Global Pneumococcal Vaccine Market Set for Robust Expansion, Projected to Reach $11.36 Billion by 2028
Pneumococcal Vaccine Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
Pneumococcal Vaccine Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 9, 2024 /EINPresswire.com/ -- The global pneumococcal vaccine market2 has witnessed significant growth, expanding from $8.47 billion in 2023 to $9.04 billion in 2024, at a compound annual growth rate (CAGR) of 6.7%. Despite challenges, the market is expected to reach $11.36 billion by 2028, driven by evolving pneumococcal strains, continued research and development, and expanded vaccine access.
Increasing Prevalence of Pneumococcal Contamination Drives Market Growth
The rising prevalence of pneumococcal contamination is a major factor contributing to the growth of the pneumococcal vaccine market. Pneumococcal contamination, caused by Streptococcus pneumoniae, leads to infections such as pneumonia, bloodstream infections, ear infections, and sinus infections. The pneumococcal vaccine stimulates the production of antibodies to combat these infections, offering protection to children, the elderly, and individuals with weakened immune systems. For instance, according to the CDC, pneumococcal pneumonia results in approximately 150,000 hospitalizations annually in the United States. Therefore, the increasing prevalence of pneumococcal contamination is driving market growth.
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Major Players and Market Trends
Key players in the pneumococcal vaccine market include Pfizer Inc., Johnson & Johnson, Merck & Co. Inc., Novartis International AG, Sanofi S.A., AstraZeneca PLC, GlaxoSmithKline PLC, and more. These companies are focusing on developing conjugate vaccines, which offer enhanced protection by targeting multiple serotypes. For instance, in April 2023, Pfizer launched PREVNAR 20, a conjugate vaccine designed to protect against 20 pneumococcal serotypes.
Segments:
• Product Type: Prevnar 13, Synflorix, Pneumovax23, Other Products
• Route of Administration: Intravenous, Intramuscular, Subcutaneous
• Distribution Channel: Pharmacies, Community Clinics, Public Health Agencies, Other Distribution Channels
• End User: Pediatrics, Adults
Geographical Insights: North America Leading the Market
North America was the largest region in the pneumococcal vaccine market in 2023, while Asia-Pacific is expected to be the fastest-growing region in the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Pneumococcal Vaccine Global Market Report 20243 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Pneumococcal Vaccine Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on pneumococcal vaccine market size, pneumococcal vaccine market drivers and trends, pneumococcal vaccine market major players, competitors' revenues, market positioning, and market growth across geographies. The pneumococcal vaccine market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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