Pneumococcal Vaccines Market Size & Share Analysis - Growth Trends and Forecast (2026 - 2031)

Global Pneumococcal Vaccines Market Trends and Insights

Increased GAVI-Funded Uptake in LICs After USD 2.75/Dose Tender Price

GAVI’s 2024 renewal of its Advance Market Commitment fixed pneumococcal conjugate vaccine procurement at USD 2.75 per dose, sustaining routine immunization in 57 low-income countries and injecting predictable volume that lifts the forecast CAGR by 1.2 percentage points. WHO prequalification of SK bioscience’s GBP301 in 2024 diversified supply and mitigated single-source risk. Long-run impact depends on governments co-financing doses as GAVI’s graduation schedules advance, a transition that could expose fragile health budgets to shortfalls. Manufacturers meanwhile pursue volume over margin, delaying ultra-valent launches in donor markets until new economics emerge.

Rising Prevalence of Pneumococcal Infections

CDC surveillance confirmed that invasive pneumococcal disease rates in U.S. adults 65+ remained above pre-pandemic baselines through 2024 despite PCV13 coverage, underscoring ongoing unmet need. Similar patterns persist in Asia-Pacific and Middle East & Africa where aging populations collide with historically low adult vaccination. The driver adds 0.8 percentage points to CAGR and is long term because building adult immunization infrastructure and reimbursement pathways is a slow, policy-heavy process. Emergent serotypes not covered by PCV13 further raise clinical urgency and validate higher-valent pipeline strategies.

Launch of Higher-Valent PCVs (PCV15/20/21)

Capvaxive’s approval in June 2024 brought eight new serotypes covering roughly 30% of U.S. adult disease burden, while Prevnar 20 won clearances in Japan and China, catalyzing guideline updates that have already widened adult eligibility. Rapid formulary inclusion in North America and Europe delivers a 1.5 percentage-point lift to CAGR. Health agencies moved swiftly; ACIP widened indications to adults 19-64 with risk factors, doubling the addressable base and accelerating commercial uptake^{[1]Centers for Disease Control and Prevention, “ACIP Recommendations,” CDC, cdc.gov}.

Pipeline of Ultra-Valent PCVs (≥ 30-Valent) Accelerating Due-Diligence Deals

Vaxcyte secured USD 1.2 billion in 2024 to advance VAX-31, a 31-valent candidate employing cell-free synthesis that could cut production timelines and costs. GSK’s acquisition of Affinivax and its MAPS platform highlights incumbent anxiety over disruptive technology. The driver adds 0.9 percentage points to CAGR but materializes in the long term because regulatory pathways for 30-plus valencies remain undefined.

High Manufacturing Cost of Conjugate Vaccines

Conjugation chemistry remains capital intensive, with 2024 U.S. estimates placing total capitalized development costs at USD 886.8 million per vaccine, shaving 0.7 percentage points off CAGR^{[2]U.S. Department of Health and Human Services, “Vaccine Development Costs,” HHS, hhs.gov}. Scale economies help incumbents, yet donor markets demand sub-USD 3 pricing, capping margins and slowing diffusion of higher valencies. Disruptive platforms like cell-free synthesis have potential but will not be validated at scale before 2028.

Serotype-Replacement Diminishing Long-Term Efficacy

Surveillance shows rising disease from serotypes 22F, 33F, and 35B five to ten years after PCV13 adoption, eroding confidence in legacy products and knocking 0.5 percentage points from CAGR. The phenomenon presses manufacturers into perpetual reformulation, raising R&D spend and regulatory workload.

Segment Analysis

By Vaccine Type: Conjugate Chemistry Dominates, Polysaccharides Fade

Pneumococcal conjugate vaccines held 77.55% of pneumococcal vaccines market share in 2025, a position supported by T-cell–dependent immunity that sustains herd protection in infants. Their 8.25% CAGR through 2031 reflects strong adoption in both pediatric and newly eligible adult cohorts. Pneumococcal polysaccharide vaccines trail because they lack memory response and face utility erosion as conjugate alternatives gain adult indications, particularly after ACIP’s 2024 recommendation favoring PCV20 or PCV15 before PPSV23. Emerging-market payers still deploy polysaccharides to contain budgets, but WHO prequalification trends and cost-reducing tech may ultimately accelerate their displacement.

Conjugate production costs remain higher, yet payers in high-income markets accept premium prices knowing that reduced boosters offset long-run expenses. GAVI programs exclusively source conjugates for infants, while many middle-income countries use polysaccharides for seniors only, creating a dual-track procurement landscape. New platforms like Vaxcyte’s cell-free synthesis could cut cost curves and entrench conjugate leadership by widening the price-efficacy gap.

By Product Type: Prevnar Franchise Faces Disruption

Prevnar 13 accounted for 47.53% of pneumococcal vaccines market size in 2025, but Prevnar 20 is expanding at a 15.85% CAGR on the strength of its seven extra serotypes and rapid approvals in Japan and China^{[3]Pfizer Inc., “Pfizer Receives Approval in Japan for Prevnar 20,” Pfizer, pfizer.com}. Merck’s Capvaxive (PCV21) entered the adult segment in 2024 and positions itself as a direct competitor with eight unique serotypes. Lower-valent Synflorix holds on in GAVI markets because of price advantages, yet efficacy-conscious middle-income buyers are gradually trading up.

Domestic Chinese producers such as Walvax and Beijing Minhai provide cost-competitive options, but their lower valency constrains penetration in urban private segments. The imminent arrival of VAX-31 could upend the hierarchy; if approved, its 31 valencies would reset the competitive baseline and hasten obsolescence of existing products in premium markets.

By Distribution Channel: Government Procurement Dominates, Private Retail Surges

Government authorities purchased 63.63% of 2025 doses, reflecting entrenched pediatric mandates and GAVI-funded campaigns. Nonetheless, private and retail pharmacies will grow at a 10.87% CAGR because adults often self-pay or rely on employer insurance, especially in the United States where pharmacies administer most adult vaccines. Retail access expanded in Europe after 2024 legislation authorized pharmacist administration in multiple member states, shifting volume away from hospital clinics.

Hospital-based vaccine clinics remain important for immunocompromised patients but cannot match the convenience of community outlets. NGOs and multilateral tenders, though smaller in revenue terms, set global price anchors, forcing manufacturers to fine-tune channel-specific pricing.

Note: Segment shares of all individual segments available upon report purchase

By Age Group: Pediatric Saturation Drives Adult Pivot

The pediatric cohort (< 5 years) retained 61.23% share in 2025, but growth is plateauing in high-income nations where coverage already exceeds 95%. The adult 19-64 segment will expand at a 6.7% CAGR through 2031 because new guidance and employer wellness programs create reimbursed demand. Merck’s Capvaxive was filed exclusively for adults to exploit this momentum, signaling a strategic pivot toward higher-priced adult doses. The geriatric segment remains steady as long-standing policies recommend vaccination for all adults 65+, yet payer negotiations are compressing price premiums.

Emerging markets present contrasting patterns: pediatric gaps persist, but adult immunization infrastructure is only nascent, producing a two-speed ecological map that requires tailored commercial approaches.

Geography Analysis

North America contributed 38.53% of 2025 revenue, propelled by Medicare’s 2024 elimination of cost-sharing for adult vaccines and rapid inclusion of PCV20 and PCV21 on formularies at USD 200-plus reimbursement levels. Canada and Mexico maintain high pediatric coverage, yet adult penetration lags. The Inflation Reduction Act will pressure prices from 2026, narrowing margins but likely expanding volume as co-pays fall.

Asia-Pacific is forecast to log a 6.21% CAGR through 2031, benefiting from multi-national approvals, domestic production, and tariff-free fill-finish operations. China and Japan now offer Prevnar 20, challenging domestic 13-valent competitors. India’s Serum Institute and South Korea’s SK bioscience supply GAVI at sub-USD 3 pricing, while private segments in Indonesia and Vietnam are beginning to pay premiums for higher valency. ASEAN regulatory harmonization could streamline clearances but remains uneven.

Europe sustains demand through centralized tenders that secure volume discounts; Germany, the United Kingdom, France, Italy, and Spain together represent the bulk of regional consumption. EMA’s 2024 acceptance of AI-generated serotype models may shorten timelines for ultra-valent approvals. Middle East & Africa and South America rely on donor or government tenders; cold-chain gaps and fiscal volatility limit uptake of premium products, yet localization projects like South Africa’s Biovac are slowly improving resilience.