Pneumococcal Vaccines Market Industry Landscape And Acknowledgment with Top Players Pfizer, Merck, GlaxoSmithKline

Pneumococcal vaccine is used to prevent infection caused by streptococcus pneumoniae bacteria. There are two types of pneumococcal vaccines: pneumococcal conjugate vaccine and pneumococcal polysaccharide vaccine. Centers for Disease Control and Prevention (CDC) recommends pneumococcal conjugate vaccine for all children younger than 2 years old, all adults 65 years or older, and for people 2-64 years old with certain medical conditions. CDC recommends pneumococcal polysaccharide vaccine for all adults 65 years or older, people 2-64 years old with certain medical conditions, and adults 19-64 years old who smoke cigarettes.

The global pneumococcal vaccines market size was valued at US$ 7,376.6 million in 2018 and is expected to witness a CAGR of 7.5% over the forecast period (2018 – 2026).

High mortality due to pneumonia among the global population is expected to increase adoption of pneumococcal vaccines over the forecast period. For instance, according to the World Health Organization (WHO) November 2016, pneumonia accounted for 16% of all deaths of children under 5 years old in 2015, with 920,136 deaths globally.

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Furthermore, increasing partnership among Global Alliance for Vaccines and Immunization (GAVI) and key vendors to deliver pneumococcal vaccines in emerging countries is expected to be a significant growth factor for the market. For instance, in March 2016, GSK (Glaxo Smith Kline) announced the introduction of pneumococcal vaccine at the lowest price - US$ 3.05 from 2017, a reduction of 10% from the 2016 price (US$ 3.40). Such tiered pricing approach enables emerging economies to meet demand for vaccines for large proportions of the target population. This price is set to be available through the pilot Advance Market Commitment (AMC) to all GAVI countries. Moreover, the vaccine will be sold at the same price for 10 years after transition.

Pneumococcal Vaccines Market- Regional Analysis

Regional segmentation of the global pneumococcal vaccines market by Coherent Market Insights comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to be the dominant region for pneumococcal vaccines market. This is majorly due to presence of key players in the region, which are focused on gaining regulatory approvals for novel pneumococcal vaccines. Moreover, increasing mortality rate associated with pneumonia, growing awareness regarding pneumonia infection, and its underlying symptoms among the U.S. population are expected to contribute to significant market growth in the region during the forecast period. For instance, according to the American Lung Association: 2015, around 56,832 deaths were registered due to pneumonia and influenza in 2013, which combined were the eighth leading cause of death in the U.S.

Growing healthcare infrastructure in emerging economies such as India and China and increasing initiatives by government bodies to include pneumococcal vaccine in their respective healthcare immunization programs contribute to wider adoption of pneumococcal vaccines in Asia Pacific. For instance, in November 2016, China Food and Drug Administration (CFDA) approved Pfizer, Inc.’s pneumococcal vaccine Prevenar 13, which is indicated to help prevent pneumococcal disease in infants aged between 6 weeks to 15 months. Moreover, in 2017, Government of India, in collaboration with GAVI, launched Pneumococcal Conjugate Vaccine (PCV) vaccines in three states of the country at low cost. Furthermore, under this partnership, 60% of all GAVI-procured vaccines will be manufactured in India.

These activities coupled with increasing approval of vaccines are expected to support growth of Asia Pacific pneumococcal vaccines market over the forecast period. Various manufacturers are focused on new projects that target diseases with no existing vaccine for various age groups. For instance, in April 2018, Merck, which is also known as MSD outside of the U.S. and Canada, started two Phase 3 studies for PCV-15 (V114), an investigational polyvalent conjugate vaccine against pneumococcal disease.

Key players operating in the pneumococcal vaccines market include, Pfizer, Inc., Merck & Co. Inc., and GlaxoSmithKline plc.

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This release was published on openPR.