NEW YORK, April 16, 2024 /PRNewswire/ — The global pneumococcal vaccine market size is estimated to grow by USD 2820.53 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 5.81% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 41%.
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North America is expected to play a pivotal role in propelling the global pneumococcal vaccine market
Geographic Landscape:
The Pneumococcal Vaccine Market in North America has experienced significant growth due to the high prevalence of pneumococcal diseases, such as pneumococcal pneumonia and invasive pneumococcal disease. According to the CDC, these conditions account for over 150,000 cases and 3250 deaths annually in the US. The pandemic nature of these contagious diseases necessitates ongoing research activities and pipeline studies to develop novel pneumococcal vaccines. These vaccines protect against various pneumococcal strains causing conditions like sepsis, meningitis, sinusitis, and lung disease in demographic groups including the immunocompromised, geriatric population, and those with chronic conditions such as diabetes, chronic heart disease, and HIV. Vaccines are administered through various routes, including pharmacies and community clinics, and may require booster doses. Common side effects include redness, headache, tiredness, and muscle pain. Protein-based vaccines are a prominent type in the market, and immunization programs aim to protect pneumonia patients and prevent the spread of Streptococcus pneumoniae in the lungs and bloodstream.
Research Analysis
The Pneumococcal Vaccine Market holds significant importance due to the prominence of pneumococcal diseases, including invasive pneumococcal pneumonia, sinusitis, bacterial meningitis, and chronic lung disease. These conditions can affect various demographic groups, such as the elderly, individuals with chronic heart disease, diabetes, human immunodeficiency, and generalized musculoskeletal disorders. Research activities and pipeline studies are ongoing to develop novel pneumococcal vaccines to address the evolving strains and reduce hospitalizations and mortality rates. Economic disparities and vaccine accessibility remain challenges in ensuring widespread immunization programs. Protein-based vaccines are a key focus in the market, offering potential advantages in terms of efficacy and safety. Manufacturing and production of pneumococcal vaccines are crucial to meet the global demand and address the ongoing pandemic. The market is expected to grow, driven by the increasing awareness of pneumococcal diseases and the need for effective preventive measures.
Market Drivers
The global pneumococcal vaccine market holds significant importance due to the prominence of pneumococcal diseases, particularly among the geriatric population and those with splenectomy. Pneumococcal diseases, including bacterial meningitis, pneumonia, sepsis, and invasive diseases, result in high hospitalizations and mortality rates, especially in demographic groups with economic disparities. Pneumococcal vaccine manufacturing focuses on protein-based vaccines to combat various pneumococcal strains. Common side effects include redness, headache, tiredness, and generalized muscle pain. Immunocompromised patients and those who have undergone splenectomy may require a booster dose. Research activities and pipeline studies aim to develop novel pneumococcal vaccines and address the challenges of vaccine accessibility in developing countries, such as India, China, Indonesia, Brazil, South Africa, Cambodia, and Thailand. Streptococcus pneumoniae continues to pose a threat, with pneumococcal pneumonia, meningitis, and sepsis causing significant morbidity and mortality. The pandemic has further highlighted the importance of immunization programs and the need for increased vaccine availability to protect vulnerable populations. Routes of administration, including intramuscular and conjugate vaccines, continue to be explored to enhance vaccine efficacy and reach those in need.
Market Overview
The Pneumococcal Vaccine Market represents a significant segment in the global vaccines industry. This market is driven by the increasing prevalence of pneumococcal diseases and the rising awareness about the importance of vaccination. The market is characterized by the presence of several key players, including Pfizer, Novartis, and Sanofi Pasteur. These companies offer various pneumococcal vaccines, such as Prevnar 13, Prevnar 20, and Synflorix. The market is also influenced by factors like government initiatives, technological advancements, and regulatory approvals. The use of conjugate vaccines and the development of next-generation vaccines are some of the trends shaping the Pneumococcal Vaccine Market. The market is expected to grow steadily in the coming years, with a focus on increasing accessibility and affordability of these vaccines in developing countries.
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About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
