(I-BusinessNews.Com, June 11, 2021 ) Pneumococcal Vaccines Adoption Market size is estimated at $8.2 billion in 2020, projected to grow at a CAGR of 6.8% during the forecast period 2021-2026. Pneumococcal disease is the infection caused by pneumococcal bacteria (primarily Streptococcus pneumonia). The types of Pneumococcal Vaccines are Pneumococcal Conjugate Vaccines (PCV) and Pneumococcal Polysaccharide Vaccines (PPSV). The growth of the Pneumococcal Vaccines Adoption Industry owes towards the increasing prevalence of pneumococcal contaminations. Pneumococcal polysaccharide vaccine, also known as Pneumovax 23, was the first pneumococcal vaccine made from a capsular polysaccharide and is a major medical achievement. Pneumococcal survival is improved when pentafluorobenzoic acid (PFBA) inhibits neutrophil phagocytosis. These bacteria are capable of causing a number of illnesses, including pneumonia, which is a lung infection. Pneumonia is an acute respiratory illness that affects the lungs and causes the alveoli to fill with pus and fluid, making breathing difficult and limiting oxygen intake. The increasing prevalence of pneumonia in different countries around the world, strengthened healthcare facilities, and increased government emphasis on pneumonia immunization programs has resulted in an increase in demand for Pneumococcal Polysaccharide Vaccine. According to the World Health Organization (WHO), pneumonia caused 16% of all deaths in children under the age of five in 2015, accounting for 920,136 deaths worldwide driving the Pneumococcal Vaccines Adoption industry growth.
Pneumococcal Vaccines Adoption Market Segment Analysis - By Type
Based on Type, Pneumococcal Vaccines Adoption Market is segmented into Pneumococcal Conjugate Vaccines (PCV) and Pneumococcal Polysaccharide Vaccines (PPSV). Pneumococcal Conjugate Vaccines (PCV) accounted for the largest revenue market share in 2020 owing to the wide range reach to the public. These vaccines can prevent pneumonia and acute otitis media in infants and children aged 6 weeks to 5 years. In addition, the conjugate vaccine increases immunological memory and decreases asymptomatic bacteria delivery, resulting in substantial community immunity driving the Pneumococcal Vaccines Adoption Industry. For instance, in 2020, The Drug Controller General of India has provided the green light to Serum Institute of India, Pvt. Ltd.'s pneumococcal conjugate vaccine (PCV), PNEUMOSIL, for marketing authorization. This approval allows the vaccine to be marketed in India, and it is a major move forward in the fight against pneumonia and other pneumococcal diseases. Pneumococcal Polysaccharide Vaccines (PPSV) segment is anticipated to grow with the fastest CAGR of 6.9% in the forecast period 2021-2026 owing to the rising geriatric population across the globe. Pneumococcal polysaccharide vaccine (PPSV23) protects against pneumococcal disease, which is any infection caused by pneumococcal bacteria. These bacteria are capable of causing a number of illnesses, including pneumonia, which is a lung infection drives the Pneumococcal Vaccines Adoption industry growth.
Pneumococcal Vaccines Adoption Market Segment Analysis – By Product Type
Based on Product Type, Pneumococcal Vaccines Adoption Market is segmented into Prevnar 13, Synflorix and Pneumovax 23. Prevnar 13 accounted for the largest revenue market share in 2020. Growing demand for the pneumonia vaccine in various countries, WHO acceptance and guidelines for its efficacy in preventing pneumonia, and increased use for pneumonia treatment among the geriatric population have all accelerated market growth in this segment. The vaccine protects against 13 different forms of pneumococcal bacteria, which are the most common cause of serious infections in children and adults. Pneumovax 23 segment is anticipated to grow with the fastest CAGR of 7.1% during the forecast period 2021-2026 owing towards the high demand for medicines and the rising population. Pneumovax 23 is a rapid-acting vaccine that protects against the most common forms of pneumococcal bacteria in people who are at high risk of infection. It is also recommended as a routine vaccination for people aged 50 and up thus enhancing the Pneumococcal Vaccines Adoption Market.
Pneumococcal Vaccines Adoption Market Segment Analysis - By Geography
Based on Geography, North America Pneumococcal Vaccines Adoption Market accounted for the 42% revenue share in 2020 is attributed towards the increasing number of people infected with pneumococcal bacteria, as well as the presence of potential players developing novel therapies including Pneumococcal Polysaccharide Vaccine, has resulted in a gradual increase in the treatment market in this area. The aging population, as well as the government's and major market players' rising healthcare investments driving the Pneumococcal Vaccines Adoption Industry. According to the National Center for Immunization and Respiratory Diseases, more than 250,000 people are hospitalized in the United States each year due to pneumonia and with nearly 50,000 people dying from the disease. Another significant factor driving market growth is the increased awareness initiatives and development of novel vaccines. For instance, the U.S. has called for a Healthier People 2020 plan to expand pneumococcal vaccine coverage in high-risk adults to 60% driving the regional growth. Asia-Pacific is predicted to be the fastest growing region during the forecast period 2021- 2026 owing towards the government initiatives and an increase in the number of research partnerships. The World Health Organization (WHO) reports that clinical pneumonia causes 0.37 episodes per child per year, with India responsible for 36% of all cases. The region of Southeast Asia bears the brunt of the burden. Around 10-20% of these episodes are serious. In addition, in 2017, the Indian government, in partnership with GAVI, introduced low-cost Pneumococcal Conjugate Vaccine (PCV) vaccines in three states across the world. Furthermore, 60 percent of all GAVI-procured vaccines will be manufactured in India under this agreement. There is also a rapid influx of key industry players into this area, as well as the launch of new Pneumonia Polysaccharide Vaccine market products in the Asia-Pacific region.
Pneumococcal infection is one of the leading causes of morbidity worldwide, according to the World Health Organization (WHO). Furthermore, developed countries are rapidly investing in vaccine production, resulting in a rise in the global demand for pneumococcal vaccines. Several government campaigns, such as pneumonia immunization programs, have aided the expansion of the pneumococcal vaccine adoption market. The recommendations for preventing ventilator-associated pneumonia in acute care hospitals were established by the Society of Healthcare Epidemiology of America and the Infectious Diseases Society of America. Furthermore, numerous organisations from around the world are investing in pneumonia prevention. Increasing usage of Pneumococcal Polysaccharide Vaccine will further drive the market growth. Furthermore, WHO initiatives such as the Global Action Plan for Pneumonia and Diarrhoea, which aims to reduce pneumonia-related mortality, have fuelled the market's growth. Furthermore, major strides in the production of new pneumococcal vaccines have accelerated the industry's growth.
The Creation Of Protein Vaccines Pave The Way For New Possibilities:
The production of protein vaccines for pneumococcal diseases has provided the global pneumococcal vaccines adoption industry with new growth opportunities. In comparison to traditional whole-cell vaccines, these vaccines evoke a wider immune response. Furthermore, they strengthen cellular and humoral immunity. They're also moderately priced and relatively simple to make. As a consequence, people with a modest income can conveniently receive these vaccines. Such advances have stimulated the growth of the pneumococcal vaccine adoption market.
Pneumococcal Vaccines Adoption Market Challenges
Stringent Regulation Along With Lack Of Storage Facilities:
Strict regulatory requirements and a shortage of standardization resources in some developed and developing countries are two major factors that are expected to stifle the target market's growth. Additionally, increasing research and development costs, as well as higher costs associated with vaccine manufacturing and low knowledge among the elderly, all hinder Pneumococcal Vaccines Adoption industry. Lack of sufficient cold storage facilities, vulnerability to leaching and transportation is hindering the market’s growth. For instance, when demand is high, longer time for production causes service delay which restraint the demand growth.
Pneumococcal Vaccines Adoption Market Landscape
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Pneumococcal Vaccines Adoption Market. Pneumococcal Vaccines Adoption Market top 10 companies are SK bioscience, Walvax Biotechnology Co., Ltd, Glaxosmithkline Plc, Sanofi Pasteur, China National Biotec Group, Astellas Pharma Inc., Merck & Co., Inc., Pfizer Inc., Serum Institute of India Ltd and Beijing Minhai Biotechnology Co., Ltd.
In December 2020, Pfizer Inc. announced that the US Food and Drug Administration (FDA) has approved a Biologics License Application (BLA) for its 20-valent pneumococcal conjugate vaccine (20vPnC) candidate for the prevention of invasive disease and pneumonia triggered by Streptococcus pneumoniae serotypes in the vaccine in adults aged 18 and older for priority examination.
In June 2020, Merck & Co., Inc. acquired Themis is a privately owned company that focuses on infectious disease vaccines and immunomodulation therapies. The purchase was made to promote the production of medicines and vaccines for many of the world's most complex diseases, as part of our effort to save and improve lives.
The easier access to healthcare facilities and the availability of low-cost pneumonia vaccines have attracted a significant number of buyers, resulting in Pneumococcal Vaccines Adoption Market’s growth.
Geographically, North America Pneumococcal Vaccines Adoption Market held the largest revenue share of 42% in 2020 owing to the growing number of pneumococcal infections, the involvement of potential players who are developing innovative therapies, and more government schemes and investments in healthcare. In the final report, the scope of the Pneumococcal Polysaccharide Vaccine Market for various regions will be given.
The increased prevalence rate of pneumonia is driving the development are likely to contribute to the growth of the Pneumococcal Vaccines Adoption industry.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market is provided in the Pneumococcal Vaccines Adoption Market.
For more Lifesciences and Healthcare Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including: