Global Pneumovax 23 Market Outlook 2025-2034: Growth Drivers, Share, And Trends

The Business Research Company’s Pneumovax 23 Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, February 6, 2025 /EINPresswire.com/ -- What Does the Pneumovax 23 Market Size Indicate?
The Pneumovax 23 market has observed a growth rate of XX HCAGR in recent years and is expected to evolve from $XX million in 2024 to $XX million in 2025, signifying a compound annual growth rate CAGR of XX%. The robust growth in the historic period is attributed to an increase in government vaccination programs, a rising prevalence of pneumococcal infections and chronic conditions, an increment in healthcare expenditure, and a heightened focus on global immunization initiatives.

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How Does the Pneumovax 23 Market Look in the Future?
Taking a peek into the future, the Pneumovax 23 market is predicted to grow exponentially in the next few years, reaching $XX million in 2029 at a compound annual growth rate CAGR of XX%. This remarkable growth in the forecast period is due to a combination of factors such as growing urbanization, a rising number of aging populations, increased prevalence of co-morbidities, more investments in healthcare infrastructure, and the increasing use of digital health platforms.

What Main Driver Can Propel the Growth of the Pneumovax 23 Market?
A key catalyst that is expected to fuel the growth of the Pneumovax 23 market is the increasing incidence of pneumococcal diseases. These infections, caused by the bacterium Streptococcus pneumoniae, include various health issues from mild conditions such as sinusitis and otitis media to severe illnesses such as pneumonia and meningitis. Factors contributing to this rise include reduced vaccination coverage during the COVID-19 pandemic, increased risk among individuals with chronic health conditions, and the resurgence of respiratory infections after the easing of social restrictions.

Pneumovax 23, by offering immunization against 23 strains of Streptococcus pneumoniae, helps in reducing the risk of infections such as pneumonia, meningitis, and bacteremia. This is corroborated by data from the Office for National Statistics, which highlighted that in December 2022, influenza and pneumonia were the primary contributors to excess deaths in England, with 574 extra deaths 26.2% above the typical rate. Therefore, the rising incidence of pneumococcal diseases worldwide is expected to drive the growth of the market.

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Who Are the Major Players Operating in the Pneumovax 23 Market?
Major players operating in the market are Merck & Co. Inc. Merck Sharp & Dohme Corp.. With continuous advancements and investments under their belt, these players are playing a key role in the growth and expansion of the Pneumovax 23 market globally.

As for the market segmentation, the Pneumovax 23 market is classified by-
1 Formulation into Pneumococcal Polysaccharide Vaccine PPV and Pneumococcal Conjugate Vaccine PCV
2 Clinical Indication into pneumococcal Disease Prevention and
3 End User into Hospitals; Clinics; Ambulatory Surgical Centers; Pharmacies.

On the geographical front, North America reigned as the largest region in the Pneumovax 23 market in 2024. The global market spans across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa providing a broad landscape for growth and development.
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