PUBLISHER: Grand View Research | PRODUCT CODE: 1529774
PUBLISHER: Grand View Research | PRODUCT CODE: 1529774
Conjugate Vaccine Market Size & Trends
The global conjugate vaccine market size was estimated at USD 19.01 billion in 2023 and is expected to grow at a CAGR of 9.60% from 2024 to 2030. The rising incidence of infectious diseases globally is a significant driver for the growth of the conjugate vaccines market. Conjugate vaccines help protect against several serious bacterial diseases, including Haemophilus influenzae disease b (Hib, Pneumococcal infections, and Meningococcal infections. According to the CDC, pneumococci, specifically Streptococcus pneumonia bacteria, are a significant cause of bacterial meningitis in the U.S. highlighted the significant health burden posed by this bacterium. As infectious diseases threaten public health, there is a growing need for effective vaccination strategies, driving the demand for conjugate vaccines.
Another crucial factor driving the conjugate vaccines market is the rising regulatory approvals for new conjugate vaccine products. The increasing number of regulatory approvals expands the market and drives innovation within the industry. Companies are encouraged to develop novel conjugate vaccines to address unmet medical needs and target emerging infectious diseases. For Instance, in June 2024, the U.S. FDA approved CAPVAXIVE, a pneumococcal 21-valent conjugate vaccine for adults, to prevent invasive and pneumococcal disease. This approval marks a significant milestone in the fight against pneumococcal infections, which can lead to serious health issues and even death, especially among high-risk groups such as the elderly and those with specific pre-existing health problems.
Governmental initiatives and immunization programs worldwide have significantly influenced the growth of the conjugate vaccines market. For Instance, the WHO recommended including Pneumococcal Conjugate Vaccines (PCVs) in childhood immunization programs globally. Specifically, countries with high rates of childhood mortality, such as an under-5 mortality rate exceeding 50 deaths per 1000 births, should prioritize the introduction of these multicomponent PCVs.
Increasing emphasis on preventive healthcare practices among individuals and healthcare providers drives the demand for vaccines that offer long-term protection against infectious diseases. Conjugate vaccines, with their ability to enhance immune responses, align well with this preventive healthcare approach.
Global Conjugate Vaccine Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global conjugate vaccine market report on the basis of product, brand, disease, pathogen, patient, and region
U.S.
Canada
Mexico
UK
Germany
France
Italy
Spain
Denmark
Sweden
Norway
Japan
China
India
Australia
South Korea
Thailand
Brazil
Argentina
South Africa
Saudi Arabia
UAE
Kuwait
4.4.1.2.1. Multivalent conjugate vaccine market estimates and forecasts 2018 to 2030 (USD Million)