Selbyville, Delaware, April 29, 2024 (GLOBE NEWSWIRE) --
Meningococcal Vaccines Market Size will reach USD 7.8 billion by 2032, cites the latest report by Global Market Insights Inc. According to BMC Public Health, an estimated 1.2 million individuals are diagnosed with invasive meningococcal disease (IMD) annually, resulting in approximately 135,000 fatalities worldwide.
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Over recent years, the prevalence of meningococcal infections has witnessed a steady surge worldwide, posing a substantial public health concern. Factors such as population growth, urbanization, and international travel have contributed to the spread of the disease, leading to heightened awareness and a growing sense of urgency for preventive measures. Moreover, the potential severity of meningococcal infections, including meningitis and septicemia, underscores the critical need for vaccination as a primary preventive strategy. Consequently, healthcare authorities, policymakers, and pharmaceutical companies are intensifying efforts to address the rising burden of meningococcal disease through enhanced vaccination programs and the development of innovative vaccine solutions.
Combination vaccines to witness an upward trend
The meningococcal vaccines market from combination vaccines segment will gain traction till 2032, claims the report. Combination vaccines offer several advantages, including reduced vaccination schedules, improved patient compliance, and enhanced cost-effectiveness. By combining multiple antigens in a single vaccine formulation, combination vaccines provide comprehensive protection against multiple serogroups of Neisseria meningitidis, the bacterium responsible for meningococcal disease. This streamlined approach to vaccination simplifies immunization schedules while minimizing the number of healthcare visits required for complete protection, thus driving segment progression.
Rising adoption of Menactra vaccine anticipated.
The meningococcal vaccines market from menactra segment will grow tremendously through 2032, owing to the superior efficacy and safety profile of Menactra vaccines. Menactra is a quadrivalent conjugate vaccine indicated for the prevention of invasive meningococcal disease caused by serogroups A, C, Y, and W-135. Its widespread adoption can be attributed to its robust immunogenicity, long-lasting protection, and favorable dosing schedule. Furthermore, ongoing research and development initiatives aimed at expanding the indication of Menactra to include additional serogroups could bolster its market presence in the coming years, driving segment expansion.
APAC to dominate the Meningococcal Vaccines regional landscape
Asia Pacific meningococcal vaccines market will expand at a decent pace by 2032, fueled by increasing awareness about vaccine-preventable diseases and expanding immunization programs. Countries such as China, India, and Australia are at the forefront of market expansion, driven by rising healthcare expenditure, growing investments in vaccine research and development, and proactive government initiatives to combat infectious diseases. Furthermore, the emergence of novel vaccine delivery technologies and strategic collaborations between pharmaceutical companies and government agencies could accelerate market development in the region. With a large population base and a high burden of meningococcal disease, the region presents lucrative opportunities for market players to capitalize on in the foreseeable future.
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Meningococcal Vaccines Market leaders
Major players operating in the industry include GlaxoSmithKline plc, Pfizer Inc., Sanofi Pasteur SA, Merck & Co., Inc., Novartis AG, Janssen Pharmaceuticals, Inc., Serum Institute of India Pvt. Ltd., Beijing Institute of Biological Products Co., Ltd. Strategic collaborations and partnerships with research institutions and government agencies are being forged to bolster vaccine development efforts and gain access to new markets.
Additionally, R&D investments are focused on innovating new vaccine formulations, such as combination vaccines and novel delivery systems, to address evolving disease threats and improve patient compliance. Furthermore, companies are pursuing geographical expansion strategies, particularly in emerging markets with high disease burden, to tap into previously untapped segments and broaden their consumer base.
For instance, in May 2022, GlaxoSmithKline disclosed plans to invest up to USD 3.3 billion in acquiring Affinivax, a privately held biopharmaceutical firm. This strategic acquisition is geared toward fortifying GSK's vaccine pipeline, a key priority as the British pharmaceutical giant readies to divest its consumer unit.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Global meningococcal vaccines market 360º synopsis, 2018 – 2032 (USD Million)
2.1.1 Business trends
2.1.2 Region trends
2.1.3 Vaccine type trends
2.1.4 Brand trends
2.1.5 Serotype trends
2.1.6 Age group trends
2.1.7 Distribution channel trends
Chapter 3 Meningococcal Vaccines Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Rising prevalence of meningitis
3.2.1.2 Increasing government initiatives
3.2.1.3 Mandatory vaccination requirements
3.2.2 Industry pitfalls & challenges
3.2.2.1 Limited supply of the vaccine
3.2.2.2 High costs of vaccine
3.3 Growth potential analysis
3.3.1 By vaccine type
3.3.2 By brand
3.3.3 By serotype
3.3.4 By age group
3.3.5 By distribution channel
3.4 COVID-19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Porter’s analysis
3.7 PESTEL analysis
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
