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Pneumococcal Vaccines Market (5.1% CAGR) 2018-2026: Global Industry Size, Share, Growth, Trends and Forecast

The latest market report published by Acute Market Reports, Inc. “Pneumococcal Vaccines Market By Vaccine Type (Pneumococcal Conjugate Vaccine, Pneumococcal Polysaccharide Vaccine), By Product Type (10-Valent PCV, 13-valent PCV, 23-valent PPSV) – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global market for pneumococcal vaccines was valued at US$ 7,108.7 million in 2017 and increased to CAGR by 5.1 per cent from 2018 to 2026.

Browse the full report at https://www.acutemarketreports.com/report/pneumococcal-vaccines-market

Market Insights

The World Health Organization and the United States Centers for Disease Control and Prevention (CDC) recommended pneumococcal vaccination for all adults above 65 years of age and children below 2 years of age. Pneumococcal vaccine may or may not completely protect against pneumonia, but significantly reduces the risk of invasive pneumococcal disease. Strong support from local government and private health organizations such as UNICEF and WHO has driven the market for pneumococcal vaccines. For example, GAVI, a private and public alliance, contributed US$ 1.5 billion to the Advanced Market Commitment (AMC) for pneumococcal vaccines. GAVI has helped 60 countries integrate pneumococcal vaccines into their routine programs and immunized more than 143 million children worldwide in 2017. Gavi also committed US$ 4 billion for pneumococcal vaccine by 2021. In addition, the increasing incidence of pneumococcal disease worldwide is a driving factor in the growing demand for pneumococcal vaccines. Pneumonia is the leading cause of death in children, accounting for more than 25% of child deaths below the age of 5. The increasing burden of antibiotic resistance is one of the major challenges facing the market.

In terms of the vaccine type, pneumococcal conjugate vaccines (PCVs) held the largest market share in the global pneumococcal market due to the increased number of PCV products on the market, i.e. PCV10 and PCV 13, respectively. In addition, ongoing clinical trials of PCV15 and PCV20 by Merck & Co., Inc. and Pfizer, Inc. will further boost the growth of the PCV market during the forecast period. The market for pneumococcal polysaccharide vaccine (PPSV) is projected to grow steadily during the forecast period. In terms of geography, North America held the largest market share in the global market for pneumococcal vaccines in 2017. Increased government funding and awareness programs in the region are fuelling the market. For example, pneumococcal conjugate vaccine (PCV) has been introduced in the routine immunization program to reduce the burden of pneumococcal disease. Europe has a significant market share due to effective vaccination programs in countries such as Italy, the Netherlands, the United Kingdom and other countries. Asia Pacific is expected to grow at the fastest rate during the forecast period due to high incidences of pneumococcal disease. High investment and pharmaceutical companies ‘ partnerships will further drive the market. In 2017, for example, Pfizer was granted patent protection for the company’s PCV in India. The key players on the market are Pfizer, Inc., Merck & Co. Inc., and GlaxoSmithKline plc.

Key Market Movements:

Growing burden of pneumococcal diseases worldwide and growing awareness regarding the same
Increasing government funding and introduction of effective vaccination programs to tackle the disease burden
High demand for pneumococcal vaccines in developing nations to drive the market
Strong support by WHO, UNICEF, GAVI and other private and public organization to fuel market growth

Report Scope by Segments

By Vaccine Type (2016–2026; US$ Mn)