Global Conjugate Vaccine Market, by Product Type (Monovalent Conjugate Vaccines and Multivalent Conjugate Vaccine), by Disease Indication (Pneumococcal, Influenza, Meningococcal, and Typhoid), by Pathogen Type ( Bacterial and Viral), by Patient Type ( Pediatric and Adults), and by region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is valued at US$ 18,012.08 million in 2022 and is expected to exhibit a CAGR of 9.6% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing vaccine approval from the U.S. FDA (Food and Drug Administration) to key market players is expected to drive growth of the global conjugate vaccine market over the forecast period. For instance, in June 2021, Pfizer Inc., a pharmaceutical company, had announced that the U.S. Food and Drug Administration (FDA) had approved PREVNAR 20 (Pneumococcal 20-valent Conjugate Vaccine) for the prevention of invasive disease and pneumonia caused by the 20 Streptococcus pneumoniae (pneumococcus) serotypes in the vaccine in adults ages 18 years and older. Following FDA approval, the U.S. Centers for Disease Control and Prevention’s (CDC) Advisory Committee on Immunization Practices (ACIP) was expected to meet to discuss and update recommendations on the safe and appropriate use of pneumococcal vaccines in adults. PREVNAR 20 includes capsular polysaccharide conjugates for the 13 serotypes (1, 3, 4, 5, 6A, 6B, 7F, 9V, 14, 18C, 19A, 19F, and 23F) already included in Prevnar 13 (Pneumococcal 13-valent Conjugate Vaccine. The vaccine also contains capsular polysaccharide conjugates for seven additional serotypes (8, 10A, 11A, 12F, 15B, 22F, and 33F) that cause invasive pneumococcal disease (IPD) and have been associated with high case-fatality rates, antibiotic resistance, and/or meningitis.
Global Conjugate Vaccine Market - Impact of Coronavirus (COVID-19) Pandemic
The Coronavirus (COVID-19) pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors. The private healthcare sector is one of the sectors, which has been majorly impacted by the COVID-19 pandemic. The lockdown in various countries due to the COVID-19 pandemic has created an economic burden on the private healthcare sector.
However, In April 2021, The Journal of Infectious disease reported that protective effects of 13-valent pneumococcal conjugate vaccine, PCV13 also showed protective effects against SARS-CoV-2 infections. The lower rates of pediatric PCV13 vaccination due to the COVID-19 pandemic could exacerbate the effect of PCV13 serotypes on respiratory viruses, such as SARS-CoV-2.
Moreover, in June 2020, UNICEF, United Nations International Children's Emergency Fund, a Humanitarian aid organization, published a 2019 report which estimated 2.43 billion doses of vaccines to around 100 countries to reach approximately 45% of the world’s children under five. Vaccines were supplied in support of country programs, in addition to outbreak and humanitarian response activities. Thus, impact of the Coronavirus (COVID-19) pandemic is expected to drive growth of the global conjugate vaccine market during the pandemic.
Global Conjugate Market: Key Developments
Increasing vaccine approval from the U.S. FDA (Food and Drug Administration) to key market players is expected to drive growth of the global conjugate vaccine market over the forecast period. For instance, on June 22, 2022, Merck & Co., Inc., a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) approved an expanded indication for VAXNEUVANCE (Pneumococcal 15-valent Conjugate Vaccine) to include children 6 weeks through 17 years of age. VAXNEUVANCE is now indicated for active immunization for the prevention of invasive disease caused by Streptococcus pneumoniae serotypes 1, 3, 4, 5, 6A, 6B, 7F, 9V, 14, 18C, 19A, 19F, 22F, 23F, and 33F in individuals 6 weeks of age and older. VAXNEUVANCE is contraindicated for individuals with a severe allergic reaction (e.g., anaphylaxis) to any component of VAXNEUVANCE or to diphtheria toxoid.
Moreover, on February 15, 2022, Pfizer Inc., a pharmaceutical company, had announced that the European Medicines Agency (EMA) had approved the company’s 20-valent pneumococcal conjugate vaccine (PCV20), which will be marketed in the European Union (EU) under the brand name APEXXNAR. The vaccine is approved for active immunization for the prevention of invasive disease and pneumonia caused by Streptococcus pneumoniae in individuals 18 years of age and older.
Browse 38 Market Data Tables and 33 Figures spread through 186 Pages and in-depth TOC on "Global Conjugate Vaccine Market, by Product Types (Monovalent Conjugate Vaccines and Multivalent Conjugate Vaccine), by Disease Indication (Pneumococcal, Influenza, Meningococcal, and Typhoid), by Pathogen Type (Bacterial and Viral), by Patient Type (Pediatric and Adults), and by region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2030
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Key Takeaways of the Global Conjugate Vaccine Market:
- Global conjugate vaccine market is expected to witness a CAGR of 9.6% during the forecast period, owing to increasing initiatives taken by the governments of respective countries to protect the children from serious health conditions is expected to drive growth of the global conjugate vaccine market over the forecast period. For instance in August 2021, the government of Andhra Pradesh (India) launched a pneumococcal Vaccine drive for the protection of children from serious health conditions and reduce child mortality. The PCV is a safe and effective vaccine and is administered in three doses at the age of 6 weeks, 14 weeks, and 40 weeks.
- Increasing acquisitions by key players for expanding conjugate vaccine business are expected to drive the global conjugate vaccine market growth. For instance on May 31, 2022, GSK plc, a pharmaceutical company, announced that it entered into a definitive agreement to acquire Affinivax, Inc., a clinical-stage biopharmaceutical company based in Cambridge, Boston, Massachusetts, US for a US$2.1 billion upfront payment and up to US$1.2 billion in potential development. Affinivax is pioneering the development of a novel class of vaccines, the advanced next-generation pneumococcal vaccines.
- Major players operating in the global conjugate vaccine market include, Sanofi S.A, Pfizer, Inc., Merck & Co., Inc., GlaxoSmithKline plc., Bharat Biotech, Serum institute of India Pvt. Ltd., Biological E. Limited, Bio-Med, Bavarian Nordic, CSL Limited, Novartis AG, Vaxcyte, GSBPL, Taj Pharmaceuticals Limited, and Bavarian Nordic
