Pneumococcal Vaccine Polyvalent Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global pneumococcal vaccine polyvalent market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). A polyvalent vaccine is used to prevent infection by the bacterium streptococcus pneumonia. The Pneumococcal polyvalent vaccine contains highly purified capsular antigens from the 23 invasive pneumococcal types of streptococcus pneumonia to ensure cross-protection. According to the data published by World Health Organization (WHO) in 2021, Pneumonia accounted for 14.0% of all mortalities in children in 2019. Further, the WHO states that pneumonia can be protected with simple interventions and can be treated with low cost, low-tech medication, and care. Thus, the pneumococcal vaccines are anticipated to play a significant role in the prevention of pneumonia, which in turn will drive the growth of the global pneumococcal vaccine polyvalent market during the forecast period.

According to the data published by National Center for Biotechnology Information (NCBI), in July 2021, the annual incidence of pneumonia accounted for 24.8 cases per 10,000 adults in the US. However, the rate of incidence is anticipated to rise with the increase in the age of the individual. Moreover, the mortality rate reached 23.0% for the patients admitted to the intensive care unit (ICU). Therefore, the rising incidence of pneumonia across the globe is anticipated to propel the growth of the global pneumococcal vaccine polyvalent market.

Looking towards the demand for pneumococcal vaccine polyvalent key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in July 2021, Merck &Co. had received the US FDA approval of Vaxneuvance for the prevention of invasive pneumococcal disease in adults 18 years and old caused by 15 serotypes. The Vaxneuvance was approved based on data from seven randomized, double-blind clinical studies assessing safety, tolerance, and immunogenicity in adults.

In June 2021, Pfizer Inc. had received the US FDA approval for Prevnar 20 (pneumococcal 20-valent conjugate vaccine) for the prevention of invasive diseases and pneumonia caused by the 20 streptococcus pneumoniae serotypes in the vaccine in adults ages 18 years and older. In addition, the vaccine also contains capsular polysaccharide conjugates for seven additional serotypes such as 8, 10A, 11a, and more that cause invasive pneumococcal disease (IPD).

Further, in December 2020, the Serum Institute of India has announced the launch of Pneumosil. The drug assists to fight pneumococcal pneumonia amongst children. Pneumonia is developed through a collaboration spanning over a decade among Serum Insititute of India Pvt Ltd, PATH, and Bill and Melinda Gates Foundation. Through this collaboration, the vaccine has advanced from pre-clinical and clinical development to WHO pre-qualification. Therefore, this collaboration aimed at improving pneumococcal conjugate vaccine affordability and enabling sustainable access for low and middle-income countries. Thus, such product launches coupled with product approvals are anticipated to accelerate the growth of global pneumococcal polyvalent vaccine market during the forecast period.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Type
•By Age Group
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Merck & Co., Inc., GlaxoSmithKline plc, and Pfizer Inc. among others.

A full report Pneumococcal Vaccine Polyvalent Market of is available at:  https://orionmarketreports.com/pneumococcal-vaccine-polyvalent-market/92629/

Global Pneumococcal Vaccine Polyvalent Market Report by Segment
By Type
•Pneumovax 23
•Prevnar 13
By Age Group
•18 years and younger
•19 years to 64 years
•65 years and older

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.