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Bacterial vaccines help prevent the spread of infectious diseases caused by bacteria while boosting immunity. These vaccines contain killed or weakened versions of bacteria to help the body develop immunity against them. The need for bacterial vaccines arises due to the rising threat of various bacterial infections.
The global Bacterial Vaccines Market is estimated to be valued at US$ 23.77 billion in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Development of new vaccines: Many new bacterial vaccines are currently under development targeting various disease indications. Major companies are investing heavily in R&D to develop novel vaccines with improved efficacy and safety profiles. For instance, Pfizer and Johnson & Johnson are developing pneumococcal conjugate vaccines targeting more serotypes of bacteria. Similarly, GlaxoSmithKline and Merck are working on vaccines against staphylococcus aureus and clostridium difficile bacteria respectively. Such ongoing research and pipeline vaccines are expected to drive the bacterial vaccines market growth over the forecast period.
SWOT Analysis
Strength: Bacterial vaccines have high efficacy in preventing infectious diseases. Their effectiveness has been proven over decades of clinical use.
Weakness: Development of new bacterial vaccines requires extensive research and clinical trials which makes them highly capital intensive to develop.
Opportunity: Growing infectious disease burden globally due to factors such as antimicrobial resistance presents an opportunity to develop new vaccines.
Threats: Safety concerns over some vaccines and perception of side effects poses challenges in consumer acceptance.
Key Takeaways
Global Bacterial Vaccines Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: North America region currently dominates the market and is expected to continue its dominance owing to high healthcare spending and presence of major players. Asia Pacific is poised to be the fastest growing market due to improving access to healthcare services, rising disease awareness and increasing government focus on immunization programs.
Key players operating in the bacterial vaccines market are 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. These key players are focused on new product launches, collaborations and acquisitions to strengthen their market position. For instance, in 2023 Mondi Group launched a new range of sustainable and recyclable barrier materials to cater to growing demand from pharmaceutical packaging industry.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
