Pneumococcal Vaccines Market By Product Type (Pneumococcal Polysaccharide Vaccines and Pneumococcal Conjugate Vaccines), By Distribution Channel (Pharmacies, Community Clinics, and Others), Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

Report Overview

The Global Pneumococcal Vaccines Market size is expected to be worth around US$ 15.8 Billion by 2034, from US$ 8.6 Billion in 2024, growing at a CAGR of 6.3% during the forecast period from 2025 to 2034.

Growing awareness of the severe health risks posed by pneumococcal infections is driving the expansion of the pneumococcal vaccines market. Pneumococcal vaccines play a critical role in preventing invasive pneumococcal diseases (IPD), including pneumonia, meningitis, and sepsis, which can lead to high morbidity and mortality, particularly in vulnerable populations such as infants, the elderly, and immunocompromised individuals.

The rising incidence of respiratory infections and the increasing focus on public health have created significant opportunities for the market. In April 2023, Pfizer Inc. received FDA approval for Prevnar 20, designed to prevent IPD in infants, expanding vaccine options for early childhood protection. In October 2023, Vaxcyte, Inc. entered into a commercial manufacturing agreement with Lonza to increase production capacity for its pneumococcal conjugate vaccine (PCV) candidates, highlighting the growing investment in pneumococcal vaccine development.

Recent trends show an increasing shift towards next-generation pneumococcal vaccines that offer broader serotype coverage, enhancing protection against a wider range of pneumococcal strains. Additionally, the emergence of new vaccination strategies, including combination vaccines, presents growth opportunities by addressing multiple diseases with a single shot. The continued push for universal vaccination programs and the increasing availability of vaccines to under-served populations are expected to fuel market growth in the coming years.

Key Takeaways

• In 2023, the market for pneumococcal vaccines generated a revenue of US$ 8.6 billion, with a CAGR of 6.3%, and is expected to reach US$ 15.8 billion by the year 2033.
• The product type segment is divided into pneumococcal polysaccharide vaccines and pneumococcal conjugate vaccines, with pneumococcal conjugate vaccines taking the lead in 2023 with a market share of 62.5%.
• Considering distribution channel, the market is divided into pharmacies, community clinics, and others. Among these, pharmacies held a significant share of 68.9%.
• North America led the market by securing a market share of 39.4% in 2023.

Product Type Analysis

The pneumococcal conjugate vaccines segment led in 2023, claiming a market share of 62.5% owing to their effectiveness in preventing pneumococcal infections caused by multiple strains of Streptococcus pneumoniae. The increased global focus on preventing pneumonia, especially in vulnerable populations such as infants, elderly individuals, and immunocompromised patients, is likely to propel demand for pneumococcal conjugate vaccines (PCVs).

These vaccines are expected to see rising adoption due to their ability to provide long-term immunity and reduce the incidence of severe infections like pneumonia, meningitis, and bacteremia. Additionally, the introduction of new, more advanced PCVs targeting additional serotypes is anticipated to further boost the market. The growing implementation of vaccination programs worldwide, particularly in emerging markets, is projected to contribute to the continued growth of this segment.

Distribution Channel Analysis

The pharmacies held a significant share of 68.9% due to the increasing preference for convenient access to vaccines and the growing role of pharmacies in immunization programs. Pharmacies are likely to become a key point of distribution as consumers seek more accessible and time-efficient options for receiving vaccines, particularly for adults and the elderly who may not visit primary care physicians regularly. The convenience of walk-in vaccination services and extended hours offered by pharmacies is anticipated to drive this segment’s expansion.

Additionally, the growing awareness of the importance of pneumococcal vaccination and the rising prevalence of respiratory diseases are expected to fuel the demand for vaccines available at pharmacies. As more pharmacies incorporate vaccination services, the segment is projected to see significant growth, especially in developed markets where vaccination rates are increasing.

Key Market Segments

By Product Type

• Pneumococcal Polysaccharide Vaccines
• Pneumococcal Conjugate Vaccines

By Distribution Channel

• Pharmacies
• Community Clinics
• Others

Drivers

Growing Prevalence Of Pneumococcal Infections

Growing prevalence of pneumococcal infections significantly drives the pneumococcal vaccines market by escalating the need for effective prevention and treatment strategies. According to WHO’s 2023 estimates, pneumococcal infections are responsible for around 1.6 million global deaths annually, with nearly one million of these occurring in children under 5 years old. This alarming statistic highlights the critical importance of vaccination in reducing mortality rates and improving public health outcomes.

Pneumococcal vaccines, particularly the 13-valent conjugate vaccines recommended by WHO, play a pivotal role in preventing severe infections such as pneumonia, meningitis, and sepsis. As the incidence of pneumococcal diseases continues to rise, healthcare providers and governments prioritize the implementation of widespread vaccination programs to protect vulnerable populations.

Additionally, advancements in vaccine technology and increased funding for immunization initiatives enhance the accessibility and effectiveness of these vaccines. The growing recognition of the burden of pneumococcal diseases drives research and development efforts, leading to the introduction of more potent and comprehensive vaccine formulations.

Furthermore, international collaborations and public health campaigns raise awareness about the benefits of vaccination, encouraging higher uptake rates. The integration of pneumococcal vaccines into national immunization schedules, especially in developing regions, supports the market’s expansion by addressing unmet medical needs. As global health organizations continue to emphasize the importance of preventive measures, the demand for pneumococcal vaccines is expected to surge, fostering sustained growth and innovation within the market.

Restraints

Growing Concerns Over Vaccine Hesitancy

A significant restraint in the pneumococcal vaccines market is the growing concerns over vaccine hesitancy, which hinder the widespread adoption and effectiveness of immunization programs. Vaccine hesitancy, fueled by misinformation, fear of side effects, and distrust in pharmaceutical companies or government agencies, poses a major challenge to achieving high vaccination coverage rates.

High-profile cases of adverse reactions, whether real or perceived, contribute to skepticism and reluctance among certain populations to receive pneumococcal vaccines. Additionally, cultural and religious beliefs may influence individuals’ decisions against vaccination, limiting the reach of public health initiatives. The spread of anti-vaccine rhetoric through social media and other platforms exacerbates these concerns, making it difficult for healthcare providers to counteract misinformation effectively.

Furthermore, limited access to healthcare services in underserved areas can prevent individuals from obtaining necessary vaccinations, perpetuating the cycle of hesitancy and disease prevalence. The economic burden associated with vaccine hesitancy also affects the market, as lower uptake rates result in reduced sales and hinder the profitability of vaccine manufacturers.

To address these challenges, the market requires robust educational campaigns, transparent communication strategies, and community engagement efforts to rebuild trust and encourage vaccine acceptance. Without overcoming vaccine hesitancy, the pneumococcal vaccines market may face slowed growth and diminished impact on global health outcomes.

Opportunities

Rising Awareness Regarding Pneumococcal Infections

Rising awareness regarding pneumococcal infections creates substantial opportunities for the pneumococcal vaccines market by driving demand for preventive healthcare measures. In September 2023, the Centers for Disease Control and Prevention (CDC) emphasized the importance of pneumococcal vaccination, particularly for adults aged 65 and older and those with medical conditions that increase their vulnerability to the disease. This heightened awareness leads to increased advocacy and participation in vaccination programs, enhancing the market’s growth prospects.

Educational initiatives and public health campaigns inform the population about the severe consequences of pneumococcal diseases and the benefits of vaccination, encouraging higher uptake rates. Additionally, the integration of pneumococcal vaccines into routine healthcare practices ensures that at-risk populations receive timely immunizations, further boosting market demand. Advances in vaccine technology, such as the development of more effective and longer-lasting formulations, attract both healthcare providers and patients seeking optimal protection against infections.

The collaboration between government agencies, healthcare organizations, and vaccine manufacturers facilitates the distribution and accessibility of pneumococcal vaccines, expanding their reach to a broader audience. Furthermore, the increasing focus on preventive medicine and personalized healthcare strategies underscores the value of pneumococcal vaccines in comprehensive health management plans.

As more individuals become informed about the importance of vaccination, the market is anticipated to experience significant growth, supported by continuous innovations and the expanding scope of immunization programs globally. This rising awareness not only enhances public health but also drives the economic viability and sustainability of the pneumococcal vaccines market.

Impact of Macroeconomic / Geopolitical Factors

Macroeconomic and geopolitical factors significantly shape the pneumococcal vaccines market. On the positive side, increasing global healthcare spending and the rising burden of infectious diseases in both developed and developing countries drive demand for vaccination programs. The growing awareness of vaccine-preventable diseases and government support for immunization programs further fuel market growth. However, economic recessions can lead to reduced healthcare budgets, potentially slowing the implementation of widespread vaccination initiatives.

Geopolitical tensions, such as trade barriers or political instability, can disrupt the supply chain for vaccine production and distribution. Additionally, regulatory changes in different countries can create market access challenges. Despite these hurdles, the ongoing global focus on public health and vaccine development continues to provide a strong foundation for growth in the pneumococcal vaccine market.

Trends

Increase In R&D Of Improved Vaccines

Rising investment in research and development (R&D) of improved vaccines is a key factor driving the pneumococcal vaccines market. High levels of innovation in vaccine technology are expected to result in more effective vaccines with broader coverage against pneumococcal disease. The growing demand for more potent, longer-lasting vaccines is likely to accelerate development in this sector.

In April 2023, the FDA granted approval to Pfizer’s PREVNAR 20, a 20-valent pneumococcal conjugate vaccine. This vaccine is authorized for preventing invasive pneumococcal disease in infants and children aged 6 weeks to 17 years and for preventing otitis media in children aged 6 weeks to 5 years. The ongoing trend of R&D investments in vaccine innovation is projected to further expand the market, providing better protection against pneumococcal diseases and improving global health outcomes.

Regional Analysis

North America is leading the Pneumococcal Vaccines Market

North America dominated the market with the highest revenue share of 39.4% owing to several key factors, including increasing awareness about the importance of vaccination and the rising focus on public health initiatives. The ongoing efforts to improve vaccination rates among adults, particularly those aged 65 and above, contributed to this growth. A March 2022 article by NCBI highlighted the Healthy People 2030 initiative, spearheaded by the U.S. Department of Health and Human Services, which aims to increase vaccination rates among adults aged 19 and above.

This initiative has played a crucial role in enhancing the uptake of pneumococcal vaccines, especially as the population ages and the risk of pneumococcal diseases increases. Additionally, the COVID-19 pandemic underscored the importance of vaccination in preventing respiratory diseases, which further drove demand for pneumococcal vaccines.

The availability of advanced vaccines, such as those targeting multiple pneumococcal strains, has also contributed to the market’s growth, improving accessibility and effectiveness. With these ongoing public health efforts, the pneumococcal vaccines market in North America is expected to continue growing steadily.

The Asia Pacific region is expected to experience the highest CAGR during the forecast period

Asia Pacific is expected to grow with the fastest CAGR owing to rising healthcare awareness, an aging population, and increasing vaccination campaigns. The region’s growing focus on improving public health and reducing the burden of infectious diseases is expected to propel the demand for pneumococcal vaccines. As the incidence of respiratory diseases and pneumococcal infections increases, countries like China, India, and Japan are likely to intensify their vaccination programs.

The World Health Organization’s (WHO) support for immunization programs in low- and middle-income countries is also expected to contribute to market expansion. Additionally, the increasing prevalence of chronic diseases, such as diabetes and heart disease, which heighten the risk of pneumococcal infections, is anticipated to drive further demand for pneumococcal vaccination.

Government initiatives and partnerships with global vaccine manufacturers are projected to increase the availability of pneumococcal vaccines, contributing to the market’s growth across the region. With the expansion of healthcare infrastructure and greater access to vaccines, the pneumococcal vaccines market in Asia Pacific is likely to see sustained growth.

Key Regions and Countries

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherland
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Players Analysis

Key players in the pneumococcal vaccines market focus on strategies like developing advanced conjugate and polysaccharide vaccines to enhance efficacy and broaden coverage against multiple strains. Companies invest in research to innovate next-generation products that address unmet medical needs and emerging pneumococcal threats. Partnerships with public health organizations and governments strengthen immunization programs and expand access to vaccines in underserved regions.

Geographic expansion into countries with growing healthcare awareness drives vaccination rates. Many players also prioritize regulatory compliance and cost-effectiveness to ensure wide-scale adoption. Pfizer Inc. is a leading company in this market, known for its Prevnar family of pneumococcal vaccines.

The company combines cutting-edge research with robust global distribution networks to provide effective immunization solutions. Pfizer’s commitment to addressing global health challenges and its partnerships with health agencies solidify its leadership in the vaccine industry.

Top Key Players in the Pneumococcal Vaccines Market

• Walvax Biotechnology Co. Ltd
• Sanofi
• Pfizer Inc
• Panacea Biotech Ltd
• Merck & Co. Inc
• GlaxoSmithKline Plc
• CSL Ltd
• Astellas Pharma Inc

Recent Developments

• January 2024: Pfizer Inc. received marketing authorization from the EMA’s CHMP for its 20-valent pneumococcal conjugate vaccine, known as 20vPnC.
• June 2023: Sanofi and SK bioscience reported successful phase II trial results for GBP410, a 21-valent conjugate vaccine, suggesting broader serotype coverage than current vaccines.

Report Scope