Market Trends of Pneumococcal Vaccines Industry
The Pneumococcal Conjugate Vaccine Segment is Anticipated to Witness Growth Over the Forecast Period
The pneumococcal conjugate vaccine provides immunity against the bacteria responsible for pneumococcal infections. Three types of pneumococcal conjugate vaccines are available: PCV13, PCV15, and PCV20. PCV13 is appropriate for infants and children, while PCV15 or PCV20 vaccines are intended for adults between 19 and 64 years of age.
The pneumococcal vaccine segment is anticipated to experience substantial growth in the market, which is attributed to the ongoing developments, initiatives, and strategic initiatives by market players. Enhanced investments in developing pneumococcal conjugate vaccines fuel the segment's expansion.
The rising product approvals are likely to help healthcare providers treat pneumonia, thus driving the market’s growth. For instance, in January 2023, the US Food and Drug Administration (FDA) accepted for priority review the supplemental biologics license application for Pfizer's 20-valent pneumococcal conjugate vaccine candidate (20vPnC), which targets 20 Streptococcus pneumoniae serotypes to prevent invasive pneumococcal disease (IPD) in infants (aged six weeks) and children up to 17 years. The vaccine also aims to protect against otitis media caused by seven of the 20 Streptococcus pneumoniae serotypes.
Various vaccine programs are likely to boost the pneumococcal vaccine adoption, positively impacting the market growth. For instance, in May 2022, India's Union health minister inaugurated the nationwide rollout of the Pneumococcal Conjugate Vaccine (PCV) under the Universal Immunisation Programme (UIP) as part of the "Azadi ka Amrit Mahotsav" initiative celebrating 75 years of Indian independence. Therefore, such government initiatives, coupled with the increasing product launches and clinical trials, are anticipated to fuel the segment’s growth over the forecast period.
Thus, with increasing strategic activities of the market players, rising research activities, and government initiatives, the pneumococcal conjugate vaccine segment is expected to witness significant growth over the forecast period.
North America is Anticipated to Hold a Significant Market Share Over the Forecast Period
The presence of established healthcare infrastructure and key market players are major growth drivers for the North American pneumococcal vaccine market, contributing to its substantial share. Additionally, increasing investments in vaccine development and the growing prevalence of pneumonia within the region are anticipated to stimulate market expansion further.
The significant burden of pneumonia cases in the region is expected to boost the demand for pneumonia vaccines, thus contributing to market growth. For instance, according to the data published by the American Lung Association in December 2023, approximately 150,000 individuals are hospitalized annually in the United States due to pneumococcal pneumonia. This is anticipated to drive an increase in the demand for pneumococcal vaccines within the specified region, thereby contributing to the expansion of the market during the forecast period.
Government initiatives to support the adoption of pneumococcal vaccines are anticipated to contribute to market growth. For instance, the National Advisory Committee on Immunization (NACI) recommended using a 15-valent vaccine such as PCV15 for all population age groups in Canada. Thus, such government support and recommendations for promoting the use of pneumococcal vaccines in the country are likely to boost market growth.
The substantial market share is attributed to the presence of key players and the well-established healthcare infrastructure. For instance, in April 2023, Pfizer received US Food and Drug Administration approval for 20-valent pneumococcal conjugate vaccine Prevnar 20 for infants and children. Similarly, in May 2022, GSK committed USD 3.3 billion to acquire Affinivax, a clinical-stage vaccine developer with a phase III-ready vaccine candidate that addresses more bacterial strains than any pneumococcal vaccine currently available. Thus, an increase in approvals and product launches of pneumococcal vaccines in the region is anticipated to augment the market’s growth over the forecast period.
Thus, owing to the increase in pneumonia cases, increasing strategic activities, and government approvals, the market in the region is projected to grow over the forecast period.
