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A recent report published by Infinium Global Research on 23 valent pneumococcal polysaccharide vaccine market provides 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 global 23 valent pneumococcal polysaccharide vaccine market.
The 23-valent pneumococcal polysaccharide vaccine is a crucial component in the prevention of pneumococcal diseases. This vaccine covers 23 different strains of the Streptococcus pneumonia bacteria, which are responsible for causing severe illnesses like pneumonia, meningitis, and bloodstream infections. This vaccine represents a significant segment within the pharmaceutical and healthcare industry. With a growing emphasis on preventive healthcare, coupled with the expansion of vaccination programs across various regions, the market for this vaccine is expected to experience notable growth in the foreseeable future. Market players involved in the production and distribution of this vaccine are likely to witness opportunities for expansion and innovation.
The 23 valent pneumococcal polysaccharide vaccine market is driven by the increasing geriatric population. As the global population ages, there's a growing demographic need for vaccination against pneumococcal diseases, driving significant demand for the 23-valent vaccine. Moreover, government initiatives and vaccination programs fuel the market growth. Government-backed immunization programs and initiatives focusing on preventive healthcare, especially in developing nations, are boosting the adoption and distribution of the 23-valent pneumococcal polysaccharide vaccine, amplifying its market growth. However, pricing issues make the vaccine less accessible, particularly in low-income regions can act as a barrier to market growth. Furthermore, the continued expansion of vaccination programs, both in developed and developing regions presents a prominent opportunity for market growth.
North America is expected to hold the most prominent market share in the upcoming forecast period. North America dominates the 23 valent pneumococcal polysaccharide vaccine owing to several contributing factors. These include a combination of robust healthcare infrastructure, high awareness levels among the population regarding the importance of vaccination, favorable government initiatives promoting immunization, and a well-established network of healthcare professionals advocating for preventive healthcare measures. Moreover, the region has significant market players investing in research and development, resulting in the early adoption and accessibility of advanced vaccines. The prevalence of pneumococcal diseases, coupled with a higher healthcare expenditure per capita in North America, further contributes to the dominance of the 23 valent pneumococcal polysaccharide vaccine in this region. Meanwhile, the Asia Pacific region is anticipated as the fastest-growing region in the 23 Valent Pneumococcal Polysaccharide Vaccine market. Several factors contribute to this growth, including the increasing healthcare expenditure, rising awareness about vaccination, and the expanding elderly population in countries like China, India, and Japan. The region's growing emphasis on preventive healthcare measures and initiatives to address infectious diseases was expected to drive the demand for pneumococcal vaccines, contributing to the notable growth of this market in Asia Pacific.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 2,112.97 Million |
| Market Size by 2030 | USD 4,212.53 Million |
| Growth Rate from 2023 to 2030 | CAGR of 9.06% |
| Largest Market | North America |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Type, By Age Group, and By Distribution Channel |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global 23 valent pneumococcal polysaccharide vaccine market covers segments such as type, age group, and distribution channel. 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 channel, the sub-markets include hospitals, clinics, and others.
The report provides profiles of the companies in the market such as Merck & Co., Inc., GSK plc., Walvax Biotechnology Co., Ltd., Zhi Fei Biological, SINOVAC, Chengdu Institute of Biology (CIB), Sanofi, Pfizer Inc., Beijing Minhai Biological Technology Co., Ltd., and Serum Institute of India Pvt. Ltd..
The report provides deep insights into 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 forecasts from 2023-2030. 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.
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