Bacterial vaccines are medicinal products used to augment the body's adaptive immune system and provide active acquired immunity against specific bacteria or bacterial toxins. Wide availability of prophylactic vaccines has led to a decline in the incidence of numerous endemic bacterial infections. Bacterial vaccines provide protection against various diseases such as pneumonia, meningitis, diphtheria, tetanus, whooping cough, anthrax, plague and tuberculosis. 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 Opportunity:
Prevention of Communicable Diseases
The key opportunity driving the bacterial vaccines market growth is their potential to prevent the spread of communicable diseases. Bacterial infections are among the top causes of premature death worldwide. Vaccination is an effective primary prevention strategy against bacterial diseases. Widespread administration of vaccines for pneumonia, meningitis, and other bacterial infections can significantly reduce the incidence of outbreaks. This presents lucrative prospects for manufacturers in the bacterial vaccines market to curb the health burden of communicable illnesses through the development of novel and low-cost vaccines. Increased immunization can hence bolster public health by limiting the transmission of vaccine-preventable bacterial diseases.
Porter's Analysis
Threat of new entrants: The bacterial vaccine market has moderate threat of new entrants due to presence of stringent regulations and approval procedures by regulatory authorities like FDA. Considerable R&D investment and development time also pose barrier for new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative treatment options for bacterial infections. However, patented and innovative vaccines reduce substitutability resulting in less buyer power.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitutes and less switching costs. Established manufacturers can manufacture active ingredients in-house or have credible alternates.
Threat of new substitutes: Threat of new substitutes is low to moderate as development and approval of new novel vaccines take significant time and investment. However, biosimilars pose threat to established vaccines.
Competitive rivalry: The global bacterial vaccines market witnesses high competition among major manufacturers to gain maximum market share through novel development and strategic collaborations.
SWOT Analysis
Strength: Rising prevalence of bacterial infections, increasing immunization programs.
Weakness: High R&D costs, stringent regulations.
Opportunity: Growth opportunities in emerging markets, pipeline products.
Threats: Biosimilar competition, pricing pressures.
Key Takeaways
The Global Bacterial Vaccines Market Size is expected to witness high growth.
Regional analysis: North America dominating the market followed by Europe owing to high awareness and healthcare expenditure. Asia Pacific is the fastest growing market due to large population base 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. Major players focus on partnerships for distribution and product development to strengthen market position.
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