Pneumococcal vaccines are crucial preventive measures against pneumococcal diseases caused by Streptococcus pneumoniae bacteria. The pneumococcus bacteria colonizes harmlessly in human's nose and throat but can cause invasive pneumococcal disease (IPD) such as pneumonia, bacteremia, and meningitis. It is a leading cause of morbidity and mortality, especially in children less than 5 years and older adults. Common pneumococcal vaccines available include PCV13 and PPSV23. PCV13 protects against 13 types of pneumococcus while PPSV23 protects against an additional 11 types. They help build immunity against invasive pneumococcal disease by stimulating the immune system to produce antibodies against pneumococcal strains.

The global pneumococcal vaccines market is estimated to be valued at US$ 7.3 billion in 2024 and is expected to exhibit a CAGR of 10.5% over the forecast period 2024-2030.

Key Takeaways

Key players
Key players operating in the pneumococcal vaccines market are Pfizer, Merck & Co., and GlaxoSmithKline. Pfizer dominates the market with its PCV13 vaccine Prevnar 13. Merck & Co. offers Pneumovax 23, which contains 23 types of pneumococcal polysaccharides. GlaxoSmithKline markets Synflorix, a pneumococcal vaccine for infants and toddlers.

Growing demand
The Pneumococcal Vaccines Market Growth is growing significantly due to increasing awareness about pneumococcal disease prevention and rising immunization coverage for at-risk groups like children and adults. Various countries have added pneumococcal vaccines to their national immunization programs to prevent morbidity and mortality from pneumococcal infections.

Global expansion
Major manufacturers are expanding their presence in developing markets like Asia Pacific, Latin America, and Middle East & Africa through collaborations with local pharma players and governments. For example, Pfizer partnered with Bio Farma to supply its PCV13 vaccine in Indonesia to boost immunization rates.

Market key trends
One of the key trends in the pneumococcal vaccines market is the development of higher-valent conjugate vaccines with coverage for additional pneumococcal serotypes. Manufacturers are focusing on expanding the serotype coverage of existing vaccines through continued research and clinical trials. For example, Pfizer's 20-valent pneumococcal conjugate vaccine candidate aims to protect against 20 types of pneumococcus. This would help reduce the burden of serotype replacement disease.

Porter’s Analysis

Threat of new entrants: The pneumococcal vaccines market requires significant investments and regulations which create high entry barriers for new companies.

Bargaining power of buyers: The bargaining power of buyers is moderate as there are limited product options available and switching costs are high in this market.

Bargaining power of suppliers: A few large pharmaceutical companies dominate the supply of pneumococcal vaccines which gives them strong bargaining power over buyers.

Threat of new substitutes: There are no close substitutes for pneumococcal vaccines currently, however research into new alternatives continues reducing threats from substitutes.

Competitive rivalry: Major players like Pfizer and Merck compete aggressively on pricing and new product innovations to gain market share in this oligopolistic market.

Geographical Regions

North America currently accounts for the largest share of the global pneumococcal vaccines market valued at over USD 2 billion, due to high disease awareness, reimbursement policies and accessibility of new products in the region.

Asia Pacific is expected to grow at the fastest pace during the forecast period. Rising healthcare expenditures, expanding vaccine coverage and increasing focus on preventive healthcare are some key factors driving high demand for pneumococcal vaccines in several Asian countries.

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Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

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