Conjugate Vaccine Market Size And Forecast

Conjugate Vaccine Market size was valued at USD 9.48 Billion in 2020 and is projected to reach USD 19.43 Billion by 2028, growing at a CAGR of 9.11% from 2021 to 2028.

The increasing use of conjugate vaccines for adults and the rising number of regulatory approvals for conjugate vaccines is anticipated to drive the growth of the market. The Global Conjugate Vaccine Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Conjugate Vaccine Market Size And Forecast

Conjugate Vaccine Market size was valued at USD 9.48 Billion in 2020 and is projected to reach USD 19.43 Billion by 2028, growing at a CAGR of 9.11% from 2021 to 2028.

The increasing use of conjugate vaccines for adults and the rising number of regulatory approvals for conjugate vaccines is anticipated to drive the growth of the market. The Global Conjugate Vaccine Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

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Global Conjugate Vaccine Market Overview

The pneumococcal disease includes a range of illnesses that affect various parts of the body and are caused by infection with the bacterium Streptococcus pneumoniae, also known as pneumococcus. Young children mostly below the age of 5, older people above the age of 65 and people with impaired immune systems are among the most susceptible to pneumococcal disease. Streptococcus pneumoniae (pneumococcus) can cause a range of different illnesses including pneumonia, sinusitis, meningitis, osteomyelitis, bacteraemia, and septic arthritis. Vaccines help in preventing these invasive pneumococcal diseases. Pneumococcal diseases have a significant presence in the South Asian and Sub-Saharan countries. These countries are witnessing an increase in demand for vaccines to combat the various types of bacterial infections, especially, pneumonia. In view of this, various leading vaccine manufacturers are involved in research and development for the development of vaccines. Since pneumonia has a significant presence in various countries, demand for PCV vaccines is on a rise. As of March 2021, 147 countries have introduced PCV into their National Immunization Program. This is expected to boost demand for OCV vaccines.

In countries where pneumococcal diseases are highly prevalent, the government is coming up with initiatives to tackle the diseases. One of the major challenges for these countries is that vaccines are far out of reach, especially in countries such as India, where a majority of the population lives in rural parts. In these areas, lack of awareness regarding the importance of vaccination for newborns or lack of knowledge about the vaccine shots for children under the age of 5, has led to rising in the number of children deaths. In fact, in India, around 16% of deaths among children occur due to pneumonia. In addition, the high cost of the PCV vaccine makes it even more difficult for the government to introduce it on a large scale. In 2021, India completed the national introduction of the pneumococcal conjugate vaccine.

Global Conjugate Vaccine Market: Segmentation Analysis

The Global Conjugate Vaccine Market is segmented based on Type, Disease Indication, Pathogen Type, And Geography.

Conjugate Vaccine Market, By Type

• Monovalent Conjugate Vaccines
• Multivalent Conjugate Vaccines

Based on Type, the market is bifurcated into Monovalent Conjugate Vaccines, Multivalent Conjugate Vaccines. Multivalent Conjugate Vaccines accounted for the largest market share and is projected to grow at the highest CAGR of 9.50% during the forecast period. The multivalent conjugate vaccine contains two or more strains or serotypes of the same antigen For example, the multivalent conjugate vaccine protects against several strains of pneumococcal bacteria. This type is considered a cost-effective choice. The improving efficiency of the conjugate vaccine manufacturers is adding lucrative growth to the market. However, the multivalent conjugate vaccines segment is anticipated to expand in the near future owing to the improvements in technology and government initiatives. The segment is contributing to the largest market share in the forecasted period owing to its advantageous features.

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 Conjugate Vaccine Market, By Disease Indication

• Pneumococcal
• Influenza
• DTP
• Meningococcal
• Others

Based on Disease Indication, the market is bifurcated into Pneumococcal, Influenza, DTP, Meningococcal, Others. The DTP (diphtheria-tetanus-pertussis) segment dominated every other segment. The rise in the number and the contagious nature of respiratory tract infection is responsible for the growth of DTP. In addition, the pneumococcal segment is expected to expand at the fastest pace during the forecast period

Conjugate Vaccine Market, By Pathogen Type

• Bacterial Conjugate Vaccine
• Viral Conjugate Vaccine
• Combination (Viral and Bacterial) Conjugate Vaccine

On the basis of Pathogen Type, the Global Conjugate Vaccine Market has been segmented into Bacterial Conjugate Vaccine, Viral Conjugate Vaccine, and Combination (Viral and Bacterial) Conjugate Vaccine. Bacterial Conjugate Vaccine accounted for the largest market share and is projected to grow at a CAGR of 8.62% during the forecast period. Bacterial Conjugate vaccines are used to prevent bacterial infections. Examples include Haemophilus Influenza Conjugate Vaccine (Hib) and Pneumococcal Conjugate Vaccine (PCV).  The toxins secreted by bacteria are inactivated to make toxoid vaccines. Demand for Bacterial Conjugate Vaccines such as the PCV is high, especially from South Asia and sub-Saharan Africa countries, where the prevalence of pneumonia is relatively high. Pneumonia causes around 750,000 child deaths per year in sub-Saharan African (SSA) countries. Nigerian children made up the highest number of those who died, with an estimated 162,000 deaths in 2018 – 443 deaths per day, or 18 every hour.

Conjugate Vaccine Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of regional analysis, the Global Conjugate Vaccine Market is classified into North America, Europe, Asia Pacific, and Rest of the world. North America accounted for the largest market share and is projected to grow at a CAGR of 8.52% during the forecast period. The early adoption of the advancement in technology in this region leads to a greater degree of flexibility in terms of expansion and innovation in comparison to those in Europe and some parts of Asia. This region is comprised of developed countries that provide full coverage on the healthcare systems, research and development activities and therefore considered as the well-developed public health care region. The North American region is attributed to dominate the overall market owing to the presence of the established key players in the region with the healthcare infrastructure facility.

Key Players

The “Global Conjugate Vaccine Market” study report will provide valuable insight with an emphasis on the global market.  The major players in the market are Bharat Biotech, Biological E, CSL Limited, Glaxo SmithKline, plc., Merck and Company, Bio-Rad, Novartis AG, Pfizer Inc., Sanofi Pasteur, and Serum Institute of India. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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