Pneumonia Vaccines Market Size is like to experience substantial progression from 2022 to 2028. A rapid upsurge in the aging population and the prevalence of chronic heart, lung, liver, renal, and lifestyle diseases like diabetes will spur the demand for pneumonia vaccines in the foreseeable future. The high risk of infection among children and the growing requirement for immunization among the pediatric population will boost the market outlook over the forecast period.
According to the World Health Organization, around 14% of children under the age of 5 die due to pneumonia. The increasing pervasiveness of pneumococcal diseases and associated risk factors like alcoholism, cigarette smoking, cochlear implant, etc., will further contribute to the pneumonia vaccines market share in the years ahead.
Decreased immune response owing to certain drugs or diseases coupled with other risk factors among children like indoor air pollution, parental smoking, crowded homes, and belonging to certain regional or ethnic groups will fuel the growth trends in the pneumonia vaccines market. Furthermore, supportive government initiatives and escalated funding towards disease prevention will push the industry forecast in the times to come.
Regarding the product segmentation, pneumonia conjugate vaccines (PCV) may gain significant impetus in the coming years. These vaccines can offer protection from 13 to 20 types of pneumococcal bacteria depending upon the age and administered vaccine variant. Moreover, they help prevent meningitis, blood infections, and ear infections in children as well as adults and are 60-70% effective in preventing invasive disease.
These factors, along with rising R&D investment and favorable government initiatives, will support the segment's progression in the years to come. For instance, in January 2022, Union Health Ministry India announced the launch of the nationwide expansion of PCV under its universal immunization program, which will ensure the free availability of PCV for children across India.
U.S. and India may emerge as prominent regional growth driving regions during the forecast period. The prevailing number of pneumonia cases, increasing disease burden, and associated mortality rate coupled with emerging government expenditure towards disease mitigation will augment the industry share in the U.S. and India.
According to a report by Indian express, nearly 3.7 lakh children in India die because of pneumonia every year.
Some of the eminent players of the pneumonia vaccines market include Glaxo Smith Kline (GSK), Pfizer, and Merck. These players are implementing several growth tactics like novel innovations, partnerships, and alliances to maintain their dominance in the market and upgrade their existing product portfolio.
In January 2022, Pfizer announced the successful co-administration of its next-gen PCV PREVNAR-20 along with a third jab of the Pfizer-BioNTech COVID-19 vaccine. The study found strong immune responses and safety in people aged 65 years or above.
The onset of the COVID-19 pandemic positively influenced the pneumonia vaccines market. Studies found that some of the COVID-positive patients have had pneumonia as one of the symptoms. These findings accelerated the production of pneumonia vaccines as part of a preventive and mitigating measure. As per a study by the Centre for Disease Control and Prevention, pneumonia vaccines were found effective against lung infection because of COVID disease.
In addition, the diversion of government funds towards the healthcare sector and COVID mitigation measures further escalated the industry growth and will continue to do so in the future due to the occurrence of subsequent COVID variants.
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