As per our research report, the global conjugate vaccine market is estimated to grow to USD 33.23 billion by 2027 from USD 15.59 billion in 2022, rising at a CAGR of 16.34% from 2022 to 2027.
Vaccines with bacterial capsule polysaccharides or antigens linked or conjugated to a protein are conjugated vaccines. This protein is important for increasing the polysaccharide’s immunogenicity. Vaccines against Hib bacteria, H. influenzae, Streptococcus pneumonia, and Neisseria meningitides are commonly used to protect newborns and children against invasive illnesses. Some bacteria and viruses have unique polysaccharide coats that help them evade the immune system.
The COVID-19 pandemic has already spread to over 200 countries around the world. Manufacturers have been under pressure to increase production capacities and increase product and commodity availability due to the outbreak. The pandemic has forced the United Nations Children’s Fund (UNICEF), the World Health Organization (WHO), the Pan American Health Organization (PAHO), and other organizations to suspend their usual immunization efforts. The Pan American Health Organization (PAHO), for example, has created a new platform targeted at alleviating the critical shortage of COVID-19 inoculations in Latin America and the Caribbean by producing them locally. The suspension of immunization efforts and a drop in vaccination rates have significantly strained healthcare institutions, raising mortality rates by exposing the population to dangerous antigens. Also, if the availability of pneumococcal vaccine is reduced, the prevalence of pneumococcal illness may rise, resulting in higher mortality rates. As a result, the COVID-19 outbreak has drastically reduced product adoption. In addition, vaccination rates have been slower in low and middle-income countries than in high-income countries. However, because of increased investments in illness research and development, the market is expected to grow positively in 2021. Moreover, during the forecast period, the launch of promising products is likely to contribute to market growth.
The global conjugate vaccine market is being driven by an increase in conjugate vaccines for adults, an increase in the number of regulatory approvals for conjugate vaccines, an increase in the prevalence of diseases caused by microorganisms streptococcus pneumonia and Neisseria meningitides, and technological advancements. Furthermore, an increase in the number of health awareness initiatives promoting vaccination and avoiding infectious diseases is likely to support the target market’s growth throughout the forecast period. In addition, over the projected period, the global market is also expected to benefit from increased research and development operations for the development of technologically advanced and new products, as well as the development of strategic business activities such as mergers and acquisitions.
During the forecast period, increasing partnerships among major companies to develop and deliver vaccines for pneumococcal and meningococcal illnesses in the market and ongoing clinical trial research on pneumococcal vaccines are projected to propel the global conjugated vaccines market forward. Conjugate vaccines are also becoming more popular due to a variety of advantages. They have a high survival rate and quickly produce herd immunity. Additionally, they boost immunity and memory while also offering long-term protection. This is driving up the market growth in the coming years.
On the other hand, lack of availability in distant locations, as well as the lengthy and challenging production procedure of conjugate vaccination, are projected to limit worldwide market growth over the forecast period. However, low vaccine accessibility in rural locations and the complex production process of conjugate vaccines are projected to challenge the development of the global conjugate vaccine market.
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KEY MARKET INSIGHTS:
The multivalent conjugate vaccines segment held the largest share of the global conjugate vaccine market over the forecast period. The multivalent conjugate vaccination combines two or more antigen strains of serotypes. The multivalent conjugate vaccination, for example, protects against multiple strains of pneumococcal bacteria. This style is said to be the most cost-effective. The market is expanding due to the increasing efficiency of conjugate vaccine makers. However, due to advancements in technology and government incentives, the multivalent conjugate vaccine segment is expected to grow in the near future. Due to its beneficial characteristics, the segment is expected to contribute the most significant market share over the anticipated period.
Based on the indication, every other segment was dominated by the DTP (diphtheria-tetanus-pertussis) segment. The growth of DTP is due to an increase in respiratory tract infections and their infectious nature.
The bacterial conjugate vaccine segment accounted for the largest market share during the projection period based on pathogen type. Vaccines against bacterial illnesses are known as bacterial conjugate vaccines. There are two examples of Haemophilus Influenzae Conjugate Vaccine (Hib) and Pneumococcal Conjugate Vaccine (PCV). Toxoid vaccines are made by inactivating the toxins generated by microorganisms. Therefore, bacterial Conjugate Vaccines, such as the PCV, are in high demand, particularly in South Asia and Sub-Saharan Africa, where pneumonia is common.
Based on the end-user, the pediatric conjugate vaccination segment accounted for a significant portion of the global market because of the increasing frequency of infectious diseases among children.
Due to increased activities by healthcare providers and hospitals, Asia Pacific is also likely to fuel growth in the worldwide conjugate vaccine market. Furthermore, different regional and national governments are focusing on vaccination programs to meet the need. Due to increased immunization activities by organizations such as GAVI and the World Health Organization in rising economies such as India and China, the market in the Asia Pacific is expected to grow during the forecast period. The region’s demand for conjugate vaccines is projected to be fueled by a growing focus of key manufacturers on the market in India and government measures to combat infectious illnesses. India is expected to be the fastest expanding market for conjugate vaccines during the forecast period. The Indian market will grow due to a rapidly growing population, increased consumer awareness, rising disposable income and healthcare expenditure, modernization of healthcare infrastructure, and growing medical tourism industry.
Due to increased initiatives by key participants in the development of conjugate vaccination systems for diverse applications, Europe is likely to rise at a significant rate. Furthermore, due to increased government attention to research and the availability of money for research and development operations across various countries in this region, the European market is predicted to grow at the second-fastest rate in terms of revenue over the forecast period.
Due to the rising demand for pneumococcal, meningococcal, and other conjugate vaccines, North America is expected to be the most lucrative market for conjugate vaccines during the forecast period.
Companies playing a key role in the global conjugate vaccine market profiled in this report are Biological E, Bharat Biotech, Neuron Biotech, Novartis AG, Merck and Company, GlaxoSmithKline, PLC., Pfizer, Inc., Sanofi Pasteur, Serum Institute of India, Walvax Biotechnology, Royal (Wuxi) Bio-Pharmaceutical, and Zhifei Biologic.
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SEGMENTS ANALYZED UNDER THIS REPORT:
By Disease Indication:
By Pathogen Type:
- Bacterial Conjugate Vaccine
- Viral Conjugate Vaccine
- Combination (Viral and Bacterial) Conjugate Vaccine
By Patient Stage:
- North America
- Latin America
- Middle East and Africa
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