Bacterial vaccines help in preventing various types of bacterial infections that cause conditions like pneumonia, meningitis, tetanus, diphtheria, pertussis, and tuberculosis among others. Bacterial vaccines work by activating the body’s natural immune system, thereby protecting against future infections. They are manufactured using weakened or killed forms of bacteria to trigger the immune system without causing an infection. The global rise in prevalence of bacterial diseases has accelerated the demand for efficient vaccination programs. Various partnerships between government agencies and vaccine manufacturers are aiding the development of novel and affordable vaccines.
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:
As highlighted in the heading, significant rise in government funding for vaccine development and manufacturing is expected to drive the growth of the bacterial vaccines market over the forecast period. Governments across countries are focusing on immunization programs and providing necessary funding to develop vaccines against diseases causing high morbidity and mortality rates. This factor is attracting private players to invest in R&D activities and bring forth novel vaccines in the market. Additionally, rising adoption of combination vaccines is another growth driver as it helps in streamlining immunization schedules and improves vaccination coverage. Combination vaccines protect against multiple bacterial strains and serotypes in a single vaccination thus reducing the number of required shots. The development of thermostable vaccines not requiring refrigeration is gaining traction especially in developing nations as it allows for easy transportation and storage in remote areas.
Segment Analysis
The global bacterial vaccines market is segmented on the basis of disease, route of administration, and end user. Based on disease, the market is segmented into pneumococcal disease, diphtheria, tetanus & pertussis, meningococcal disease, and other bacterial diseases. The pneumococcal disease segment dominates the market and accounts for over 30% share owing to high prevalence of pneumococcal pneumonia in developing and underdeveloped regions. The route of administration segment includes injectable and oral. The injectable segment dominates the market as it elicits the strongest humoral and cell-mediated immune response against bacterial infections. The end user segment consists of hospitals, specialty clinics, vaccination centers, and other end users. Hospitals dominate the segment as most vaccination procedures are carried out in hospitals.
PEST Analysis
Political: Governments across various countries are implementing vaccination programs to curb the burden of bacterial diseases. For instance, the Indian government’s Universal Immunization Program promotes vaccination against diphtheria, pertussis, and tetanus. This encourages use of bacterial vaccines.
Economic: Developing regions with high disease burden and growing geriatric population present significant growth opportunities. However, high vaccine prices can restrain market growth in price-sensitive markets.
Social: Rising healthcare awareness and improving access to healthcare services drive the demand for bacterial vaccines globally. However, medical hesitancy against vaccination remains a challenge.
Technological: Advancements in vaccine delivery technologies such as needle-free injection systems improve vaccine uptake and patient compliance. Investments in recombinant DNA technology also aid in the development of more effective multivalent bacterial vaccines.
Key Takeaways
The Global Bacterial Vaccines Market Size for 2024 is estimated to be US$ 23.77 Bn. Pneumococcal disease dominates the market owing to high disease prevalence.
Regional analysis: North America accounts for the largest market share due to robust vaccination programs and high adoption of multivalent bacterial
vaccines against pneumococcal disease and meningitis. Europe is the second largest market driven by supportive government initiatives to enhance vaccination rates. However, Asia Pacific is expected to witness the highest growth during the forecast period owing to increasing healthcare expenditures, growing base of older population, and rising penetration of combination bacterial vaccines in developing countries such as India and China.
Key players: Key players operating in the bacterial vaccines market are GlaxoSmithKline, Pfizer, Merck, Sanofi, Emergent BioSolutions, Astellas Pharma, and Panacea Biotec. GlaxoSmithKline dominates the pneumococcal vaccine segment with its 13-valent pneumococcal conjugate vaccine. Pfizer and Sanofi majorly offer combination bacterial vaccines for diphtheria, tetanus, and pertussis. Merck also provides vaccines for pneumococcal pneumonia, meningitis, and Haemophilus influenza type B.