PUBLISHER: The Business Research Company | PRODUCT CODE: 1427969
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427969
The pneumococcal vaccine is a vaccination designed to provide protection against severe pneumococcal infections caused by Streptococcus pneumoniae bacteria, including pneumonia, meningitis, and sepsis. It is particularly effective in preventing one of the most common causes of meningitis and other illnesses in infants, such as acute ear infections.
The primary pneumococcal vaccines include Prevnar 13, Synflorix, Pneumovax23, and others. Prevnar 13 is a pneumococcal conjugate vaccine containing 13 distinct strains of Streptococcus pneumoniae. It is administered to children and tested on immunocompromised patients to prevent pneumococcal disease. The vaccine can be administered through intravenous, intramuscular, and subcutaneous routes and is distributed through pharmacies, community clinics, public health agencies, and other channels to end-users such as pediatrics and adults.
The pneumococcal vaccine market research report is one of a series of new reports from The Business Research Company that provides pneumococcal vaccine market statistics, including pneumococcal vaccine industry global market size, regional shares, competitors with a pneumococcal vaccine market share, detailed pneumococcal vaccine market segments, market trends and opportunities, and any further data you may need to thrive in the pneumococcal vaccine industry. This pneumococcal vaccine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The pneumococcal vaccine market size has grown strongly in recent years. It will grow from $8.47 billion in 2023 to $9.04 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth observed in the historical period can be attributed to factors such as the discovery of Streptococcus pneumoniae, increasing public health concerns related to pneumococcal infections, early efforts in vaccination, advancements in healthcare, and changes in vaccine policies.
The pneumococcal vaccine market size is expected to see strong growth in the next few years. It will grow to $11.36 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period can be attributed to factors such as the evolution of pneumococcal strains, ongoing research and development efforts, prioritization of immunization, expanded access to vaccines, and an aging population. Noteworthy trends in the forecast period include the development of multivalent vaccines, targeted vaccination in at-risk groups, efforts to enhance vaccine efficacy, educational and awareness campaigns, and a focus on infant immunization.
The growth of the pneumococcal vaccine market is anticipated to be driven by the increasing prevalence of pneumococcal contamination. Pneumococcal contamination encompasses various infections caused by Streptococcus pneumoniae or pneumococcus bacteria, leading to conditions such as pneumonia, bloodstream infections, ear infections, and sinus infections. The pneumococcal vaccine plays a crucial role in stimulating the production of antibodies, offering protection against pneumococcal bacteria. This is particularly vital for vulnerable populations, including children, the elderly, and individuals with weakened immune systems. For instance, recent data from the Center for Disease Control and Prevention (CDC) in January 2022 revealed that pneumococcal pneumonia results in approximately 150,000 hospitalizations annually in the United States, representing a substantial portion of adult community-acquired pneumonia cases.
The growth of the pneumococcal vaccine market is further propelled by the significant contribution of the growing aging population. As the demographic landscape shifts towards an aging population, there is a notable increase in the proportion of elderly individuals. Pneumococcal diseases, especially pneumonia, tend to be more prevalent and severe in older adults due to age-related weakening of the immune system. According to October 2022 data from the World Health Organization (WHO), the global population aged 60 or above is expected to rise from 1 billion in 2020 to 1.4 billion in 2030, highlighting the increasing vulnerability of older individuals to pneumococcal infections.
Major companies in the pneumococcal vaccine market are actively innovating new products. For instance, Merck & Co Inc., a prominent pharmaceutical company, introduced the V116 vaccine in July 2023. Designed to target eight distinct serotypes of Streptococcus pneumoniae responsible for adult pneumococcal disease, V116 has exhibited superior immunogenicity compared to other vaccines in adult populations. Notably, the U.S. Food and Drug Administration (FDA) has designated V116 as a breakthrough therapy, currently advancing through Phase 3 development.
Conjugate vaccines are gaining prominence among major companies in the pneumococcal vaccine market, offering enhanced protection by targeting multiple serotypes. Pfizer, a leading pharmaceutical company, launched PREVNAR 20 in April 2023, a conjugate vaccine designed to protect against the 20 pneumococcal serotypes responsible for the majority of pneumococcal diseases. The development of such advanced vaccines underscores the commitment to comprehensive preventive measures.
In August 2022, GSK plc strategically acquired Affinivax, Inc., a clinical-stage biopharmaceutical company, for an undisclosed amount. This acquisition provides GSK plc with access to innovative technologies, including the Multiple Antigen Presenting System (MAPS), and the 24-valent pneumococcal vaccine candidate, further solidifying its position in the pneumococcal vaccine market.
Major companies operating in the pneumococcal vaccine market report are Pfizer Inc., Johnson & Johnson, Merck & Co. Inc., Novartis International AG, Sanofi S.A., AstraZeneca PLC, GlaxoSmithKline PLC, Eli Lilly and Company, Astellas Pharma Inc., CSL Limited, Anhui Zhifei Longcom Biopharmaceutical Co. Ltd., Serum Institute of India Private Limited, Emergent BioSolutions Inc., Walvax Biotechnology Co. Ltd., Biological E Limited, Hualan Biological Engineering Inc., Valneva SE, Beijing Minhai Biotechnology Limited Company, NPO Petrovax Pharm LLC, Vaxcyte Inc., Panacea Biotec Ltd., Inventprise LLC, Tergene Biotech Private Limited, PnuVax Incorporated, SK Bioscience Co Ltd
North America was the largest region in the pneumococcal vaccine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pneumococcal vaccine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the pneumococcal vaccine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The pneumococcal vaccine market consists of sales of vaxneuvance, prevnar 20, pneumococcal conjugate vaccines (PCV)10, and pneumococcal conjugate vaccines (PCV)7. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Pneumococcal Vaccine Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pneumococcal vaccine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pneumococcal vaccine ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The pneumococcal vaccine market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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