Yahoo Finance Pneumococcal Vaccines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The global pneumococcal vaccine market is estimated to be USD 7,820. 88 million in 2021. It is expected to reach USD 10,177 million by 2027, registering a CAGR of 4. 61% from 2022 to 2027. The major factor attributing to the growth of the market increasing the prevalence of pneumococcal contaminations.
New York, May 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pneumococcal Vaccines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06279507/?utm_source=GNW
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, immunization process of other therapies and drugs, treatment procedures and supply chain worldwide which affected the growth of the studied market. 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 early lockdown the immunization programs are halted which later gain paced has impacted the growth of the market.
Additionally, the increased usage of the pneumococcal vaccine in COVID-19 patients has also boosted the growth of the market. For Instance, the Vaccine Journal article titled ‘Promising Expectations for Pneumococcal Vaccination during COVID-19’published in December 2021 concluded that Underlying medical conditions of patients of any age with S. pneumoniae increase the risk of severe illness; COVID-19 is now considered a primary risk factor for pneumococcal pneumonia and invasive pneumococcal disease. It also suggested that pneumococcal vaccination during the COVID-19 pandemic is more critical than ever. Also, the studies show positive results of pneumococcal vaccination in patients with COVID-19 and underlying medical conditions. Such studies are expected to propel the growth of the market.
The growing burden of deaths due to pneumonia is also boosting the growth of the market. For Instance, the World Health Organization article titled ‘Pneumonia: Factsheets ‘Updated in November 2021 reported that Pneumonia is the single largest infectious cause of death in children worldwide. It also reported that there are 740,180 children under the age of 5 are died due to it in 2019, which accounts for 14% of all deaths of children under five years old but 22% of all deaths in children aged 1 to 5. The same source also reported that pneumonia affects children and families everywhere, but deaths are highest in South Asia and sub-Saharan Africa. Such a high burden of deaths creates the need for early proper preventive measures which is expected to drive the growth of the pneumococcal vaccine market.
The number of market players are actively involved in the development of the novel vaccine and are in a different phase of the 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 phase 3 clinical trials for V116 are to be initiated later this year. 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.
However, the high cost involved in the production of vaccines, and the long duration for the process of production are the major drawbacks for market growth.
Key Market Trends
Pneumococcal conjugate vaccine segment expected to dominate the market throughout the forecast period
Pneumococcal conjugate vaccine helps protect against bacteria that cause pneumococcal disease. There are three pneumococcal conjugate vaccines (PCV13, PCV15, and PCV20). The different vaccines are recommended for different people based on their age and medical status. PCV13 is for infants and children PCV15 or PCV20 vaccines for adults 19 through 64 years old. With the increasing developments and initiatives form government of different countries is boosting the segment growth.
In May 2021, Pfizer Inc., announced that the first enrolled subjects have received their immunizations as part of a new study in adults ages 65 or older exploring the coadministration of the company’s 20-valent pneumococcal conjugate vaccine (20vPnC) candidate following a booster dose of the Pfizer-BioNTech COVID-19 Vaccine, currently authorized by the Food and Drug Administration (FDA) under an Emergency Use Authorization. The primary objective in the trial is to describe safety when both vaccines are co-administered, with follow up six months after vaccination. Secondary objectives are to describe immune responses produced by each of the vaccines.
In July 2021, Merck announced U.S. FDA approval of VAXNEUVANCE (Pneumococcal 15-valent Conjugate Vaccine) for the Prevention of Invasive Pneumococcal Disease in adults 18 years and older caused by 15 serotypes. VAXNEUVANCE was approved based on data from seven randomized, double-blind clinical studies assessing safety, tolerability, and immunogenicity in adults.
In November 2021, under the universal immunization program, the Pneumococcal Conjugate Vaccine (PCV) program was launched in Bengaluru, India. Chief Minister Basavaraj Bommai had launched the program in the State on October 22 at KIMS, Hubballi. Pneumococcal is the name of a group of diseases caused by a bacterium Streptococcus pneumoniae. Recently in May 2022, Union health minister of India, launched the nationwide expansion of Pneumococcal Conjugate Vaccine (PCV) under the Universal Immunisation Programme (UIP) as part of the “Azadi ka Amrit Mahotsav” initiative marking 75 years of India’s independence. Therefore, the increasing initiatives by the governments and the growing launches and trials regarding the same has expected to boos the segment growth in the forecast period.
North America Dominates the Market and Asia Pacific is Expected to grow at a higher CAGR in the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period. Factors such as the presence of key players and established healthcare infrastructure are the key factors accountable for its large share in the market.
According to the National Foundation for Infectious Diseases, updated in March 2022, pneumococcal pneumonia hospitalizes around 150,000 individuals in the United States each year, and the deaths associated with this infection are between 5% and 7%, or between 7,500 and 10,500 people. Adults 65 and older, as well as people with underlying health issues, have an even higher death rate. The high prevalence of pneumococcal infection the region is expected to drive the market growth in this region. In addition, rising research funding for pneumonia disease is further expected to boost the market growth. For instance, according to the National Institute report published in June 2021, the estimated funding for pneumonia in 2019 was USD 146 million and USD 223 million in 2020.
The presence of key market players and developed healthcare infrastructure are the main reasons responsible for the market’s large share. In July 2021, Merck’s VAXNEUVANCE(Pneumococcal 15-valent Conjugate Vaccine) (pronounced VAKS-noo-vans) was approved by the United States Food and Drug Administration (FDA) for active immunization to prevent invasive disease caused by Streptococcus pneumoniae serotypes 1, 3, 4, 5, 6A, 6B, 7F, 9V, 14, 18C, 19A, 19F, 22F, 23F, and 33F in adults aged 18 years and older. Thus, owing to aforesaid developments and increasing disease burden, the market in the region is projected to grow over the forecast period.
Competitive Landscape
The pneumococcal vaccine market is highly consolidated and consists of a few players. Some of the companies which are currently dominating the market are GlaxoSmithKline plc, Pfizer Inc., CSL Ltd., Merck & Co., Inc., Serum Institute of India Pvt. Ltd., Sanofi Pasteur Inc.
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