May 28, 2024
Bacterial Vaccines Market

Bacterial Vaccines Market Growth Is Driven By Growing R&D Investments For Novel Vaccines

Bacterial vaccines help in preventing infectious bacterial diseases such as tuberculosis, tetanus, diphtheria, pertussis, and pneumonia among others by boosting the body’s natural defenses against specific bacteria. These vaccines have revolutionized public health. Penicillin and antibiotics have helped control bacterial infections however their increasing resistance against several commonly used antibiotics necessitates the need for effective vaccines. Growing R&D investments by both public and private players to develop novel vaccines for bacterial strains which are becoming resistant to drugs is driving the demand for bacterial vaccines.

The global Bacterial Vaccines Market is estimated to be valued at US$ 27.39 Mn  in 2024 and is expected to exhibit a CAGR of 6.9%  over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends

One of the key trends in the bacterial vaccines market is the shift towards recombinant technology. Earlier, bacterial vaccines were traditionally prepared from killed or inactivated pathogens. However, recombinant technology helps in developing safer vaccines by removing toxic components of pathogens. For instance, vaccines for pertussis, diphtheria and tetanus currently utilize recombinant components. This switch to recombinant technology reduces costs of production and health risks associated with earlier techniques. This trend is expected to continue in the forecast period as well with more vaccines being developed using recombinant techniques.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the bacterial vaccines market is moderate. Significant capital investment is required to conduct research and development, obtain regulatory approvals, and set up manufacturing facilities.

Bargaining power of buyers: The bargaining power of buyers in the bacterial vaccines market is high. Buyers have several vaccine manufacturers to choose from, which provides them leverage to negotiate for better prices.

Bargaining power of suppliers: The bargaining power of suppliers in the bacterial vaccines market is moderate. Suppliers of key materials and components operate in a relatively concentrated market.

Threat of new substitutes: The threat of new substitutes in the bacterial vaccines market is low. There are limited alternative options available for disease prevention and immunization against bacterial infections.

Competitive rivalry: The competitive rivalry in the bacterial vaccines market is high due to the presence of several large and small players. Manufacturers compete on the basis of pricing, product variety, and quality.

Key Takeaways

The global Bacterial Vaccines Market Demand is expected to witness high growth. The global bacterial vaccines market is estimated to be valued at US$ 27.39 Mn  in 2024 and is expected to exhibit a CAGR of 6.9%  over the forecast period 2024 to 2031.

North America is expected to dominate the global bacterial vaccines market during the forecast period. Rising immunization programs by governments in the region is driving market growth. Asia Pacific region is expected to be the fastest growing market for bacterial vaccines. Growing population, increasing healthcare spending, and rising awareness about immunization in developing countries such as India and China are supporting market growth in the region.

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. Key players are focusing on new product launches and geographical expansion to strengthen their market position.

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