Pneumonia Vaccine Market Insights by Growth, Emerging Trends and Forecast by 2030

The Global Pneumonia Vaccine Market is valued at USD 10.84 billion in 2022 and is projected to reach a value of USD 19.04 billion in 2030 expanding at a CAGR of 7.3% over the forecast period of 2022-2030.

To avoid infection brought on by the bacteria Streptococcus pneumoniae, pneumococcal vaccination is administered. The pneumococcal conjugate vaccine and the pneumococcal polysaccharide vaccine are the two different forms of pneumococcal vaccinations.

The pneumococcal conjugate vaccine is advised by the Centers for Disease Control and Prevention (CDC) for all children under the age of two, all adults 65 and older, and for people aged 2 to 64 who have certain medical conditions, such as chronic lung disease, including asthma if being treated with prolonged high-dose oral corticosteroid therapy. All individuals 65 years of age and older, those 2-64 years of age with specific medical conditions, and those 19-64 years of age who smoke are advised to receive the pneumococcal polysaccharide vaccination,

All individuals 65 years of age and older, those 2-64 years of age with specific medical conditions, and those 19-64 years of age who smoke are advised to receive the pneumococcal polysaccharide vaccination, according to the CDC.

Pneumonia generally refers to a disease that causes lung contamination in one or both the lungs caused by bacterial organisms, fungi or viruses.

Pneumonia has resulted in irritation around the ‘sacs’ as alveoli of the lungs that causes the alveoli to fill with pus, leading the breathing issues. The rising number of people that are suffering from pneumonia across the globe acts as one of the major factors to drive the growth of pneumonia vaccine market.

The rising demand for specific medication for the treatment of complications that are associated with the disease such as breathing issues, and surge in the financial support to the researchers for developing novel intervention or treatment accelerate the market growth.

Key Market Trends

Every market has unique growth drivers and difficulties. The rising number of government initiatives has been one of the main drivers of market expansion throughout the anticipated timeframe.

Along with increased government funding and health-awareness initiatives, the release of more pneumonia vaccinations has also had an impact on the market's expansion.

Additionally, during the course of the projected period, the pneumonia vaccine market has benefited from advancements in technology, rising healthcare costs, population growth, and special regulatory authority designation.

On the other hand, it is anticipated that the longer development times and higher costs associated with the creation of the vaccines may impede the market's

On the other hand, it is anticipated that the longer development times and higher costs associated with the creation of the vaccines may impede the market's expansion over the forecast period.

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Segmental analysis of the Market

Based on Vaccine Type

• Pneumococcal conjugate vaccine
• Pneumococcal polysaccharide vaccine.

The pneumococcal conjugate vaccine segment has dominated the market growth over the forecast period. This is because of the increasing adoption of pneumococcal conjugate vaccines for routine immunization of kids below 5 years to prevent them from fatal pneumococcal diseases and acute otitis media across the developing economies is projected to spur the sales.

Based on Distribution Channel

• Distribution partner companies
• Non-governmental Organizations
• Government Authorities

The government authorities segment has dominated the market growth over the forecast period. This is because of these organizations purchase massive amount of pneumonia vaccines from the manufacturers to distribute them directly to the destination geographies for the social cause.

North America is anticipated to amplify at a considerable CAGR

The Global Pneumonia Vaccine Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, North America is anticipated to amplify at a considerable CAGR over the forecast period. This is because of the high prevalence of pneumococcal disorders that includes, bacteremic pneumonia, bloodstream infection, and meningitis.

Competitive Landscape

Some of the prominent companies operating in the market are

• Glaxosmithkline plc.
• LG Chem Ltd.
• Merck & Co., Inc.
• Panacea Biotec Limited
• Pfizer Inc.
• Pnuvax Incorporated
• Serum Institute of India Pvt. Ltd.
• Shenzhen Kangtai Biological Products Co., Ltd.
• SK Bioscience
• Walvax Biotechnology Co., Ltd.

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Influence of Coronavirus on the Market for Global Pneumococcal Vaccines (COVID-19) Pandemic

The disease has spread to over 100 nations since the COVID-19 viral epidemic in December 2019, and on January 30, 2020, the World Health Organization proclaimed it to be a public health emergency.

The load on hospitals and medical staff has intensified as the entire world battles this pandemic. According to a report released by the United Nations Children's Fund (UNICEF) on July 15, 2021, approximately 23 million children missed out on receiving basic immunizations through routine immunisation programmes in 2020 — 3.7 million more than in 2019 — based on official data provided by the World Health Organization and UNICEF. According to the most recent set of data, most nations reported a fall in children immunisation rates in 2020. Providing comprehensive global childhood immunisation data, which are the first official figures to take the COVID-19 pandemic-related service disruptions into account.

Frequently Asked Questions:

• What is the growth rate projection for Global Pneumonia Vaccine Market over 2022-2030?
• What are the expansion determinants of Global Pneumonia Vaccine Market?
• What are the primary segments covered in the Global Pneumonia Vaccine Market?
• What are the major regions constituting the geographical landscape of this business vertical?
• Which is the fastest growing region in the Global Pneumonia Vaccine Market?

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