Research Nester released a report titled “Pneumococcal Vaccine Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global pneumococcal vaccine market in terms of market segmentation by vaccine, by age group, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Pneumococcal diseases are the diseases caused by Streptococcus pneumoniae bacteria. These include pneumonia, meningitis and sepsis. The market for pneumococcal vaccines is projected to grow at a CAGR of 8.9% over the forecast period, i.e., 2020-2028. This can be attributed to the high prevalence of these diseases in children as well as the elderly. The market is segmented by vaccine, by age group, by end user and by region, out of which, the vaccine segment is bifurcated into pneumococcal conjugate vaccine and pneumococcal polysaccharide vaccine. The segment for pneumococcal conjugate vaccine is anticipated to observe the highest growth in the market and hold the largest share during the forecast period as a result of rising infant care awareness among people. Pneumococcal conjugate vaccines (PCV) are administered to infants, usually till the age of one, at regular intervals. This is estimated to raise the demand for PCV in the market in the next few years.
Based on geographical analysis, the pneumococcal vaccine market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America is anticipated to hold the leading share on the back of rising demand for efficient disease prevention through vaccine. Moreover, the market in Asia Pacific is predicted to grow on account of improving healthcare infrastructure and development of advanced and cost-effective vaccine.
Rising Sales of Vaccine to Boost the Revenues and Drive the Market Growth
Currently, only two vaccines have been approved for sale by the U.S. Food and Drug Administration (FDA), Prevnar 13 and Pneumovax 23. Pfizer, a leading pharmaceutical company that develops and manufactures Prevnar 13, reported a revenue of USD 5,847 million globally from the pneumococcal 13-valent conjugate vaccine in 2019. The growing revenues on account of increased volumes of vaccine purchased by governments is predicted to become a growth driving factor for pneumococcal vaccine market. However, the numerous side effects associated with the use of pneumococcal vaccine such as swelling or soreness at the site of vaccine administration, headache, fatigue, fever and joint pain among others are estimated to hamper the market growth over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global pneumococcal vaccine market which includes company profiling of Pfizer, Merck & Co., Inc., GlaxoSmithKline plc. and PnuVax. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global pneumococcal vaccine market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.