The global pneumococcal vaccine market is forecast to grow at a CAGR of nearly 4.0% during the forecast period. Increasing individual, governmental, and international organization expenditure on the pneumococcal vaccine to curb the pneumonia is a major factor for the growth of the market in the near future. Few market players have a major market share in the pneumococcal vaccine all across the globe which includes Pfizer Inc., Sanofi SA, and GlaxoSmithKline PLC.
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Pfizer is the market leader in the pneumococcal vaccine market. The company offers the pneumococcal vaccine under the brand name Prevnar 13. It first got the European Union approval in December 2009 and then the US FDA approval in February 2010. In 2019, the company generated $5.8 billion from the sales of Prevnar 13. Out of the total revenue, around $3.2 billion was generated from the US alone.
Merck & Co., Inc. is another major company offering vaccines all across the globe. The company offers Pneumovax 23. The vaccine has generated revenue of $926 million in 2019 as compared to $907 million and $821 million in 2018 and 2017 respectively. GlaxoSmithKline PLC is another major player in the pneumococcal vaccine. The company is offering Synflorix against pneumonia all across the globe except the US. The vaccine has generated revenue of more than $580 million in 2019 compared to more than $430 million in 2018. The company also offers its vaccines to 10 Gavi-eligible countries at a discounted price. The company has pledged to deliver 720 million doses of Synflorix.
However, new players are also entering the market which can end the monopoly of the companies in the global market. For instance, in January 2020, a Chinese company Walvax Biotechnology Co., Ltd. got the pneumococcal 13-valent conjugate vaccine approval from the National Medical Products Administration. It is the first pneumococcal 13-valent conjugate vaccine developed which can affect the revenue of Pfizer Inc. In 2018, about 3.85 million doses of Prevnar 13 were sold in China whereas Walva is planning to produce around 30 million doses in a year. Moreover, in December 2019, India based Serum Institute of India also developed a 10-valent pneumococcal vaccine and got WHO approvals.
However, the major players are also significantly working to develop new products. For instance, Pfizer Inc. is working to develop a vaccine against all 20 serotypes of pneumonia disease. Merck & Co., Inc. is also working on the V114 polyvalent conjugate 15-valent pneumococcal vaccine. Phase 3 of the vaccine was initiated in June 2018 in adults over 50 years and on pediatric were initiated in October 2018. In June 2020, the company got success in two phases 3 trials of the vaccine. Due to multiple activities, a considerable disruption in the revenue of the companies will be witnessed in the near future which are dealing in the pneumococcal vaccine industry.
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Global Pneumococcal Vaccine Market- Segmentation
By Vaccine Type
- Pneumococcal Conjugate Vaccine (PCV13)
- Pneumococcal Polysaccharide Vaccine (PPSV23)
- Others
By Distribution Channel
- Public
- Private
By Type
- Branded
- Generic
By Age Group
- Children
- Adult
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
