Germany Pneumococcal Vaccines Market Rising in United States | Fortune Business Insights
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.
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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.
Pneumococcal
vaccines are used in vaccination against the bacteria Streptococcus pneumoniae.
Pneumonia is a severe and potentially life-threatening disease that is caused
by deadly bacteria. The pneumococcal vaccines are aimed in use for paediatrics
as well as adults for treating acute and serious infections that are
consequential to pneumonia. The severity of this disease has led to a higher
emphasis on early adoption and treatment. Increasing investments on the
research and development of newer vaccination options for the disease will bode
well for the growth of the market in the coming years. Advances in ongoing
clinical trials will bode well for the growth of the market. Increasing number
of regulatory approvals, coupled with the growing investments in product
R&D will aid the growth of the market in the forthcoming years.
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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