Global Pneumococcal Vaccines Market - 2024-2031

Overview

The Global Pneumococcal Vaccines Market reached US$ 7.96 billion in 2023 and is expected to reach US$ 11.9 billion by 2031 growing with a CAGR of 5.2% during the forecast period 2024-2031.

Pneumococcal vaccines are designed to protect against infections caused by the bacterium Streptococcus pneumoniae. These immunizations play a crucial role in preventing severe and potentially fatal conditions, including pneumonia, meningitis, and sepsis.

There are two main types of pneumococcal vaccines: polysaccharide vaccines and conjugate vaccines. The introduction of these vaccines marks a significant milestone in the prevention and treatment of a serious and often fatal disease. Currently, the vaccines used for immunization include PCV13, PCV15, PPSV23, and PCV20.

Pneumococcal conjugate vaccines (PCVs) are immunizations that contain polysaccharide capsules from multiple serotypes of the bacterium Streptococcus pneumoniae. These capsules are conjugated to a carrier protein, which enhances the immune response, particularly in infants and young children.

Pneumococcal polysaccharide vaccines (PPSVs) are immunizations that contain purified polysaccharide capsules from 23 different serotypes of the bacterium Streptococcus pneumoniae. These vaccines are primarily used for older children and adults, in contrast to pneumococcal conjugate vaccines (PCVs) which are more commonly administered to infants and young children. An example of a PPSV is PPSV23, which protects against 23 serotypes of S. pneumoniae.

Market Dynamics: Drivers

Rising awareness campaigns and programs worldwide

The demand for the global pneumococcal vaccines market is driven by multiple factors. The market for pneumococcal vaccines is anticipated to be majorly driven by rising awareness campaigns and programs worldwide.

As the awareness of preventative health is rising, global health agencies are implementing disease eradication strategies for infections that are vaccine-preventable, and pneumococcal infection is one such condition, As the prevalence of various pneumococcal infections is rising, and the pathogen becoming opportunistic by genetic mutations, there are extensive efforts by global manufacturers to discover, develop and bring advanced vaccines against them into the market.

Existing market players are constantly investing in bringing more effective versions of their vaccines, which are effective against a wide range of serotypes. For instance, Pfizer launched its first pneumococcal vaccine "Prevnar 13" in 2010, which has gained worldwide popularity. Recently in April 2023, the U.S. Food and Drug Administration (FDA) approved Pfizer's 20-valent Pneumococcal Conjugate Vaccine for Infants and Children.

Likewise, there are several novel pneumococcal vaccines approved recently by the regulatory authorities, which are a big hit in the market. For instance, in June 2024, the U.S. Food and Drug Administration (FDA) approved CAPVAXIVE a 21-valent Pneumococcal Conjugate Vaccine developed by Merck & Co., Inc. This new vaccine will be made available in the U.S. and Canadian market.

Likewise, many biopharmaceutical companies and government-funded organizations are actively involved in R&D activities related to pneumococcal vaccines. For instance, in April 2024, an India-based company specializing in vaccine manufacture and supply worldwide announced positive phase-3 clinical trial results for the 14-valent Pneumococcal Conjugate Vaccine (PCV) called PNEUBEVAX 14. The result showcased that the vaccine is safe in pediatric patients and is effective against 14 serotypes.

The research efforts continue to rise, and the vaccines in the current pipeline have a higher success rate to enter the market soon. Once, they make an entry, the market is anticipated to gain huge growth in the forecast period.

Restraints

Factors such as discrepancies in the supply chain, long duration for production, and high cost of production are expected to hamper the market.

Market Segment Analysis

The global pneumococcal vaccines market is segmented based on type, route of administration, patient type, and region.

The pneumococcal conjugate vaccine (PCV) segment accounted for approximately 72.8% of the global pneumococcal vaccines market share

The pneumococcal conjugate vaccine (PCV) segment is expected to hold the largest market share over the forecast period. Pneumococcal conjugate vaccines are the most widely used type to prevent various pneumococcal infections. These vaccines are more effective for infant and child immunizations. The other type called pneumococcal polysaccharide vaccine is ineffective in this patient population.

Global health organizations such as the World Health Organization (WHO), the United Nations Children's Fund (UNICEF), and the Center for Disease Control and Prevention (CDC) recommend conjugate vaccines against pneumococcal infection. As per the WHO report published in 2020, 91% of global pneumococcal vaccine demand is for PCV and the remaining is for PPV.

Moreover, at present the vaccines currently available in the market are conjugate vaccines, and the research efforts are majorly deviated towards them. For instance, companies like Pfizer Inc., Merck & Co., Inc., and Serum Institute of India Pvt. Ltd. Which have a major market share are offering pneumococcal conjugate vaccines.

There are currently 5 different types of pneumococcal conjugate vaccines with varying serotypes such as PCV10, PCV13, PCV15, PCV20, and PCV21. Several companies are investing to develop more advanced conjugate vaccines with the wider activity of pneumococcal serotypes. For instance, one of the global market leaders in the pharmaceutical industry, GSK plc has been developing a 24-valent vaccine which is currently in phase 2 clinical trials.

A novel innovation in the pneumococcal vaccine discovery is the next-generation vaccines, which are currently in the development phase and are anticipated to gain huge attention once they make market entry.

Market Geographical Share

North America accounted for approximately 42.6% of the global pneumococcal vaccines market share

North America region is expected to hold the largest market share over the forecast period. Factors such as well-established healthcare facilities, accessibility to advanced healthcare, availability of advanced vaccines, favorable reimbursement scenarios, awareness campaigns, and higher vaccination rates, higher prevalence of pneumococcal infections are the major contributors to the region's dominance in the global market.

Countries in North America such as the U.S. and Canada are very well developed and a major portion of these countries' populations have access to pneumococcal vaccines. The higher awareness of preventative health among the population and the higher incidence of these infections, create a huge demand for pneumococcal vaccines in the region.

For instance, according to the National Foundation for Infectious Disease pneumonia caused by pneumococcal infection hospitalizes about 150,000 people in the US each year, and kills about 5-7%, or 1 in 20 of those infected. The death rate is even higher among adults aged 65 years and older and people with certain medical conditions or other risk factors.

Moreover, the vaccination coverage in the U.S. is also higher against pneumococcal infections as compared to other countries. For instance, according to the American Lung Association, in 2021, the vaccine coverage among adults aged 65+ was 70% and coverage among adults 18-64 at increased risk was 30%.

In addition, the companies majorly generate their revenue from the U.S., since the country is highly developed the vaccines are generally sold at higher prices as compared to other nations. Agencies like GAVI and UNICEF do not usually provide the vaccines at subsidized prices or free of cost.

Moreover, the manufacturers are highly focused on developing and launching their novel vaccines in the U.S. market due to its favorable regulatory scenario, and higher demand from the patient population. This provides U.S. citizens early access to advanced vaccines.

Market Segmentation

By Type

Pneumococcal Conjugate Vaccine (PCV)

PCV 10

PCV 13

PCV 15

PCV 20

PCV 21

Pneumococcal Polysaccharide Vaccine (PPV)

Next Generation Pneumococcal Vaccines

By Route of Administration

Intramuscular

Subcutaneous

By Patient Type

Infants (< 1 Year)

Children (1-12 Years)

Adolescence (13-19 Years)

Adults (20-60 Years)

Geriatrics (Above 60 Years)

By Region

North America

The U.S.

Canada

Mexico

Europe

Germany

U.K.

France

Spain

Italy

Rest of Europe

South America

Brazil

Argentina

The rest of South America

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific

Middle East and Africa

Market Competitive Landscape

The major global players in the pneumococcal vaccines market include Pfizer Inc., Merck & Co., Inc., Serum Institute of India Pvt. Ltd., Walvax Biotechnology Co., Ltd., SINOVAC, Beijing Minhai Biological Technology Co., Ltd., SK bioscience., Sanofi, Biological E Limited., CanSinoBIO, Panacea Biotec, GSK plc. and Inventprise among others

Key Developments

In June 2024, Merck announced that the U.S. Food and Drug Administration (FDA) has approved CAPVAXIVE (Pneumococcal 21-valent Conjugate Vaccine). This vaccine is intended for the prevention of invasive pneumococcal disease and pneumococcal pneumonia in adults. CAPVAXIVE is specifically formulated to protect against the serotypes of Streptococcus pneumoniae that are responsible for a significant percentage of invasive disease cases in adults aged 50 and older.

Why Purchase the Report?

To visualize the global pneumococcal vaccines market segmentation based on type, route of administration, patient type, and region and understand key commercial assets and players.

Identify commercial opportunities by analyzing trends and co-development.

Excel data sheet with numerous data points of the pneumococcal vaccines market with all segments.

PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.

Product mapping is available in Excel consisting of key products of all the major players.

The global pneumococcal vaccines market report would provide approximately 71 tables, 56 figures, and 183 pages.

Target Audience 2024

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies