Bacterial Vaccines Market Growth is Accelerated by Increased...

Bacterial Vaccines Market Growth is Accelerated by Increased Research & Development Activities

Posted 2024-01-03 05:59:38

Bacterial vaccines help prevent infectious diseases caused by bacteria like pneumonia, meningitis, tetanus, diphtheria, pertussis, and others. These vaccines bolster immunity by mimicking an infection to develop antibodies without any risks of acquiring the disease. Growing prevalence of bacterial diseases, increasing awareness regarding health & wellness, and rising government initiatives to promote immunization programs are fueling the demand for bacterial vaccines globally. The global Bacterial Vaccines Market is estimated to be valued at US$ 23.77 billion in 2024 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 key trends:

Increased research and development activities in bacterial vaccines development is one of the key trends being witnessed in the market. Vaccine manufactures and research institutes are increasingly investing in R&D activities to develop novel vaccines with improved immunogenicity and safety against drug-resistant bacterial strains. For instance, GSK is developing a 15-valent pneumococcal conjugate vaccine candidate (15vPnC) which targets 15 serotypes of pneumococcus bacteria. Similarly, other key players are focusing on clinical trials of bacterial vaccine candidates for typhoid fever, tuberculosis, and others which is expected to accelerate the market growth over the forecast period.

Segment Analysis

The global bacterial vaccine market is segmented on the basis of product, distribution channel, and geography. By product, the market is segmented into pneumococcal, DPT, TB, meningococcal, and others. Among these, the pneumococcal vaccines segment accounted for the highest market share in 2023 owing to higher adoption of pneumococcal vaccines by developed countries. By distribution channel, the market is classified as institutional sales and retail sales. The institutional sales segment is expected to dominate over the forecast period due to higher sales of vaccines through public healthcare institutions.

Key Takeaways

The Global Bacterial Vaccines Market Size is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: North America is expected to be the fastest growing as well as dominating regional market between 2023-2030. High immunization programs by governments and presence of key players in the region are major factors driving the growth of the North American bacterial vaccine market.

Key players analysis: Key players operating in the bacterial vaccines market are Mondi Group, Kuraray Co. Ltd., Cortec Corporation, Arrow GreenTech Ltd., AMC (UK) Ltd., Aicello Corporation, Sekisui Chemical Co. Ltd., Neptun Technologies GmbH, and Mitsubishi Chemical Corporation, among others. Mondi Group held the largest market share in 2023 owing to its robust product portfolio and global presence.

Get More Insights Here

https://www.newswirestats.com/bacterial-vaccines-market-size-share-growth-outlook-2023/