Meningococcal Vaccines Market

Global Market Study on Meningococcal Vaccines Market: Call for More Reliability in checking Meningitis to drive market expansion

Meningococcal Vaccines Market Segmented By Polysaccharide Vaccine, Conjugate Vaccine, Serogroup B Vaccine for Infants, Childrens, Adolescents and Young Adults

  • June-2022
  • PMRREP3640
  • 249 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Meningococcal Vaccines Market Outlook (2022 - 2028)

Meningococcal vaccinations are administered to avoid infections caused by N. meningitides, such as meningitis, meningococcemia, and septicemia. Meningococcal disease, particularly meningococcal meningitis, is extremely contagious among people. Several meningococcal serogroups have been found, and serogroups A, B, C, Y, and W-135 are the most common ones. Meningococcal meningitis has arisen as a public health concern due to an increase in incidence. Contact with secretions from the nose and throat spreads meningococcal illness. One of the most efficient ways to prevent meningococcal disease is vaccination. The Global Meningococcal Vaccines market is expected to have a significant CAGR of 13.1% from USD 3,666.4 Million in 2022 to USD 6,008.9 Million in 2028.

Meningococcal Vaccines Market Size (2022)

US$ 3,666.4 Mn

Projected Market Value (2028)

US$ 6,008.9 Mn

Global Market Growth Rate (2022 - 2028)

13.1% CAGR

Share in parent market

5.5%

Find Out More about the Report Coverage

Companies

  • Sanofi Pasteur Inc.
  • GlaxoSmithKline
  • Wyeth Pharmaceuticals

Meningococcal Vaccines Market Demand Analysis (2013-2021) v/s Market Outlook (2022 - 2028)

The expansion in public-private collaborations to assist the development of low-cost vaccinations, as well as expanding vaccination programs and government efforts, are the primary drivers to the meningococcal vaccines market. The increased prevalence of meningitis is likely to drive up demand for meningitis vaccination, resulting in rapid market growth. Furthermore, preteens, teenagers, and young adults account for 21% of meningococcal illness cases, hence, increased incidences of meningitis are projected to drive up demand for Meningococcal vaccinations.

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Key Drivers to the Meningococcal Vaccines Market

  • Increased Incidence of Meningitis

Meningococcal disease is rare. However, it has a mortality rate of 5% to 15% and it often leads to major problems if left untreated. Meningococcal meningitis is an infection of the lining of the brain and spinal cord. It tends to produce widespread outbreaks and chronic diseases. Every year, 10 to 15 out of every 100 people infected with the meningococcal illness die. One in every five survivors will most likely have lasting problems such as deafness, brain damage, limb loss, or seizures. Hence, the global demand for meningitis vaccinations is increasing.

meningococcal-vaccines-market

  • Increased Awareness

The growing collaboration of government agencies, companies, and the other non-profit groups to raise awareness about the meningococcal illness, prevention, and treatment is anticipated to boost the coverage rate of vaccination programs across the world, improving access to vaccines. Several government and corporate initiatives are raising public and medical awareness about the early symptoms of meningitis, which is fueling the growth of the Global Meningococcal Vaccines Market.

  • Improved Accessibility to Meningococcal Vaccines

The increasing availability of meningococcal vaccinations in underdeveloped regions, such as certain African countries, with the help of global organizations that have assisted with vaccine prequalification, procurement, and finance, is supporting the market's profitability. Companies are looking to enter these underserved markets in order to stimulate their growth in the meningococcal market. The increased availability of meningococcal vaccines in underserved areas is expected to drive market growth.

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What restraints is the Meningococcal Vaccines Market subject to?

  • Limited Supply

The main factors restraining the market growth of meningococcal vaccinations are limited supply and reliance on a few manufacturers. Manufacturers' access is restricted by a country's ability to finance vaccination and the general populace's unawareness. There is a significant disparity in coverage between existing and novel vaccinations, owing to widespread public apathy. Furthermore, manufacturers' access to specific markets is restrained by the differential pricing tactics used by developing-country governments, which further limits the penetration of newly approved vaccination products.

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Competitive Landscape

The Meningococcal Vaccines Market is highly consolidated with the presence of several big players. Manufacturers in the Meningococcal Vaccines market are focusing on incorporating technical advances to develop and launch new and more effective vaccines.

Recent developments:

  • In January 2022, CanSino Biologics Inc. announced that the National Medical Products Administration of China ("NMPA") approved its ACYW135 Meningococcal Conjugate Vaccine (MCV4, trade name: MenhyciaTM), making it the first of its kind in China. MenhyciaTM covalently binds common pathogenic meningococcal serogroups A, C, W135, and Y to the carrier protein CRM197.
  • In April 2020, The U.S. FDA approved a Biologics License Application for Sanofi's MenQuadfiTM meningococcal conjugate vaccine for the prevention of invasive meningococcal disease in children aged two years and older. MenQuadfi was developed to elicit and demonstrate a high immune response across all four serogroups for a wide range of ages, and it was well tolerated. MenQuadfi is designed to protect a broader age range.

Meningococcal Vaccines Market Industry Report Scope

Attribute

Details

Forecast Period

2022 - 2028

Historical Data Available for

2013-2021

Market Analysis

US$ Mn/Bn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • Russia
  • India
  • China
  • Japan
  • UAE
  • Australia

Key Market Segments Covered

By Product

Key Companies Profiled

  • Sanofi Pasteur Inc.
  • GlaxoSmithKline
  • Wyeth Pharmaceuticals

Customization & Pricing

Available upon Request

Meningococcal Vaccines Market Categorization

Meningococcal Vaccines Market by Product

  • Polysaccharide Vaccine
  • Conjugate Vaccine
  • Serogroup B Vaccine

Meningococcal Vaccines Market by Age Group

  • Infants (0-24 months)
  • Children
  • Adolescents and Young Adults
  • Adults

Meningococcal Vaccines Market by Distribution Channel

  • Institutional Sales
  • Retail Sales

Meningococcal Vaccines Market by Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa (MEA)

Media Release

- FAQs -

In 2022, the Meningococcal Vaccines Market value stands at USD 3,666.4 million, and it is expected to reach USD 6,008.9 million by 2028 at a CAGR of 13.1%.

Meningococcal Vaccines Market exhibited a CAGR of 8.2% between 2013 and 2021.

Increased incidence of meningitis and an increase in the awareness about the meningococcal illness, prevention, and treatment are the key factors driving the growth of the market.

Limited supply and reliance on a few manufacturers are the key restraints in the Meningococcal Vaccines Market.

Sanofi Pasteur Inc., GlaxoSmithKline, and Wyeth Pharmaceuticals are among the top players in the market.

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