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Pneumococcal Vaccines Market Analysis

The Pneumococcal Vaccines Market size is estimated at USD 8.80 billion in 2024, and is expected to reach USD 11.20 billion by 2029, growing at a CAGR of 4.83% during the forecast period (2024-2029).

Factors such as the high prevalence of pneumonia, rising government awareness programs for pneumonia vaccination, and the introduction of new pneumococcal vaccines are anticipated to fuel market growth over the forecast period.

The high burden of pneumonia globally is anticipated to drive the demand for vaccines and contribute to market growth. For instance, according to the data published by the UN International Children's Emergency Fund (UNICEF) in November 2023, around 2,000 children were globally affected by pneumonia on a daily basis. Thus, the high burden of pneumonia, particularly among children, is anticipated to drive the demand for pneumonia vaccines and contribute to market growth.

The government initiatives to reduce the burden of pneumonia are anticipated to fuel the demand for pneumococcal vaccines and propel market growth. For instance, in March 2022, the Ministry of Health and Family Welfare launched the SAANS (Social Awareness and Actions to Neutralize Pneumonia Successfully) initiative to combat the burden of childhood pneumonia in rural and urban areas, which is expected to show significant growth over the forecast period.

Numerous market players are actively developing innovative vaccines, with several of them in various stages of clinical trials. For instance, in June 2022, researchers at Karolinska Institute developed a new vaccine candidate against pneumococci, comprised of nano-sized membrane vesicles produced by the bacteria that protect mice. Moreover, in April 2022, the US Food And Drug Administration (FDA) granted therapy designation to Merck's investigational 21-valent pneumococcal conjugate vaccine, V116, for preventing invasive pneumococcal disease (IPD) and pneumococcal pneumonia caused by Streptococcus pneumoniae serotypes. Promising results from clinical trials regarding such vaccines hold the potential for introducing novel vaccines to the market and thus propel the market's growth.

Hence, owing to increased awareness about pneumonia and increased product launches, the pneumococcal vaccine market is expected to witness significant growth over the forecast period. However, the high cost of producing vaccines and the long process duration are substantial drawbacks to market growth.

Pneumococcal Vaccines Industry Segmentation

Pneumonia is a type of acute respiratory illness that affects the lungs, in which the alveoli are filled with pus and fluid, making breathing painful and limiting oxygen intake. 

The pneumococcal vaccine market is segmented by vaccine type, product type, distribution channel, and geography. By vaccine type, the market is segmented into conjugate vaccines and polysaccharide vaccines. By product type, the market is segmented into Prevnar 13, SynflorIX, and Pneumovax2. By distribution channel, the market is segmented into distribution partner companies, non-governmental organizations, and government authorities. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. For each segment, the market size is provided in terms of value (USD).