Pneumococcal Vaccine Market Size & Share Analysis Forecast 2022-2030

Industry Insights

[224+ Pages Report] According to the report published by Facts Factors, the global pneumococcal vaccine market size was worth around USD 8.57 billion in 2021 and is predicted to grow to around USD 12 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.34% between 2022 and 2030. The report analyzes the global pneumococcal vaccine market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the pneumococcal vaccine market.

Market Overview

Pneumococcal diseases are caused by Streptococcus pneumonia that affects different parts of the body. When the bacteria affects the lungs it leads to pneumonia whereas in case it affects the bloodstream, the related medical condition is called sepsis and it impacts the brain covering, the resultant medical disease is called meningitis. All of the conditions are serious and may require the patient to undergo hospitalization. In severe cases, pneumococcal diseases are known to be fatal. However, they can also cause milder infections like sinusitis and middle-ear infection called otitis media.

Although everyone is at risk of contracting the diseases, the people who are more prone to the conditions include adults over the age of 65 years, children younger than 2 years of age, and children or adults who have certain medical conditions like lung disease, chronic heart disease, diabetes, or other immunity reducing conditions like certain types of cancer or Human immunodeficiency virus (HIV) infection. It is a contagious disease and may spread from one person to another due to sneezing, coughing, and other physically close contact circumstances. Children may carry the bacteria in the nose and the throat area without any medical condition and can spread the bacteria to other people.

Key Insights

• As per the analysis shared by our research analyst, the global pneumococcal vaccine market is estimated to grow annually at a CAGR of around 5.34% over the forecast period (2022-2030)
• In terms of revenue, the global pneumococcal vaccine market size was valued at around USD 8.57 billion in 2021 and is projected to reach USD 12 billion, by 2030.
• The market is projected to grow at a significant rate due to the growing cases of pneumonia across the world
• Based on sector segmentation, the public was predicted to show maximum market share in the year 2021
• Based on distribution channel segmentation, government authorities were the leading channel in 2021
• On the basis of region, North America was the leading revenue generator in 2021

Growth Drivers

• Growing cases of pneumonia to impact global market growth

The global pneumococcal vaccine market is projected to grow owing to the increasing number of pneumonia patients across the globe. As per the World Health Organization (WHO), pneumonia is responsible for 14% of deaths in children below 5 years of age. It led to the deaths of over 740,180 children in 2019, as per the official status submitted by WHO.

In children, the most common cause of the disease is Streptococcus pneumonia along with other reasons. It can spread due to various reasons and most of them are airborne. The medical condition is characterized by symptoms like rapid heartbeat and dry cough or in some cases, it may produce green, thick yellow, blood-stained or brown mucus called phlegm.

Other symptoms include difficulty in breathing, shivering, and sweating. As per the official data of the American Lung Association, it impacts nearly 900,000 US citizens every year. If the bacteria affects the lung, it can potentially spread to other organs and cause organ failure which is known to be fatal in most cases.

Restraints

• Medical concerns associated with the vaccine to restrict market expansion

The global market is projected to face growth restrictions owing to the various medical concerns associated with the use of the injection of pneumococcal vaccine. As described by the Centers for Disease Control and Prevention, some of the most common side effects reported after using PCV 13 included issues like swelling at the injection site, pain, limited movement of the injected arm, redness, headache, tiredness, and generalized muscle pain. A 2012 report also stated that children who received 2010 and 2011 trivalent influenza vaccines along with PCV 13 were at a high risk of fever-induced seizures.

Opportunities

• Growing elderly population to provide growth opportunities

The geriatric population is at a high risk of getting infected by Streptococcus pneumoniae which causes different types of pneumococcal diseases. The growing geriatric population could lead to more demand for pneumococcal vaccines. Research studies have concluded that the mortality rate in the geriatric population due to bacterial meningitis is high. Patients who have had their spleen removed are also high-risk patients.

On average, more than 22,000 patients undergo splenectomy, the operational process of spleen removal every year. Splenectomy is conducted due to various factors. For instance, if the organ is not functioning properly or if it has been damaged, enlarged, or diseased.

Challenges

• High cost of branded vaccines to challenge the market expansion

One of the key points that could challenge global market growth involves the high cost associated with branded pneumococcal vaccines. For instance, Prevnar 13, at a private center, may cost up to USD 226.43. Although there are other options available, the cost is relatively higher as compared to the income strength of many families in developing or underdeveloped nations.

Segmentation Analysis

The global pneumococcal vaccine market is segmented based on sector, vaccine type, distribution channel, product type, and region

Based on sector, the global market divisions are public and private. The former deals with generic vaccines made available to the population under government schemes and undertaken by regulatory authorities. In 2021, the public sector registered the highest growth rate owing to the increase in the distribution and administration of generic vaccines as compared to private sector vaccines due to the high cost of these medications. 7 valent (PCV7) was considered the most expensive vaccine falling under publicly funded programs. The gross cost of vaccination accounted for AUD 78.6 million in 2001.

Based on distribution channel, the global market divisions are non-government organizations, distribution partner companies, and government authorities. The global market is led by the government authorities segment due to exhaustive measures undertaken by the regional government to eliminate pneumococcal concerns in the country.

For instance, in India, under government regulation, pneumococcal vaccines were given to all infants across Indian states at no charge, under the country’s immunization program. The Indian Academy of Pediatrics has recommended 3 doses of pneumococcal vaccines at 6 weeks, 10 weeks, and 14 weeks with a booster shot to be given at 15 months.

Recent Developments:

• In August 2022, Pfizer announced positive results from the phase-3 studies conducted to understand the impact of the 20-valent pneumococcal conjugate vaccine in infants
• In June 2021, the US Food and Drugs Administration approved the PREVNAR 20™, a 20-valent conjugate vaccine developed by Pfizer to be used for adults over the age of 18 years

Report Scope

Regional Analysis

• North America to lead with the highest market share

The global pneumococcal vaccine market is projected to register the highest growth in North America with the US leading with the highest regional market share. The growth is attributed to the presence of some of the most dominating players responsible for the development of widely used pneumococcal vaccines. For instance, Pfizer, a global multinational pharmaceutical giant originated in the US. Since its inception, the company has managed to make breakthrough research and innovation across the medical and healthcare field.

As of 2021, the total assets of the company are worth USD 181.48 billion. It sells over 300 drugs in the US market. The regional growth may also be influenced by the high-awareness rate about the conditions and treatment programs along with accessibility and availability of the medicines. The high standard of living, excellent medical reimbursement policies, and a high-grade medical infrastructure, in general, allow the population to invest in vaccines even if they are expensive.

Competitive Analysis

• Merck & Co. Inc. 
• Astellas Pharma Inc. 
• Walvax Biotechnology Co. Ltd. 
• Panacea Biotec Ltd. 
• GlaxoSmithKline Plc. 
• Serum Institute of India Pvt Ltd 
• Sanofi 
• Pfizer Inc.

The global pneumococcal vaccine market is segmented as follows:

By Sector Segment Analysis

• Public
• Private

By Vaccine Type Segment Analysis

• Pneumococcal Polysaccharide Vaccine
• Pneumococcal Conjugate Vaccine

By Distribution Channel Segment Analysis

• Non-Government Organizations
• Distribution Partner Companies
• Government Authorities

By Product Type Segment Analysis

• Pneumovax 23
• Synflorix
• Prevnar 13

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America