Albany, NY -- (SBWire) -- 11/20/2018 --With the increasing prevalence of pneumococcal diseases, government organizations across various countries are introducing programs to promote the use of pneumococcal vaccines. For instance, UNICEF along with the WHO has launched the Global Action Plan for Pneumonia and Diarrhea (GAPPD) to control incidence and mortality rate in children suffering from severe diarrhea and pneumonia by 2025. The investment in developing countries has also increased to help in the development and delivery of vaccines. For example, GAVI is a vaccine alliance that brings together public and private sector to offer immunization to the children in world's poorest countries.
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The high cost of advanced vaccines is one of the factors hampering the growth of the market. However, manufacturers are competing for development of cost-effective and high quality of vaccines by focusing on research and development activities.
According to the report by Transparency Market Research (TMR), the global market for pneumococcal vaccines is likely to witness robust growth, registering 8.3% CAGR between 2017 and 2026. The global market for pneumococcal vaccines is also projected to bring in US$ 20,515.5 million revenue by 2026 end.
13- Valent PCV to be the Top-Selling Product in the Global Market for Pneumococcal Vaccines
Compared to the various products, 13- valent PCV is likely to emerge as one of the top-selling product in the global market for pneumococcal vaccines. By 2026 end, 13- valent PCV is projected to bring in close to US$ 9,500 million revenue. PVC13 has offered a significant benefit in reducing carriage of Antibiotic-Nonsusceptible Streptococcus Pneumoniae (ANSP). Moreover, 13- Valent PCV includes thirteen serotypes of pneumococcus, also, serotypes 19A and 6A are present only in PCV13. The Centers for Disease Control and Prevention (CDC) has also recommended PCV13 for adults above the 65 years of age.
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Hospitals to Emerge as the Largest Distribution Channel
Pneumococcal vaccines are likely to be distributed by Hospitals on a large scale between 2017 and 2026. Hospitals are projected to surpass US$ 12,400 million revenue towards the end of 2026. Increasing number of patients are being hospitalized for various infections and diseases, hence hospitals are emerging as the biggest distribution channel for pneumococcal vaccines, thereby reducing mortality associated with the pneumococcal infection.
North America to be the Largest Region in the Global Market for Pneumococcal Vaccines
North America is likely to emerge as one of the biggest regions in the global market for pneumococcal vaccines during 2017-2026. Pneumococcal Conjugated Vaccine (PCV) is the part of routine vaccine immunization in Canada and the U.S., since 2000. The countries have also witnessed highly-effective results since the vaccine was introduced. Investments by the government organization and private companies have also increased for promoting vaccination and towards the research and development of new vaccines. North America has also emerged as a main center for many vaccine producing companies.
Meanwhile, PCV is also the part of the vaccination program in countries like the Netherlands, Germany, Slovakia, Albania, Greece and Serbia. Increasing incidence of pneumococcal disease in various countries in APEJ also presents an opportunity for companies producing pneumococcal vaccines. Brazil is also witnessing a significant increase in pneumococcal diseases. Hence, various programs are being introduced in Brazil to increase the vaccine coverage.
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Competition Tracking
The report provides a detailed analysis of the leading companies operating in the global market for pneumococcal vaccines such as Merck & Co. Inc., Pfizer, Inc., Sanofi, and GlaxoSmithKline PLC. The companies are focusing on the research and development of new pneumococcal vaccines. There has also been an increase in partnership between the leading companies and distributors in order to expand in the global market.
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Pneumococcal Vaccines Market to Witness Strong Growth by 2026