Bacterial Vaccines Market Estimated To Witness High Growth Owing To...

Bacterial Vaccines Market Estimated To Witness High Growth Owing To Increasing Incidence Of Bacterial Infections

Posté 2023-12-13 11:46:29

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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 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Bacterial vaccines help prevent infectious diseases caused by bacteria such as meningitis, pneumonia, diphtheria, tetanus and pertussis. Some key bacterial vaccines include pneumococcal vaccine, meningococcal vaccine and anthrax vaccine. These vaccines are either made from weakened live bacteria or dead bacteria and help the immune system to develop resistance against bacterial infections. They are administered to infants, children and adults depending on the disease.

Market Dynamics:
The bacterial vaccines market is primarily driven by increasing incidence of bacterial infections across the world. For instance, according to the World Health Organization, pneumonia causes over 800,000 deaths in children under 5 years of age each year, most of which are preventable with vaccination. Similarly, the incidence of meningitis also continues to remain high, especially in certain regions like sub-Saharan Africa. Furthermore, growing government support for new vaccine development through funding and rising awareness regarding benefits of vaccination are also propelling the market growth. However, factors like high costs associated with vaccine development and mandatory clinical trials are expected to hinder the market growth within the forecast period.

SWOT Analysis

Strengths:
- Three sentence explanation on safety and efficacy of bacterial vaccines compared to traditional antibiotics and drugs.
- Three sentence explanation on cost-effectiveness of bacterial vaccines in preventing diseases compared to lifetime treatment costs.

Weaknesses:
- Two to three sentence explanation on challenges in development and production of vaccines for newly emerging bacterial strains.
- Two to three sentence explanation on reluctance among patients and caregivers regarding newer vaccines.

Opportunities:
- Two to three sentence explanation on opportunities in developing and low-income countries with high disease burden.
- Two to three sentence explanation on opportunities arising due to continued research and development of improved vaccine technologies.

Threats:
- Two sentence explanation on threat of antibiotic resistance reducing efficacy of existing vaccines.
- Two sentence explanation on political and economic threats hindering vaccine access.

Key Takeaways

The Global Bacterial Vaccines Market Demand sis expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing prevalence of diseases such as pneumonia, meningitis and tetanus.

Regional analysis: North America dominated the global bacterial vaccines market in 2023 and is expected to continue its dominance over the forecast period. However, Asia Pacific is expected to witness highest growth rate during the forecast period due to improving healthcare infrastructure and rising focus of key players.

Key players: Key players operating in the bacterial vaccines market are GlaxoSmithKline plc, Pfizer Inc., Merck & Co. Inc., Sanofi Pasteur SA, Johnson & Johnson, Serum Institute of India Pvt. Ltd., Bharat Biotech International Limited, Biological E. Limited, Astellas Pharma Inc., Seqirus (CSL Limited), Mitsubishi Tanabe Pharma Corporation, Novavax Inc., Bavarian Nordic, Emergent BioSolutions Inc., Valneva SE.