Jun 17, 2019   SOURCE: PR NewsWire

Global Conjugate Vaccines Market to Surpass US$ 27,015.3 Million by 2026

SEATTLE, June 17, 2019 /PRNewswire/ -- According to Coherent Market Insights, the global conjugate vaccines market was valued at US$ 12,977.2 million in 2018, and is projected to exhibit a CAGR of 9.6% during the forecast period (2018 - 2026).

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Key Trends and Analysis of the Global Conjugate Vaccines Market:

Increasing cases of infectious diseases such as typhoid, pneumonia, and others is expected to drive the global conjugate vaccine growth. For instance, according to a study published in Science Direct Journal in 2017, 11.9 - 26.9 million cases of typhoid fever occur annually in low- and middle-income countries (LMICs). Moreover, as per the WHO 2016 data, around one million children globally die from pneumonia annually, and there has been an increasing demand for safe and effective vaccines that could prevent these deaths

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Moreover, increasing initiatives by various countries to introduce such vaccines in collaboration with funding programs is expected to create a hike in the overall revenue of the global conjugate vaccines market during the forecast period. In 2015, two countries (Armenia and Azerbaijan) requested to switch from PCV10 to PCV13. Thus, Gavi reviewed and approved the requests and both countries switched PCV product during 2016. The lowest advance market commitment (AMC) price per dose for GAVI eligible countries is currently between US$ 3.30 (PCV13) to US$ 3.05 (PCV10). However, the price per dose for non-Gavi middle-income countries (MICs) that procure PCV through UNICEF can range from US$ 7.00 to US$ 26.87 per dose, depending on manufacturer's differential pricing policies.

Increasing approvals for meningococcal conjugate vaccine candidates is expected to drive growth of the global conjugate vaccine market. For instance, in December 2016, Pfizer Inc. received an European Commission (EC) approval for its expanded indication for Nimenrix (meningococcal group A, C, W-135, and Y conjugate vaccine), which is indicated for active immunization against invasive meningococcal disease (IMD) caused by Neisseria meningitidis serogroups A, C, W-135, and Y (MenACWY) in infants as early as six weeks of age.

Among regions, North America is expected to be the most attractive region in the global conjugate vaccines market. Factors such as high presence of key players in the region, which are majorly involved in gaining regulatory approvals for their novel conjugate vaccines. Moreover, increasing mortality rate associated with pneumonia, growing awareness regarding pneumonia infection, and its symptoms among the U.S. population is expected to contribute to higher market revenue share in the near future. For instance, according to the American Lung Association: 2015, there were 56,832 deaths due to pneumonia and influenza in 2013, which combined were the eighth leading cause of death in the U.S.

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Key Market Takeaways:

    --  The global conjugate vaccine market is projected to witness CAGR of 9.6%
        during the forecast period (2018 - 2026), owing to increasing prevalence
        of pneumococcal diseases. Community-acquired pneumonia (CAP) is a major
        respiratory disease with a high prevalence in the general population,
        clinical heterogeneity, and variable severity. Both, in the U.S. and in
        Europe, CAP is the most frequent cause of death due to infection and it
        has implications for healthcare systems worldwide. For instance,
        according to the 2012 data of European Respiratory Society, overall
        incidence of CAP in Europe is reported to range 1.7 - 11.6 cases per
        1,000 people each year in adults
    --  Among product type, multivalent conjugate vaccine segment is expected to
        witness significant growth for global conjugate vaccine market, owing to
        increasing clinical trials to develop multivalent conjugate vaccines.
        For instance, in March 2019, Pfizer initiated three Phase III clinical
        trials to evaluate its 20-valent pneumococcal conjugate vaccine (20vPnC)
        to assess the safety and immunogenicity of 20vPnC vaccine candidate in
        adults aged 18 years and older. The study is estimated to complete in
        January 2020.
    --  Major players operating in the global Conjugate Vaccinesmarket include
        Sanofi S.A, Pfizer, Inc., Merck & Co., Inc., GlaxoSmithKline plc.,
        Bharat Biotech, Serum institute of India Pvt. Ltd., Biological E.
        Limited, and Bio-Med

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SOURCE Coherent Market Insights