The global pneumococcal vaccines market is positioned for substantial growth, with a forecasted Compound Annual Growth Rate (CAGR) of 4.1% over the coming years. According to the latest report by Future Market Insights, the market, valued at USD 8.9 billion in 2023, is anticipated to surpass USD 13.3 billion by 2033.
Pneumococcal vaccines play a vital role in preventing infections caused by Streptococcus pneumoniae bacteria, a major contributor to respiratory and bloodstream infections globally. These vaccines are critical in reducing morbidity and mortality rates, making them an essential tool in the global healthcare system’s efforts to combat preventable diseases.
“The growing demand for effective vaccination programs to prevent pneumococcal infections underscores the market’s immense potential for growth,” said a representative from Future Market Insights. “As healthcare infrastructures continue to evolve, the focus on comprehensive immunization strategies is expected to drive the expansion of the pneumococcal vaccines market.”
Several factors are contributing to this steady market growth, including a heightened global awareness of preventive healthcare and continuous advancements in vaccine technology. The increasing emphasis on widespread vaccination coverage is creating fertile ground for industry leaders to innovate and forge strategic partnerships.
Future Market Insights highlights the critical role of innovation and collaboration among key industry players in maintaining the upward trajectory of the pneumococcal vaccines market. The report serves as an essential resource for stakeholders looking to navigate the evolving landscape of pneumococcal vaccines and capitalize on growth opportunities in the years ahead.
As the global healthcare community intensifies efforts to fight preventable diseases, pneumococcal vaccines remain a cornerstone in the battle against infections worldwide.
Key Takeaways from the Pneumococcal Vaccines Market:
- The pneumococcal vaccines market has witnessed an unprecedented surge of USD 0.4 Billion from the base year to the current.
- The pneumococcal vaccines market is estimated to advance forward at a moderate pace, registering a CAGR of 4.1% through the forecast period.
- The Prevenar-13 segment by product type category has accounted for the highest share of the pneumococcal market with USD 9,500 Million in 2023.
- The public authorities segment by distribution channel category is estimated to hold dominant shares, trailing at a CAGR of 6.8% through the projection period.
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Competitive Landscape:
Leading Industry Players Illuminate Opportunities Amidst Technological Advancements The pneumococcal vaccines market thrives in its diversity, as major manufacturers employ a variety of strategies to stay ahead of the competition. Through both organic growth and strategic acquisitions, industry giants are investing heavily in research and development to enhance the efficacy of pneumococcal vaccines, particularly in addressing chronic illnesses prevalent among aging populations.
Activirosomes, for instance, pioneers the development of viral infection vaccines. Harnessing active virosome technology, the company engineers non-replicating derivatives of measles and other viruses, focusing solely on essential viral genes that trigger robust immune responses.
Recent Developments:
- In September 2020, a Japanese pharmaceutical company, Shinogi, made an announcement to enter into a license agreement with Hanavax, a next-generation nasal vaccine manufacturer. The agreement was likely to assist the company in research and development activities, commercialization, manufacturing, and distribution of Streptococcus pneumonia vaccines developed by Hanavax.
- In December 2019, China-based biotechnology company, Walvax Biotechnology Co., Ltd. received approval from the regulatory body of China, the National Medical Products Administration for its pneumococcal-13 valent conjugate vaccine. This vaccine is also estimated to act as an alternative to Prevnar-13 for immunizing children in the age group of 6 months to 5 years.
- In January 2018, Pfizer, one of the global leaders in the pharmaceutical industry made an announcement to reduce the price of the PCV-13 4-dose vial vaccine from USD 3.05 to USD 2.95 per dosage in the Gavi-supported countries.
Some of the key players proliferating in the market are:
- Astellas Pharma Inc
- GlaxoSmithKline Plc
- Merck & Co. Inc
- Panacea Biotech Ltd
- Pfizer Inc
- Sanofi S.A
- Walvax Biotechnology Co. Ltd
- CSL Ltd
- Serum Institute of India Pvt. Ltd
- Talley Group Ltd
Key Segments in the Pneumococcal Vaccines Market:
By Product Type:
- Pneumococcal Polysaccharide Vaccines
- Pneumococcal Conjugate Vaccines
By Distribution Channel:
- Pharmacies
- Community Clinics
- Public Health Agencies
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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