Pneumonia Vaccine Market Experiencing Continued Growth

Based in Canada, PnuVax is involved in the research, development, and production of biopharmaceuticals. PnuVax is a leader in the pneumonia vaccine market, which is experiencing steady and consistent growth that is projected to continue for at least half a decade.

According to a report released in May 2019, the global pneumonia vaccine market can expect to grow 5 percent a year up until 2025, when it is expected to reach a market value of over $10.2 billion. One factor that contributes to this growth is the push to vaccinate by governments around the world. However, because the development of pneumonia vaccines takes so long and can be pricey, the market is still restricted.

One way that pharmaceutical companies can combat the downsides of vaccine production is by joining the Advance Market Commitment (AMC) for pneumococcal vaccines. This arrangement brings governments and charitable foundations together with vaccine producers and suppliers. The governments and foundations pay a premium to the suppliers in advance, funding their research and allowing them to continue developing the vaccine. Once produced, the suppliers provide the vaccine to the governments and foundations.