(MENAFN- GlobeNewsWire - Nasdaq) “Pneumococcal Vaccine Market” from 2024-2034 with covered segments By Vaccine Type (Pneumococcal Conjugate Vaccine and Pneumococcal Polysaccharide Vaccine), By Product Type (Prevnar 13, Synflorix, Pneumovax 23), By Sector (Public and Private), By Distribution channel (Distribution partner companies, Non-governmental organization, government Authorities), and By Regional Forecast, (2024-2034), which provides the perfect mix of market strategies, and industrial expertise with new cutting-edge technology to give the best experience.
Covina, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Prophecy Market Insights forecasts that the global pneumococcal vaccine market will grow from USD 9.29 Billion in 2024 to USD 14.78 Billion by 2034 , driven by a compound annual growth rate (CAGR) of 5.2% throughout the forecast period.
Pneumococcal Vaccine Market Report Overview
Pneumococcal Vaccine are designed to protect against infections caused by streptococcus pneumoniae, a bacterium that can lead to serious illnesses such as pneumonia, meningitis, and bloodstream infections.
These vaccines are crucial in reducing the incidence and severity of pneumococcal disease, particularly in high-risk groups such as young children, elderly individuals, and people with compromised immune systems.
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Overview & introduction of market study Revenue and CAGR of market Drivers & Restrains factors of market Major key players in market Regional analysis of the market with a detailed graph Detailed segmentation in tabular form of market Recent development/news of market Opportunities & Challenges of Market
Competitive Landscape:
The Pneumococcal Vaccine Market is characterized by rapid growth, technological innovation and fierce competition. Companies are expanding their global presence, focusing on sustainability and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
Serum Institute of India Pvt. Ltd. Pfizer Merck Glaxosmith Kline plc Astra Zeneca Baxter International Sanofi Pasteur MSD CSL Ltd. Shenzhen Kangtai Biological Products Co., Ltd. (Beijing Minhai Biotechnology Corporation Limited) SK Bioscience and Walvax Biotechnology Co., Ltd
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Analyst View:
Pneumococcal vaccine market is growing steadily due to a number of causes, such as rising vaccination rates, growing immunization campaigns, and continuing improvements in vaccine science. Governments and health organizations worldwide are prioritizing pneumococcal vaccines as a critical element of public health strategies to prevent pneumococcal disease and its complications.
Market Dynamics:
Drivers:
Rising Awareness and Public Health Initiatives
Growth in the target market is being driven by rising awareness of the value of the pneumococcal vaccination and its role in preventing serious illnesses. Increased vaccination rates among high-risk populations are a result of public health campaigns and education initiatives that emphasize the advantages of vaccination.
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Market Trends:
Expansion of Vaccination Programs in Developing Regions
Expanding pneumococcal immunization programs is becoming more important in low- and middle-income nations where pneumococcal illness is highly prevalent. In these regions, target market expansion is being fueled by initiatives by governments and international organizations aimed at lowering the cost and increasing access to vaccines.
Segmentation:
Pneumococcal Vaccine Market is segmented based on Vaccine, Product Type, Sector, Distribution Channel, and Region.
Vaccine Insights
Pneumococcal conjugate vaccine is anticipated to boost the growth for target market as this vaccine is highly favored due to its efficacy in preventing pneumococcal diseases caused by Streptococcus pneumoniae, particularly in vulnerable populations such as infants, young children, and the elderly.
Product Type Insights
Prevnar 13 is anticipated to boost the growth for target market as it offers protection against a wide range of pneumococcal serotypes that are responsible for a significant proportion of pneumococcal diseases.
Sector Insights
Public sector is anticipated to boost the growth for target market as this is mostly because of the public health campaigns and government health programs that have an important role in how pneumococcal vaccinations are administered and distributed.
Distribution Channel Insights
Government authorities is anticipated to boost the growth for target market as governments regulate the approval and use of vaccines which ensures that they meet safety and efficacy standards. They also provide funding and financial support for vaccine programs that includes subsidies and reimbursement schemes which helps make vaccines affordable and accessible to the public.
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Recent Development:
In June 2024, A new pneumococcal vaccination called CAPVAXIVE was authorized by FDA. The vaccination is a 21-valent conjugate pneumococcal vaccine that is anticipated to rival Pfizer's current vaccine lineup. Additionally, the ACIP decided to suggest PCV 21 as a treatment option for people 19 years of age and above who currently have a PCV dosage indication.
Regional Insights
North America: This region is characterized by its early adoption of next-generation sequencing technologies and significant investments in research and development. This has led to the development and deployment of sophisticated Pneumococcal Vaccine tools and solutions. Asia Pacific: Efforts to increase vaccine accessibility and affordability, along with government initiatives and partnerships with international organizations, are enhancing vaccine uptake in this region.
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