The pneumococcal vaccines market focuses on vaccines developed to protect against infections caused by Streptococcus pneumoniae, which can lead to serious illnesses such as pneumonia, meningitis, and sepsis. These vaccines are primarily categorized into pneumococcal conjugate vaccines (PCV) and pneumococcal polysaccharide vaccines (PPSV), targeting different age groups including infants, children, adults, and the elderly. Market growth is driven by the rising prevalence of pneumococcal infections, government-supported immunization programs, increasing awareness about preventive healthcare, and the introduction of advanced multivalent vaccines offering broader protection. North America currently dominates due to strong healthcare infrastructure and high vaccine coverage, while Asia-Pacific is expected to see the fastest growth as vaccination programs expand in emerging economies. Challenges include high vaccine costs in low-income regions, logistical barriers in distribution, and vaccine hesitancy in some populations.
The global pneumococcal vaccines market size was valued at USD 8.50 billion in 2024 and is projected to grow from USD 8.80 billion in 2025 to USD 12.87 billion by 2032, exhibiting a CAGR of 5.6% during the forecast period. North America dominated the pneumococcal vaccines market with a 56.35% share in 2024, driven by strong immunization programs, high awareness levels, and favorable government initiatives supporting vaccine uptake.
In June 2025, SK Bioscience, a biotechnology company from South Korea, expanded its L HOUSE production facility in Andong to support global supply of its 21-valent Pneumococcal Conjugate Vaccine (PCV) candidate, GBP410. The facility received official building use approval from the City of Andong.