August 08, 2022 09:30 ET | Source: CMI CMI

Seattle, Aug. 08, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global pneumococcal vaccines market is estimated to be valued at US$ 6,615.94 million in 2022 and is expected to exhibit a CAGR of 4.4% during the forecast period (2022-2030).

Key Trends and Analysis of the Global Pneumococcal Vaccines Market:

Major players operating in market are focusing on adopting strategies such as product approvals, which is expected to drive the market growth over the forecast period. For instance, in July 2020, the Drug Controller General of India (DCGI) approved indigenous pneumococcal polysaccharide conjugate vaccine of Serum Institute of India Pvt. Ltd. This vaccine is indicated against pneumonia.

Furthermore, in June 2018, Sutrovax, a biopharmaceutical company, successfully raised US$ 85 million Series C financing to advance the company’s pneumococcal conjugate vaccine (PCV) candidate through mid-stage clinical development. Moreover, Sutrovax, in partnership with the Lonza Group, a contract manufacturer of complex biologics, enable strong process and conjugation development of pneumococcal conjugate vaccine, along with microbial manufacturing scale-up for drug substance at Lonza’s Visp, Switzerland site.

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Market players are focused on growth strategies such as signing distribution agreements with government of respective country. This in turn is expected to drive growth of the Global Pneumococcal Vaccines Market. For instance, in June 2018, Sutrovax successfully raised US$ 85 million Series C financing to advance the company’s pneumococcal conjugate vaccine (PCV) candidate through mid-stage clinical development. Moreover, Sutrovax, in partnership with the Lonza Group, enable strong process and conjugation development of pneumococcal conjugate vaccine, along with microbial manufacturing scale-up for drug substance at Lonza’s Visp, Switzerland, site

Among Vaccine type, PCV13 is expected to hold a dominant position in the Global Pneumococcal Vaccines Market over the forecast period, owing to increase in manufacturing plants for the production of Pneumococcal Vaccines. For instance, In April, CanSino Biologics Inc. (CanSinoBIO), a China based biopharmaceutical company initiated Phase III clinical trial study of its new candidate 13-Valent Pneumococcal Polysaccharide Conjugate Vaccine (PCV13) to assess the immunogenicity and safety of PCV13 in healthy people of ages 6 weeks and above. This study is expected to complete by August 2022.

Among region, North America is expected to hold a dominant position in the Global Pneumococcal Vaccines Market over the forecast period, owing to increasing number of inorganic growth strategies by key market players in the region. For instance, In November, Centre for Process Innovation Limited, a U.K.-based technology company, entered into partnership with ImmunoBiology Ltd., a U.K.-based biotechnology company to manufacture low-cost, heat-stabilized pneumococcal vaccine formulation to increase vaccine accessibility in low and middle income countries

Key players covered as a part of this study include, Pfizer, Inc., Merck & Co. Inc., and GlaxoSmithKline plc.

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