Pneumococcal Vaccine Market Opportunities and Strategies to 2034

This report describes and explains the pneumococcal vaccine market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global pneumococcal vaccine market reached a value of nearly $7.92 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.17% since 2019. The market is expected to grow from $7.92 billion in 2024 to $10.04 billion in 2029 at a rate of 4.84%. The market is then expected to grow at a CAGR of 4.33% from 2029 and reach $12.41 billion in 2034.

Growth in the historic period resulted from the increasing prevalence of pneumococcal contamination, rising healthcare spending, growing awareness of preventive healthcare and increased government immunization programs. Factors that negatively affected growth in the historic period was stringent regulatory requirements and vaccine hesitancy and misinformation.

Going forward, the growing aging population, rising prevalence of chronic respiratory diseases, rising need for pediatric vaccination and growing public health campaigns will drive the growth. Factor that could hinder the growth of the pneumococcal vaccine market in the future include cold chain and storage challenge high cost of vaccines and impact of trade war and tariff.

North America was the largest region in the pneumococcal vaccine market, accounting for 52.01% or $4.12 billion of the total in 2024. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the pneumococcal vaccine market will be Asia-Pacific and South America where growth will be at CAGRs of 6.31% and 5.71% respectively. These will be followed by Eastern Europe and Middle East where the markets are expected to grow at CAGRs of 5.35% and 4.57% respectively.

The global pneumococcal vaccines market is highly concentrated, with large players operating in the market. The top 6 competitors in the market made up 100% of the total market in 2023. Pfizer Inc. was the largest competitor with 82.01% share of the market, followed by Merck & Co. Inc. with 5.20%, GlaxoSmithKline plc with 4.68%, Serum Institute of India Pvt. Ltd. with 3.85%, Walvax Biotechnology Co. Ltd. with 2.51% and Biological E. Limited with 1.75%.

The pneumococcal vaccine market is segmented by product type into pneumococcal conjugate vaccine (PCVs) and pneumococcal polysaccharide vaccine (PPV). The pneumococcal conjugate vaccine (PCVs) market was the largest segment of the pneumococcal vaccine market segmented by product type, accounting for 96.68% or $7.66 billion of the total in 2024. Going forward, the pneumococcal conjugate vaccine (PCVs) segment is expected to be the fastest growing segment in the pneumococcal vaccine market segmented by product type, at a CAGR of 5.15% during 2024-2029.

The pneumococcal vaccine market is segmented by route of administration into intramuscular and subcutaneous. The intramuscular market was the largest segment of the pneumococcal vaccine market segmented by route of administration, accounting for 99.17% or $7.86 billion of the total in 2024. Going forward, the intramuscular segment is expected to be the fastest growing segment in the pneumococcal vaccine market segmented by route of administration, at a CAGR of 4.92% during 2024-2029.

The pneumococcal vaccine market is segmented by distribution channel into pharmacies, community clinics, public health agencies and other distribution channels. The public health agencies market was the largest segment of the pneumococcal vaccine market segmented by distribution channel, accounting for 47.33% or $3.75 billion of the total in 2024. Going forward, the public health agencies segment is expected to be the fastest growing segment in the pneumococcal vaccine market segmented by distribution channel, at a CAGR of 6.68% during 2024-2029.

The pneumococcal vaccine market is segmented by end user into pediatrics and adults. The pediatrics market was the largest segment of the pneumococcal vaccine market segmented by end user, accounting for 77.70% or $6.15 billion of the total in 2024. Going forward, the adults segment is expected to be the fastest growing segment in the pneumococcal vaccine market segmented by end user, at a CAGR of 6.74% during 2024-2029.

The top opportunities in the pneumococcal vaccine market segmented by product type will arise in the pneumococcal conjugate vaccine (PCVs) segment, which will gain $2.18 billion of global annual sales by 2029. The top opportunities in the pneumococcal vaccine market segmented by route of administration will arise in the intramuscular segment, which will gain $2.13 billion of global annual sales by 2029. The top opportunities in the pneumococcal vaccine market segmented by distribution channel will arise in the public health agencies segment, which will gain $1.43 billion of global annual sales by 2029. The top opportunities in the pneumococcal vaccine market segmented by end user will arise in the pediatrics segment, which will gain $1.43 billion of global annual sales by 2029. The pneumococcal vaccine market size will gain the most in the USA at $983.14 million.

Market-trend-based strategies for the pneumococcal vaccine market include innovative pneumococcal vaccine enhances pediatric immunization by targeting local disease burden, innovative conjugate vaccines aim to bridge global immunization gaps, strategic collaborations accelerate pneumococcal vaccine access, advancing adult immunization through serotype-specific vaccines, new investment wave supports scalable pneumococcal immunization and advances in conjugate vaccine technology improve adult immunity.

Player-adopted strategies in the pneumococcal vaccine market include focus on strategy aims to expand its operations through strategic partnerships and expanding its business capabilities through vaccine approvals.

To take advantage of the opportunities, the analyst recommends the pneumococcal vaccine market companies to focus on region-specific innovation to drive market penetration, focus on expanding serotype coverage to address regional disease burdens, focus on strengthening product pipelines through targeted R&D investment, focus on adult-specific vaccine development to expand market coverage, focus on advancing conjugate vaccines to improve protection across age groups, focus on expanding pneumococcal conjugate vaccine offerings, focus on scaling intramuscular vaccine delivery, expand in emerging markets, focus on strategic partnerships to strengthen market position and accelerate access, focus on competitive and value-based pricing to maximize market penetration, focus on targeted digital and traditional promotion channels, focus on partnerships and healthcare provider training, focus on strengthening public health agency partnerships and focus on capturing growth in the adult segment.