A lead analyst at AMR highlighted that the pneumonia vaccine market in Asia-Pacific is anticipated to grow at the fastest CAGR during the forecast period.
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Allied Market Research published a research report on the pneumonia vaccine market. The findings of the report state that the global market for pneumonia vaccines generated $7.08 billion in 2017 and is expected to reach $10.21 billion by 2025, growing at a CAGR of 5% from 2018 to 2025. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenarios for market players, investors, shareholders, and new entrants.
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The report provides detailed insights on drivers, restraints, and opportunities to help the market players in devising several growth strategies. An increase in the prevalence of pneumococcal contaminations within the population, presence of government support in creating awareness regarding pneumonia immunization programs, and the introduction of novel pneumococcal vaccines are expected to drive the growth of the market. On the other hand, high costs related to the development of vaccines are expected to hinder growth to some extent. However, the development of innovative protein-based vaccines for pneumonia is expected to create ample opportunities for the industry.
“The growth in the global pneumonia vaccine market is due to the increase in the prevalence of pneumonia across the globe and the rise in government focus on immunization programs for pneumonia. Furthermore, the introduction of novel pneumococcal vaccines into the market is expected to boost the growth of the global pneumonia vaccine market,” says Onkar Sumant, Assistant Manager, Healthcare at Allied Market Research.
The report offers detailed segmentation of the global pneumonia vaccine market based on the vaccine type, product type, sector, and region.
Based on type, the pneumococcal conjugate vaccine (PCV) segment held the largest market share in 2017, holding more than half of the global market. In addition, the same region is expected to maintain its dominance during the forecast period.
Based on the Prevnar 13 segment held the major market share in 2017. In addition, the same segment is expected to dominate the market throughout the forecast period.
Based on sector, the private sector segment held the largest market share in 2017. In addition, the same segment is expected to dominate the market during the forecast period.
Based on the distribution channel, the distribution partner companies segment held the dominating market share in 2017. In addition, the same segment is expected to maintain its dominance during the forecast period.
Based on region, the market across North America held the largest market share in 2017, holding nearly three-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 6.6% during the forecast period.
The key players analyzed in the global pneumonia vaccine market report include Glaxosmithkline plc., LG Chem Ltd., Merck & Co., Inc., Panacea Biotec Limited, Pfizer Inc., Pnuvax Incorporated, Serum Institute of India Pvt. Ltd., Shenzhen Kangtai Biological Products Co., Ltd. (Beijing Minhai Biotechnology Corporation Limited), SK Bioscience and Walvax Biotechnology Co., Ltd.
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