Pneumococcal Vaccine Market Witnesses Steady Growth with a CAGR of 5.3%, Projected to exceed US$ 13.5 billion by 2030

COVINA, Calif., May 17, 2023 /PRNewswire/ -- According to Prophecy Market Insights "Pneumococcal Vaccine Market accounted for US$ US$8.1 billion in 2020 and is estimated to be US$ 13.5 billion by 2030 and is anticipated to register a CAGR of 5.3%"

What is Pneumococcal Vaccine Market?

Meningococcal disease is caused by bacteria called as Neisseria meningitidis and includes infection of spinal cord, brain lining and bloodstream. It usually spreads from nearby infected areas such as the nasal sinuses or from the cerebrospinal fluid.

Growing prevalence of meningitis has given positive impact on target market growth. Increasing immunization initiatives by government and regulatory authorities in prevention of Meningococcal disease is further, expected to fulfill the demand for Pneumococcal Vaccine Market growth.

What is Prophecy's Analyst View on Pneumococcal Vaccine Market?

Growing awareness among individual regarding Meningococcal disease has become a key factor in market growth. Presence of major key players and ongoing research and development activities is further, anticipated to increase the demand for Meningococcal Vaccine market growth over the forecast period.

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Report Scope:

What are the Recent News of Pneumococcal Vaccine Market?

• In March 2023, GSK announced its positive headline result from phase III clinical trial of 5 in 1 "MenABCWY" combination vaccine where vaccine candidate was well tolerated with Menveo and Bexcero safety profile consistent.
• In October 2022, U.S. FDA (Food and Drug Administration) approved "Menveo" (a Meningococcal Oligosaccharide Diphtheria CRM197 Conjugate Vaccine by group A, C, Y, and W-135) for individual of 10 to 55 years old to prevent meningococcal disease.

Who should get vaccinated with a pneumococcal vaccine?

1. Infants and young children: Routine vaccination is recommended for all infants and young children, typically using pneumococcal conjugate vaccines.
2. Adults aged 65 years and older: One dose of pneumococcal polysaccharide vaccine (PPSV23) is generally recommended for adults aged 65 years and older.
3. Adults with certain medical conditions: Individuals with specific chronic diseases, weakened immune systems, or other health conditions that increase the risk of pneumococcal infections may require pneumococcal vaccination.
4. Adults with specific risk factors: Individuals with lifestyle factors (such as smoking or alcohol abuse) or occupational exposures that increase the risk of pneumococcal infections may also be recommended to receive pneumococcal vaccination.

How do pneumococcal vaccines work?

Pneumococcal vaccines work by introducing small pieces of the Streptococcus pneumoniae bacteria into the body. This stimulates the immune system to produce antibodies that can recognize and target the bacteria. These antibodies help prevent infection by blocking the bacteria from attaching to cells and enhance the immune response if the person is exposed to pneumococcus in the future. Pneumococcal vaccines specifically target common strains associated with pneumococcal diseases, providing protection against pneumonia, meningitis, and bloodstream infections caused by Streptococcus pneumoniae.

What are key benefits of the Pneumococcal Vaccine Market?

1. Disease Prevention: Pneumococcal vaccines are highly effective in preventing pneumococcal diseases, including pneumonia, meningitis, and bloodstream infections caused by Streptococcus pneumoniae bacteria. Vaccination helps reduce the incidence and severity of these diseases, potentially saving lives and improving overall public health.
2. Improved Public Health: By reducing the burden of pneumococcal diseases, the vaccine market contributes to improved public health outcomes. Vaccination not only protects individuals who receive the vaccine but also helps prevent the spread of pneumococcal bacteria within communities, thereby safeguarding vulnerable populations, such as infants, the elderly, and those with weakened immune systems.
3. Reduced Healthcare Costs: Pneumococcal diseases can lead to significant healthcare expenditures due to hospitalizations, treatments, and associated complications. By preventing these diseases, the vaccine market helps reduce the economic burden on healthcare systems, insurance providers, and individuals, resulting in cost savings in the long run.
4. Enhanced Quality of Life: Pneumococcal diseases can cause severe illness, long-term disabilities, and even death. By preventing these diseases through vaccination, the market improves the overall quality of life for individuals, families, and communities.
5. Herd Immunity: Wide adoption of pneumococcal vaccination creates herd immunity, which provides indirect protection to unvaccinated individuals by reducing the circulation of pneumococcal bacteria within the population.
6. Research and Development: The Pneumococcal Vaccine Market drives investment in research and development for new and improved vaccines.

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What are the Opportunities in the Pneumococcal Vaccine Market?

1. Increasing global demand for pneumococcal vaccines.
2. Expansion into emerging markets with high disease burden and growing healthcare infrastructure.
3. Collaboration with governments and participation in national immunization programs.
4. Investment in research and development for new and improved vaccines.
5. Development of combination vaccines to protect against multiple diseases.
6. Targeting specific high-risk groups beyond infants and older adults.
7. Exploration of alternative vaccine delivery methods for improved accessibility.
8. Leveraging public-private partnerships to accelerate vaccine availability and affordability.

Key Questions Asked in Report:

1. What is the current market size of the pneumococcal vaccine market?
2. What are the major factors driving the growth of the pneumococcal vaccine market?
3. What are the different types of pneumococcal vaccines available in the market?
4. What is the market share of leading manufacturers in the pneumococcal vaccine market?
5. What are the key trends and developments in the pneumococcal vaccine market?
6. What is the projected growth rate of the pneumococcal vaccine market in the coming years?
7. What are the key challenges and barriers faced by the pneumococcal vaccine market?

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Browse Other Related Research Reports from Prophecy Market Insights:

Foot and Mouth Disease Vaccine Market accounted for US$ 1.96 billion in 2020 and is estimated to be US$ 4.04 billion by 2030 and is anticipated to register a CAGR of 7.50%.

Preventive Vaccine market accounted for US$ 39.45 Billion in 2020 and is estimated to be US$ 69.0 billion by 2030 and is anticipated to register a CAGR of 6.0%.

Pediatric Vaccines Market accounted for US$ 3.06 Billion in 2022 and is estimated to be US$ 6.29 billion by 2030 and is anticipated to register a CAGR of 7.5%.

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