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The global Bacterial Vaccines Market is estimated to be valued at US$ 23.77 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Bacterial vaccines help prevent several life-threatening bacterial diseases such as tetanus, diphtheria, pertussis, pneumococcal disease, meningococcal disease etc. These vaccines induce immunity by causing the body to produce antibodies against toxins, harmful bacterial proteins or even the bacteria itself. Bacterial vaccines offer a cost-effective public health intervention to reduce the burden of bacterial diseases worldwide. Market key trends: One of the key trends driving the growth of the bacterial vaccines market is increasing awareness about pneumococcal disease. Pneumococcal disease is a serious illness caused by Streptococcus pneumoniae bacteria. It can lead to invasive infections like bacteremia and meningitis as well as pneumonia. According to WHO, pneumococcal disease is responsible for over 500,000 deaths among children under 5 years of age each year. Thus, immunization against pneumococcal infection is a priority public health intervention globally. Pneumococcal conjugate vaccines (PCVs) that provide protection from several serotypes of S. pneumoniae have gained widespread acceptance to combat pneumococcal disease and reduce antibiotic resistance. This has significantly boosted the demand for bacterial vaccines market over the past few years. Porter's Analysis Threat of new entrants: The bacterial vaccines market faces moderate threat of new entrants due to the significant capital investments required for research and development. Bargaining power of buyers: The bargaining power of buyers is moderate since there are established players in the market providing a wide range of bacterial vaccines. Bargaining power of suppliers: Suppliers have moderate bargaining power as the key ingredients and raw materials require specialized expertise and scale. Threat of new substitutes: The threat of new substitutes is low as bacterial vaccines address specific diseases with no close substitute. Competitive rivalry: High as major players compete on the basis of pricing, innovation, and brand image. SWOT Analysis Strengths: Established pipeline of vaccines, rising prevalence of diseases, and growing government support. Weaknesses: High R&D costs, regulatory delays in approval and commercialization, and vaccine hesitancy in certain regions. Opportunities: Expanding to emerging markets, collaborations for new product development, and growing demand for combination vaccines. Threats: Pricing pressures, patent expiries of blockbuster vaccines, and manufacturing and supply disruptions. Key Takeaways The Global Bacterial Vaccines Market Demand is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing government support for immunization programs in developing nations. The market size for 2023 is estimated at US$ 23.77 billion. Regional analysis: The Asia Pacific region is expected to witness fastest growth in the bacterial vaccines market owing to rising healthcare expenditure, large population base, and strengthening distribution networks in countries such as India and China. North America currently dominates the market with the U.S. accounting for the major share due to high adoption rates and availability of advanced treatment options. Key players: Key players operating in the bacterial vaccines market are GlaxoSmithKline plc, Pfizer Inc., Merck & Co. Inc., Sanofi Pasteur SA, Johnson & Johnson, Serum Institute of India Pvt. Ltd., Bharat Biotech International Limited, Biological E. Limited, Astellas Pharma Inc., Seqirus (CSL Limited), Mitsubishi Tanabe Pharma Corporation, Novavax Inc., Bavarian Nordic, Emergent BioSolutions Inc., Valneva SE. These major players continuously focus on product launches and collaborations to expand their geographical presence globally. Get more insights on this topic: https://www.marketwebjournal.com/bacterial-vaccines-market-market-size-share-analysis-growth/
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