According to the deep-dive market assessment study conducted by growth plus reports, the global pneumococcal vaccines market was pegged at ~US$ 8.3 billion in 2021. The market is expected to witness a CAGR of ~5.20 % from 2022 to 2030.
The factors contributing the growth of the global pneumococcal vaccines market are rise in prevalence of pneumococcal infections, increased geriatric population, high adoption rate, and improved healthcare systems.
The pneumococcal vaccine demand is attributed to a weakened immune system. Individuals’ ability to clear pathogens during the incubation period varies and is strongly related to age. Infants and children are especially vulnerable to infections because their natural defense mechanism is still developing. Once the immune system has matured, it begins to deteriorate with age which makes adults more prone to disease. The host immune response of streptococcus involves activation of phagocytic cells and destroying the bacterium via various TLR-mediated mechanisms, inducing B cells to produce cytokines such as TNF-, IL-6, and pro-IL.
A rise is seen in the geriatric population suffering from pneumococcal infections. As immune system weakens with age, the older adults suffer harder time fighting the disease. Adults aged 65 and up are at an increased risk of pneumococcal diseases. Adults of all ages are also more likely to develop pneumococcal disease if they have alcoholism, chronic heart disease, lung disease, kidney disease, or liver disease. Patients suffering from pulmonary disorders like asthma, and COPD (chronic obstructive pulmonary diseases) are at higher risk of the infection. In addition, these disorders lead to many changes in lung physiology such as increased air trapping (senile emphysema), decreased chest wall compliance, and decreased respiratory muscle strength which makes the adults vulnerable to the disease. As chronic diseases become more prevalent, patients will turn to vaccines for safe and effective results. Additionally, according to the National Foundation for Infectious Diseases (US), all adults 65 and older who have never received a pneumococcal conjugate vaccine (PCV) should receive one dose (either PCV20 or PCV15).
High adoption of vaccines for treatment of pneumococcal infections is noted, as vaccines provide better defense from the infections. In addition, vaccines used in the treatment can help patients deal with potentially serious and deadly infections by making the immune system remember about the infections. Physicians these days recommend the use of vaccines for the treatment because bacterium have become resistant to certain drugs which were traditionally used for the treatment. In addition, according to the CDC (Centers for Disease Control and Prevention), in three out of every ten cases, pneumococcal bacteria are resistant to one or more antibiotics. Additionally, higher demand for vaccines is attributed by awareness programs. The WHO (World Health Organization) recommends that all countries incorporate pneumococcal vaccines into their routine immunization programs.
Geographically, the global pneumococcal vaccines market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America has highest market evenue share in 2021. This is mainly due to the presence of key market players in the region, as well as established healthcare foundations and a large number of patients. For instance, the largest manufactures of pneumococcal vaccines Merck Sharp & Dohme Corp. are present in this region. The U.S. FDA (Food And Drug Administration) in June 2022 approved a drug by Merck called Vaxneuvance which is a pneumococcal 15-valent conjugate vaccine for children aged six weeks to seventeen years. European market is characterized by increased government initiatives for pneumonia, rise of pneumococcal infections in the population, and introduction of novel pneumococcal vaccines in the region. Asia Pacific is also expected to show significant rise in the forecast period, owing to factors such as high prevalence of infections, and increased geriatric population more prone to contaminations.
Some of the prominent players operating in the pneumococcal vaccines market are Astellas Pharma Inc., GlaxoSmithKline Plc., Merck & Co. Inc., Panacea Biotech Ltd., Pfizer Inc., Sanofi S.A., Walvax Biotechnology Co. Ltd, CSL Ltd., Serum Institute of India Pvt. Ltd., Talley Group Limited.