Meningococcal Vaccines Industry Overview
The global meningococcal vaccines market size was valued at USD 2.88 billion in 2021 and is expected to reach USD 4.92 billion by 2030, registering a CAGR of 6.2% over the forecast period.
The increasing prevalence of meningitis is one of the major factors expected to drive the market. According to the Centers for Disease Control and Prevention (CDC), around 1.2 million cases of bacterial meningitis are projected to occur globally every year. Moreover, increasing immunization programs, growing awareness about the disease, and increasing R&D activities pertaining to meningococcal vaccines are expected to fuel the market growth during the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Meningococcal Vaccines Market
The overall market experienced a decline in 2020 owing to the COVID-19 pandemic. The net sales of Menactra, Menveo, Nimenrix, Trumenba, and Bexsero were negatively impacted in 2020. However, the market is expected to grow at a positive Y-o-Y growth rate in 2021 due to increasing initiatives by government and regulatory authorities to combat the rising prevalence of meningitis. For instance, in May 2019, the Ministry of Health of Ireland approved MenACWY vaccine to be provided to thousands of teenagers in Ireland, due to the rising prevalence of meningitis in 2018.
Various campaigns and awareness programs are being organized by government & non-government organizations, such as the National Meningitis Association (NMA), Meningitis Research Foundation of Canada, Meningitis B Action Project, and others. These organizations help in promoting continuous research and new approaches involved in disease prevention. Hence, these factors are anticipated to fuel the meningococcal vaccine market growth in the coming years.
The presence of non-profit organizations providing support for research projects, training to healthcare professionals, and offering information & help to patients is anticipated to accelerate market growth. For instance, in August 2021, DoSomething.Org and National Foundation for Infectious Diseases (NFID) introduced the “Complete What’s Missing Program”. The program’s goal is to educate young people about the importance of Meningococcal Disease Prevention.
The presence of phase III vaccines in the pipeline which are expected to be commercialized over the forecast period is anticipated to fuel the market growth. For instance, in June 2020, Pfizer, Inc. initiated phase III clinical trials of PF-06886992, a pentavalent meningococcal vaccine candidate (MenABCWY) to assess & compare the safety, immunogenicity, and tolerability with licensed meningococcal vaccines in adolescents and young adults. Moreover, Menactra, a conjugate vaccine manufactured by Serum Institute of India Pvt. Ltd. is currently in phase III clinical trial.
Meningococcal Vaccines Market Segmentation
Based on the Type Insights, the market is segmented into Bivalent, Quadrivalent, and Others.
Based on the Brand Insights, the market is segmented into Menactra, Menveo, Nimenrix, Trumenba, Bexsero, and Others.
Based on the Age Group Insights, the market is segmented into Infants (0 to 2 years), and Children And Adults (2 years & above).
Based on the Serotype Insights, the market is segmented into Serotype A, Serotype B, Serotype C, Serotype W-135, and Serotype Y.
Based on the Sales Channel Insights, the market is segmented into Private and Public.
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Browse through Grand View Research’s Pharmaceuticals Industry Research Reports.
Market Share Insights
Key Companies Profile:
The market is expected to experience a shift in the dynamics over the forecast period due to the presence of strong pipeline products. Moreover, companies are involved in developing novel vaccines for meningococcal disease and expanding the application of existing vaccines in terms of age groups.
Some prominent players in the global meningococcal vaccines market include,
Order a free sample PDF of the Meningococcal Vaccines Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
Web: https://www.grandviewresearch.com
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1888202951Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United StatesCity: San FranciscoState: CaliforniaCountry: United StatesWebsite: https://www.grandviewresearch.com/industry-analysis/meningococcal-vaccines-market