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Pneumonia Vaccine Market is Poised to Receive Upswing Owing to The Rising Geriatric Population.

HYDERABAD, TELANGANA, INDIA, November 15, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that the Pneumonia Vaccine Market size was valued at $8,037 million in 2020, and is anticipated to grow at a CAGR of 5.2% during the forecast period 2021-2026. Pneumonia is a lung infection caused by bacterial organisms, viruses, or fungi that attacks the air sacs and fills them with fluid or pus, causing lung contamination in either or both lungs. Vaccines against pneumococcal disease help us stay healthy. There are two types of vaccines available for pneumonia: PCV13 and PPSV23. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/Pneumonia-Vaccine-Market-Research-506895

Key Takeaways:

This IndustryARC report on the Pneumonia Vaccine Market highlights the following areas -

1. The factors such as rise in aging population and increase in awareness regarding various pneumonia vaccines owing to rising prevalence of pneumococcal infections are amongst the major factor projected to impel growth of pneumonia vaccine market.

2. Additionally, factors such as introduction of novel pneumonia vaccine products coupled with improved government support are to create opportunities paving a way for the growth in the market during forecast period 2021-2026.

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Segmental Analysis:

Pneumonia Vaccine Market Segment Analysis - By Vaccine Type: The pneumococcal conjugate vaccine held the largest market on account of the fact that this vaccine is applicable for wide range of age groups such as from infants and children up to 5 years. Also, pneumococcal polysaccharide vaccine can be administered both intramuscularly and subcutaneously and is attributed to supplement the segment development.

Pneumonia Vaccine Market Segment Analysis - By Distribution Channel: The global rise in the number of non-governmental organizations is attributed to increasing in the number of purchases that are made and provided directly to the customers are anticipated to positively affect market growth during the forecast period 2021-2026. On the other hand, government authorities segment is projected to dominate over the forecast period 2021-2026 with a CAGR of 5.50%.

Pneumonia Vaccine Market Segment Analysis - By Geography: North America is the major region dominating the pneumonia vaccine market with a market share of 34.89% in the year 2020. This can be attributed to the fact that the presence of well-established infrastructure, key market players as well the presence of various non-governmental organizations, and increasing average life expectancy and the median age in the region.

Competitive Landscape:

The top 5 players in the Pneumonia Vaccine industry are -

1. Merck & Co., Inc.

2. Panacea Biotec Limited

3. Glaxosmithkline plc.

4. LG Chem Ltd.

5. Pfizer Inc.

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https://www.industryarc.com/Report/16292/therapeutic-vaccine-market.html

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