23-Valent Pneumococcal Polysaccharide Vaccine Market Set to Hit USD 2.38 Billion by 2031, Registering 10.3% CAGR Growth from 2025 to 2031

The global 23-Valent Pneumococcal Polysaccharide Vaccine market is broadly studied in the report with large focus on market competition, segmentation, geographical expansion, and other important aspects. The analysts who have prepared the report are highly experienced in market research and possess vast knowledge about the global 23-Valent Pneumococcal Polysaccharide Vaccine market. The report includes deep analysis of microeconomic and macroeconomic factors impacting the growth of the global 23-Valent Pneumococcal Polysaccharide Vaccine market. It also offers analysis of production, sales, and consumption growth in the global 23-Valent Pneumococcal Polysaccharide Vaccine market. With the help of exhaustive research studies provided in the report, readers can easily become familiar with key dynamics of the global 23-Valent Pneumococcal Polysaccharide Vaccine market, including drivers, restraints, and opportunities.

The global 23-Valent Pneumococcal Polysaccharide Vaccine market was valued at US$ 1211 million in 2024 and is anticipated to reach US$ 2380 million by 2031, witnessing a CAGR of 10.3% during the forecast period 2025-2031.

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Market Drivers:

The 23-Valent Pneumococcal Polysaccharide Vaccine (PPSV23) market is driven by the increasing prevalence of pneumococcal infections, particularly among high-risk populations such as the elderly, children, and immunocompromised individuals. Governments and health organizations worldwide are promoting vaccination programs to reduce the burden of pneumococcal diseases, which has significantly boosted market growth. Additionally, rising awareness about the importance of preventive healthcare and advancements in vaccine manufacturing technologies contribute to the increased adoption of PPSV23 vaccines.

Market Challenges:

However, the market faces challenges such as the high cost of vaccination, which limits accessibility in low- and middle-income countries. Moreover, the competition from newer pneumococcal conjugate vaccines (PCVs), which offer broader coverage and are preferred for pediatric use, poses a threat to PPSV23's market share. Another concern is vaccine hesitancy and misinformation, which can hinder immunization efforts and impact the overall market growth.

Merck is the largest manufacturers of 23-Valent pneumococcal polysaccharide vaccine in the world, has a share about 78%. Other players include Sinovac, Kangtai Bio, CDIBP, Walvax, etc. United States is dominating the global 23-Valent pneumococcal polysaccharide vaccine market, has a share nearly 78% in terms of production. The largest market is United States, holds a share about 48%, followed by China and Europe, with around 25% and 22% market share respectively.

The trends analysis offered in the report will help players operating in the global 23-Valent Pneumococcal Polysaccharide Vaccine market to cash in on lucrative business opportunities. The regional analysis included in the report will help players to explore untapped markets and increase their market presence in key regions. Most importantly, the report offers crucial market information and data that will prepare players to effectively strategize for their business to gain significant profits. On the whole, it comes out as a powerful tool that players can use to gain a competitive edge in the global 23-Valent Pneumococcal Polysaccharide Vaccine market.

Competitive landscape is one of the most interesting subjects of any market research study. It provides readers with important information on competition trends, prominent players, and nature of competition. In this report, the authors have profiled some of the top-ranking as well as other players of the global 23-Valent Pneumococcal Polysaccharide Vaccine market. In the company profiling section, each player is comprehensively studied while focusing on its market share, recent developments, production, gross revenue, profit margin, and other factors. The competitive analysis shared in the report will help players to improve their strategies to better compete with other companies.

Key Players Dominating the Global 23-Valent Pneumococcal Polysaccharide Vaccine Markets are:

Merck
Sinovac
Kangtai Bio
CDIBP
Walvax

All of the segments of the global 23-Valent Pneumococcal Polysaccharide Vaccine market analyzed in the report are deeply studied while concentrating on their market share, CAGR, and growth opportunities. The segmentation study provided in the report will help players to identify rewarding growth prospects available in the global 23-Valent Pneumococcal Polysaccharide Vaccine market. Furthermore, it offers a clear and thorough evaluation of key segments so that players could bank on profit-making areas of the global 23-Valent Pneumococcal Polysaccharide Vaccine market. The analysts have explained each factor contributing to the growth of leading segments. In addition, they have provided a near-accurate prediction of the growth potential of each segment.

Segment by Type

Single Dose Vial
Pre-filled Syringe

Segment by Application

For Children (Over 2 Years Old)
For Adult

The segment of the market features the areas that are secured under the global 23-Valent Pneumococcal Polysaccharide Vaccine market are North America, South East Asia, Japan, India, China, and Europe. The regional analysis provided in the research study is an outstanding attempt made by the researchers to help players identify high-growth regions and modify their strategies according to the specific market scenarios therein. Each region is deeply analyzed with large focus on CAGR, market growth, market share, market situations, and growth forecast.

Segment by Region

North America
United States
Canada

Europe
Germany
France
U.K.
Italy
Russia

Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia

Latin America
Mexico
Brazil
Argentina

Middle East & Africa
Turkey
Saudi Arabia
UAE

Methodology and Data Sources

The researchers used reliable primary and secondary information and data sources to compile the report. As part of the primary research process, they personally interviewed important entities and companies from the supply as well as demand side of the industry. These include key executives, innovation specialists, technology experts, marketing managers, vice presidents, chief financial officers, and chief executives. For secondary research, the analysts used articles by popular authors, company financial reports, quarterly and annual earnings presentations, web data, information from government and regulatory databases, and official journals.

The researchers used some important parameters for market forecasting: future capacity additions, current capacity, anticipated developments in the market and the industry, regulatory scenarios, price trends, supply and demand trends, raw material scenarios, key drivers and restraints, and their predicted impact on the global market.

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Market Report Objectives

(1) Analyzing the size of the global 23-Valent Pneumococcal Polysaccharide Vaccine market on the basis of value and volume

(2) Accurately calculating the market shares, consumption, and other vital factors of different segments of the global 23-Valent Pneumococcal Polysaccharide Vaccine market

(3) Exploring key dynamics of the global 23-Valent Pneumococcal Polysaccharide Vaccine market

(4) Highlighting important trends of the global 23-Valent Pneumococcal Polysaccharide Vaccine market in terms of production, revenue, and sales

(5) Deeply profiling top players of the global 23-Valent Pneumococcal Polysaccharide Vaccine market and showing how they compete in the industry

(6) Studying manufacturing processes and costs, product pricing, and various trends related to them

(7) Showing the performance of different regions and countries in the global 23-Valent Pneumococcal Polysaccharide Vaccine market

(8) Forecasting the market size and share of all segments, regions, and the global market.

Key Questions Answered in the Market Research Report

(A) Which are the five top players of the global 23-Valent Pneumococcal Polysaccharide Vaccine market?

(B) How will the global 23-Valent Pneumococcal Polysaccharide Vaccine market change in the next five years

(C) Which product and application will take a lion's share of the global 23-Valent Pneumococcal Polysaccharide Vaccine market?

(D) What are the drivers and restraints of the global 23-Valent Pneumococcal Polysaccharide Vaccine market?

(E)Which regional market will show the highest growth?

(F) What will be the CAGR and size of the global 23-Valent Pneumococcal Polysaccharide Vaccine market throughout the forecast period?

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