by Bacterial vaccines help in preventing various diseases caused by bacteria such as diphtheria, tetanus, pertussis, haemophilus influenza type B, and pneumococcal disease. Growing prevalence of infectious diseases owing to changing lifestyle and environmental factors have increased the demand for effective vaccination programs across the globe. Bacterial vaccines are gaining high acceptance as efficient treatment measures against life-threatening diseases caused by various bacteria. Moreover, initiatives by governments and non-profit organizations to increase immunization rates in developing nations are propelling the market growth.
The global bacterial vaccines market is estimated to be valued at US$ 23.77 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing prevalence of infectious diseases and presence of strong pipeline products are major drivers fueling the growth of the bacterial vaccines market. According to the Centers for Disease Control and Prevention (CDC), in the United States, around 3,000 to 4,000 people get tetanus each year as unimmunized individuals remain vulnerable to the disease. Additionally, introduction of new multivalent bacterial vaccines covering multiple infectious diseases will further augment the demand over the forecast period. For instance, in February 2021, Serum Institute of India introduced a new Pentavalent vaccinethat protects against five deadly diseases – diphtheria, tetanus, pertussis, hepatitis B, and haemophilus influenza type B (Hib) – with a single injection.
Segment Analysis
The bacterial vaccines market can be segmented based on product, disease indication and end user. Based on product, the market is segmented into pneumococcal, DTP, meningococcal and influenza. Among these, the pneumococcal segment dominates the market and accounts for over 30% share. Pneumococcal disease like pneumonia is a very common and a serious infection that can affect the lungs as well as blood. The growing prevalence of pneumococcal disease has been a major factor driving the demand for pneumococcal vaccines.
PEST Analysis
Political: Government policies to strengthen immunization programs and increasing vaccination rates have positively impacted the market. For instance, the universal immunization program by Indian government aims to vaccinate all children.
Economic: Growing healthcare spending globally and rising affordability of medical services are driving the market growth. However, high R&D costs required for new vaccine development can deter small players.
Social: Increasing awareness regarding various bacterial infections and benefits of vaccination among public has increased the demand for bacterial vaccines. However, some religious beliefs and misconceptions about side effects hamper the growth.
Technological: Advancements in vaccine delivery methods, such as usage of novel adjuvants, have increased efficacy and production. Players are investing in new recombinant and gene-based technologies to develop advanced vaccines with shorter development timelines.
Key Takeaways
Global Bacterial Vaccines Market Size is expected to witness high growth over the forecast period. Pneumococcal disease prevalence has been rising globally due to increasing antimicrobial resistance. Growing geriatric population also contributes as older adults are at higher risk of contracting pneumococcal pneumonia. Hence, the pneumococcal segment will continue dominating the market.
Regional analysis – North America holds the major share currently due to favorable reimbursement policies and rising disease incidence. However, Asia Pacific is expected to grow at the fastest pace owing to large population base, improving access to healthcare facilities and increasing government focus on immunization programs in the region.
Key players – Key players operating in the bacterial vaccines market are Mondi Group, Kuraray Co. Ltd., Cortec Corporation, Arrow GreenTech Ltd., AMC (UK) Ltd., Aicello Corporation, Sekisui Chemical Co. Ltd., Neptun Technologies GmbH, and Mitsubishi Chemical Corporation, among others. These players are focusing on new product launches, collaborations and geographic expansion to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
