Pneumonia Vaccines Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025
Report ID: GMI2852
Pneumonia vaccines market size is projected to experience significant growth from 2018 to 2024.
Growing geriatric population base across the globe along with rising prevalence of pneumococcal disease will act as major growth rendering factors for pneumonia vaccines market growth. Globally, the number of persons aged 60 years and above is projected to witness twofold increase between 2017 and 2050, rising from 962 million to 2.1 billion. Age increases the risk of developing pneumococcal disease owing to weakened immune system. This leads to elderly patients aged 65 years and above more susceptible to invasive pneumococcal disease (IPD) thereby, fueling demand for pneumonia vaccines.
Increasing prevalence of chronic diseases such as chronic obstructive pulmonary disease (COPD), diabetes mellitus and chronic heart disease will drive pneumonia vaccines market growth over the forecast period. Patients suffering from such chronic conditions are at high risk for pneumococcal disease as these diseases reduce clearance of bacteria thereby increasing the risk of infections, augmenting industry growth.
Favorable government initiatives and strong financial support for increasing awareness and stimulating adoption of pneumonia vaccines will augment industry growth. For instance, Global Alliance of Vaccines and Immunization (GAVI), works in collaboration with leading industry players such as Pfizer and GSK to increase access to vaccines for patients in developing countries. Also, the Pneumococcal Advance Market Commitment (AMC) launched in 2009 involves donors committed to provide USD 1.5 billion for increasing access to vaccines for pneumonia in the developing countries.
However, high cost of pneumonia vaccines resulting in unaffordability for patients in the developing countries would impede market growth.
Based on product, the market is segmented into pneumonia conjugate vaccines (PCVs) and pneumonia polysaccharide vaccines (PPSV). 13-valent pneumonia conjugate vaccines (PCV) segment held a momentous share as of 2017. Advantages offered by Prevnar 13 or PCV13 such as it enables to protect children and adults from 13 types of pneumococcal bacteria fueling its demand over the coming years. Strong focus of leading market players on research and development for developing novel conjugate vaccines will further foster segmental share. For instance, S. pneumoniae next generation recombinant conjugate vaccine by Glaxo Smith Kline for pneumonia disease is in Phase II. Such factors boost segmental revenue growth.
U.S. pneumonia vaccines market is slated to witness lucrative growth owing to increasing incidence of invasive pneumococcal diseases (IPD) leading to disease burden in the country. Around 28,000 cases and 2,900 deaths occurred due to IPD in the U.S. in 2014. Strong government support along with presence of routine vaccine immunization programs in the country will further favor regional growth.
India pneumonia vaccines market is poised to witness robust growth over the forecast period. Rising prevalence of pneumonia and increasing mortality associated with the disease will fuel demand for pneumonia vaccines over the coming years. For instance, around 175,000 children died due to pneumonia in 2013 in the country. Additionally, India contributes to 20% of all pneumonia deaths worldwide. Moreover, strong funding from Global Alliance of Vaccines and Immunization (GAVI) to government for increasing access to pneumonia vaccines and raising affordability will augment regional revenue growth.
Some of the key industry players operating in the global pneumonia vaccines market include Pfizer, Glaxo Smith Kline (GSK) and Merck. The market players focus on research and development activities to develop novel vaccines for life-threatening disease. Strong product pipeline enables the dominant players to expand their product portfolio and enhance market share.
Pneumonia Vaccines Market By Product, 2013-2024 (USD Million)
- Pneumonia conjugate vaccines (PCV)
- Pneumonia polysaccharide vaccines (PPSV)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability
Why Global Market Insights, Inc.?
- GMI is unparalleled when to comes to the quality of research and information provided to clients. Our unique methodology is designed to ensure a minimum of 90% accuracy to give our clients excellent value on their investment.
Over 200 experts are available across various time-zones, ready to serve clients for their research needs. Our industry experts help clients to design reports customized to their needs.
An interactive business analytics platform; designed to assist clients in accessing and analyzing market data on real-time basis.Start Your Free Trial