Pneumococcal Vaccine Market (By Vaccine Type; By Product: Prevnar 13, VAXNEUVANCE, PNEUMOSIL; By End-use: Public Sector, Private Sector) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

The global pneumococcal vaccine market size was estimated at USD 8.09 billion in 2023 and it is expected to surpass around USD 14.83 billion by 2033, poised to grow at a CAGR of 6.25% from 2024 to 2033.

Key Pointers

• North American led the global market with the largest market share of 76% in 2023.
• By Vaccine Type, the pneumococcal conjugate vaccine (PCV) segment held the largest revenue share of 94% in 2023 and is expected to exhibit the fastest growth throughout the forecast period.
• By End-use, the public sector contributed the largest market share in 2023.
• By End-use, the private sector segment is anticipated to grow at the noteworthy CAGR from 2024 to 2033.
• By Product, the Prevnar 13 had the largest market share in 2023.

Pneumococcal Vaccine Market Overview

The pneumococcal vaccine market is witnessing significant growth due to several factors such as the rising prevalence of pneumococcal diseases, increasing awareness about vaccination programs, and government initiatives to promote immunization. Pneumococcal diseases, caused by Streptococcus pneumoniae bacteria, encompass a range of infections including pneumonia, meningitis, and bacteremia. These diseases pose a considerable burden on healthcare systems worldwide, leading to substantial morbidity and mortality.

Pneumococcal Vaccine Market Growth Factors

The growth of the pneumococcal vaccine market is driven by an increasing prevalence of pneumococcal diseases worldwide contributes significantly to the demand for vaccines. As these diseases, including pneumonia, meningitis, and bacteremia, pose significant health risks and economic burdens, there is a growing emphasis on prevention through vaccination programs. Secondly, rising awareness about the importance of immunization, coupled with government initiatives to promote vaccination, drives higher vaccine uptake rates, particularly among vulnerable populations such as infants, young children, and the elderly. Additionally, the introduction of pneumococcal conjugate vaccines (PCVs) has revolutionized disease prevention, offering protection against multiple serotypes of the bacteria. The inclusion of PCVs in national immunization schedules further boosts market growth. Moreover, ongoing research and development efforts aimed at enhancing vaccine efficacy, expanding serotype coverage, and developing novel formulations contribute to market expansion. Overall, these growth factors underscore the increasing importance of pneumococcal vaccination in public health strategies globally.

U.S. Pneumococcal Vaccine Market Size 2024 to 2033

The U.S. pneumococcal vaccine market size was estimated at around USD 4.30 billion in 2023 and it is projected to hit around USD 7.88 billion by 2033, growing at a CAGR of 6.24% from 2024 to 2033.

Forecasts suggest significant growth in the U.S. pneumococcal vaccine market over the coming years. As highlighted by a 2023 report from the National Foundation of Infectious Diseases, pneumococcal meningitis and bloodstream infections, though less prevalent, exhibit higher mortality rates, resulting in over 3,000 deaths annually among U.S. adults and potential lifelong disabilities. This heightened prevalence underscores the urgent need for preventive measures like vaccination, fueling market growth and demand.

In 2023, the North American pneumococcal vaccine market commanded a significant 76% share of the global market. Governmental health agencies and organizations actively endorse vaccination initiatives to combat pneumococcal infections, propelling market demand. Furthermore, the presence of major pharmaceutical players such as Pfizer Inc. and Merck & Co., Inc. intensifies competition in the region as they strive to develop cutting-edge pneumococcal vaccines. Recent developments, such as Merck & Co., Inc.'s submission of a Biologics License Application (BLA) for its investigational 21-valent PCV and Pfizer Inc.'s approval for PREVNAR 20 in December 2023, underscore the competitive landscape and innovation driving the market forward.

Meanwhile, in the Asia Pacific region, the market is buoyed by escalating awareness regarding the crucial role of vaccination in preventing pneumococcal diseases. Several countries in the region are witnessing a surge in pneumococcal infections, leading to increased vaccine demand. Manufacturers are strategically expanding their footprint in Asia Pacific, capitalizing on this burgeoning industry opportunity. The establishment of local production facilities aims to meet the rising demand for vaccines and reduce reliance on imports.

Pneumococcal Vaccine Market Trends:

• Increasing prevalence of pneumococcal diseases globally, driving demand for vaccines.
• Growing emphasis on immunization awareness and government initiatives to promote vaccination programs.
• Expansion of vaccination coverage to include vulnerable populations such as infants, young children, and the elderly.
• Introduction and widespread adoption of pneumococcal conjugate vaccines (PCVs) for comprehensive disease prevention.
• Research and development efforts focused on improving vaccine efficacy, expanding serotype coverage, and developing novel formulations.
• Collaboration between pharmaceutical companies, government agencies, and non-profit organizations to advance vaccine development and distribution efforts.
• Challenges such as vaccine hesitancy, limited access to healthcare services in some regions, and strain replacement phenomenon influencing market dynamics.
• Increasing importance of pneumococcal vaccination in public health strategies globally to reduce disease burden and associated healthcare costs.

Vaccine Type Insights

The pneumococcal conjugate vaccine (PCV) segment dominated the market in 2023, accounting for 94% of global revenue and is expected to exhibit the fastest growth throughout the forecast period. PCVs play a crucial role in safeguarding against pneumococcal disease, a leading cause of mortality among children under 5 years old. These vaccines are engineered to provide protection against the most prevalent serotypes of Streptococcus pneumoniae, the bacterium responsible for pneumonia, meningitis, and various other severe infections. Recent updates from the Advisory Committee on Immunization Practices (ACIP) in the U.S., as highlighted in a CDC article from December 2023, recommend the use of 15-Valent and 20-Valent PCVs for adults. Increasing vaccination rates are imperative in preventing pneumococcal disease, necessitating efforts to address knowledge gaps and barriers to adhering to vaccination guidelines. Resources such as the PneumoRecs VaxAdvisor app, alongside other CDC tools, offer personalized vaccination recommendations to patients, bolstering confidence in vaccines.

On the other hand, the pneumococcal polysaccharide vaccine (PPV) segment is expected to witness steady growth at a compound annual growth rate (CAGR) over the forecast period. PPVs are formulated from the capsular polysaccharide of Streptococcus pneumoniae, the bacterium responsible for pneumonia and related infections. These vaccines stimulate the production of specific antibodies that facilitate the destruction of bacteria through opsonization or phagocytosis, rendering them highly effective against such infections. Notably, Pneumovax 23 (PPSV23) falls within the category of PPVs, comprising purified preparations of pneumococcal capsular polysaccharide and containing polysaccharide antigens from 23 types of pneumococcal bacteria.

End-use Insights

In 2023, the public sector emerged as the frontrunner in the market, commanding the highest revenue share. This dominance stems from various factors contributing to the widespread utilization of pneumococcal vaccines within public healthcare settings, encompassing hospitals, clinics, and healthcare facilities. Chief among these factors are the substantial disease burden, governmental initiatives aimed at expanding vaccination coverage, and the cost-effectiveness inherent in public sector vaccination programs when compared to their private sector counterparts. The escalating prevalence of pneumococcal diseases such as pneumonia, sepsis, and meningitis serves as a primary driver behind this trend.

Conversely, the private sector segment is poised for significant growth during the forecast period. Private healthcare providers typically offer a heightened standard of care, characterized by personalized attention and access to advanced diagnostic capabilities. As highlighted in a January 2020 NCBI article, this emphasis on quality care often translates to improved patient outcomes, rendering the private sector an attractive choice for vaccination services. Moreover, private healthcare facilities are frequently more conveniently situated and boast flexible scheduling options, catering to individuals with hectic lifestyles or those who prefer a familiar healthcare environment. Additionally, the private sector exhibits agility in adopting novel vaccines and treatments, including those for pneumococcal diseases. This adaptability arises from the greater autonomy enjoyed by private healthcare providers in selecting the vaccines they offer, positioning them as early adopters of innovative vaccination solutions.

Product Insights

In 2023, Prevnar 13 emerged as the market leader, boasting the highest revenue share. The Prevnar brand encompasses two key vaccines: Prevnar 13 and Prevnar 20, both of which are pneumococcal conjugate vaccines (PCVs) formulated to combat pneumococcal disease. Prevnar 13, a 13-valent PCV, is indicated for active immunization in children aged 6 weeks through 5 years and adults aged 18 years and older against invasive diseases caused by specific Streptococcus pneumoniae serotypes. It also provides protection against otitis media in children within the same age range caused by these serotypes. Approved by the U.S. FDA on August 22, 2017, Prevnar 13's approval history includes updates to its package insert and clinical trial results assessing its use in conjunction with other vaccines. Pfizer Inc. markets the vaccine, which is manufactured by Wyeth Pharmaceuticals Inc., with its patent set to expire in 2026.

The PNEUMOSIL segment is poised for significant growth throughout the forecast period. As outlined in a February 2021 NCBI article, PNEUMOSIL has garnered regulatory approvals and endorsements since December 2018, including Indian Export Notice of Compliance, WHO preapproval, an advance market commitment supply agreement, and Indian Marketing Authorization. Positioned as an option for low- and middle-income countries, PNEUMOSIL aims to address the specific needs of regions such as Africa, Asia, Latin America, and the Caribbean (LAC) by targeting serotypes most likely to cause Invasive Pneumococcal Disease (IPD). This strategic approach endeavors to provide an affordable and efficacious vaccine tailored to the prevalent serotypes in these high-burden areas.

Pneumococcal Vaccine Market Key Companies

• Serum Institute of India Pvt. Ltd.
• CSL
• Sanofi
• GSK plc
• Merck & Co., Inc.
• Pfizer Inc.
• Walvax Biotechnology Co., Ltd
• Beijing Minhai Biotechnology Co.,Ltd (Subsidiary of Shenzhen Kangtai Biological Products Co. Ltd.)

Recent Developments:

• In January 2024, Pfizer Inc. obtained marketing authorization from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) for its 20-valent pneumococcal conjugate vaccine candidate (20vPnC).
• In October 2023, Vaxcyte, Inc. entered into a collaboration with Lonza for a new commercial manufacturing agreement. Through this partnership, Vaxcyte aims to enhance its commercial manufacturing capacity for its pneumococcal conjugate vaccine (PCV) candidates.
• In April 2023, Pfizer Inc. received approval from the FDA for Prevnar 20 to prevent Invasive Pneumococcal Disease (IPD) in infants.

Pneumococcal Vaccine Market Segmentations:

By Vaccine Type

• Pneumococcal Conjugate Vaccine
• Pneumococcal Polysaccharide Vaccine

By Product

• Prevnar 13
• Synflorix
• Pneumovax 23
• VAXNEUVANCE
• PNEUMOSIL
• Other Products

By End-use

• Public Sector
• Private Sector

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)