Market Forecast
Meningococcal Vaccines
Market size is projected to be worth
USD 6.80 billion by 2032, registering a CAGR of 7.3% during the forecast period
2023 – 2032.
The Meningococcal Vaccines Market is experiencing significant
growth, driven by the rising incidence of meningococcal diseases globally.
Meningococcal diseases, caused by the bacterium Neisseria meningitidis, can
lead to serious illnesses such as meningitis and septicemia, posing a
substantial public health burden. Increasing awareness about the importance of
vaccination, coupled with government initiatives to incorporate meningococcal
vaccines into routine immunization programs, is fueling market expansion.
Additionally, advancements in vaccine technology, including the development of
conjugate vaccines offering broader protection against multiple meningococcal
serogroups, are further propelling market growth. Key players in the industry
are investing in research and development to innovate new vaccine formulations
with improved efficacy and safety profiles, catering to the evolving needs of
healthcare systems worldwide.
The global market for meningococcal vaccines continues to witness
significant growth, driven by increasing awareness about the prevention of
meningococcal meningitis and infections. Meningococcal
meningitis vaccine, a crucial component in the
fight against meningococcal disease, plays a pivotal role in vaccination
programs worldwide. This vaccine, designed to protect against the meningococcus
bacterium, has emerged as a key preventive measure, particularly in regions
prone to outbreaks. With rising incidences of meningococcal meningitis
globally, fueled by factors such as population growth, urbanization, and
international travel, the demand for effective vaccines remains robust.
Pharmaceutical companies are actively engaged in the development and
distribution of meningococcal meningitis vaccines, aiming to address the
growing public health concern.
Moreover, the Meningococcal Vaccines Market is witnessing notable
regional variations in demand and adoption rates, with developed regions
showing higher uptake compared to developing economies. Factors such as vaccine
affordability, accessibility, and healthcare infrastructure influence the
distribution and utilization of meningococcal vaccines across different
geographies. Collaborations between governments, non-profit organizations, and
pharmaceutical companies are instrumental in expanding vaccine coverage,
particularly in low- and middle-income countries where meningococcal diseases
pose a significant public health challenge. Looking ahead, the market is poised
for continued growth, driven by ongoing efforts to address unmet medical needs,
expand vaccination coverage, and develop innovative vaccine formulations to
combat meningococcal diseases effectively.
Key Players
The Meningococcal Vaccines
Companies include:
- Baxter
international
- Pfizer
Inc.
- Sanofi
S.A.
- Novartis
Pharmaceuticals Inc.
- JN-International
Medical Corporation
- Serum
Institute of India Ltd.
- GlaxoSmithKline
- BIO-MED
- OthersTop
Meningococcal Vaccines Market Segmentation
By treatment, the market is segmented into
Meningococcal Conjugate Vaccine, Polysaccharide, Subcapsular Vaccine.
Meningococcal A conjugate vaccine is significantly used in mass
campaigns across affected regions like Africa. Since 2010, the vaccine has
significantly decreased meningococcal disease incidence in the region. However,
the demand for meningococcal A conjugate in the country remains uncertain given
that national immunization program adoptions are based on the timing of Gavi
funding decisions, the country’s readiness, and competing for vaccine
introduction priorities.
In the polysaccharide segment, products such as MenACWY vaccines
are in high demand. MenACWY vaccine is the most desirable combination, given
its broader serotype coverage. MenACWY specifically has nine products that are
available across polysaccharide and conjugate product segments, but conjugate
products are suggested for use in routine immunization activities.
Moreover, the demand and supply of Subcap MenB vaccines is
restricted to HICs and influenced by their acceptance into NIPs. Improved
uptake of MenB vaccines is expected in the coming years but will likely be
moderate and limited to high-income markets given the high price and competing
interest of introducing MenACWY conjugate.
By end-user, the market is segmented into Hospital & Clinical,
Research Laboratories, and Academic Institutes
Hospitals and clinics control the global meningococcal vaccines
market. The high growth of hospitals and clinics segment is attributed to the
increasing application of vaccines in these healthcare facilities in
conjunction with the growing prevalence and incidence of the meningococcal
disease.
Moreover, research laboratories and academic institutes take up
the second-largest share due to the boost in research and development in the
market.
By region, the market is segmented into the Americas, Europe,
Asia-Pacific, and the Middle East & Africa.
In the global market, China is expected to have the largest market
share, which accounts for approximately 35% of the global demand. This is
primarily due to polysaccharide products, which currently comprise 84% of China’s
demand. Chinese suppliers presently focus only on meeting the demand of the
domestic market, but some of the manufacturers have indicated interest in the
global market as well. The dynamic product pipeline with several multivalent
conjugate products in development may trigger changes in the future supply mix
of the Chinese market. Moreover, in China, non-routine use (excluding
campaigns) accounts for an estimated 9 million doses in 2019, which may help to
sustain the huge market share in the forecast period.
Related Reports-
Automated Cell Culture Equipment
For more information, Please Visit us @ Market
Research Future
