Wilmington, Delaware, United States, Transparency Market Research Inc. – Meningococcal vaccines are used to prevent diseases such as meningitis, meningococcemia, and septicemia caused due to N. meningitides.
Wilmington, Delaware, United States, Transparency Market Research Inc. – Meningococcal vaccines are used to prevent diseases such as meningitis, meningococcemia, and septicemia caused due to N. meningitides. Meningococcal disease, especially meningococcal meningitis, is highly infectious among individuals or communities.
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Several meningococcal serogroups have been identified to date; of these, serogroups A, B, C, Y, and W-135 are the most prominent ones causing the infection. Rise in prevalence of meningococcal meningitis has recently emerged as a public health concern. Several meningococcal infection treatment options are available around the world; however, the disease still claims several lives.
Meningococcal disease is spread through contact with secretions from the nose and throat (saliva or spit). Kissing, sharing silverware, drinking from the same container, sharing a cigarette or lipstick, coughing, and having close social contact (living in the same house) are examples of how the disease spreads. Vaccination is one of the most effective ways to prevent meningococcal disease.
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Meningococcal Vaccines Market Outlook 2031
- The meningococcal vaccines market was valued at US$ 4.2 Bn in 2021
- It is estimated to expand at a CAGR of 9.4% from 2022 to 2031
- The meningococcal vaccines market is expected to reach a value of US$ 9.2 Bn by the end of 2031
Rise in Prevalence of Meningitis to Drive Global Meningococcal Vaccines Market
Meningococcal disease is infrequent; however, it has a fatality rate between 5% and 15%. If left untreated, it frequently leads to serious complications. Meningococcal meningitis causes an infection of the brain and spinal cord lining. It has the potential to cause large epidemics and endemics. Each year, approximately 10 to 15 of every 100 people infected with meningococcal disease die. One in every five survivors is likely to suffer from permanent disabilities such as deafness, brain damage, limb loss, or seizures. Hence, demand for meningitis vaccines is increasing around the globe.
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Increase in Awareness about Disease and Growth in Marketing Approvals to Boost Market
The National Meningitis Association (NMA) encourages collaboration by offering opportunities to work with government agencies, corporations, and other non-profit organizations in order to raise awareness about meningococcal disease, its prevention, and the critical need for immediate treatment after diagnosis. Increase in coverage rate of immunization programs around the world is likely to increase access to vaccines. The Meningitis Foundation of America (MFA) is a non-profit organization that provides information and support to people who suffer from meningitis. The foundation also aims to raise public and medical awareness about the early symptoms of meningitis. Thus, the meningococcal vaccines market is estimated to expand at a steady pace during the forecast period.
Rise in Sale of Meningococcal Conjugate Vaccines in Developing Countries to Fuel Market
Based on type, the conjugate vaccine segment is projected to dominate the market and account for 62% share by 2031. The benefits of meningococcal conjugate vaccines, such as long-lasting immunity, immunologic memory, avidity, and herd immunity, are driving sales. This trend is expected to continue during the forecast period. Conjugate vaccines are extensively used in mass vaccination campaigns in affected areas such as Africa. Moreover, they have the ability to increase antibody persistence. Various meningococcal conjugate vaccine programs have been introduced around the world over the last few decades. The vaccine has significantly reduced the incidence of meningococcal disease since 2010. The recently introduced serogroup C conjugate vaccine is safe and effective even in the youngest children. Vaccines against group B meningococci have shown modest efficacy in both children and adults.
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Government Support and High R&D investments Boosting Market in North America
North America dominated the global meningococcal vaccines market in 2021. The market in the region is anticipated to expand at a notable CAGR from 2022 to 2031. Government recommendations and support, and high R&D investments are driving the market in North America. The U.S. is expected to be a prominent market for meningococcal vaccines in North America due to the rise in disease awareness and improved health care infrastructure in the country. Meningococcal disease has been declining in the U.S. since the 1990s.
According to the Centers for Disease Control and Prevention (CDC), approximately 350 cases of meningococcal disease were reported in 2017. Furthermore, awareness among the general public is increasing. The meningococcal vaccines market in Asia Pacific is projected to grow at a rapid pace due to the presence of a large population, improved access to health care systems, and increase in awareness about the meningococcal disease in the region.
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Analysis of Key Players in Global Meningococcal Vaccines Market
The global meningococcal vaccines market is fragmented, with a large number of large-scale vendors controlling a majority of the share. Most of the firms are investing significantly in comprehensive research and development activities. Expansion of product portfolios and mergers and acquisitions are major strategies adopted by key players. Market players are focusing on key trends in meningococcal vaccines with the help of recent R&D insights.
Sanofi SA, Novartis International, GlaxoSmithKline plc, Pfizer Inc., Nuron Biotech, JN-International Medical Corporation, Serum Institute of India Ltd., Baxter International, and Biomed Pvt. Ltd. are the prominent entities operating in the market. Each of these players has been profiled in the meningococcal vaccines market report based on parameters such as company overview, financial overview, business strategies, application portfolio, business segments, and recent developments.
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