Bacterial vaccines are intended to protect individuals against bacterial infections caused by pathogens like diphtheria, pertussis, tetanus, pneumococcal disease, meningococcal disease, and Haemophilus influenzae type b. The growing prevalence of these bacterial diseases is augmenting the demand for bacterial vaccines globally. Moreover, rising healthcare infrastructure development and increasing government initiatives to spread awareness about vaccination are propelling the global bacterial vaccines market growth.
The global Bacterial Vaccines Market is estimated to be valued at US$ 27.39 Mn in 2023 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 key trends:
One of the key trends fueling the bacterial vaccines market growth is the increasing adoption of multivalent bacterial vaccine products. Multivalent vaccines target multiple bacterial strains in a single vaccination and provide broader protection against related pathogens. They help minimize the number of required vaccination doses and simplify the vaccination schedule. This drives their preference over monovalent vaccines. Continuous research activities to develop multivalent vaccines for various diseases like meningococcal disease, diphtheria-tetanus-pertussis, and pneumococcal disease are expected to support the market growth over the forecast period. Advancements in conjugate vaccine technology used for developing multivalent bacterial vaccines have transformed the prophylactic market in recent years.
Segment Analysis
The global bacterial vaccines market is dominated by the monovalent bacterial vaccines segment. This is because the majority of medical conditions vaccinated using bacterial vaccines require only vaccination against a single pathogen, making monovalent vaccines sufficient. Some of the diseases for which monovalent vaccines are effective include tetanus, diphtheria, and pertussis.
Key Takeaways
The global Bacterial Vaccines Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. The global bacterial vaccines market is estimated to be valued at US$ 27.39 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031.
North America currently has the largest share in the global bacterial vaccines market primarily due to advanced healthcare facilities and widespread awareness about the benefits of vaccination. However, over the forecast period, Asia Pacific is anticipated to be the fastest growing regional market due to improving healthcare infrastructure and rising disposable incomes in countries such as China and India. Government initiatives and programs aimed at immunizing populations against communicable diseases will further aid market growth in Asia Pacific.
Key players operating in the bacterial vaccines market include 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. Mondi Group holds a significant share of the market owing to its robust portfolio of monovalent and multivalent bacterial vaccines to immunize against various communicable diseases.
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