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 its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the increasing number of government initiatives.
Also, the increase in the introduction of pneumonia vaccines and rising government spending and health-awareness efforts to successfully treat disorder has further influenced the market growth.
Additionally, the development in technology, rise in healthcare expenditure, growth in population and special designation from the regulatory authority has positively affected the pneumonia vaccine market over the forecast period.
On the flip side, the longer timelines that is required for the production of pneumonia vaccines and higher costs that is associated with development of the vaccines are projected to hinder the market growth 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.
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