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Global Defense Against Pneumococcal Diseases: The Evolving Vaccine Landscape
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According to The Business Research Company's, The pneumococcal vaccine market size has grown strongly in recent years. It will grow from $8.47 billion in 2023 to $9.04 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to discovery of streptococcus pneumoniae, public health concern, early vaccination efforts, healthcare advancements, vaccine policy changes.
The pneumococcal vaccine market size is expected to see strong growth in the next few years. It will grow to $11.36 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to evolving pneumococcal strains, continued research and development, immunization priorities, expanded vaccine access, population aging. Major trends in the forecast period include multivalent vaccine development, vaccination in at-risk group, boosting vaccine efficacy, education and awareness campaigns, targeting infant immunization.
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Market Drivers and Trends:
The increasing prevalence of pneumococcal contamination is expected to propel the growth of the pneumococcal vaccine market going forward. Pneumococcal contamination refers to any infection caused by bacteria called Streptococcus pneumoniae or pneumococcus, such as pneumonia, bloodstream infections, ear infections, and sinus infections. The pneumococcal vaccine stimulates the body to produce antibodies against pneumococcal bacteria to reduce or destroy disease-carrying bacteria and toxins to protect children, the elderly, and those with weakened immune systems from many types of pneumococcal infections. For instance, in January 2022, according to the Center for Disease Control and Prevention, a US-based agency for public health, Pneumococcal pneumonia causes an estimated 150,000 hospitalizations per year in the United States, accounting for up to 30% of adult community-acquired pneumonia. Therefore, the increasing prevalence of pneumococcal contamination is driving the growth of the pneumococcal vaccine market.
Major companies operating in the pneumococcal vaccine market are innovating new products to increase their profitability in the market. For instance, in July 2023, Merck & Co Inc., a US-based pharmaceuticals company launched V116 vaccine. V116 is intended to target the eight distinct serotypes of Streptococcus pneumoniae that are primarily responsible for adult pneumococcal disease. Compared to other pneumococcal vaccines, V116 has shown better immunogenicity for a variety of serotypes in adult populations, and it has also produced positive immune responses in both vaccine-naïve and previously vaccinated individuals. The U.S. Food and Drug Administration (FDA) has designated V116 as a breakthrough therapy, and it is currently in Phase 3 development.
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson, Merck & Co. Inc., Novartis International AG, Sanofi S.A., AstraZeneca plc, GlaxoSmithKline plc, Eli Lilly and Company, Astellas Pharma Inc., CSL Limited, Anhui Zhifei Longcom Biopharmaceutical Co. Ltd, Serum Institute of India Private Limited, Emergent BioSolutions Inc., Walvax Biotechnology Co. Ltd, Biological E Limited, Hualan Biological Engineering Inc., Valneva SE, Beijing Minhai Biotechnology Limited Company, NPO Petrovax Pharm LLC, Vaxcyte Inc., Panacea Biotec Ltd, Inventprise LLC, Tergene Biotech Private Limited, PnuVax Incorporated, SK Bioscience Co Ltd
Pneumococcal Vaccine Market 2024 Key Insights:
• The pneumococcal vaccine market size is expected to see strong growth in the next few years. It will grow to $11.36 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• Rising Prevalence Of Pneumococcal Contamination Drives Growth In Pneumococcal Vaccine Market
• Breakthrough In Vaccine For Enhanced Adult Protection
• North America was the largest region in the pneumococcal vaccine market in 2023
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