A recent report published by
Infinium Global Research on the 23 valent pneumococcal polysaccharide vaccine
market provides an in-depth analysis of segments and sub-segments in the global as
well as regional 23 valent pneumococcal polysaccharide vaccine market. The
study also highlights the impact of drivers, restraints, and macro indicators
on the global and regional 23 valent pneumococcal polysaccharide vaccine market
over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of the global 23 valent
pneumococcal polysaccharide vaccine market. According to the report, the global
23 valent pneumococcal polysaccharide vaccine market is projected to reach USD 3333 million by 2027 from USD 1946 million in 2021, growing with a CAGR of 9% over the forecast period of 2021-2027.
23 Valent Pneumococcal
Polysaccharide Vaccine is used for protection against types of diseases caused
due to the pneumococcal bacteria including pneumonia a type of lung infection.
Other infections caused due to pneumococcal bacteria are Meningitis, sinus
infection, ear infection, bacteremia, and others. A 23 valent pneumococcal
polysaccharide vaccine provides protection from 23 different types of bacteria
causing pneumococcal disease. People who smoke cigarettes and people above
65 years of age with specific medical conditions are at high risk of getting
pneumococcal infections. Most of the time pneumococcal infections are mild and
if not treated can be fatal to the patient. 23 Valent Pneumococcal
Polysaccharide vaccine only needs one shot. Also, it is recommended for the age
group 65 and above as well as for children over 2 years of age having a high risk
of pneumococcal disease.
The growing adult population over
age 65 or the geriatric population is majorly driving the growth of the market. According to the United Nations, there were 703 million people 65 years of
age and above in 2019 and the number is expected to reach 1.5 billion by 2050.
People above 65 years of age who are at high risk of pneumococcal disease or
infection are recommended by doctors, and health experts to get vaccinated with
pneumococcal vaccine even if they are vaccinated before the age of 65. Growing
accessibility to healthcare facilities is also driving the growth of the
market. Hospitals and clinics are a major center for accessing the 23 Valent
Pneumococcal Polysaccharide Vaccine. An increase in the accessibility to these
healthcare facilities would mean increased access to the vaccine. Thus,
increasing its demand. Getting a vaccine approved in countries around the
world is a herculean task. Adding to this difficulty there are stringent
government regulations for the approval of vaccines owing to the sensitivity of
the trials. Thus, these stringent government regulations may hamper the growth
of the market. Nevertheless, new opportunities are expected to arise as new
technological advancements are taking place in terms of production techniques,
supply chain, and others.
The 23 Valent Pneumococcal
Polysaccharide Vaccine market is regionally categorized into North America,
Asia-Pacific, Europe, and RoW. North America is expected to dominate the market
over the forecast period. 23 Valent Pneumococcal Polysaccharide Vaccine is
mostly currently available in higher-income countries of which countries in
North America form a significant part. Advanced healthcare infrastructure
facilitating the easy distribution of vaccines combined with matured
pharmaceutical production base and an aging population with active demand for the
vaccine is increasing the scope of the market in North America.
The report on the global 23 valent
pneumococcal polysaccharide vaccine market covers segments such as type, age
group, and distribution. On the basis of type, the sub-markets include
pre-filled syringe, and single dose vial. On the basis of age group, the
sub-markets include 2-10 years, 10-64 years, and 64+ years. On the basis of
distribution, the sub-markets include hospitals, clinics, and others.
The report provides profiles of
the companies in the market such as Merck & Co., Inc., GlaxoSmithKline plc,
Walvax Biotechnology Co, Chongqing Zhifei Biological Products Co Ltd, Sinovac
Biotech Ltd., Chengdu Institute of Biological Products Co., Ltd., and Others.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the 23 valent pneumococcal polysaccharide vaccine market. Moreover, the
study highlights current market trends and provides forecast from 2021-2027. We
also have highlighted future trends in the market that will affect the demand
during the forecast period. Moreover, the competitive analysis given in each
regional market brings an insight into the market share of the leading players.