The global pneumococcal vaccines market is projected to witness a CAGR of 6.97% during the forecast period to reach a total market size of US$15.963 billion by 2027, increasing from US$9.962 billion in 2020.
Vaccines that help prevent pneumococcal disease caused by Streptococcus pneumoniae bacteria are classified as pneumococcal vaccines. Immunization is one of the widely accepted forms against the disease.
Pneumococcal diseases are most common in younger children; however, adults and the elderly are more prone to pneumococcal contaminations and even death. Pneumonia vaccines are primarily given to children under two years and adults 65 years and older. The regular vaccination programs under the national policy are aiding the market to grow. Secondly, the rising awareness against pneumonia, directives launched by WHO and UNICEF, and increasing government support assist the expansion of the market in the current scenario.
By type, the pneumococcal conjugate vaccine segment is the most significant contributor to the global pneumonia vaccine market and is expected to maintain its dominant position throughout the analysis period. Geographically, the Asia-Pacific region showcases the highest growth potential due to changing health sectors and efforts led by the international organization, while North America continues to dominate the market.
Among all the infectious diseases prevalent among children, pneumonia has the highest share of fatalities in children. More than 800 thousand children under the age of five lose their lives every year due to pneumonia, while the number is around 2.2 thousand per day. Around 153 thousand of those children are newborns. According to data from UNICEF, 1,400 cases per 100,000 children suffer from pneumonia every year, which makes it 1 out of 71 children. The South Asian region has the highest incidence with 2,500 cases per 100,000 children, while the West and Central African region has an incidence rate of 1,620 cases per 100,000 children. These numbers are creating an alarming situation to combat child mortality rates which is expanding the vaccines market to increase its production capacity and spread its reach.
International organizations like WHO, UNICEF, and UNDP, in conjunction with the national government, are working to bring down the pneumonia infection rates, especially among the children and older generation who are more susceptible to such diseases. As such, the government of India launched 2017 the pneumococcal conjugate vaccine (PCV) into its national immunization program. These plans and policies boast the vaccines market with novel products being introduced and expansion of the existing product portfolios.
The high cost involved in the production of vaccines and the long duration of the process of production is challenging factors for market growth. However, the government subsidies on vaccine production and funds released by international organizations are helping to clear the hindrances of the path.
Impact of COVID–19 on the Pneumococcal Vaccines Market
The pandemic had an unforeseen effect on the vaccination market, and the impact on the pneumococcal vaccine market is no different. At first, routine vaccination decreased due to the pandemic. However, later studies indicated that the COVID-19 pandemic increased the need for pneumococcal vaccination, causing shipping restrictions on pneumococcal vaccines, which may cause a shortage of vaccines during a pandemic.
The market leaders for the Global Pneumococcal Vaccines Market are Pfizer, GSK, Merck Serum Institute of India Pvt Ltd, and AstraZeneca. The recent developments by the key players include:
|Market size value in 2020||US$9.962 billion|
|Market size value in 2027||US$15.963 billion|
|Growth Rate||CAGR of 6.97% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Pfizer, GSK, Merck, AstraZeneca, Serum Institute of India Pvt Ltd|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the pneumococcal vaccines market size by 2027?
A1. The global pneumococcal vaccines market is projected to reach a total market size of US$15.963 billion by 2027.
Q2. What is the size of the global pneumococcal vaccines market?
A2. Pneumococcal Vaccines Market was valued at US$9.962 billion in 2020.
Q3. What are the growth prospects for the pneumococcal vaccines market?
A3. The pneumococcal vaccines market is projected to witness a CAGR of 6.97% during the forecast period.
Q4. Which region holds the largest market share in the pneumococcal vaccines market?
A4. Geographically, North America dominates the pneumococcal vaccines market during the forecast period.
Q5. What factors are anticipated to drive the pneumococcal vaccines market growth?
A5. The regular vaccination programs under the national policy are driving the pneumococcal vaccines market growth.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Pneumococcal Vaccines Market Analysis, By Type
5.2. Conjugate vaccines
5.3. Polysaccharide vaccines
6. Global Pneumococcal Vaccines Market Analysis, By Application
6.2. Routine Vaccination
6.3. Vaccination for Disease/ Infection
7. Global Pneumococcal Vaccines Market Analysis, By Geography
7.2. North America
7.2.1. United States
7.3. South America
7.4.1. United Kingdom
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
8. Competitive Intelligence
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.5. Serum Institute of India Pvt Ltd
Serum Institute of India Pvt Ltd
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