| REPORT ATTRIBUTE |
DETAILS |
| Historical Period |
2019-2022 |
| Base Year |
2023 |
| Forecast Period |
2024-2032 |
| Vietnam Pneumococcal Vaccine Market Size 2024 |
USD 107.98 Million |
| Vietnam Pneumococcal Vaccine Market, CAGR |
7.98% |
| Vietnam Pneumococcal Vaccine Market Size 2032 |
USD 199.57 Million |
Market Overview
The Vietnam Pneumococcal Vaccine market is projected to witness significant growth, with its value expected to rise from USD 107.98 million in 2024 to USD 199.57 million by 2032, reflecting a compound annual growth rate of 7.98%.
In the Vietnam Pneumococcal Vaccine market, several drivers and trends shape its trajectory. Increasing awareness about the importance of vaccination, coupled with government initiatives to expand immunization programs, drives market growth. Additionally, rising incidences of pneumococcal diseases and the continuous development of advanced vaccines contribute to market expansion. Moreover, the growing healthcare expenditure and improving healthcare infrastructure further fuel market demand. These factors collectively create a conducive environment for market players to invest in research, development, and distribution, fostering sustained growth in the Vietnam Pneumococcal Vaccine market.
In the geographical analysis of the Vietnam Pneumococcal Vaccine market, major players strategically target urban centers and densely populated regions where healthcare infrastructure is well-established. Hanoi and Ho Chi Minh City emerge as key focal points due to their large populations and robust healthcare systems. Leading multinational pharmaceutical companies such as Pfizer Inc., GlaxoSmithKline plc, and Merck & Co., Inc., dominate the market, leveraging their extensive distribution networks and strong research capabilities. Local manufacturers also play a significant role, catering to specific market segments and contributing to the overall competitive landscape of the Vietnam Pneumococcal Vaccine market.
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Market Drivers
Local Disease Burden and Public Health Initiatives:
Vietnam bears a significant burden of pneumococcal diseases, comprising pneumonia, meningitis, and sepsis, posing a considerable threat to public health. Vietnam, for instance, faces a significant public health challenge with pneumococcal diseases. Pneumonia, meningitis, and sepsis caused by Streptococcus pneumoniae lead to more than 300,000 children under 5 years old dying worldwide every year, with the majority of these deaths occurring in developing countries. In Vietnam, comprehensive vaccination strategies are crucial to protect the vulnerable, especially children and the elderly, from these life-threatening illnesses. The Vietnamese government has implemented national immunization programs to combat the spread of infectious diseases, including pneumococcal infections. For example, the introduction of the pneumococcal conjugate vaccine (PCV) has been recommended by the World Health Organization (WHO) since 2007, and countries that have introduced PCV have observed large reductions in severe pneumococcal disease and pneumonia. As of the end of 2020, 148 out of 194 WHO member states have introduced PCV into their National Immunization Program.
Focus on Maternal and Child Health:
Vietnam’s concerted efforts to enhance maternal and child health outcomes serve as a driving force behind the escalating demand for pneumococcal vaccines. Vietnam, for instance, has made impressive advancements in maternal and child health, which have significantly driven the demand for pneumococcal vaccines. The country has seen a four-fold reduction in maternal mortality and a dramatic halving of under-5 mortality in recent decades. Despite this progress, Vietnam still records around 600 maternal deaths and more than 10,000 neonatal deaths each year, with 100 children under-5 dying daily from preventable causes. Recognizing the vulnerability of infants and young children to pneumococcal infections, Vietnamese health authorities have prioritized vaccination. For instance, the Vietnam Pneumococcal Trial II (VPT-II) evaluates reduced-dose schedules of PCV10 and PCV13 vaccines, aiming to maintain herd protection and assess their impact on nasopharyngeal carriage and immunogenicity. Such initiatives underscore the importance of vaccination as a preventive healthcare measure and contribute to the expansion of the pneumococcal vaccine market.
Global Trends in Pneumococcal Vaccination:
Globally, there is an increasing recognition of the severe consequences of pneumococcal diseases and the critical role of vaccination in preventing them. For instance, the World Health Organization (WHO) estimates that Streptococcus pneumoniae kills more than 300,000 children under 5 years old worldwide each year, with most deaths occurring in developing countries. This global awareness influences healthcare practices in Vietnam, leading to a significant increase in demand for pneumococcal vaccines. Vietnam’s healthcare policies align closely with WHO guidelines, which recommend pneumococcal conjugate vaccine (PCV) for infants and children under 5 years of age. The WHO’s recommendations have a substantial impact on Vietnam’s vaccine procurement and distribution strategies. For instance, WHO suggests that PCV be given as a three-dose schedule, either with two doses in infancy followed by a booster dose or three doses in infancy without a booster.This guidance shapes the pneumococcal vaccine market in Vietnam, as the country works to strengthen its public health defenses against pneumococcal infections. The WHO’s advocacy for vaccination among specific demographics, such as infants, children, and the elderly, is instrumental in guiding Vietnam’s efforts to protect these vulnerable groups.
Other Potential Drivers:
The burgeoning private healthcare sector in Vietnam is poised to play a pivotal role in expanding the accessibility and affordability of pneumococcal vaccines beyond the purview of government-sponsored initiatives. As private healthcare institutions proliferate and gain traction among the populace, they serve as key conduits for disseminating pneumococcal vaccines to a broader spectrum of the population, thereby augmenting market reach and penetration. With the escalating tide of international travel and immigration, there emerges a concomitant rise in the demand for pneumococcal vaccination, particularly among expatriates and individuals traversing regions with a heightened prevalence of pneumococcal diseases. This phenomenon underscores the indispensable role of pneumococcal vaccination in safeguarding public health on a global scale, thereby contributing to the perpetuation of market growth dynamics in Vietnam’s pneumococcal vaccine market.
Market Trends
Focus on Local Vaccine Production:
Vietnam is indeed experiencing a significant shift towards the local production of pneumococcal vaccines. For instance, the country has been actively involved in vaccine research and development, with the Vietnam Pneumococcal Trial II (VPT-II) evaluating reduced-dose schedules of PCV10 and PCV13 vaccines. This initiative reflects Vietnam’s commitment to enhancing vaccine accessibility and affordability. By developing domestic manufacturing capabilities, Vietnam aims to ensure a stable vaccine supply chain. For instance, the country has demonstrated its capacity to produce vaccines, as seen with the development of its own COVID-19 vaccine candidates, such as NanoCovax. This move towards self-sufficiency in vaccine production is expected to reduce dependence on imports and lower vaccine costs, ultimately expanding access to pneumococcal vaccination for its citizens. This initiative not only strengthens Vietnam’s defenses against pneumococcal diseases but also promotes economic growth and self-reliance in the healthcare sector. For instance, the local production of vaccines aligns with the efforts of global organizations like UNICEF, which encourages self-financing middle-income countries to make multi-year demand commitments to enable access to more affordable pricing through their procurement channels. Vietnam’s progress in this area is a testament to its dedication to improving public health and fostering a resilient healthcare infrastructure.
Government Price Negotiations and Cost-effectiveness Studies:
Vietnam bears a significant burden of pneumococcal diseases, comprising pneumonia, meningitis, and sepsis, posing a considerable threat to public health. This underscores the urgent need for comprehensive vaccination strategies to shield vulnerable segments of the population, particularly children and the elderly, from these potentially life-threatening illnesses. For instance, the World Health Organization (WHO) estimates that Streptococcus pneumoniae kills more than 300,000 children under 5 years old worldwide each year, with most deaths occurring in developing countries. The Vietnamese government spearheads various national immunization programs aimed at curtailing the spread of infectious diseases, including pneumococcal infections. These initiatives, bolstered by robust public health campaigns and governmental support, play a pivotal role in amplifying vaccine uptake across the country, thereby fostering market growth for pneumococcal vaccines. For example, under Resolution No.104, Vietnam plans to include pneumococcal disease vaccines in its Expanded Immunisation Programme from 2025.
Market Challenges Analysis
Affordability and Access Issues:
Pneumococcal conjugate vaccines pose a significant financial challenge, particularly for the Vietnamese government striving to procure them for large-scale immunization programs. The elevated costs can constrict vaccine availability, particularly impacting low-income families who may struggle to afford them, thereby exacerbating disparities in healthcare access. Ensuring the requisite cold chain storage and transportation conditions for pneumococcal vaccines proves daunting, especially in remote regions of Vietnam with limited infrastructure. This logistical hurdle heightens the risk of vaccine spoilage and compromises program effectiveness, hindering efforts to extend vaccination coverage to underserved communities.
Vaccination Rates and Hesitancy:
Achieving full adherence to recommended pneumococcal vaccination schedules presents a multifaceted challenge. Factors such as inadequate awareness, logistical barriers hindering access to multiple doses, and vaccine hesitancy contribute to incomplete vaccination coverage, thereby impeding efforts to maximize population immunity against pneumococcal diseases. The proliferation of misinformation and concerns regarding vaccine safety engenders vaccine hesitancy among certain segments of the population, undermining vaccination efforts. Addressing these misconceptions through targeted educational campaigns is imperative to foster vaccine confidence and mitigate hesitancy, thereby bolstering vaccination rates and public health outcomes.
Market Segmentation Analysis:
By Type:
The Vietnam Pneumococcal Vaccine market exhibits a diverse landscape segmented by vaccine type, catering to various medical needs and preferences. Live attenuated vaccines, leveraging weakened forms of the pneumococcal bacteria, offer robust immune responses with reduced virulence, contributing to their popularity in vaccination programs. Inactivated vaccines, composed of killed pneumococcal bacteria, provide an alternative option, particularly suitable for individuals with weakened immune systems. Subunit vaccines, containing only specific components of the bacteria, and recombinant vaccines, incorporating genetically engineered components, represent advancements in vaccine technology, offering targeted immune responses with enhanced safety profiles.
By Vaccine Property:
The segmentation of the Vietnam Pneumococcal Vaccine market by vaccine property further delineates market dynamics, enabling tailored approaches to immunization strategies. Adjuvanted vaccines, formulated with immune-stimulating additives, enhance vaccine efficacy by augmenting immune responses, particularly beneficial for populations with weakened immune systems. Non-adjuvanted vaccines, devoid of such additives, offer a more streamlined approach to vaccination, suitable for individuals with sensitivities or specific medical conditions. This segmentation ensures a nuanced understanding of vaccine properties and facilitates informed decision-making in vaccine selection, ultimately optimizing public health outcomes in Vietnam’s fight against pneumococcal diseases.
Segments:
Based on Type
- Live Attenuated Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- Recombinant Vaccines
Based on Vaccine Property
- Adjuvanted
- Non-adjuvanted
Based on Route of Administration
- Intramuscular
- Subcutaneous
- Intradermal
- Others
Based on Age group
Based on End-user
- Hospitals
- Specialty clinics
- Homecare
- Others
Based on Distribution Channel
- Hospital
- Retail Pharmacy
- Online Pharmacy
- Non-Governmental Organizations
Based on the Geography
- Major cities and urban areas (Hanoi and Ho Chi Minh City)
- Rural and remote regions
Regional Analysis
Major cities and urban areas
The major cities and urban areas, such as Hanoi and Ho Chi Minh City, account for the largest share of the pneumococcal vaccine market in Vietnam. These regions have better access to healthcare facilities, higher awareness about immunization programs, and a higher concentration of affluent populations who can afford to pay for these vaccines out-of-pocket or through private healthcare plans. Furthermore, the presence of international healthcare providers and private clinics in these urban centers has facilitated the availability and distribution of pneumococcal vaccines.
Rural and remote regions
The rural and remote regions of Vietnam have a relatively lower market share for pneumococcal vaccines. These areas often face challenges such as limited access to healthcare services, lower awareness about the importance of vaccination, and economic constraints that hinder the affordability of these vaccines. However, the Vietnamese government has been making efforts to improve immunization coverage through national immunization programs, which may gradually increase the demand for pneumococcal vaccines in rural areas.
Key Player Analysis
- Pfizer Inc.
- Merck & Co., Inc.
- Walvax Biotechnology Co. Ltd.
- GlaxoSmithKline PLC.
- PnuVax Incorporated
- Novartis AG
- Serum Institute of Vietnam Pvt. Ltd.
- Panacea Biotec Limited
- Shenzhen Kangtai Biological Products Co., Ltd
- Sanofi Pasteur SA
Competitive Analysis
In the competitive landscape of the Vietnam Pneumococcal Vaccine market, several leading players vie for prominence, each leveraging distinct strengths and strategies. Pfizer Inc. and Merck & Co., Inc., renowned multinational pharmaceutical giants, boast extensive research and development capabilities, alongside robust distribution networks, positioning them as formidable contenders in the market. GlaxoSmithKline PLC., with its diversified vaccine portfolio and global presence, competes vigorously, offering innovative solutions to combat pneumococcal diseases. Domestic players like Walvax Biotechnology Co. Ltd. and Serum Institute of Vietnam Pvt. Ltd. contribute significantly, leveraging local expertise and insights to tailor vaccines to regional needs. PnuVax Incorporated and Novartis AG, with their focus on technological advancements and vaccine innovation, continuously push boundaries in vaccine development. Panacea Biotec Limited, Shenzhen Kangtai Biological Products Co., Ltd., and Sanofi Pasteur SA, with their commitment to quality and affordability, further enrich the competitive landscape, collectively driving advancements and accessibility in the Vietnam Pneumococcal Vaccine market.
Recent Developments
In May 2023, Pfizer (Vietnam) Limited Company and Vietnam Vaccine Joint Stock Company entered a memorandum of understanding (MoU) with the shared objective of comprehensive cooperation to safeguard public health, proactively combat diseases, and align with global advancements in healthcare, thereby positively impacting the well-being of the Vietnamese population.
Market Concentration & Characteristics
The Vietnam Pneumococcal Vaccine market exhibits characteristics of moderate concentration, characterized by the presence of both multinational pharmaceutical corporations and domestic vaccine manufacturers. While leading global players such as Pfizer Inc., Merck & Co., Inc., and GlaxoSmithKline PLC. dominate the market with their extensive product portfolios and established distribution networks, domestic companies like Walvax Biotechnology Co. Ltd. and Serum Institute of Vietnam Pvt. Ltd. also play a significant role, offering localized solutions and catering to specific market segments. This market structure fosters healthy competition, encouraging innovation and technological advancements in vaccine development while ensuring diverse options for healthcare providers and consumers. Additionally, the market is characterized by stringent regulatory standards enforced by Vietnamese health authorities, ensuring the safety, efficacy, and quality of pneumococcal vaccines available in the country.
Report Coverage
The research report offers an in-depth analysis based on Type, Vaccine Property, Route of Administration, Age group, End-user, Distribution Channel and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.
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Future Outlook
- The Vietnam pneumococcal vaccine market is expected to grow steadily due to increasing government initiatives promoting vaccination.
- Expanding coverage of national immunization programs will include broader access to pneumococcal vaccines across different age groups.
- Rising awareness about the importance of vaccinations in preventing pneumococcal diseases will drive market growth.
- Collaborations between international health organizations and local health ministries will enhance vaccine distribution channels.
- New vaccine introductions and formulations are anticipated as pharmaceutical companies invest in R&D to meet local health needs.
- Efforts to improve healthcare infrastructure in rural and underserved areas will increase vaccination rates.
- The market will benefit from the government’s support for healthcare programs aimed at reducing the incidence of respiratory infections.
- Increasing urbanization and population density will lead to higher demand for pneumococcal vaccines as preventive health measures.
- Continued focus on educational campaigns about the benefits of pneumococcal vaccination will improve public perception and uptake.
- Adoption of newer vaccine technologies and improved cold chain logistics will ensure the effective administration of vaccines.
