Portland, OR, May 04, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global Meningococcal Vaccine Industry garnered $1.93 billion in 2018, and is projected to garner $4.19 billion by 2026, witnessing a CAGR of 9.5% from 2019 to 2026. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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Increase in outbreaks of meningococcal disease, surge in immunization programs across the globe, and rise in research and development for vaccine technology propel the growth of the global meningococcal vaccine market. However, longer timelines required for vaccine production and high cost associated with the development of vaccines impede the market growth. On the other hand, rise in healthcare spending, increase in research and development for meningococcal vaccines, and growing opportunities in the emerging markets offer lucrative opportunities to the market players.
Covid-19 scenario:
The global lockdown has paused the immunization programs. However, in certain regions the program schedules would be changed. In addition, the R&D processes for vaccine technology have come to a halt. Moreover, in a Covid-19 trial conducted by the University of Oxford, meningococcal medicine has been used as a placebo effect.
The meningococcal vaccine market is segmented on the basis of serogroup, vaccine type, end user, and region. Based on vaccine serotype, the menACWY vaccine economy segment accounted for more than two-fifths of the total share of the global meningococcal vaccine market in 2018. On the other hand, the MenA Vaccine segment is expected to portray the largest CAGR of 13.5% from 2019 to 2026.
Based on vaccine type, the conjugate segment accounted for the largest market share with nearly half of the total share in 2018, and is estimated to maintain its lead position throughout the forecast period. In addition, the segment is expected to register the fastest CAGR of 10.2% from 2019 to 2026.
Based on region, North America accounted for the highest share, holding nearly half of the total share in 2018, and is estimated to maintain its dominant share during the forecast period. On the other hand, the Asia-Pacific region is also anticipated to manifest the fastest CAGR of 14.7% from 2019 to 2026. The market also analyses regions including Europe, North America, and LAMEA.
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The key market players analyzed in the report involves Chongqing Zhifei Biological Products Co., Ltd., GlaxoSmithKline Plc, Hualan Biological Engineering Inc., Incepta Pharmaceuticals Ltd., Pfizer Inc., Sanofi S.A., Serum Institute of India Pvt. Ltd, Walvax Biotechnology Co., Ltd., Bio-Manguinhos, and Bio-Med Pvt. Limited.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.