Pneumococcal Vaccines Market Report 2023: R&D Consistency Drives Sector Growth

The global Pneumococcal Vaccines Market is expected to grow at a 4.1% CAGR during the forecast period. The market is currently valued at US$ 8.9 billion in 2023. By 2033, the market for pneumococcal vaccines is expected to exceed US$ 13.3 billion. During the base year, Future Market Insights analysts recorded a historical market valuation of US$ 8.5 Billion for the concerned market.

North America is expected to contribute a large revenue share to the global pneumococcal vaccines market over the forecast period due to rising healthcare expenditure, favourable reimbursement policies for pneumococcal vaccination, and the development of new multivalent pneumococcal vaccines. Furthermore, patients with Medicare in North America have no out-of-pocket costs for pneumococcal vaccines.

The global market for pneumococcal vaccines is divided into three segments: product type, distribution channel, and region. Based on product type, the market is divided into two categories: pneumococcal conjugate vaccines and pneumococcal polysaccharide vaccines. Because of the increasing number of R&D activities to develop new conjugate vaccines for expanding indications, the pneumococcal conjugate vaccines product type segment is expected to account for a significant revenue share in the global pneumococcal vaccines market.

Based on the distribution channel, the market is divided into pharmacies, public health agencies, community clinics, and other distribution channels. The distribution channel of public health agencies is expected to be the market leader 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.

Some of the key players proliferating in the market are:

  • Astellas Pharma Inc
  • GlaxoSmithKline Plc
  • Merck & Co. Inc
  • Panacea Biotech Ltd
  • Pfizer Inc
  • Sanofi S.A
  • Walvax Biotechnology Co. Ltd
  • CSL Ltd
  • Serum Institute of India Pvt. Ltd
  • Talley Group Ltd

Read More@ https://www.futuremarketinsights.com/reports/pneumococcal-vaccines-market

Key Segments in the Pneumococcal Vaccines Market

By Product Type:

  • Pneumococcal Polysaccharide Vaccines
  • Pneumococcal Conjugate Vaccines

By Distribution Channel:

  • Pharmacies
  • Community Clinics
  • Public Health Agencies
  • Others

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