The “Germany pneumococcal vaccines” market size is projected to reach USD 200.9 million by the year 2026. The market will benefit from the increasing number of favorable policies across the region. According to a report published by Fortune Business Insights™, titled “Germany Pneumococcal Vaccines Market Size, Share & Industry Analysis, By Product Type (PCV10, PCV13, and PPSV23), By End User (Hospitals, Clinics, and Others) and Region Forecast, 2019-2026,” the market size was USD 170.0 million in 2018 and will exhibit a CAGR of 2.1% during the forecast period, 2019-2026. Pneumococcal vaccines are used to prevent pneumonia in paediatrics and adults.
The severity of the disease has led to a wider adoption for the product across the world. The demand for pneumococcal vaccines has risen dramatically in the recent years due to the growing emphasis on early detection and treatment of the disease. The growing demand for this product will have a direct impact on the growth of the regional markets in Germany. Variations in product offerings and availability of different vaccines for different disease types will contribute to the growth of the market in the coming years. The report encompasses several factors that have contributed to the growth of the market in recent years. It also discusses a few of the factors that have restrained market growth. Besides this, the report highlights a few of the leading products, major companies, and major industry developments of recent times. The market is segmented on the basis of several criteria, including product types, end users, and regional demographics.
The competitive landscape scenario has been discussed in detail. The report provides forecast values for the market for the period of 2019-2026. Factual figures have been obtained through trusted sources. Predictions have been made through interviews and opinions of experienced market research professional.
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Increasing Awareness Regarding the Severity of this Disease Will Aid Growth
The severity of pneumonia has led to a high awareness among users across the world. Pneumonia can possess several side effects. Unattended pneumonia can also cause death. The increasing prevalence of pneumonia will open up a huge potential for the growth of the market in Germany. As per recent statistics, almost 12% of the patients affected by pneumonia do not survive.
This, in turn, has led to a further rise in the demand for pneumococcal vaccines in the country. The presence of several renowned companies will emerge in favor of market growth. Contribution from government through initiatives and awareness programs will contribute to the growth of the market in this region. Recent advances in pipeline drugs will newer drugs. Furthermore, advances in phases of clinical trials of numerous drugs will contribute to the growth of the market in the forthcoming years.
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Nordrhein-Westfalen to Emerge as the Leading Region; Huge Patient Pool for Pneumonia Will Aid Growth
The market is segmented on the basis of regional demographics into several regions across Germany into Baden-Württemberg, Bayern, Nordrhein-Westfalen, Hessen, Niedersachsen, Sachsen, and Berlin. The market in Nordrhein-Westfalen is likely to hold the highest Germany pneumococcal vaccines market share in the coming years. The growing prevalence of pneumonia in this region will provide the platforms for the growth of the regional market. Besides Nordrhein-Westfalen, the market has been analysed across several other regions in the country.
A few of the leading companies that are operating in the Germany pneumococcal vaccines market are:
- Merck & Co. Inc.
- GlaxoSmithKline plc
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