Meningococcal Vaccines Market Growth & Trends
The global meningococcal vaccines market size is expected to reach USD 4.92 billion by 2030, registering a CAGR of 6.2%, according to a new report by Grand View Research, Inc. Increasing prevalence of meningitis is one of the major factors attributed to the market growth. For instance, according to ECDC, it was estimated that in 2017, 3,221 confirmed cases were observed in EU member states, wherein 58% cases were found in the U.K., France, Spain, and Germany. Moreover, a high incidence of meningitis disease is found in the “meningitis belt” of sub-Saharan Africa, and approximately 30,000 cases are reported every year in this region.
In addition, rising FDA approval for meningococcal vaccines is expected to boost the growth. For instance, in April 2020, Sanofi received FDA approval for its MenQuadfi Meningococcal Conjugate Vaccine for the prevention of invasive meningococcal disorders in individuals at least two years old. The increase in approval of novel vaccines is expected to improve meningococcal prevention which in turn, is anticipated to drive the market.
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Initiatives undertaken by the government to combat the rising incidence of the disease are anticipated to boost the meningococcal vaccine market growth. For instance, from April 2019, Nimenrix was made available for free as a part of the National Immunization Program (NIP) in Australia for the age group 15 to 19 years. Nimenrix is a quadrivalent meningococcal vaccine that targets serogroups A, C, W & Y.
According to WHO, as of 2021, 24 of the 26 nations in the meningitis belt have introduced mass preventive campaigns targeting the age of 1 to 29 years. Moreover, around 13 nations have undertaken the vaccine in their national routine immunization programs. Such initiatives undertaken by countries having high disease burdens are expected to boost the market growth.
Meningococcal Vaccines Market Report Highlights
· Quadrivalent vaccines dominated the type segment owing to their ability to target four serogroups and the strong presence of vaccines such as Menveo, Menactra, and Nimenrix
· The infants (0-2 years) segment accounted for the significant revenue share, by age group, in 2021. The increasing prevalence of meningitis in the age group 9 months to 11 years contributed to the segment growth
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Asia Pacific region is expected to witness the highest CAGR over the forecast period. High unmet needs, rising healthcare expenditure, and a large population base in this region are likely to bolster the market
Meningococcal Vaccines Market Segmentation
Grand View Research has segmented the meningococcal vaccines market based on type, brand, serotype, age group, sales channel, and region
Meningococcal Vaccines Type Outlook (Revenue, USD Million; 2018 - 2030)
· Bivalent
· Quadrivalent
· Others
Meningococcal Vaccines Brand Outlook (Revenue, USD Million; 2018 - 2030) (Volume, Number of Doses (in Thousands))
· Menactra
· Menveo
· Nimenrix
· Trumenba
· Bexsero
· Others
Meningococcal Vaccines Age Group Outlook (Revenue, USD Million; 2018 - 2030)
· Infants (0 to 2 years)
· Children And Adults (2 years & above)
Meningococcal Vaccines Serotype Outlook (Revenue, USD Million; 2018 - 2030) (Volume, Number of Doses (in Thousands))
· Serotype A
· Serotype B
· Serotype C
· Serotype W-135
· Serotype Y
Meningococcal Vaccines Sales Channel Outlook (Revenue, USD Million; 2018 - 2030)
· Private
· Public
Meningococcal Vaccines Regional Outlook (Revenue, USD Million; 2018 - 2030)
· North America
o U.S
o Canada
· Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Russia
o Belarus
o Georgia
o Moldova
· Asia Pacific
o Japan
o China
o India
o Australia
o Singapore
o South Korea
o Thailand
o Vietnam
o Malaysia
o Indonesia
o Kazakhstan
o Kyrgyzstan
o Armenia
o Azerbaijan
o Tajikistan
o Turkmenistan
o Uzbekistan
· Latin America
o Brazil
o Mexico
o Argentina
o Chile
o Cuba
o Ecuador
o Peru
o Colombia
o Venezuela
· Middle East & Africa
o Saudi Arabia
o South Africa
o UAE
o Algeria
o Egypt
o Tunisia
o Iran
o Turkey
o Iraq
o Morocco
List of Key Players in Meningococcal Vaccines Market
· Pfizer Inc.
· Sanofi
· Serum Institute of India Ltd.
· GlaxoSmithKline plc.
· Merck & co., Inc.
· Walvax Biotechnology Co., Ltd.
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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.