Pneumococcal Vaccines Market Industry Growth Outlook, Key Insights, and Forecast Report 2032

The pneumococcal vaccines market focuses on vaccines developed to protect against infections caused by Streptococcus pneumoniae, which can lead to serious illnesses such as pneumonia, meningitis, and sepsis. These vaccines are primarily categorized into pneumococcal conjugate vaccines (PCV) and pneumococcal polysaccharide vaccines (PPSV), targeting different age groups including infants, children, adults, and the elderly. Market growth is driven by the rising prevalence of pneumococcal infections, government-supported immunization programs, increasing awareness about preventive healthcare, and the introduction of advanced multivalent vaccines offering broader protection. North America currently dominates due to strong healthcare infrastructure and high vaccine coverage, while Asia-Pacific is expected to see the fastest growth as vaccination programs expand in emerging economies. Challenges include high vaccine costs in low-income regions, logistical barriers in distribution, and vaccine hesitancy in some populations.

The global pneumococcal vaccines market size was valued at USD 8.50 billion in 2024 and is projected to grow from USD 8.80 billion in 2025 to USD 12.87 billion by 2032, exhibiting a CAGR of 5.6% during the forecast period. North America dominated the pneumococcal vaccines market with a 56.35% share in 2024, driven by strong immunization programs, high awareness levels, and favorable government initiatives supporting vaccine uptake.

Top Companies in the Market

• GSK plc. (U.K.)

• Merck & Co., Inc. (U.S.)

• Abbott (U.S.)

• Sanofi (France)

• Pfizer (U.S.)

• Inventprise (U.S.)

• Vaxcyte (U.S.)

• Walvax Biotechnology Co., Ltd. (China)

• SK Bioscience (South Korea)

Key Industry Development

In June 2025, SK Bioscience, a biotechnology company from South Korea, expanded its L HOUSE production facility in Andong to support global supply of its 21-valent Pneumococcal Conjugate Vaccine (PCV) candidate, GBP410. The facility received official building use approval from the City of Andong.

Market Drivers & Restraints

Drivers

• Increasing prevalence of invasive pneumococcal diseases: Rising incidence of conditions caused by Streptococcus pneumoniae, especially in people with chronic health issues and immunodeficiencies, has led to elevated demand for preventive vaccination.

• Advancements in vaccine technology and awareness: Development of next-generation PCVs (including higher-valent PCVs) and growing awareness drive market expansion.

• Government policies and vaccination programs: National immunization programs, favorable regulatory frameworks, and initiatives to introduce PCVs in routine immunizations support market growth.

Restraints / Challenges

• Complex manufacturing processes: Conjugation of polysaccharide components to protein carriers, purification, serotype diversity, and ensuring stability present technical and cost challenges.

• Cold chain and storage limitations: Vaccines must be stored between 2°C and 8°C; in many lower- and middle-income regions, inadequate cold chain infrastructure leads to spoilage and reduced efficacy.

• Supply chain and access issues: Distribution obstacles, especially in remote and underserved regions, and vaccine availability constraints act as barriers.

Market Trends

One major trend is the increasing focus on adult vaccination programs. Governments and health bodies are expanding PCV recommendations for adults—especially those aged 65 and above or with underlying health issues—to reduce mortality and morbidity.

Segmentation Analysis

By Product Type

The market is segmented into PCV13, PCV15, PCV20, PCV21, PPSV23, and others. Among these, PCV20 holds a leading share, driven by its broader serotype coverage and several new product approvals. The PPSV23 segment is expected to grow steadily as it is often used in conjunction with conjugate vaccines to broaden protection.

By Age Group

The market is divided into pediatric and adult segments. The pediatric segment dominates currently, owing to high susceptibility of children to pneumococcal disease, and the large scale immunization programs targeting young children. The adult segment also shows stable growth, supported by increasing awareness and updated vaccine recommendations for older adults and those with chronic diseases.

By Distribution Channel

Distribution is through:

• Government suppliers: Expected to dominate, due to strategic collaborations to supply vaccines in remote and underserved regions.

• Hospital & retail pharmacies: Significant growth expected because of ease of access and expansion of vaccination services.

• Others: Emerging channels helping to support delivery where formal healthcare infrastructure is limited.

Regional Insights

• North America held the largest share in 2024 (USD 4.79 billion) and is expected to maintain dominance. The mature healthcare systems, strong R&D, and presence of key companies drive this leadership.

• Europe ranked second in revenue share in 2024. R&D and strong regulatory framework contribute to its position.

• Asia Pacific is projected to witness the highest CAGR over 2025-2032. Rising population, expanding vaccine research, increasing healthcare spend, and indigenous vaccine development in countries like China, India, Japan are key factors.

Explore the full research report with detailed insights and TOC:https://www.fortunebusinessinsights.com/pneumococcal-vaccines-market-113672 

Competitive Landscape

The pneumococcal vaccines market is semi-consolidated, with leading global players such as GSK plc., Merck & Co., Inc., and Sanofi holding substantial shares. Other prominent firms including Abbott, Pfizer, Inventprise, Vaxcyte, Walvax Biotechnology, and SK Bioscience

compete via product launches, regulatory approvals, partnerships, and geographic expansion.

Future Market Scope

Opportunities lie in development of next-generation PCVs that cover more serotypes, expanded immunization programs for adults, enhanced regulatory approvals, and better cold chain infrastructure. Expanding market access in emerging economies through local manufacturing and government-led vaccination initiatives also offer strong potential.

Conclusion

Overall, the pneumococcal vaccines market is set for consistent growth from 2025 through 2032. Driven by disease prevalence, innovation, and public health policy, the market shows promising trajectories—especially in PCV20 products, pediatric vaccination, and emerging regions. Challenges around manufacturing complexity and logistics persist, but concerted efforts could unlock significant health impact globally.

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