New York, USA, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Meningococcal Vaccines Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Meningococcal Vaccines Market Information by Vaccine Type, Serotype, End-User, and Region - Forecast till 2030”, the market will touch USD 5.91 billion by 2030, thriving at a rate of 7.29% between 2022 and 2030.
Meningococcal Vaccines Market Synopsis
Meningococcal vaccinations help safeguard against infections with Neisseria meningitides. Vaccines that target meningococcus strains, such as A, B, C, Y, and W-135 are available.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 5.91 Billion |
| CAGR | 7.29% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Vaccine Type, Serotype and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising awareness and surge in travel vaccine |
| Increase in R&D for vaccine technology |
Meningococcal Vaccines Market Competitive Landscape:
The affluent companies in the meningococcal vaccines industry include
- Bio-Manguinhos (Brazil)
- Sanofi S.A.(France)
- Serum Institute of India Pvt. Ltd (India)
- GlaxoSmithKline plc (UK)
- Merck & Co., Inc (US)
- Walvax Biotechnology Co., Ltd (China)
- Incepta Pharmaceuticals Ltd (Bangladesh)
- BIO-MED (US)
- Novartis AG (Switzerland)
- Pfizer Inc (US)
Meningococcal Vaccines Market USP Covered:
Market Drivers:
The massive burden of meningitis is the key reason for the substantial market demand. The Centers for Disease Control and Prevention says that nearly 1.7 million instances of bacterial meningitis take place globally annually.
Furthermore, the mounting number of immunization programs, soaring awareness regarding the condition, and the surge in R&D activities pertinent to meningococcal vaccines can benefit the worldwide market in subsequent years.
Numerous awareness programs and campaigns are being set up by government as well as non-government entities, such as Meningitis B Action Project, Meningitis Research Foundation of Canada, the National Meningitis Association (NMA), and more. These organizations encourage research activities and advanced approaches to disease prevention. These factors can mean rapid growth of the meningococcal vaccine industry in the next few years.
Market Restraints:
Lower awareness levels about the meningococcal condition as well as the latest treatment options could restrain the growth rate of the worldwide market in the future. Also, poor healthcare infrastructure in certain underdeveloped economies could bring down the market demand to some extent.
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Meningococcal Vaccines Market COVID 19 Analysis
The COVID-19 outbreak and the continuous spread of the pandemic have given rise to numerous challenges, affecting people’s health worldwide and leading to an economic downfall. The aftermath is linked with a social as well as an economic burden worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.
Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other conditions. These factors will most likely be unfavorable for the meningococcal vaccines industry in the years ahead.
Meningococcal Vaccines Market Segmentation
By Vaccine Type
Subcapsular, conjugate, and Polysaccharide are the main segments, depending on vaccine type.
The surging cases of meningitis, mounting number of government initiatives and regulations, and rising spending by non-profit organizations will enhance the subcapsular segment’s share in the meningococcal vaccines. Additionally, the surge in initiatives working on elevating public health awareness to curb the growth of meningococcal disease will ensure an influx of lucrative opportunities for the players.
By Serotype
MenC, MenB/BC, MenACWY, MenAC and MenA are the serotype-based segments considered in the study.
Meningococcal cases in numerous countries have resulted in an upsurge in the need for effective vaccines. The government bodies are coming up with new initiatives to find a replacement for the existing meningitis C vaccine with combination vaccines like MenAC. This vaccine helps deal with the surging number of deaths owing to meningitis.
On the other hand, the MenA vaccine protects against meningococcal disease caused by the meningococcus group A. Patient information, healthcare professional training, demand and support are driven by the major surge in routine immunization. Companies active in the meningococcal vaccines industry are forming alliances with each other, such as Serum Institute, a renowned entity that offers Meningococcal A Conjugate Vaccine (Freeze-Dried).
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By End-User
Research and academic institutes, hospitals, and others are the major industry end-users.
The hospitals and clinics segment’s significant growth is the result of the mounting need for vaccines in conjunction with the soaring cases of meningococcal disease. A rise in initiatives by private companies and the government toward the development of efficient meningococcal vaccines and assessing their potential demand will bolster the segment’s expansion rate.
Meanwhile, research & academic institutes will be recording the fastest CAGR between 2022 and 2030. This can be on account of the rising cases of the condition among adolescents, and young children, coupled with the heightened number of research & academic institutes worldwide. Besides, the rise in R&D activities along with the advances in healthcare infrastructure will further augment the growth rate of the research & academic institutes segment.
Meningococcal Vaccines Market Regional Insights
North America is currently the strongest market for meningococcal vaccines, in terms of revenue generation. The impressive market expansion in the region is the result of the strong base of renowned and thriving healthcare infrastructure. The supportive government initiatives pertaining to vaccine development and the escalating number of R&D-based agreements and partnerships will also warrant favorable prospects for the regional market.
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The European market for meningococcal vaccines market is thriving, on account of the rising number of non-profit organizations providing funds for healthcare professional training, research projects, and patient information and support. The European Centre for Disease Prevention and Control states that invasive meningococcal disease is the leading reason for the development of meningitis as well as septicemia, with nearly 240,000 cases taking place every year in the region. The disease progression in the region is compelling various European countries to come up with meningococcal vaccination programs, which shall have a tremendous impact on the market.
The Asia Pacific market can anticipate achieving the highest CAGR between 2021 and 2030, in response to the rising transmission rate of meningococcal bacteria. This rise in the number of cases is leading to a higher number of clinical programs focused on developing effective meningococcal vaccines. The rapid occurrence of the disease among various age groups in several countries across the region has fostered the need for an efficient vaccine, thereby giving a notable push to the market demand.
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