Global Pneumococcal Vaccines Market Ongoing Trends, Growth Factors, Negative Factors, Opportunities, Untapped Markets, Strategies and Developments, Product Segments, and Forecast 2020 – 2029
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Global Pneumococcal Vaccines Market Overview :
“The global Pneumococcal Vaccines Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
The pneumococcal vaccines are essential medicines, especially for children, in order to protect them against Streptococcus pneumonia bacteria. The bacteria, if left untreated, can cause pneumonia, meningitis, and sepsis.
These vaccines also protect from harmful diseases through person-to-person contact and are defined as an essential medicine by The World Health Organization (WHO). The pneumococcal vaccines are divided into conjugate vaccines and polysaccharide vaccines.
These vaccines may have certain minor side-effects including change in sleep patterns, redness at the site of injection and rare cases of severe allergies.
Pneumococcal Vaccines Market: Dynamics
The pneumococcal vaccines market is expected to witness significantly higher growth rate in the next 10 years, due to increasing prevalence of diseases such as pneumonia, meningitis, febrile bacteremia, otitis media, sinusitis, bronchitis and others.
In addition, increasing government programs around the world which concentrates around public health and increasing health consciousness among individuals are additional major factors estimated to boost the market growth in the upcoming future.
According to the WHO, pneumococcal vaccination programs were introduced in 134 countries by 2016 end, and it was predicted that its global coverage left plenty of scope for expansion as its penetration stood at meagre 42%.
Pneumococcal Vaccines Market: Segment Insights
By Vaccine Type Insights:
The pneumococcal conjugate vaccine segment is estimated to account for major share in terms of value in the market and is projected to continue contributing highest revenue share over the next 10 years as it is most preferred and used type of vaccine among healthcare professionals.
Revenue from the pneumococcal polysaccharide vaccine segment is projected to grow at the highest CAGR over the 10-year forecast period, because these type of vaccines are comparatively cost-effective than pneumococcal conjugate vaccine type and is commonly used in various developing economies.
Pneumococcal Vaccines Market: Regional Insights
Pneumococcal vaccines market in North America accounted for major share in terms of revenue in the last year, and is projected to continue with contributing highest share over the next 10 years, as the incidences of various diseases and its visibility is on the rise.
Despite being a hub with several prominent pharma companies operating in the region, countries such as the US yet have plenty of scope in terms of penetration as many people at risk due to several diseases and age factor such as the elderly, smokers and several other groups are not vaccinated, mainly due to high costs and lack of awareness.
The market in Asia Pacific is projected to witness significant growth rate over the 10-year forecast period due to rising awareness regarding severe side-effects of the disease, increasing spending on healthcare, and rising number of government programs to vaccinate low-income level population at minimal cost or for free.
The market is MEA and Latin America are expected to register moderately steady growth rate in terms of value over the next 10 years.
Global Pneumococcal Vaccines Market Segmentation:
Segmentation by Vaccine Type:
- Pneumococcal Conjugate Vaccine
- Pneumococcal Polysaccharide Vaccine
Segmentation by Product Type:
- Prevnar 13
- Pneumovax 23
Segmentation by Distribution Channel:
- Distribution Partner Companies
- Non-governmental Organizations
- Government Authorities
Segmentation by Sector:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Glaxosmithkline plc.
- LG Chem Ltd.
- Merck & Co., Inc.
- Panacea Biotec Limited
- Pfizer Inc.
- Pnuvax Incorporated
- Serum Institute of India Pvt. Ltd.
- Shenzhen Kangtai Biological Products Co., Ltd. (Beijing Minhai Biotechnology Corporation Limited)
- SK Bioscience
- Walvax Biotechnology Co., Ltd.
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