PUBLISHER: 360iResearch | PRODUCT CODE: 1500282
PUBLISHER: 360iResearch | PRODUCT CODE: 1500282
[184 Pages Report] The Pneumococcal Vaccine Market size was estimated at USD 10.73 billion in 2023 and expected to reach USD 11.56 billion in 2024, at a CAGR 7.92% to reach USD 18.30 billion by 2030.
The pneumococcal vaccine is designed to protect against infections caused by the streptococcus pneumoniae bacteria. These infections range from ear and sinus infections to more severe illnesses, including pneumonia, meningitis, and bloodstream infections. The vaccine is essential for children, the elderly, and individuals with certain health conditions that make them more vulnerable to disease. With the increasing prevalence of pneumococcal diseases as global populations age and more individuals are at risk of chronic diseases, there is an increased need for pneumococcal vaccines. The availability of support from governments and international health organizations for pneumococcal vaccines is driving the market growth. These vaccines are often included in national immunization schedules to reduce the incidence of bacterial infections, especially in children and the elderly. Growing awareness about the importance of immunizations, bolstered by public health campaigns and education programs, supports the growth of the pneumococcal vaccine market. The high development cost and complex vaccine storage and handling requirements hamper the market growth. Rising improvements in vaccine technology and the development of conjugate vaccines that provide broader protection against various strains of bacteria are expected to create opportunities for the pneumococcal vaccine market.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 10.73 billion |
Estimated Year [2024] | USD 11.56 billion |
Forecast Year [2030] | USD 18.30 billion |
CAGR (%) | 7.92% |
Regional Insights
America shows a highly developing pneumococcal vaccine market with well-structured healthcare systems and high awareness regarding vaccination protocols, including pneumococcal vaccination, especially for infants and the elderly segment of the population. Policy initiatives, including immunization programs integrated into public health policy, further stimulate vaccine coverage. In APAC, the market dynamics vary widely across countries due to differences in economic development, healthcare infrastructure, and government policies related to vaccinations. Countries such as Japan, Australia, and South Korea exhibit higher adoption rates for pneumococcal vaccines, driven by favorable healthcare policies and a rising awareness of preventive healthcare. Meanwhile, emerging economies such as India, Japan, and China are experiencing rapid growth in vaccine uptake due to improving healthcare infrastructure, increasing middle-class populations, and government immunization drives against pneumococcal diseases. Europe is a strong market for pneumococcal vaccines, supported by comprehensive healthcare systems and wide vaccine coverage. The Middle East and Africa show varied vaccine adoption rates due to contrasting healthcare capabilities and varying levels of government support for immunization programs. Western European countries generally report higher vaccination rates compared to Eastern European nations. Meanwhile, in Africa and some parts of the Middle East, efforts are ongoing to enhance vaccine access and inoculation rates, often supported by international health organizations.
Market Insights
The market dynamics represent an ever-changing landscape of the Pneumococcal Vaccine Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Pneumococcal Vaccine Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Pneumococcal Vaccine Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
FDA Approves Merck's New Pneumococcal Vaccine Targeting Broad Protection
The U.S. Food and Drug Administration (FDA) approved Merck's innovative 21-valent pneumococcal conjugate pneumococcal vaccine, designed to offer protection against a comprehensive range of pneumococcal disease strains. This approval underscores a significant advancement in public health, promising enhanced protection for individuals, especially vulnerable populations such as older people and those with compromised immune systems. Merck's vaccine, which has demonstrated efficacy in preventing infections caused by numerous strains of pneumococcal bacteria, aims to reduce the incidence and severity of pneumococcal diseases such as pneumonia, meningitis, and bloodstream infections. [Published On: 2023-12-20]
Vaxcyte Bolsters Global Supply Chain with Enhanced Lonza Collaboration for Pneumococcal Vaccine Production
Vaxcyte, Inc. is expanding its collaboration with Lonza, a key global player in the pharmaceutical and biotech manufacturing sector, to elevate the production of VAX-24, its 24-valent pneumococcal conjugate vaccine candidate. This strategic partnership aims to reinforce Vaxcyte's manufacturing capabilities to meet global commercial demands, anticipating the transition into the pivotal Phase 3 vaccine trial. This collaboration underscores both companies' commitment to addressing the wide-ranging pneumococcal disease threat with a next-generation vaccine that could significantly impact public health worldwide. [Published On: 2023-10-16]
FDA Approves Pfizer's Prevnar 20 a Significant Advancement in Pneumococcal Disease Prevention
The U.S. Food and Drug Administration (FDA) has recently approved Prevnar 20, a novel 20-valent pneumococcal conjugate vaccine developed by Pfizer. This approval marks a significant milestone in preventing pneumococcal diseases, as Prevnar 20 is designed to protect against twenty pneumococcal serotypes responsible for most pneumococcal disease cases and pneumonia. The vaccine is authorized for use in adults aged 18 years and older, offering enhanced coverage and aiming to improve public health outcomes by reducing the incidences of these severe infections. This development is particularly timely, considering the substantial health burden pneumococcal diseases place on individuals and healthcare systems globally. [Published On: 2023-04-27]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Pneumococcal Vaccine Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Pneumococcal Vaccine Market, highlighting leading vendors and their innovative profiles. These include AstraZeneca PLC, Biological E. Limited, Biovac, CSL Limited, F. Hoffmann-La Roche AG, GlaxoSmithKline plc, Incepta Pharmaceuticals Ltd., Lonza AG, Merck & Co., Inc., Panacea Biotec Limited, Pfizer, Inc., Sanofi SA, Serum Institute of India Pvt. Ltd., Vaxcyte Inc., and Walvax Biotechnology Co., Ltd..
Market Segmentation & Coverage