Pneumonia vaccines Market to Witness Significant Growth During Forecast Period
According to a new report published by KD
Market Insights, titled, "Global Pneumonia
Vaccine Market [vs1] by
Vaccine, Product, Sector, and Distribution Channel: Opportunity Analysis and
Industry Forecast, 2018 - 2025," the global pneumonia vaccine market
is expected to reach $10,215 million by 2025, registering a CAGR of 5% from
2018 to 2025, in terms of value.
Pneumonia is a lung infection that occurs in
one or both the lungs caused by bacteria, virus, or fungi; however, bacterial
pneumonia is the most common form occurring in adults.
Pneumonia results in inflammation in the air
sacs (known as alveoli) of the lungs, which results in filling the alveoli with
fluid (pus cells), thus causing breathing problems. Pneumococcal disease is
common in young children, but older adults are at greatest risk of serious
pneumococcal infections and even death.
Pneumonia vaccines are primarily administered
to children less than 2-years old and adults aged 65 years and older. This
vaccine helps individuals provide immunization against 13 types of pneumococcal
bacteria that causes infection in the lungs.
The key factors that drive the growth of the
global pneumonia vaccine market include increase in prevalence of pneumonia
across the globe, rise in government focus on immunization programs for
pneumonia, and introduction of novel pneumococcal vaccines such as PCV10.
However, longer timelines required for pneumonia vaccine production and high
costs associated with development of such vaccines restrain the market growth.
Development of protein-based combination pneumococcal vaccines is expected to
offer lucrative opportunities for the expansion of this market during the
forecast period.
Based on type, pneumococcal conjugate vaccine
(PCV) is expected to maintain its dominant (more than half of the market share
in 2017) position during the analysis period as it is been widely prescribed as
compared to pneumococcal polysaccharide vaccine (PPV).
Based on product, the Prevnar 13 segment held
the major market share in 2017 and is expected to dominate the market
throughout the forecast period, owing to the wide usage and its efficiency in
pneumonia prevention.
Based on distribution channel, the
distribution partner companies segment held majority of the market share in
2017, owing to the wide coverage of the private entities. This segment is
expected to dominate the market during the forecast period due to majority of
private vaccines purchases which are comparatively expensive are distributed
from these companies. Hence, the distribution partner companies hold larger
share.
Based on sector, the private sector dominates
the overall market for pneumonia vaccines and is expected to dominate the
market throughout the forecast period due to the higher prices of the vaccine
in the private market.
North America accounted for nearly three-fifth
of the global market in 2017 and is expected to remain dominant throughout the
forecast period. This is attributed to the higher prevalence in the developing
countries such as India and China, increase in government healthcare
expenditure, rise in demand for better healthcare, and surge in number of
childbirths in the region. Moreover, government support and development of
protein-based combination pneumococcal vaccines are the factors expected to
present new growth opportunities to the players in this market
Key Findings of the Pneumonia Vaccine
Market:
- The pneumococcal conjugate vaccine (PCV)
segment is expected to grow with a CAGR of 5.1% from 2017 to 2025.
- Prevnar 13 vaccine is expected to be the fastest growing product with a CAGR of 5.1%.
- The distribution partner companies held approximately half of the global market share and is expected to remain dominant throughout the forecast period.
- The private segment held more than threeforth share in the global market and is expected to remain dominant throughout the forecast period.
- Asia-Pacific is expected to be the fastest growing region, registering a CAGR of 6.6% during the forecast period.
- Prevnar 13 vaccine is expected to be the fastest growing product with a CAGR of 5.1%.
- The distribution partner companies held approximately half of the global market share and is expected to remain dominant throughout the forecast period.
- The private segment held more than threeforth share in the global market and is expected to remain dominant throughout the forecast period.
- Asia-Pacific is expected to be the fastest growing region, registering a CAGR of 6.6% during the forecast period.
The report provides an extensive competitive
analysis and profiles of the key market players such as 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. (Beijing Minhai Biotechnology Corporation
Limited), SK Bioscience, and Walvax Biotechnology Co., Ltd.
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