Global Pneumococcal Vaccine Market Projected to Grow at 8.3% CAGR through 2026

The global pneumococcal vaccine market is projected to grow at a CAGR of 8.3% during the assessment period 2017-2026, according to a latest research report added to the vast database of Market Research Reports Search Engine (MRRSE). According to the report titled “Pneumococcal Vaccines Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026”, rising consumer awareness and favorable government policies are promoting the growth of the global market.

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According to the report, concerted efforts by both government and private sector to curb the threat of pneumoniae has led to increased demand for pneumococcal vaccines. Governments in developed countries have made pneumococcal vaccines a standard in their healthcare offerings, whereas public-private partnership in developing countries is fostering sales of pneumococcal vaccines in developing countries. However, the high cost of these vaccines continue to challenge adoption, especially in cost-intensive markets. Further, there is limited awareness among parents in developing countries about the importance of pneumococcal vaccines.

In addition to offering detailed analysis on the key drivers, restraints, opportunities, and threats influencing market growth, the report also offers lucid segment-wise insights to give readers a holistic perspective on market scenario. The market has been analyzed on the basis of product type, distribution channel, and region. By product type, the key segments include 7-Valent, 23-Valent, 13-Valent, and 10-Valent. The key distribution channels analyzed in the report include hospitals, clinics, and others. The region-wise analysis includes North America, Latin America, Europe, Japan, Asia Pacific excluding Japan (APEJ), and Middle East & Africa (MEA).

According to the report, 13-Valent pneumococcal vaccines are likely to remain the largest product segment. By the end of forecast period, the demand for 13-Valent pneumococcal vaccines is likely to reach a valuation of US$ 9.5 Bn. This product type also includes 19A and 6A serotypes, which have promoted their growth among end-users. By distribution channel, hospitals are likely to remain the largest segment, and are projected to rake in nearly US$ 12.4 Bn worth of revenues by the end of forecast period.

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North America continues to be the largest market for pneumococcal vaccines globally. The demand for pneumococcal vaccines in North America is concentrated in the US. Western Europe and APEJ are the other key markets for pneumococcal vaccines globally. The report also includes a competitive landscape that profiles the strategies of some of the leading players in the market. Some of the key players include Merck & Co. Inc., Sanofi, Pfizer, Inc., and GlaxoSmithKline PLC.

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This release was published on openPR.