[Latest] Global Pneumococcal Vaccine Market Size/Share Worth USD 12 Billion by 2030 at a 5.34% CAGR: Growing cases of pneumonia to impact global market growth – Facts & Factors (Industrial Trends, Report, Forecast, Growth, Segmentation)

SAN FRANCISCO, USA, Feb. 08, 2023 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Pneumococcal Vaccine Market Size, Share, Growth Analysis Report By Sector (Public and Private), By Vaccine Type (Pneumococcal Polysaccharide Vaccine and Pneumococcal Conjugate Vaccine), By Distribution Channel (Non-Government Organizations, Distribution Partner Companies, and Government Authorities), By Product Type (Pneumovax 23, Synflorix, and Prevnar 13), and By Region – Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030” in its research database.

Pneumococcal Vaccine Market Overview:

Vaccines that protect humans against pneumococcal diseases are known as pneumococcal vaccines. The diseases are caused due to Streptococcus pneumonia, a type of bacteria. Pneumococcal vaccines can prevent conditions like sepsis, meningitis, and pneumonia. There are two basic types of vaccines; namely polysaccharides vaccines and conjugate vaccines. The medication is given by injecting them just under the skin or into the muscle. The World Health Organization (WHO) recommends that children and infants should be given conjugate vaccines during routine immunization.

The recommended doses are known to be preventive at least 71% to 93% of the time. The vaccines are generally considered as safe apart from mild discomfort seen in some situations. The first vaccine ever developed to treat pneumococcal conditions was in 1980 and it currently holds a place in the World Health Organization’s list of essential medicines. The Pneumococcal Vaccines Accelerated Development and Introduction Plan (PneumoADIP) program is run across the globe to accelerate the accessibility and evaluation of the situations surrounding vaccines in developing countries.

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Report Scope:

Key Insights from Primary Research

• As per the analysis, the pneumococcal vaccine market is likely to grow above a CAGR of around 5.34% between 2022 and 2030.
• The Pneumococcal Vaccine market size was worth around US$ 8.57 billion in 2021 and is estimated to hit approximately US$ 12 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• The market is projected to grow at a significant rate due to the growing cases of pneumonia across the world
• Based on sector segmentation, the public was predicted to show maximum market share in the year 2021
• Based on distribution channel segmentation, government authorities were the leading channel in 2021
• On the basis of region, North America was the leading revenue generator in 2021

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Industry Growth Drivers

The global pneumococcal vaccine market is projected to grow owing to the increase in research and development (R&D) of new medicines as well as growing initiatives are undertaken by various regional, international, public, and private sector bodies to educate the population about pneumococcal diseases and preventive measures. Various countries run year-long programs under which infants and children are administered the pneumococcal vaccine free of cost falling the regional immunization programs. For instance, people above the age group of 65 years are eligible for free vaccination as mentioned by the Pneumonia Vaccination Service.

The global market may grow further due to the growing cases of meningitis. It is a serious condition that is triggered when bacteria attack the membranes covering the spinal cord and brain. The WHO mentions it to be a devastating disease and a major public health concern. It can spread through close contact with an infected person. More than 2.49 million cases of meningitis are recorded every year; it leads to over 24,000 deaths annually.

Restraints

The global market faces restraints owing to various factors. Pneumococcal vaccines have proven to be effective in immunizing the population against the diseases but some of the areas of concern remain unsolved. The issues under consideration include the exact and optimum vaccine formulation along with the accurate schedule for every setting required to administer the vaccine. In developed economies, infant pneumococcal vaccine drives have helped to build herd immunity; however, the duration of the protection provided by the vaccines remains unclear.

Opportunities & Challenges

The growing elderly population may provide growth opportunities however the high cost of branded vaccines could challenge the market expansion.

Pneumococcal Vaccine Market: Segmentation Analysis

The global pneumococcal vaccine market is segmented based on sector, vaccine type, distribution channel, product type, and region

Based on the vaccine type, the global market segments are pneumococcal polysaccharide vaccine and pneumococcal conjugate vaccine. In 2021, the highest growth was registered by the pneumococcal conjugate vaccine segment due to higher Food and Drugs Administration (FDA) approvals further encouraged by recommendations by medical professionals comparing the effect of both types of vaccines. The medication is to be administered in infants and helps to enhance the immunization level in children that are 6 weeks old to 5 years of age. Doctors recommend the vaccine type for both children and adults leading to a higher consumer database.

Based on product type, the global market divisions are Pneumovax 23, Synflorix, and Prevnar 13. In 2021, the fastest-growing segment was the Prevnar 13 segment and the same trend is expected during the forecast period. It is one of the most recommended vaccination types by the WHO and most countries use Prevnar 13 during national-level immunization drives. It is recommended for adults who are above the age of 50 years.

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Regional Analysis:

North America is projected to lead the global pneumococcal vaccine market due to the high innovation and product launch rate. The regional population health and safety-related bodies have initiated various programs to encourage mass pneumococcal vaccine drives which is the major reason why most of the developed economies have almost developed herd immunity against the diseases. The number of approvals for vaccines to prevent the spread of pneumococcal diseases has increased tremendously.

In October 2021, Advisory Committee on Immunization Practices (ACIP) by the Centers for Disease Control and Prevention (CDC) provided an updated recommendation list for the vaccine administration in adults. As per the new list, every individual above the age of 65 years is mandated to take a pneumococcal conjugate vaccine. The available options are PCV20 and PCV15. The recommendation also mandates every individual between 19 years to 64 years who has certain medical conditions to administer a vaccine providing protection against pneumococcal diseases.

Competitive Players

The report contains qualitative and quantitative research on the global Pneumococcal Vaccine Market, as well as detailed insights and development strategies employed by the leading competitors.

Some of the main players in the global Pneumococcal Vaccine market include;     

• Merck & Co. Inc.
• Astellas Pharma Inc.
• Walvax Biotechnology Co. Ltd.
• Panacea Biotec Ltd.
• GlaxoSmithKline Plc.
• Serum Institute of India Pvt Ltd
• Sanofi
• Pfizer Inc.

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Recent Industry Developments:

• In June 2022, the US FDA approved the use of VAXNEUVANCE developed by Merck to prevent the spread of pneumococcal diseases in children and infants. The new vaccine is a 15-valent conjugate vaccine
• In December 2020, India witnessed the launch of its first indigenous pneumococcal vaccine developed by Vardhan

The global pneumococcal vaccine market is segmented as follows:

By Sector

By Vaccine Type

• Pneumococcal Polysaccharide Vaccine
• Pneumococcal Conjugate Vaccine

By Distribution Channel

• Non-Government Organizations
• Distribution Partner Companies
• Government Authorities

By Product

• Pneumovax 23
• Synflorix
• Prevnar 13

By Region

• North America
• Europe
  • France
  • The UK
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Southeast Asia
• The Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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