The global pneumococcal vaccine market size reached US$ 8.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.
Pneumococcal disease is caused by Streptococcus pneumoniae bacterium that can lead to severe infection of the lungs (pneumonia) and blood (bacteremia) or the lining of the brain and spinal cord (meningitis). The vaccines help protect both children and adults by stimulating the immune system and protecting against the bacterial strains responsible for severe infections. As these vaccines help prevent infection from spreading, reduce fatality rate and eliminate the need for hospitalization, they are widely being used across the globe.
According to the World Health Organization (WHO), children under 2-5 years of age are at a high risk of developing pneumococcal disease. This, in confluence with the escalating number of birth rates and the growing concerns among parents about the health of their children, represents one of the major factors bolstering the market growth. Additionally, the increasing geriatric population is contributing to the market growth. This can also be accredited to the contagiousness of the disease, which can cause severe complications in older adults. Furthermore, the rising number of smokers and individuals living with chronic health conditions is positively influencing the market growth. Moreover, the introduction of the Pneumococcal Conjugate Vaccine (PCV) in infant routine immunization by governing agencies of numerous countries is anticipated to propel the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global pneumococcal vaccine market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on vaccine type, product type, distribution channel and end user.
Breakup by Vaccine Type:
Pneumococcal Conjugate Vaccine
Pneumococcal Polysaccharide Vaccine
Breakup by Product Type:
Breakup by Distribution Channel:
Distribution Partner Companies
Non-Governmental Organizations (NGO)
Breakup by End User:
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Astellas Pharma Inc., GlaxoSmithKline Plc., Merck & Co. Inc., Panacea Biotec Ltd., Pfizer Inc., Sanofi S.A., Serum Institute of India Pvt Ltd and Walvax Biotechnology Co. Ltd.
Base Year of the Analysis
Vaccine Type, Product Type, Distribution Channel, End User, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Astellas Pharma Inc., GlaxoSmithKline Plc., Merck & Co. Inc., Panacea Biotec Ltd., Pfizer Inc., Sanofi S.A., Serum Institute of India Pvt Ltd and Walvax Biotechnology Co. Ltd.
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Key Questions Answered in This Report
The global pneumococcal vaccine market was valued at US$ 8.9 Billion in 2022.
We expect the global pneumococcal vaccine market to exhibit a CAGR of 5.2% during 2023-2028.
The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of pneumococcal vaccine as an immunity booster and a preventive measure against lung injection, especially among the coronavirus-infected patients.
The rising demand for pneumococcal vaccine to help prevent lungs-, blood-, or spinal cord-related infection from spreading, reduce fatality rate, and eliminate the need for hospitalization, is primarily driving the global pneumococcal vaccine market.
Based on the vaccine type, the global pneumococcal vaccine market can be segregated into pneumococcal conjugate vaccine and pneumococcal polysaccharide vaccine. Currently, pneumococcal conjugate vaccine holds the largest market share.
Based on the product type, the global pneumococcal vaccine market has been divided into prevnar 13, synflorix, and pneumovax 23. Among these, prevnar 13 currently accounts for the majority of the total market share.
Based on the distribution channel, the global pneumococcal vaccine market can be bifurcated into distribution partner companies, Non-Governmental Organizations (NGO), and government authorities. Currently, Non-Governmental Organizations (NGO) exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global pneumococcal vaccine market include Astellas Pharma Inc., GlaxoSmithKline Plc., Merck & Co. Inc., Panacea Biotec Ltd., Pfizer Inc., Sanofi S.A., Serum Institute of India Pvt Ltd, and Walvax Biotechnology Co. Ltd.
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