The report titled “Pneumococcal Vaccine Market: Global Demand Analysis & Opportunity Outlook 2027”delivers detailed overview of the global pneumococcal vaccine market in terms of market segmentation by vaccine type, sector type, product type, distribution channel type and region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
With global increase in the pneumococcal disease cases and increasing awareness among the people about the disease, the global pneumococcal vaccine market is anticipated to record a CAGR of 6.22% during the forecast period i.e. 2019-2027. The vaccines are predominantly used for children and old people or for people who are suffering from chronic disease and are available in different conjugations, depending upon the infections and the age groups to be treated. The rise in child birth rate and geriatric population are expected to positively impact the growth of the market over the forecast period.
The market is segmented into vaccine type, sector type, product type and distribution channel type. Geographically, the global pneumococcal vaccine market is segmented into five regions that include North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. The market in North America is anticipated to witness significant market growth, owing to presence of key market players and high awareness about the vaccines in the region. The market in Europe is anticipated to hold the leading market share, on the back of high adoption of vaccines and proper implementation of regular immunization program. The market in Asia-Pacific region is expected to record a CAGR of around 7% over the forecast period, owing to increased private sector investment in healthcare sector and increased awareness in the region. The market in Middle East and Africa region is anticipated to record an increase in the market share, on account of increasing awareness and rise in government and non-governmental initiatives.
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Rise in Financial Funding and Expansion Projects to Boost the Pneumococcal Vaccine Market Growth
The rise in financial funding and programs such as GAVI has contributed in Advanced Market Commitment to provide pneumococcal vaccines to 60 countries as a regular immunization program and for ongoing trials for developing advanced medication by key players such as Merck & Co. and Pfizer Inc. which are expected to drive the growth of the market over the forecast period (2019-2027).
Growing Awareness and Rise in Government Initiatives – The growing awareness about the disease and vaccination, coupled with government initiatives and investments in the healthcare sector is expected to increase the growth of the market over the forecast period. GAVI and USAID have been funding the companies that provide vaccines and healthcare facilities to make them available for low income economies.
Industry Players are Progressing towards Minimizing the Barriers faced by the Global Pneumococcal Vaccine Market
The high cost associated with the development of these vaccines, coupled with longer production timelines and vaccine limitations such as in cases where they can only provide prevention from disease caused by streptococcus pneumoniae bacterium, while it is ineffective in case of pneumonia caused by other bacteria is mainly expected to hinder the growth of the market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global pneumococcal vaccine market which includes company profiling of Glaxosmithkline PLC, Merck & Co., Pfizer Inc, Panacea Biotec Limited, Pnuvax Incorporated, Serum Institute of India Pvt. Ltd, Shenzhen Kangtai Biological Products Co., Ltd., Walvax Biotechnology and Lanzhou Institute of Biological Products Co., Ltd
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global pneumococcal vaccine market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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