Pneumococcal Vaccine Market

Global Pneumococcal Vaccine Market Size (2024 to 2029)

The global Pneumococcal vaccine market size is valued at USD 7.84 Billion in 2024 and is anticipated to reach USD 11.12 Billion by 2029 with a CAGR of 5.2% during the forecast period.

The pneumococcal vaccines are administered to children below five years of age to prevent any illness caused by the streptococcus pneumoniae bacteria. The Centers for Disease Control and Prevention (CDC) recommends that adults who have never received a vaccine 65 or those aged 64 years with certain risk conditions. Pneumococcal infections range from ear and sinus infections to pneumonia and bloodstream infections. Mostly, young children below five years and older adults of age 65 or above are at higher risk of catching pneumococcal diseases.

MARKET DRIVERS

The growing government initiatives for bringing awareness among the people regarding pneumonia immunization programs and the introduction of novel pneumococcal vaccines are majorly contributing to global market growth.

The increasing prevalence of pneumococcal diseases among younger people and older adults is fueling global market revenue growth. In March 2022, the Ministry of Health and Family Welfare conducted a program titled National Health Mission's Reproductive, Maternal, Newborn, Child, Adolescent, and Adolescent Health and Nutrition program, developed SAANS (Social Awareness and Actions to Neutralize Pneumonia Successfully) initiative to reduce the deaths of children by Pneumonia in both rural and urban areas. Such initiatives are expected to gain awareness among the people and lead to the adoption of vaccines by impacting global market revenue. The growing partnerships of manufacturers with various government organizations in different countries to bring innovative and effective vaccines for pneumococcal diseases are expected to propel global market revenue. According to the UNICEF Supply Division, more than 80% of countries are eligible to access the pneumococcal conjugate vaccine by utilizing advanced market commitment, which is introduced into their national immunization programs. 

Market players growing research and development activities bring cost-effective, safe, and efficient vaccines with minimal adverse effects, boosting the global pneumococcal vaccine market expansion. Various market players focus on developing novel vaccines and are in different phases of clinical trials. For instance, In April 2022, Merck reported that its investigational 21-valent pneumococcal conjugate vaccine, V116, had received approval from the US Food and Drug Administration for the prevention of invasive pneumococcal disease and pneumococcal Pneumonia caused by streptococcus pneumoniae strains. These successful clinical trial results encourage researchers to focus on developing more effective and efficient vaccines to augment market growth.

The growing government initiatives to bring awareness among the people will increase the market growth opportunities. To bring awareness among the people and address the mortality rate, WHO collaborated with UNICEF and launched a program named "Global Action for Pneumonia and Diarrhea" that states PROTECT, PREVENT, and TREAT. The WHO states that it is mandatory to take vaccines under PREVENT, and children and patients should take appropriate medications for diseases that focus on TREATMENT. All these kinds of government programs to educate the people and make pneumococcal vaccine immunization mandatory will provide opportunities for the demand for pneumococcal vaccines during the forecast period.

MARKET RESTRAINTS

Vaccines are in huge demand, leading to illegal activities, counterfeiting, and sabotage during the supply chain. These issues related to the supply chain are expected to hamper the global market revenue. The need for skilled professionals to immunize several people at one strike limits the market expansion. The major drawback of the healthcare system is the illegal activities where there is a high chance of adulteration in the production of vaccines, which are ineffective and may cause severe effects due to unnecessary materials. In a few cases, if the vaccines are stolen during transportation, most vendors fill the vials with saline water rather than discard them to gain profit. All these factors are estimated to restrain the global market expansion during the forecast period. 

The major challenge with the acceptance of pneumococcal vaccines is the development of antibiotic resistance. Some of the pneumococcal strains develop resistance to the vaccine, which does not show the effect on the diseases. The vaccines need to change their patterns frequently to avoid antibiotic resistance.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Pneumococcal Vaccine Market Analysis By Type

The pneumococcal conjugate vaccine dominated the global market revenue and is anticipated to grow significantly during the forecast period. The growing initiatives and rising innovative developments in vaccine formulation are driving the global market in this segment. These vaccines are used to immunize newborns and kids between the ages of 6 weeks and five years old against invasive pneumococcal disease, Pneumonia, and acute otitis media. The massive adoption of these vaccines among children and older adults fuels the global market revenue. 

Global Pneumococcal Vaccine Market Analysis By Product

The Prevnar 13 segment held the largest share in the global market and is expected to grow with the highest CAGR during the forecast period. Prevnar 13 is the vaccine the WHO widely recommends, and various nations widely accept it in immunization programs. Adults over 60 are highly preferred to use this vaccine, which is estimated to drive the global market in the forecast period. The hospitals prefer this vaccine to patients due to the presence of serotypes 6A and 19A; it can be attributed to the inclusion of thirteen pneumococcus and serotypes. 

Global Pneumococcal Vaccine Market Analysis By Distribution Channel

The Public authorities segment held the largest share of the global pneumococcal vaccine market revenue in 2023. Public health agencies such as WHO, UNICEF, GAVI, and others contribute the most to the global market. Bulk amounts of purchases are made by these organizations for pneumonia vaccines and distribute them for social causes. 

The government authorities segment is estimated to have a prominent CAGR during the forecast period due to their growing initiatives for delivering better healthcare to children and older adults. 

Global Pneumococcal Vaccine Market Analysis By End-Use

The hospitals segment held the dominant share in the global market revenue in 2023, as most of the nation's immunization programs are held at hospitals. The vaccines are widely available at hospitals in the presence of skilled healthcare professionals and other facilities. Most hospitals collaborate or partner with public organizations, deliver medical facilities to the people and mandate that children take the vaccine in time.

REGIONAL ANALYSIS

The North American region dominated the global pneumococcal vaccine market in 2023 with a significant market share and is estimated to maintain its domination during the forecast period. The presence of significant market players in the region, advanced healthcare infrastructure, and the growing incidence of Pneumonia across the region are the prominent factors driving the global market growth. According to data from the National Foundation for Infectious Diseases, in 2022, around 150,000 hospital admissions occur annually in the United States. Additionally, according to the Centers for Diseases and Control, in 2023, around 25% of individuals above 18 had taken pneumococcal immunization, which is estimated to increase the demand for the vaccines and boost the global market revenue. 

The Asia Pacific region is projected to grow significantly during the forecast period with the highest CAGR. The growing government initiatives where various countries have adopted immunization programs, which include pneumococcal vaccines. Specific international organizations are supporting the programs that promulgate vaccination coverage rates in infants. By administering pneumococcal conjugate vaccination, pneumonia cases are being widely reduced in children, which increases the demand for vaccines across the region.

Key Market Players

Yuxi Walvax Biotechnology Co., Ltd., SK Bioscience, Panacea Biotec, Merck & Co., Pfizer Inc., PnuVax Inc., GSK Pharmaceuticals, Serum Institute of India Pvt. Ltd., Beijing Minhai Biotechnology Co., Ltd. are some of the key market players in the pneumococcal vaccine market.

Recent Market Developments

• In January 2023, the US Food and Drug Administration accepted the review of supplemental biologics license application for Pfizer's 20-valent pneumococcal conjugate vaccine candidate for the prevention of invasive pneumococcal disease caused by 20 serotypes of Streptococcus pneumoniae in the vaccine administered to infants and children, and for prevention of otitis media caused by seven serotypes of streptococcus pneumoniae in the vaccine. 
• In May 2022, GSK acquired Affinivax, with USD 3.3 billion, for a clinical-stage vaccine developer with a Phase III ready vaccine candidate, which studies more bacterial strains than any pneumococcal vaccine that is currently available.

DETAILED SEGMENTATION OF THE GLOBAL PNEUMOCOCCAL VACCINE INCLUDED IN THIS REPORT

This research report on the global pneumococcal vaccine market has been segmented and sub-segmented based on the following categories.

By Type

• Conjugate Vaccine 
• Polysaccharide Vaccine

By Product

• Prevnar 13
• Synflorix
• Pneumovax23

By Distribution Channel

• Public Authorities
• Non-Governmental Organizations
• Governmental Authorities

By End-Use

• Hospitals
• Specialty Clinics
• Others

By Region

• North America
• Europe
• Asia Pacific 
• Latin America
• Middle East and Africa