PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1507295
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1507295
US Pneumococcal Vaccine Market is valued approximately USD 3.67 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.90% over the forecast period 2024-2032. The Pneumococcal Vaccine is a vaccine that protects against infection with pneumonia-causing streptococcus bacteria, also known as pneumococcus. This bacterium can cause infections such as meningitis, pneumonia, and bacteremia (a bloodstream infection). The vaccination works by stimulating the immune system to produce antibodies against certain bacterial strains, preventing infection. Also, increasing emphasis on preventive healthcare and the role of vaccines in reducing disease burden and healthcare costs has contributed to a positive outlook for the pneumococcal vaccine market. Healthcare providers and public health agencies are actively promoting pneumococcal vaccination as part of routine preventive care. Thus, this trend is anticipated to support the growth of US Pneumococcal Vaccine Market.
Moreover, growing awareness among healthcare providers and patients about the importance of vaccination in preventing pneumococcal diseases is a significant driver. Public health campaigns, educational programs, and initiatives by healthcare organizations contribute to this awareness. Also, government initiatives such as vaccination programs, recommendations by the Centers for Disease Control and Prevention (CDC), and inclusion of pneumococcal vaccines in routine immunization schedules for children and adults boost market growth. Government-funded vaccination programs, especially for vulnerable populations, further propel market expansion. Additionally, the prevalence of pneumococcal diseases, including pneumonia, meningitis, and bacteremia, remains a concern in the US. The increasing incidence of antibiotic-resistant strains of Streptococcus pneumoniae underscores the need for effective vaccination, thus driving market growth. However, high manufacturing costs are expected to hinder the market growth during the forecast period 2024-2032.