Pneumococcal Vaccine Market Size, Share & Trends Analysis Report By Vaccine Type, By Product (Prevnar 13, VAXNEUVANCE, PNEUMOSIL), By End-use (Public Sector, Private Sector), By Region, And Segment Forecasts, 2024 - 2030
Pneumococcal Vaccine Market Growth & Trends
The global pneumococcal vaccine market size is anticipated to reach USD 12.19 billion by 2030, registering a CAGR of 6.21% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is primarily driven by the increasing prevalence of target diseases. Pneumococcus is the main cause of invasive disease, pneumonia, and upper respiratory tract infection and can lead to severe sequelae such as deafness, paralysis, intellectual disability, and other serious complications. For instance, in September 2023, the World Health Organization (WHO) estimated that Streptococcus pneumoniae is responsible for over 300,000 deaths annually among children under the age of 5 worldwide. The majority of these fatalities occur in developing nations. Globally, S. pneumoniae is the primary cause of pneumonia-related deaths, surpassing all other causes combined. The highest number of deaths due to this bacterium is observed in countries located in Africa and Asia.
Increasing government awareness programs regarding pneumonia immunization fuels the market growth. For instance, in September 2023, a survey conducted in September and October 2022 found that there's a need to extend the recommendations for the new 20-valent pneumococcal conjugate vaccine (PCV20) to adults who previously received the 13-valent pneumococcal conjugate vaccine (PCV13). The survey showed that healthcare providers need to be more aware of and implement pneumococcal vaccination recommendations better. After considering these findings, the Advisory Committee on Immunization Practices (ACIP) agreed to update the recommendations in late October 2022.
Moreover, product launches by key players is contributing to market growth. For instance, In October 2022, Merck & Co., Inc. received the European Commission’s (EC) approval for its Vaxneuvance, a pneumococcal vaccine. The approval allows product marketing in 27 European Union (EU) member states and Iceland, Norway, & Lichtenstein. Moreover, in September 2021, Minhai Biotechnology Co. Ltd. received approval from the National Medical Products Administration, China, for its 13-valent vaccine.
Growing R&D for developing novel vaccines boosting the growth of the market. In March 2024, SK Bioscience's announced expansion of its L House vaccine manufacturing facility in South Korea indicates a proactive approach to enhancing vaccine production capacity. This expansion, driven by the joint development of the pneumococcal conjugate vaccine candidate GBP410 with Sanofi, follows positive Phase 2 clinical trial results. SK Bioscience plans to conduct a global Phase 3 clinical trial in 2027, demonstrating a commitment to collaboration and global vaccine development.
Pneumococcal Vaccine Market Report Highlights
Based on type, Pneumococcal Conjugate Vaccine (PCV) segment led the market and is anticipated to grow at the fastest growth over the forecast period. PCV helps protect against pneumococcal disease, a leading cause of death among children under 5 years old
Based on product, Prevnar 13 dominated the market and is expected to grow significantly during the forecast period. The vaccines under the Prevnar brand include Prevnar 13 and Prevnar 20. These are pneumococcal conjugate vaccines (PCVs) designed to protect against pneumococcal disease
Based on end-use, the public sector led the market and is anticipated to grow at the fastest CAGR over the forecast period. The dominance of the public sector in the end use of pneumococcal vaccines, including hospitals, clinics, and healthcare facilities, can be attributed to several factors. These factors include the high prevalence of diseases, government initiatives to increase vaccination coverage
North America dominated the market owing to factors such as advanced healthcare infrastructure, rising prevalence of target diseases, and favorable regulatory environment
Please note The report will be delivered in 2-3 business days upon order notification.
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Segment Definitions
1.2.1. Vaccine Type
1.2.2. Product
1.2.3. End Use
1.2.4. Regional scope
1.2.5. Estimates and forecasts timeline
1.3. Research Methodology
1.4. Information Procurement
1.4.1. Purchased database
1.4.2. GVR’s internal database
1.4.3. Secondary sources
1.4.4. Primary research
1.4.5. Details of primary research
1.4.5.1. Data for primary interviews in North America
1.4.5.2. Data for primary interviews in Europe
1.4.5.3. Data for primary interviews in Asia Pacific
1.4.5.4. Data for primary interviews in Latin America