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

Bacterial Vaccines Market Estimated To Witness High Growth Owing To Rising Prevalence Of Bacterial Infections

Posted 2024-02-06 12:40:28

Bacterial vaccines help prevent various life-threatening bacterial infections like pneumonia, meningitis, tetanus, diphtheria, pertussis, tuberculosis, and others. They help induce immunological response in the body against specific bacteria to achieve desirable protection. The global adoption of bacterial vaccines is driven by their ability to control mortality and morbidity associated with infectious diseases.

The global bacterial vaccines market is estimated to be valued at US$ 27.39 Mn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The bacterial vaccines market is witnessing high growth owing to rising prevalence of bacterial infections globally. As per the World Health Organization, bacterial diseases remain a major cause of sickness and death worldwide, with tuberculosis, pneumonia, sexually transmitted infections and healthcare-associated infections among the leading infectious killers. The availability of government funding and favorable reimbursement policies are further supporting the adoption of bacterial vaccines. For instance, in 2021, the Indian government allocated Rs. 3138 crores for its Universal Immunization Programme (UIP), which includes vaccines for tuberculosis, diphtheria, tetanus, pertussis, hepatitis B and other diseases.

Growing demand for pneumococcal vaccines is also fueling the market growth. According to the CDC, pneumonia causes approximately 1.5 million deaths globally each year, mostly among infants and elderly population. Pneumococcal vaccines help curb this disease burden. Innovation in formulation technology and rising collaborations between vaccine manufacturers for new product development are some other factors projected to boost the bacterial vaccines market over the forecast period.

SWOT Analysis

Strength: Bacterial vaccines help prevent several diseases and provide long-lasting immunity. Increased awareness about immunization programs and government support for vaccine development are contributing to market growth.

Weakness: Developing new vaccines requires extensive research and clinical trials that make the process long and expensive. Storage and distribution of certain bacterial vaccines also require temperature-controlled cold chain logistics that increase costs.

Opportunity: High prevalence of bacterial diseases in developing countries presents major opportunities for vaccine manufacturers to penetrate emerging markets. Product development targeting drug-resistant bacterial strains can capture new revenue streams.

Threats: Efficacy and safety concerns with certain legacy vaccines may impact demand. Pharmaceutical companies also face stringent regulations for clinical trials and marketing approvals that delay product launches.

Key Takeaways

The global Bacterial Vaccines Market Demand is expected to witness high growth in the coming years. The global bacterial vaccines market is estimated to be valued at US$ 27.39 Mn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031.

North America currently dominates the market due to presence of major players and high healthcare expenditure. The bacterial vaccines market in Asia Pacific is projected to grow at the fastest CAGR during the forecast period. This can be attributed to the large patient pools, increasing healthcare spending, and government support for immunization activities in China, India, and other developing countries.

Key players: 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. These companies are focusing on new product launches and geographical expansion to consolidate their market positions.

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