Future Market Insights (FMI) delivers the key insights on the global pneumococcal vaccines market in its upcoming report titled “Pneumococcal Vaccines Market: Global Industry Analysis occurred in 2013–2017. But the Opportunity Assessment 2018 – 2028,” is for the next nine years. In terms of revenue, the global pneumococcal vaccines market is projected to register a CAGR of 9.1 percent over the forecast period.
North America is expected to contribute a high revenue share in the global pneumococcal vaccines market over the forecast period.
This phenomena is due to increasing healthcare expenditure, favorable reimbursement policies for pneumococcal vaccination and development of new multivalent pneumococcal vaccines. Besides, the out-of-pocket costs of pneumococcal vaccines for patients with Medicare coverage is $0 in North America.
The global pneumococcal vaccines market is segmented based on product type, distribution channel, and regions.
Based on the product type the market is segmented into pneumococcal conjugate vaccines and pneumococcal polysaccharide vaccines. The pneumococcal conjugate vaccines product type segment is expected to represent high revenue share in the global pneumococcal vaccines market Growing number of research and development activities to develop new conjugate vaccines for expanding indications.
This all based on the distribution channel, the market is segmented into pharmacies, public health agencies, community clinics and other distribution channels. Among all the distribution channels, the public health agencies segment is expected to be the leading segment in the pneumococcal vaccines market. The revenue share of community clinics is expected to increase over the forecast period due to the growing number of community clinics.
To know key findings sample report.
More clinical trials for development.
Increasing number of the clinical trials for development of the pneumococcal vaccine is expected to provide enormous opportunities for the growth of the pneumococcal vaccines market and fulfill the demand for vaccines for multiple serotypes. A serotype very recognizable, distinct variation within a species of bacteria or virus. It can also be distinct among immune cells of different individuals. These cells are classified together based on their cell surface antigens. This allows them to be classified.
Increasing government initiatives to reduce the burden of pneumococcal diseases and public.
Even private partnerships are factors expected to fuel the growth of the pneumococcal vaccines market. Partnerships and collaborations among manufacturers for research and development and vaccine distribution is expected to boost the growth of the pneumococcal vaccines market. Increasing pharmacy-based immunization services for pneumococcal vaccination and the catch up campaigns by the SAGE organization to reduce the prevalence of invasive pneumococcal disease are the major factors expected to impel the growth of the pneumococcal vaccines market.
Increasing demand for pneumococcal vaccines due to immunization programs is expected to provide immense opportunities for the growth of the pneumococcal vaccines market.
The manufacturers of pneumococcal vaccine have reduced the pricing of the vaccines for Gavi-supported countries, which is expected to boost the demand for pneumococcal vaccines. For instance, in January 2018, Pfizer reduced the price of its PCV-13 4 dose vial vaccine for Gavi-supported countries from US$ 3.05 to US$ 2.95 per dose. Increasing addition of pneumococcal vaccine in national immunization programs is favoring the growth of pneumococcal vaccines market. According to the WHO till 2017, total 138 countries are introduced with pneumococcal vaccines in their national immunization program.
However, low awareness among general population regarding pneumococcal immunization, difference in coverage of established and new vaccine, slower introduction of new pneumococcal vaccines are factors expected to hamper the growth of the pneumococcal vaccines market.
Request for report customization.
The market for pneumococcal vaccines is consolidated with very few players. Examples of some of the key players identified in the global pneumococcal vaccines market are Pfizer Inc., Sanofi S.A., GlaxoSmithKline Plc., and Merck & Co., Inc., among others. Manufacturers are focusing on the partnerships and collaborations for expansion of their geographical presence and development of new pneumococcal vaccines. For example, in 2014 Sanofi SA completed the collaboration with SK Chemical Co. of South Korea to co-develop pneumococcal conjugate vaccines.