Market Snapshot:
The very first pneumococcal vaccine was made in the year 1980s. It is on the World Health Organization's List as one of the Essential Medicines, which is the safest and most effective medicines that are needed in any health system. These vaccines are normally very safe. With this conjugate vaccine, almost 10 percent of the babies develop redness at the site of injection, change in sleep, and sometimes fever. Severe kind of allergies is very rarely seen. Pneumococcal vaccines are the vaccines that fight against the bacterium streptococcus pneumoniae. The usage of these can effectively prevent some cases of pneumonia, sepsis, and meningitis. There are namely two types of pneumococcal vaccines as conjugate vaccines and polysaccharide vaccines. These are given by the means of injection either into a muscle area or just under the skin. The World Health Organization (WHO) acclaims the usage of the conjugate vaccine in routine immunization which is to be given to the children. This also includes those with that of HIV/AIDS. These vaccines, are effective for healthy adults but are not quite effective in children who are less than two years old and those having a very poor immune function. In 2013, the World Health Organization and UNICEF had issued a global plan of action for the Prevention and Control of Pneumonia and Diarrhea (GAPPD), hence marking a new chapter in the efforts towards curbing pneumonia. At present, we’re up against a very new challenge which is the COVID-19 pandemic. The coronavirus is responsible for respiratory diseases and some of those who are infected lead on to develop pneumonia. The respiratory diseases like COVID-19 are very commonly spreading by the exposure to droplets from an infected person’s sneeze or cough, or through contact with any kind of contaminated surfaces. As such, poor hygiene or sanitation and overcrowding are some of the important drivers of the transmission. Vaccines can prove out to be one of the keys to prevention. They are the global health best deal and the very first line of defense against respiratory diseases. Unlike the more affordable and available vaccines for pneumonia-like the pneumococcal vaccine which are highly crucial for freeing up the healthcare resources and at the same time enabling herd immunity. Nevertheless, the vaccines against pneumonia, like the pneumococcal vaccine do not exactly provide any sort of protection against COVID-19. Although these vaccines are not very effective against the COVID-19, the vaccination against the prevention of respiratory illnesses is highly recommended for the protection of health. Due to less consumption and the need for the vaccines the market is likely to grow at a very slow rate. The global pneumonia vaccines market was valued at USD 5230 million in 2019 and is expected to reach USD 5924.56 million by 2025, growing at a CAGR of 2.1 % from 2019 to 2025.The research analyst at AMA estimates Pneumococcal Vaccine market to grow at a compounded annual growth rate of 2.1%
Segment Analysis
AMA Research have segmented the market of Global Pneumococcal Vaccine market by Type, Application and Region. On the basis of Type, Conjugate PCV13 are dominating the market in the year 2020 where as Polysaccharide PPV23 stood as second largest market share.
On the basis of geography, the market of Pneumococcal Vaccine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
The Rising Awareness among the Patients about Pneumococcal Vaccines and Its Benefits Has Boosted the Pneumococcal Vaccines Market and The Growing Trend of Easier Access to Healthcare Facilities and the Provision of Low-Cost Pneumonia Vaccines Has Also Attracted Several Consumers Causing the Market’s Growth
Market Drivers
The Developing Countries Are Progressively Investing in the Manufacturing of Vaccines That is leading to an Expansion in the Global Pneumococcal Vaccines Market and There Are Several Initiatives Taken By the Governments for Prevention of Pneumonia and Has Hence Supported in the Expansion of the Market
Opportunities
Continuous Research and Development Activities and Great Initiatives Taken By the Governments Would Provide New Opportunities for the Market and New Growth Opportunities for the Global Pneumococcal Vaccines Market Have Been Created With the Development of the Protein Vaccines for Pneumococcal Diseases
Restraints
- The Higher Costs That Are Associated With the Manufacturing of the Vaccines Can Cause a Hindrance to the Growth of the Market
In addition to the aforementioned factor, The Developing Countries Are Progressively Investing in the Manufacturing of Vaccines That is leading to an Expansion in the Global Pneumococcal Vaccines Market
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
In the Pneumococcal Vaccine Market, it has been observed that most of the companies are upgrading or introducing innovative products. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.
The key Players profiled in the study are GlaxoSmithKline (United Kingdom), Novartis (Switzerland), Pfizer Inc. (United States), Merck & Co., Inc. (United States), Sanofi Pasteur (France), Protein Sciences Corporation (United States), Seqirus (United States), LG Chem Ltd. (South Korea), Walvax Biotechnology Co., Ltd. (China), Panacea Biotec (India), Pnuvax Incorporated (Canada) and Serum Institute of India Pvt. Ltd. (India). A lot of Asia Pacific players are profiled in the research study indicating a strong market dependence.