Pneumococcal Vaccines - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2024 - 2029

The Global Pneumococcal Vaccines Market size is expected to grow from USD 8.5 billion in 2024 to USD 10.7 billion by 2029, registering a CAGR of 4.83% during the forecast period.

This pandemic had a dramatic effect throughout the world, especially in developing countries and on their country's healthcare systems, with significant impacts not only on the patients infected with COVID-19 but others as well, which resulted in disruption in research and development activities. The outbreak of COVID-19 showed a bit positive impact on the pneumococcal vaccine market. They can also be applied in the treatment of COVID-19. However, during the early lockdown, the immunization programs were halted, which later gain paced has impacted the market's growth. Additionally, the increased usage of the pneumococcal vaccine in COVID-19 patients has boosted the market's growth. For Instance, the Vaccine Journal article published in December 2021 concluded that Underlying medical conditions of patients of any age with S. pneumonia increase the risk of severe illness; COVID-19 was considered a primary risk factor for pneumococcal Pneumonia and invasive pneumococcal disease. It also suggested that pneumococcal vaccination during the COVID-19 pandemic was more critical than ever. Also, the studies showed positive results of pneumococcal vaccination in patients with COVID-19 and underlying medical conditions. Such studies boosted the market growth during the pandemic. In the coming years, the market is expected to witness significant growth owing to the increase in research activities and pipeline studies for the pneumococcal vaccine across the globe.

Factors such as the growing burden of Pneumonia cases, increasing government awareness programs regarding pneumonia immunization programs, and the introduction of novel pneumococcal vaccines are expected to bolster the market growth over the forecast period. For instance, in March 2022, the Ministry of Health and Family Welfare, as part of the National Health Mission's Reproductive, Maternal, Newborn, Child, Adolescent, and Adolescent Health and Nutrition (RMNCHA+N) program, developed the SAANS (Social Awareness and Actions to Neutralize Pneumonia Successfully) Initiative to reduce deaths from Childhood Pneumonia in both rural and urban areas which are expected to show significant growth over the forecast period.

Several market players are actively involved in developing novel vaccines and are in different phases of clinical trials. For Instance, in April 2022, Merck reported that its investigational 21-valent pneumococcal conjugate vaccine, V116, has received breakthrough therapy designation from the United States Food And Drug Administration (FDA) for the prevention of Invasive Pneumococcal Disease (IPD) and pneumococcal Pneumonia caused by Streptococcus pneumoniae serotypes 3, 6A/C, 7F, 8, 9N, 10A, 11A, 12F, 15A, 15B/C, 16F, 17F, 19A, 20, 22F, 23A, 23B, 24F, 31, 33F, 35B in adults 18 years of age and older. The positive results from such clinical trials may lead to the introduction of novel vaccines in the market and thus expected to propel the growth of the market. Moreover, in June 2021, PREVNAR 20 (Pneumococcal 20-valent Conjugate Vaccine) developed by Pfizer has been approved by the United States Food and Drug Administration (FDA) for the prevention of invasive illness and pneumonia caused by the 20 Streptococcus pneumonia (pneumococcus) serotypes in the vaccine in adults aged 18 and above. Furthermore, in June 2022, Researchers at Karolinska Institutet identified a new vaccine candidate against pneumococci, bacteria that can cause pneumonia, sepsis, and meningitis. The vaccine molecules comprise nano-sized membrane vesicles produced by the bacteria and provide protection in mice.

Hence, owing to the increase in awareness regarding pneumonia and the rise in product launches, the studied market is expected to witness significant growth over the forecast period. However, the high cost involved in producing vaccines and the long process duration is the major drawbacks to market growth.

Pneumococcal Vaccine Market Trends

Pneumococcal Conjugate Vaccine Segment is Anticipated to Witness a Growth in the Market Over the Forecast Period

The pneumococcal conjugate vaccine helps protect against bacteria that cause pneumococcal disease. Three pneumococcal conjugate vaccines exist (PCV13, PCV15, and PCV20). Different vaccines are recommended for people based on age and medical status. PCV13 is for infants and children. PCV15 or PCV20 vaccines are for adults 19 through 64 years old. The studied segment is expected to witness significant growth in the studied market owing to the increasing developments and initiatives, rise in strategic activities by the key players, and surge in investments for the pneumococcal conjugate vaccine development, which are expected to boost the segment growth.

For instance, in May 2021, Pfizer Inc. publicized that its first enrolled subjects had received their immunizations as part of a new study in adults ages 65 or older exploring the coadministration of the company's 20-valent pneumococcal conjugate vaccine (20vPnC) candidates following a booster dose of the Pfizer-BioNTech COVID-19 Vaccine, currently authorized by FDA under an Emergency Use Authorization. The trial's primary objective was to describe safety when both vaccines are co-administered, with follow-up six months after vaccination. The secondary objectives are to describe the immune responses produced by each vaccine. Also, in July 2021, Merck received FDA approval for VAXNEUVANCE (Pneumococcal 15-valent Conjugate Vaccine) for the Prevention of Invasive Pneumococcal Disease in adults 18 years and older caused by 15 serotypes. VAXNEUVANCE was approved based on data from seven randomized, double-masked clinical studies assessing safety, tolerability, and immunogenicity in adults.

Similarly, many vaccine programs are being conducted across the globe, which is positively impacting market growth. For instance, in November 2021, the Pneumococcal Conjugate Vaccine (PCV) program was launched under the universal immunization program in Bengaluru, India. Chief Minister Basavaraj Bommai launched the program in the State on October 22 at KIMS, Hubballi. Moreover, in May 2022, the Union health minister of India launched the nationwide expansion of Pneumococcal Conjugate Vaccine (PCV) under the Universal Immunisation Programme (UIP) as part of the "Azadi ka Amrit Mahotsav" initiative marking 75 years of India's independence. Therefore, the increasing initiatives by the governments and the growing launches and trials have been expected to boost the segment growth in the forecast period.

Therefore, with an increase in strategic activities by the key players and increased research activities and government initiatives, the studied segment is expected to witness significant growth over the forecast period.

North America Anticipated to Hold a Significant Market Share Over the Forecast Period

North America is expected to hold significant market growth in the overall market throughout the forecast period owing to factors such as the presence of key players and established healthcare infrastructure, which are the key factors accountable for its large share in the market. Also, an increase in investment in the development of pneumococcal vaccines and a rise in pneumonia cases in the studied region is expected to contribute to the market growth.

According to the National Foundation for Infectious Diseases, updated in March 2022, pneumococcal pneumonia hospitalizes around 150,000 individuals in the United States each year. The region's high prevalence of pneumococcal infection is expected to drive market growth. Also, according to the January 2023 update by the CDC, the percentage of adults aged 18 and over who had ever received a pneumococcal vaccination was 24.0% in 2021 in the United States. Hence, an increase in pneumonia cases is expected to increase the demand for pneumococcal vaccines in the studied region, bolstering market growth over the forecast period.

Furthermore, the presence of key market players and developed healthcare infrastructure are the main reasons for the market's large share. In July 2021, Merck's VAXNEUVANCE(Pneumococcal 15-valent Conjugate Vaccine) (pronounced VAKS-noo-vans) was approved by FDA for active immunization to prevent invasive diseases caused by Streptococcus pneumoniae serotypes 1, 3, 4, 5, 6A, 6B, 7F, 9V, 14, 18C, 19A, 19F, 22F, 23F, and 33F in adults aged 18 years and older. Similarly, Health Canada authorized two new pneumococcal vaccines for adults 18 and older, Prevnar 20 (PNEU-C-20) on May 9, 2022, and Vaxneuvance (PNEU-C-15) on November 16, 2021. Vaxneuvance was also authorized for infants and children aged 6 months to 17 on July 8, 2022. Thus, an increase in approvals and product launches of pneumococcal vaccines in the studied region is expected to augment the market growth over the forecast period.

Thus, owing to the increase in pneumonia cases and increasing strategic activities coupled with government approvals, the market in the region is projected to grow over the forecast period.

Pneumococcal Vaccine Industry Overview

The pneumococcal vaccine market is highly consolidated and consists of a few players. Some companies currently dominating the market are GSK plc, Pfizer Inc., CSL Ltd., Merck KGaA, Serum Institute of India Pvt. Ltd., and Sanofi.

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