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.