Global Pneumococcal Vaccine Market is valued approximately USD 8.07 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.21% over the forecast period 2024-2032. The Pneumococcal Vaccine is a vaccine that helps protect against infection by Streptococcus pneumoniae bacteria, also known as pneumococcus. This bacterium can cause various infections, including pneumonia, meningitis, and bacteremia (bloodstream infection). The vaccine works by stimulating the body's immune system to produce antibodies against specific strains of the bacteria, thereby preventing infection. Also, the Global Pneumococcal Vaccine market is experiencing advancements in vaccine technology, such as the development of next-generation conjugate vaccines with enhanced efficacy against a broader range of pneumococcal strains. These advancements contribute to the improvement of vaccine effectiveness and coverage.
Moreover, the rising prevalence of pneumococcal diseases, such as pneumonia, meningitis, and bacteremia, is a significant driver. These diseases impose a considerable burden on healthcare systems worldwide, leading to a higher demand for preventive measures such as vaccines. Also, government initiatives aimed at reducing the burden of infectious diseases play a crucial role. Many countries have implemented vaccination programs targeting infants, children, and adults to prevent pneumococcal infections. Subsidies, reimbursements, and vaccination mandates further boost market growth. Additionally, other factors support the market growth are raising global awareness of pneumonia vaccination programs, and introduction of new vaccines for the prevention of pneumococcal diseases is anticipated to create the lucrative opportunity for the market. However, high manufacturing cost is expected to hinder the market growth during the forecast period 2024-2032.
The key regions considered for the Global Pneumococcal Vaccine Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America was the largest regional market in terms of revenue. Government initiatives, such as vaccination programs for children and the elderly, play a significant role in driving the adoption of pneumococcal vaccines. These programs often provide free or subsidized vaccines, making them more accessible to a larger portion of the population. Also, ongoing research and development efforts have led to the development of more efficacious and advanced pneumococcal vaccines. Newer vaccines offer broader coverage against a greater number of pneumococcal strains, thereby increasing their effectiveness in preventing diseases. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period.
Major market player included in this report are:
Serum Institute of India Pvt. Ltd
CSL Limited
Sanofi SE
GlaxoSmithKline plc
Merck & Co., Inc
Pfizer Inc
Walvax Biotechnology Co., Ltd
Beijing Minhai Biotechnology Co., Ltd
Astellas Pharma Inc
Panacea Biotech Ltd
The detailed segments and sub-segment of the market are explained below:
By Vaccine Type
Pneumococcal Conjugate Vaccine
Pneumococcal Polysaccharide Vaccine
By Product
Prevnar 13
Synflorix
Pneumovax 23
Vaxneuvance
Pneumosil
Other Products
By End-use
Public Sector
Private Sector
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market
