The global meningococcal vaccine market size is estimated to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the owing to the increasing prevalence of meningitis.
Meningococcal vaccines help prevent meningococcal disease, an illness caused by Neisseria meningitidis bacteria. The rising pervasiveness of meningitis is one of the key factors expected to drive the market. Every year around 1.80 million cases of the disease are reported globally, a study published the Centers for Disease Control and Prevention (CDC). At the World Health Assembly by Eastern Mediterranean & African regions, a global program on “Defeating meningitis by 2030” was launched in May 2018 to structure a roadmap for prevention of meningitis by focusing on areas for enhanced and research activities.
Training to healthcare professionals, offering information & support to patients, and involvement of various non-profit organizations in providing funds for research projects are the key factors influencing the market. Around USD 27.0 million investment in scientific researches and 161 research grants awarded by Meningitis Research Foundation as part of its efforts to make people aware and expertise together to face the challenges in prevention of meningitis. Additionally, a vaccine called MenACYW manufactured by Sanofi is in phase III clinical trial and the rapid development of phase III vaccines is one of the main factors positively impacting the market. Moreover, Serum Institute of India Pvt. Ltd. is currently working on a conjugate vaccine to deliver it at an affordable price.
The report on the global meningococcal vaccine market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes | Details |
Report Title | Meningococcal Vaccine Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018–2019 |
Forecast Period | 2021–2028 |
Segmentation | Brands (Menactra, Menveo, Nimenrix, Trumenba, Bexsero, and Others), Types (Bivalent, Quadrivalent, and Others), and Age Groups (Infants and Children & Adults) |
Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report | Pfizer Inc.; Novartis International AG; Sanofi; Serum Institute of India Ltd.; GlaxoSmithKline plc; and Merck & Co., Inc. |
Based on brands, the global meningococcal vaccine market is divided into menactra, menveo, nimenrix, trumenba, bexsero, and others. The bexsero segment is expected to grow at a rapid pace during the forecast period owing to low cost and successful commercialization of the vaccine. However, the others segment is anticipated to expand at a rapid pace during the forecast period owing to increase in government initiatives for the development of meningococcal vaccine and increasing demand for the vaccine.
On the basis of types, the market is divided into bivalent, quadrivalent, and others. The quadrivalent segment is projected to account for a key share of the market due to widely used brands such as Nimenrix, Menveo, and Menactra along with the approval of new vaccines to prevent people from the disease. Meanwhile, the others segment is anticipated to expand at a rapid CAGR during the forecast period owing to the presence of main market players to develop innovative products and vaccine in both developing and developed countries.
Based on age groups, the global meningococcal vaccine market is bifurcated into infants (0 to 2 years) and children & adults (2 years & above). The infants segment is expected to expand at a robust growth rate in the coming years owing to increasing number of prevalence of meningitis among the age group. On the other hand, the children & adults (2 years & above) segment is attributed to exhibit a high CAGR during the forecast period due to rise in number of government approvals and acceptance for the vaccine of children and adults.
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to constitute a key share of the market owing to high investments in research and development coupled with increasing favorable support and recommendations by governments in the region. Meanwhile, the market of Asia Pacific is anticipated to expand at a substantial CAGR during the forecast period due to rising pediatric population and increasing number of incidences among them in the region.
Key players competing in the global meningococcal vaccine market are Pfizer Inc.; Novartis International AG; Sanofi; Serum Institute of India Ltd.; GlaxoSmithKline plc; and Merck & Co., Inc. One of the key development of the market can be traced back to the launching of a new molecular vaccine named PF-06886992 was developed by Pfizer for Serogroups ABCWY meningococcal infections, which is in Phase II clinical trials currently.
Key players competing in the global meningococcal vaccine market are Pfizer Inc.; Novartis International AG; Sanofi; Serum Institute of India Ltd.; GlaxoSmithKline plc; and Merck & Co., Inc. One of the key development of the market can be traced back to the launching of a new molecular vaccine named PF-06886992 was developed by Pfizer for Serogroups ABCWY meningococcal infections, which is in Phase II clinical trials currently.
Some other reports from this category!