by The conjugate vaccine market comprises vaccines that comprise bacterial polysaccharides conjugated chemically to proteins. These vaccines help elicit a T-cell dependent immune response and provide long lasting protection against invasive bacterial diseases. Conjugate vaccines aid in boosting immunogenicity and providing protection for infants who are too young to respond well to plain polysaccharide vaccines.
The global conjugate vaccine market is estimated to be valued at US$ 22741.91 Bn in 2024 and is expected to exhibit a CAGR of 26% over the forecast period from 2024 to 2031.
The Global conjugate vaccine market is driven by the increasing incidence of diseases such as pneumonia, meningitis and others. Additionally, technological advancements in vaccine development along with growing focus on immunization programs by governments worldwide are further propelling the market growth. However, high costs associated with conjugate vaccine production and storage requirements are some of the factors expected to hinder the market growth.
Key Takeaways
Key players operating in the conjugate vaccine market are RSA Security (DELL EMC), Carbon Black Inc., McAfee Corporation, Cisco Systems Inc., OpenText Corporation, FireEye Inc., CrowdStrike Inc., Digital Guardian, Broadcom Inc., Deep Instinct, and Cybereason Inc. These players are focusing on new product launches and strategic collaborations to strengthen their market position.
The growing demand for conjugate vaccines is attributed to increase in awareness regarding immunization and various government immunization programs worldwide. This has compelled manufacturers to increase their production capabilities to fulfil the rising demand.
The market is also witnessing expansion in terms of geographical presence with manufacturers exploring opportunities in emerging economies of Asia Pacific and Latin America. This is due to increasing healthcare investments and supportive government policies for immunization in these regions.
Market key trends
Technological advancements is one of the Conjugate Vaccine Market trends being observed in the Continuous efforts to introduce new and effective conjugate vaccines along with combination vaccines is helping reduce disease burden. For instance, recently a novel conjugate vaccine was launched in India to protect against five deadly diseases including pneumococcal disease in one shot for infants. Similarly, manufacturers are focusing on developing thermostable vaccines that do not require constant refrigeration, especially in low-resource settings. This eases distribution and uptake of vaccines globally.
Porter’s Analysis
Threat of new entrants: Vaccine development requires large capital investments and passing regulatory approvals which make entry difficult.
Bargaining power of buyers: Buyers have moderate power since there are few alternatives for certain diseases but suppliers have capabilities to develop new vaccines.
Bargaining power of suppliers: Major companies developing conjugate vaccines possess strong supply chain and R&D capabilities giving them bargaining power over buyers.
Threat of new substitutes: Threat is low as conjugate vaccines offer increased efficacy over traditional vaccines and medical alternatives are limited for certain diseases.
Competitive rivalry: Intense as major players continuously invest in R&D and compete to develop new conjugate vaccines and strengthen their product pipelines.
Geographical regions:
North America holds the major share of the global Conjugate Vaccine Market Regional Analysis due to increased adoption and availability of novel conjugate vaccines in the region. The US accounts for the largest market owing to rising research activities and availability of government and private funding.
Asia Pacific is expected to witness the fastest growth during the forecast period due to growing patient awareness, increasing healthcare expenditures, rising initiatives by market players and governments to immunize population in developing countries. Expanding pediatric population base and improving healthcare infrastructure further support the market growth in Asia Pacific.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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