Global 23-valent Pneumococcal Polysaccharide Vaccine Market is segmented By Dose Type (Single Dose Vial, Pre-Filled Syringe), By Age-Group(Children (2-10 years), Adults (10-64 years), Geriatrics (65 years and above)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Market Overview
The Global "23-valent Pneumococcal Polysaccharide Vaccine Market" is estimated to reach at a high CAGR during the forecast period (2023-2030).
Pneumococcal is an infectious disease affected by the streptococcus pneumonia bacteria, which may cause different illnesses such as ear infections, meningitis, and others. Pneumococcal polysaccharide vaccines are advised mostly for adults who suffer from pneumococcal infection.
Market Dynamics
The growing number of pneumococcal diseases associated with chronic disease patients is expected to drive market growth.
According to the American Lung Association, Pneumococcal pneumonia is a potentially serious disease that can cause a range of different illnesses, including sinusitis, otitis media, pneumonia, bacteremia, osteomyelitis, septic arthritis and meningitis. Sinusitis affects 1 out of every seven adults in the United States, with more than 30 million individuals diagnosed each year. Moreover, the immune system naturally weakens with age, so even if you're healthy and active, being 65 or older is a key risk factor for pneumococcal pneumonia leading to an increased risk of chronic conditions, including COPD, Asthma, and heart disease Disease and Diabetes. Therefore it has led to an increase in the demand for the 23-Valent pneumococcal polysaccharide vaccine, which is expected to drive the market in the forecast period.
Side effects of PNEUMOVAX 23 (Pneumococcal Vaccine Polyvalent) are expected to hamper the market growth.
According to Merck, PNEUMOVAX 23 is a vaccine that is given as a shot. It helps protect from infection by certain germs or bacteria, which are called pneumococcus. Moreover, Pneumovax 23 vaccine is important for preventing infection in individuals at risk, including those with heart disease, lung disease, liver disease, kidney disease, diabetes, alcoholism, cirrhosis, spleen problems, sickle cell anemia, HIV, certain cancers, adults over 65 years of age. But the vaccine may not protect everyone who gets it, and it will not protect against diseases caused by bacteria types that are not in the vaccine. Besides the benefits of the vaccine, there are a few side effects, including pain, warmth, soreness, redness, swelling, and hardening at the injection site, headache, weakness and feeling tired, and muscle pain. Thus, from the above statements, the market is expected to get hampered in the forecast period.
Industry Analysis
PESTAnalysis:
COVID-19 Impact Analysis
The coronavirus disease 2019 (COVID-19) pandemic is associated with high morbidity and mortality. Evidence shows that severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), the causative agent of COVID-19, is originally transmitted through respiratory droplets from symptomatic, asymptomatic, or pre-symptomatic individuals. Like other respiratory pathogens, such as influenza, where approximately 25% of older patients get secondary bacterial infections, both superinfections and co-infections with SARS-CoV-2 have been reported. However, there is limited data on the frequency of co-infection and superinfections by viral, bacterial, or fungal infections and associated clinical outcomes among patients infected with SARS-CoV-2.
Moreover, the co-infection acts as the recovery of other respiratory pathogens in patients with SARS-CoV-2 infection at the time of a SARS-CoV-2 infection diagnosis and superinfection as the subsequent recovery of other respiratory pathogens during care for SARS-CoV-2 infection. Two previous reviews have examined the prevalence of bacterial and fungal co-infection or superinfection in SARS-CoV-2 infected patients. In addition, prior work suggests outcome differences in patients with co-infections vs. superinfections. For instance, Garcia-Vidal et al. showed that SARS-CoV-2 infected patients with superinfections had a longer hospital stay (LOS) and higher mortality. In contrast, those with co-infections had a higher frequency of admission to the ICU. Diagnostic testing and therapeutic decision-making may be altered by the presence of co-infection or superinfection with SARS-CoV-2 and other respiratory pathogens.
Additionally, the market faces challenges in manufacturing and delivering drugs due to an interrupted supply chain. Providing essential services due to lockdowns has led to reduced supply to the end-users. The pandemic is not likely to have long-term effects on end-users primary growth in the 23-valent pneumococcal polysaccharide vaccine market.
Segment Analysis
The geriatrics (65 years and above) segment is expected to hold the largest market share in this market segment.
The geriatrics (65 years and above) segment is estimated for the largest market share in 2020. The segment growth is attributed to the rise in the geriatric population, rise in the incidence of bacterial infections is expected to boost the market in the forecast period. For instance, according to the Administration for Community Living, published in May 2021, In the U.S., the population age 65 and older numbered 54.1 million in 2019. They represented 16% of the population, more than one in every seven Americans. The number of older Americans has increased by 14.4 million (or 36%) since 2009, compared to 3% for the under-65 population. Between 2009 and 2019, the number of Americans aged 45-64 (who will reach age 65 over the next two decades) increased by 4%, from 80.3 million to 83.3 million. The number of Americans age 60 and older increased by 34%, from 55.7 million to 74.6 million.
Moreover, in 2019, 30 million women and 24.1 million men were age 65 and older. That’s 125 women for every 100 men, and people age 65 and older represented 16% of the population in 2019 but are expected to grow to be 21.6% by 2040. Therefore, PPSV23 protects against 23 types of bacteria that cause pneumococcal disease, and it is recommended for all 65 years or older. Most people need only one dose of PPSV23. A second dose of PPSV23, and another type of pneumococcal vaccine called PCV13, are recommended for certain high-risk groups. Furthermore, People 65 years or older should get a dose of PPSV23 even if they had already taken one or more doses of the vaccine before they turned 65. Thus, the segment is expected to hold the largest market share in the forecast period from the above statements.
Geographical Analysis
North America region holds the largest market share in the global 23-valent pneumococcal polysaccharide vaccine market.
North America accounted for the largest revenue share in 2020. The growth is attributed to the high prevalence of bacterial pneumonia, well-established vaccination program in the region, increasing prevalence of diseases, growing adoption of advanced vaccines, and a large pool of key players, the largest supplier and consumption market of 23-valent pneumococcal polysaccharide vaccine, are the major factors that the market is expected to boost the forecast period. For instance, according to the American Lung Association, The most common type of bacterial pneumonia is called pneumococcal pneumonia. Pneumococcal pneumonia is caused by the Streptococcus pneumoniae germ that normally lives in the upper respiratory tract. It infects over 900,000 Americans every year. The greatest risk for bacterial pneumonia includes people recovering from surgery, people with respiratory disease or viral infection, and weakened immune systems.
Moreover, it causes more than a million hospitalizations and more than 50,000 deaths each year. Therefore, it has increased the demand for the 23-Valent pneumococcal polysaccharide vaccine, due to which the North American region is expected to hold the largest market share in the forecast period.
Competitive Landscape
The 23-valent pneumococcal polysaccharide vaccine market is vast with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Pfizer Inc., Sanofi S.A., GlaxoSmithKline Plc, Merck & Co., AstraZeneca, Baxter International Inc., Biogen Inc., Serum Institute of India, Eli Lilly and Company and Beijing Minhai Biotechnology. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the 23-valent pneumococcal polysaccharide vaccine market globally.
Merck & Co.:
Overview:
Merck & Co., Inc., outside the United States and Canada, is an American multinational pharmaceutical company headquartered in Kenilworth, New Jersey. It is named after the Merck family, which set up Merck Group in Germany in 1668. Merck & Co. was established as an American affiliate in 1891. The company develops and produces medicines, vaccines, biological therapies and animal health products. It has multiple blockbuster drugs or products, each with 2020 revenues, including cancer immunotherapy, anti-diabetic medication and vaccines against HPV and chickenpox. Moreover, the company is ranked 69th on the 2021 Fortune 500 and 92nd on the 2021 Forbes Global 2000, both based on 2020 revenues.
Product Portfolio:
Merck & Co. is into continuous manufacturing of products for pneumococcal disease caused by the 23 serotypes contained in the vaccine (1, 2, 3, 4, 5, 6B, 7F, 8, 9N, 9V, 10A, 11A, 12F, 14, 15B, 17F, 18C, 19F, 19A, 20, 22F, 23F, and 33F). For instance, PNEUMOVAX 23 (Pneumococcal Vaccine Polyvalent).
