Bacterial vaccines help prevent life-threatening bacterial infections through stimulating the immune system to develop protection against future infections. Vaccines target specific bacteria and aid in production of antibodies that recognize and destroy bacteria before or as they enter the body. The global bacterial vaccines market is driven by increasing prevalence of invasive bacterial diseases and related complications. Bacterial infections like pneumonia, meningitis, and bloodstream infections are among top causes of mortality worldwide. Bacterial vaccines help considerably curb these deaths by providing active immunization.
The global Bacterial Vaccines Market is estimated to be valued at US$ 23.77 Bn in 2023 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:
One of the key trends witnessed in the bacterial vaccines market Size And Trends is the advent of combination vaccines. Earlier, separate vaccines were available to treat or prevent different bacterial infections. However, combination vaccines target multiple bacterial strains in a single shot. This significantly reduces the number of injections needed. Combination vaccines also improve patient compliance as they require fewer doctor visits for vaccination. Major companies are focused on developing novel combination vaccines with expanded strain coverage and aim to enhance market access through favorable pricing and governmental reimbursement schemes.
Porter’s Analysis
Threat of new entrants: New entrants face high costs for R&D, clinical trials, and regulatory approvals to enter the bacterial vaccines market. Additionally, established players have strong brand recognition and customer loyalty.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative treatment options and presence of many established players. However, rising prevalence of bacterial infections increases buyers’ dependency on bacterial vaccines.
Bargaining power of suppliers: Suppliers of raw materials and equipment have low to moderate bargaining power as there are numerous suppliers and requirements are standardized. Supply shortages can impact production though.
Threat of new substitutes: Threat of substitutes is low as there are limited treatment options for bacterial diseases apart from antibiotics and vaccines. However, development of new drug classes poses a threat.
Competitive rivalry: The bacterial vaccines market sees intense competition due to presence of many global and local players. Players compete based on vaccine pricing, portfolio expansion, and vaccine effectiveness.
Key Takeaways
The Global Bacterial Vaccines Market Size is expected to witness high growth over the forecast period supported by increasing prevalence of bacterial infections, growing awareness about disease prevention, and continuous product launches.
Regional analysis – North America dominates the global bacterial vaccines market and is expected to continue its lead over the forecast period. This can be attributed to rising healthcare expenditure, availability of advanced healthcare infrastructure, and presence of major players in the region. Asia Pacific is anticipated to witness fastest growth supported by increasing healthcare investments, growing middle-class population, expanding vaccination programs, and improving access to healthcare.
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. Players are focused on portfolio expansion through acquisitions and licensing agreements. They are also investing in R&D of novel and combination bacterial vaccines to strengthen their product offerings.
About Author - Alice Mutum
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn