Europe Pneumococcal Vaccine Market Size, Share, Trends, Industry Analysis Report: By Type (Pneumococcal Conjugate Vaccine and Pneumococcal Polysaccharide Vaccine), Product, End User, and Country (France, Germany, UK, Italy, Netherlands, Spain, and Russia) – Market Forecast, 2024–2032
- Published Date:Oct-2024
- Pages: 119
- Format: PDF
- Report ID: PM5078
- Base Year: 2023
- Historical Data: 2019-2022
Europe Pneumococcal Vaccine Market Outlook
The Europe pneumococcal vaccine market size was valued at USD 1.8 billion in 2023. The market is anticipated to grow from USD 1.9 billion in 2024 to USD 2.9 billion by 2032, exhibiting a CAGR of 5.8% during 2024–2032.
Europe Pneumococcal Vaccine Market Overview
The growing prevalence of pneumonia drives the Europe pneumococcal vaccine market growth. According to a published report, Europe reports 230,000 deaths each year caused by pneumonia. Governments and health organizations in the region are implementing stronger vaccination programs and public health campaigns to promote pneumococcal vaccination as a preventive measure against pneumonia, thereby driving demand for pneumococcal vaccines.
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The growing R&D for developing novel vaccines is estimated to propel the Europe pneumococcal vaccine market. Innovations such as conjugate vaccines or combination vaccines that protect against multiple pathogens drive demand, as healthcare providers prefer these vaccines for wider protection. For instance, in April 2023, Pfizer, a biopharmaceutical company that develops, manufactures, and distributes medicines, vaccines, and consumer health care products, received FDA approval for PREVNAR 20, a 20-valent pneumococcal conjugate vaccine, for preventing invasive pneumococcal disease in infants and children aged six weeks to 17 years.
Europe Pneumococcal Vaccine Market Opportunities and Drivers
Collaboration Between Public and Private Sectors
The collaboration between the public and private sectors expanding vaccine distribution networks, creates an immense opportunity in the market during the forecast period. Partnerships with nongovernmental organizations (NGOs) and healthcare providers facilitate outreach programs and educational initiatives, ensuring that more individuals understand the importance of pneumococcal vaccination. This collaborative approach enhances overall public health and drives demand for pneumococcal vaccines.
Growing Investments in Product Development
The growing investments in product development led to the creation of more effective vaccines that target a broader range of pneumococcal strains. For instance, in June 2023, Blackstone invested USD 140 million in the Vaxcyte Royalties, a subsidiary of Sutro Biopharma, which is to drive advancements in pneumococcal vaccine development. Improved efficacy directly influences healthcare providers' recommendations and patient willingness to get vaccinated, driving higher demand. Therefore, rising investments in product development propel the Europe pneumococcal vaccine market growth.
Europe Pneumococcal Vaccine Market Restraint
High Cost of Investments in Vaccine Development
The high development costs deter small and mid-size pharmaceutical companies from investing in new vaccines or improvements to existing ones. This slows down the introduction of more effective or broader-spectrum vaccines, leading to an inadequate supply of pneumococcal vaccines. According to the Centers for Disease Control and Prevention (CDC), 0.6% of people expressed concern about the inadequate supply of pneumococcal vaccine in 2023. All these factors hinder the Europe pneumococcal vaccine market growth.
Report Segmentation
The Europe pneumococcal vaccine market is primarily segmented on the basis of type, product, end user, and region.
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By Type |
By Product |
By End User |
By Country |
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Europe Pneumococcal Vaccine Market Breakdown – By Type Analysis
Pneumococcal Conjugate Vaccines Segment Led Market in 2023
Based on type, the Europe pneumococcal vaccine market is bifurcated into pneumococcal conjugate vaccine and pneumococcal polysaccharide vaccine. The pneumococcal conjugate vaccines dominated the market in 2023 due to their effectiveness in preventing a wide range of pneumococcal diseases, particularly in young children and vulnerable populations. The high immunogenicity of PCVs and their ability to induce herd immunity played a significant role in their widespread adoption. Governments and health organizations increasingly recommended PCVs as part of routine immunization schedules, further boosting their demand. Additionally, the introduction of new PCV formulations that target a wide range of serotypes has attracted interest from healthcare providers, leading to increased vaccination rates and greater market share.
The pneumococcal polysaccharide vaccine segment is estimated to grow at a robust pace in the coming years, owing to the increasing healthcare professionals' recommendations for PPVs. PPVs offer a cost-effective solution for older adults and immunocompromised individuals who may not respond optimally to conjugate vaccines, leading to their increased recommendation by health authorities. Additionally, ongoing research highlights the importance of PPVs in combating emerging serotypes, further fueling preference in their use.
Europe Pneumococcal Vaccine Market Breakdown – End User Analysis
Public Sector Segment Accounted for Larger Market Share in 2023
In terms of end user, the European pneumococcal vaccine market is bifurcated into public sector and private sector. The public sector segment accounted for a larger market share in 2023 due to the growing government initiatives and national vaccination programs to prioritize public health. Additionally, funding from international health organizations and initiatives aimed at combating pneumonia boosted public sector efforts, further increasing the demand for pneumococcal vaccines.
The private sector segment is projected to register a significant CAGR during the forecast period owing to the rising private health insurance schemes and increasing investments in private healthcare sector. Pharmaceutical companies are investing in marketing and educating to raise awareness about the importance of pneumococcal vaccination, particularly in high-risk groups. This helps the private sector capture a larger share of the market, addressing the growing demand for effective pneumococcal prevention strategies.
Country Insights
UK Held Largest Share of Europe Pneumococcal Vaccine Market in 2023
The UK held the dominant share in the European pneumococcal vaccine market in 2023. This is mainly attributable to the increasing incidence of pneumonia and meningitis. According to UK government statistics, more than 5,000 invasive pneumococcal disease cases are estimated to be registered on an annual basis in England. Furthermore, ongoing research and potential advancements in vaccine formulations enhance the UK's dominant market share.
The pneumococcal vaccine market in Germany is expected to grow at a robust pace in the coming years, owing to its robust healthcare infrastructure and comprehensive vaccination programs. The country's strong emphasis on preventive healthcare and efficient distribution networks facilitated high vaccination rates. Germany’s public health policies prioritize pneumococcal vaccination, especially among vulnerable populations such as children and older people. Additionally, the integration of pneumococcal vaccines into routine immunization schedules ensured widespread coverage, contributing significantly to the market’s growth.
Strategic Initiatives by Market Players to Drive Competition
The Europe pneumococcal vaccine market is moderately consolidated. The growing research investments by the key players to propel the development of effective therapeutics and vaccinations are likely to drive new pneumococcal vaccine innovations in the market. Additionally, rising acquisitions and collaborations to enhance their brand outreach are expanding the pneumococcal vaccine market in Europe. For instance, in August 2022, GSK announced that it had completed the acquisition of Affinivax, Inc., a biotechnological company, to strengthen its vaccination and medication portfolio.
Major Players Operating in European Pneumococcal Vaccine Market
- Astellas Pharma Inc
- CSL Ltd
- GSK plc
- Merck & Co. Inc
- Panacea Biotech Ltd
- GPN Vaccines
- SK Bioscience
- Pfizer Inc.
- Sanofi S.A
- Serum Life Sciences Ltd
- Talley Group Ltd
- Walvax Biotechnology Co. Ltd
Recent Developments in Industry
- In June 2023, SK Bioscience announced the positive results of its phase II clinical trials associated with the 21-Valent pneumococcal conjugate vaccine candidate, GBP410, which was developed in partnership with Sanofi. They are expected to start Phase III trials in H1 2024.
- In November 2023, GPN Vaccines extended its partnership with BioCina, a contract development and manufacturing organization, to boost the manufacturing of vaccines for meningitis, pneumonia, and febrile bacteremia.
- In November 2022, Pfizer announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use shared a positive opinion about its 20-valent pneumococcal conjugate vaccine.
Report Coverage
The Europe pneumococcal vaccine market report emphasizes key regions across the globe to provide a better understanding of the product to the users. Also, the report provides market insights into recent developments and trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers an in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides a detailed analysis of the market while focusing on various key aspects such as competitive analysis, type, product, end user, and their futuristic opportunities.
Europe Pneumococcal Vaccine Market Report Scope
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Report Attributes |
Details |
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Market Size Value in 2024 |
USD 1.9 billion |
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Revenue Forecast in 2032 |
USD 2.9 billion |
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CAGR |
5.7% from 2024 to 2032 |
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Base Year |
2023 |
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Historical Data |
2019–2022 |
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Forecast Period |
2024–2032 |
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Quantitative Units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
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Regional Scope |
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Competitive Landscape |
Europe Pneumococcal Vaccine Industry Trends Analysis (2023) Company Profiles/Industry participants profiling includes company overview, financial information, product/service benchmarking, and recent developments |
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Report Format |
PDF + Excel |
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Customization |
Report customization as per your requirements with respect to countries and segmentation. |
FAQ's
The Europe pneumococcal vaccine market size was valued at USD 1.8 billion in 2023 and is projected to grow to USD 2.9 billion by 2032.
The market is projected to register a CAGR of 5.7 % during the forecast period.
UK held the largest share of the market in 2023.
Astellas Pharma Inc., CSL Ltd, GSK Plc, Merck & Co. Inc., Panacea Biotech Ltd, GPN Vaccines, SK Bioscience, Pfizer Inc., Sanofi S.A., Serum Life Sciences Ltd, Talley Group Ltd, and Walvax Biotechnology Co. Ltd. are among the key players in the market.
The pneumococcal polysaccharide vaccine segment is projected for significant growth in the market during the forecast period.
The public sector segment dominated the market in 2023
