinovac Biotech Ltd., SK Inc., Biological E. Ltd., Inventprise Inc., Petrovax, Vaxcyte Inc., and Walvax Biotechnology Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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