Pneumococcal Vaccines Market Size

Pneumococcal Vaccine Market Analysis

The Pneumococcal Vaccines Market size is estimated at USD 8.80 billion in 2024, and is expected to reach USD 11.20 billion by 2029, growing at a CAGR of 4.83% during the forecast period (2024-2029).

This pandemic had a dramatic effect throughout the world, especially in developing countries and on their country's healthcare systems, with significant impacts not only on the patients infected with COVID-19 but others as well, which resulted in disruption in research and development activities. The outbreak of COVID-19 showed a bit positive impact on the pneumococcal vaccine market. They can also be applied in the treatment of COVID-19. However, during the early lockdown, the immunization programs were halted, which later gain paced has impacted the market's growth. Additionally, the increased usage of the pneumococcal vaccine in COVID-19 patients has boosted the market's growth. For Instance, the Vaccine Journal article published in December 2021 concluded that Underlying medical conditions of patients of any age with S. pneumonia increase the risk of severe illness; COVID-19 was considered a primary risk factor for pneumococcal Pneumonia and invasive pneumococcal disease. It also suggested that pneumococcal vaccination during the COVID-19 pandemic was more critical than ever. Also, the studies showed positive results of pneumococcal vaccination in patients with COVID-19 and underlying medical conditions. Such studies boosted the market growth during the pandemic. In the coming years, the market is expected to witness significant growth owing to the increase in research activities and pipeline studies for the pneumococcal vaccine across the globe.

Factors such as the growing burden of Pneumonia cases, increasing government awareness programs regarding pneumonia immunization programs, and the introduction of novel pneumococcal vaccines are expected to bolster the market growth over the forecast period. For instance, in March 2022, the Ministry of Health and Family Welfare, as part of the National Health Mission's Reproductive, Maternal, Newborn, Child, Adolescent, and Adolescent Health and Nutrition (RMNCHA+N) program, developed the SAANS (Social Awareness and Actions to Neutralize Pneumonia Successfully) Initiative to reduce deaths from Childhood Pneumonia in both rural and urban areas which are expected to show significant growth over the forecast period.

Several market players are actively involved in developing novel vaccines and are in different phases of clinical trials. For Instance, in April 2022, Merck reported that its investigational 21-valent pneumococcal conjugate vaccine, V116, has received breakthrough therapy designation from the United States Food And Drug Administration (FDA) for the prevention of Invasive Pneumococcal Disease (IPD) and pneumococcal Pneumonia caused by Streptococcus pneumoniae serotypes 3, 6A/C, 7F, 8, 9N, 10A, 11A, 12F, 15A, 15B/C, 16F, 17F, 19A, 20, 22F, 23A, 23B, 24F, 31, 33F, 35B in adults 18 years of age and older. The positive results from such clinical trials may lead to the introduction of novel vaccines in the market and thus expected to propel the growth of the market. Moreover, in June 2021, PREVNAR 20 (Pneumococcal 20-valent Conjugate Vaccine) developed by Pfizer has been approved by the United States Food and Drug Administration (FDA) for the prevention of invasive illness and pneumonia caused by the 20 Streptococcus pneumonia (pneumococcus) serotypes in the vaccine in adults aged 18 and above. Furthermore, in June 2022, Researchers at Karolinska Institutet identified a new vaccine candidate against pneumococci, bacteria that can cause pneumonia, sepsis, and meningitis. The vaccine molecules comprise nano-sized membrane vesicles produced by the bacteria and provide protection in mice.

Hence, owing to the increase in awareness regarding pneumonia and the rise in product launches, the studied market is expected to witness significant growth over the forecast period. However, the high cost involved in producing vaccines and the long process duration is the major drawbacks to market growth.