February 28, 2024

Expanding Investment In Vaccine Development To Drive The Growth Of Bacterial Vaccines Market

Market Overview:

Bacterial vaccines help develop immunity against bacterial diseases such as diphtheria, tetanus, pertussis, pneumonia, and meningitis. These vaccines are made from weakened or killed forms of bacteria that cause diseases. Once administered, the body recognizes these foreign bacteria and produces antibodies against the disease-causing bacteria. In the event of future infection, the immune system can quickly produce antibodies to fight off the disease-causing bacteria. Bacterial vaccines provide direct protection against potentially fatal bacterial diseases and indirectly protect communities through herd immunity. With rising incidences of bacterial infections across the globe, bacterial vaccines play a crucial role in saving lives and reducing healthcare burden.

Market key trends:

One of the key trends in the bacterial vaccines market is increasing investment in R&D for novel vaccine candidates. Major pharmaceutical players are investing heavily in vaccine R&D to develop newer and improved vaccines against bacterial diseases. For instance, GlaxoSmithKline and Pfizer are collaborating to develop potential vaccines against Streptococcus pneumoniae, which causes pneumonia. Similarly, other players like Novavax and Emergent Biosolutions are developing vaccines targeting streptococcal infections. Rising government funding for vaccine research and high disease burden of certain bacterial infections are fueling investments in development of new bacterial vaccines. Additionally, bacterial vaccines market is witnessing increased focus on combination vaccines to provide protection against multiple bacterial diseases with a single dose.

Porter’s Analysis

Threat of new entrants: Low costs of production and distribution are entry barriers in this market. Regulatory requirements for quality standards also make it difficult for new players to enter.

Bargaining power of buyers: Large retailers have significant bargaining power over vaccine manufacturers. However, need for vaccination restricts switching to alternatives.

Bargaining power of suppliers: Suppliers of raw materials and contract manufacturing organizations have moderate bargaining power due to availability of substitutes and established supply relationships of major players.

Threat of new substitutes: No vaccine substitutes currently available for most bacterial diseases. Emergence of new vaccine technologies poses a mild threat.

Competitive rivalry: Presence of major multinational players intensifies competitive rivalry. Large R&D investments and regulatory requirements create high barriers to shift existing market shares.

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 focus on immunization programs globally. The market size for 2023 is estimated to reach US$ 23.77 Bn.

Regional analysis: North America dominates the bacterial vaccines market currently, owing to high awareness and implementation of vaccination programs in the region. Asia Pacific is expected to witness fastest growth over the forecast period supported by rising healthcare expenditures, large population base and economic growth in various countries.

Key players: Key players operating in the bacterial vaccines market include 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., and Valneva SE.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it