Global Pneumococcal Vaccine Market to Showcase a 6.26% CAGR till 2028: Next-Gen Pneumococcal Vaccines Revolutionizing Protection, Driving Market Growth Through Combination Products
Dublin, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The "Pneumococcal Vaccine Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" report has been added to * ResearchAndMarkets.com's* offering.
The Global Pneumococcal Vaccine Market has experienced a significant surge in growth, with its valuation at USD 9.63 billion in 2022. This market analysis projects an impressive CAGR of 6.26% from 2022 to 2028, signaling a robust expansion over the next six years. The market's progression is bolstered by the increased global awareness of pneumococcal diseases and expansive immunization programs. The market is projected at 13.78 billion by 2028.
*Key Market Drivers and Opportunities*
Rising global awareness of the severe health implications of pneumococcal diseases has been a crucial driver of market growth. Educational campaigns and public health initiatives have substantially increased understanding and urgency around preventing these life-threatening illnesses. With governments incorporating vaccination programs into national healthcare strategies, access to vaccines has broadened, driving demand across various demographic groups. The ongoing COVID-19 pandemic has also heightened public and institutional awareness about the importance of vaccines to global health safety nets. This awareness, combined with the boost in vaccine manufacturing infrastructure, positions pneumococcal vaccines as an essential element of pandemic preparedness and response.
Pharmaceutical innovations continue to play a defining role in market expansion. Advanced vaccine formulations, such as Pneumococcal Conjugate Vaccines (PCVs), have improved efficacy and have proven to be fundamental in preventing infections from a multitude of pneumococcal strains. Additionally, these innovations have fostered expanded age group targeting for vaccinations, further broadening the market. The profound public health impact of effectively administered pneumococcal vaccines is indisputable. There has been a marked decrease in pneumococcal infections, hospitalizations, and mortality rates - particularly in at-risk populations such as children and the elderly. These improvements in public health support ongoing market growth.
*Key Market Challenges*
Addressing economic disparities in vaccine accessibility between countries remains a significant challenge. Supply chain efficiency, especially in maintaining vaccine efficacy through proper storage conditions, presents logistical challenges that impact market potential. Furthermore, continuously evolving Streptococcus pneumoniae serotypes necessitate relentless vaccine development and optimization.
*Emerging Trends*
The market is witnessing substantial developments with the introduction of next-generation pneumococcal vaccines that promise broader and more effective protection. The convergence of vaccines in combination products is facilitating immunization efficiency and is anticipated to drive future market growth. Innovative vaccine delivery technologies, including needle-free systems, present groundbreaking approaches to streamline vaccination processes, enhancing accessibility particularly in areas with limited resources.
*Regional Market Analysis*
In the forecast period, North America is expected to continue commanding a considerable share of the Global Pneumococcal Vaccine Market. Factors feeding into this dominance include a strong presence of key market players, sophisticated healthcare systems, and active government participation in vaccination initiatives. Recent vaccine approvals and the expansion of vaccination programs underscore the region's commitment to combating pneumococcal diseases and support the prediction of continued market growth.
*Competitive Landscape*
The competitive landscape showcases detailed analyses of the major companies within the Global Pneumococcal Vaccine Market. Through proactive strategies and innovations, these market players contribute to the industry's growth trajectory and public health improvements worldwide.
*Key Attributes*
*Report Attribute* *Details*
No. of Pages 178
Forecast Period 2022-2028
Estimated Market Value (USD) in 2022 $9.63 Billion
Forecasted Market Value (USD) by 2028 $13.78 Billion
Compound Annual Growth Rate 6.2%
Regions Covered Global
*A selection of companies mentioned in this report includes:*
· GSK PLC
· Pfizer Inc
· Merck KGaA
· Serum Institute of India Pvt. Ltd.
· CSL Ltd
· Sanofi SA
· Walvax Biotechnology Co. Ltd.
· Beijing Minhai Biotechnology Limited Company
For more information about this report visit https://www.researchandmarkets.com/r/1962r3
*About ResearchAndMarkets.com*
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
*Attachment*
· Global Pneumococcal Vaccine Market
CONTACT:
CONTACT: ResearchAndMarkets.com
Laura Wood,Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900