Wilmington, Delaware, USA, Transparency Market Research Inc. – Meningococcal vaccines are used to prevent diseases such as meningitis, meningococcemia and blood poisoning caused by N. meningitides. Meningococcal disease, particularly meningococcal meningitis, is highly contagious 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 best known to cause the infection. The increase in the prevalence of meningococcal meningitis has recently become a public health concern. There are several treatment options for meningococcal infections worldwide; However, the disease still claims several lives.
Meningococcal disease is transmitted through contact with secretions from the nose and throat (saliva or spit). Kissing, sharing cutlery, drinking from the same container, sharing a cigarette or lipstick, coughing and 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 Vaccine Market Outlook 2031
- The meningococcal vaccine market was valued at US$4.2 billion in 2021
- It is estimated to grow at a CAGR of 9.4% from 2022 to 2031
- The meningococcal vaccine market is projected to reach $9.2 billion by the end of 2031
Rise in Meningitis Prevalence to Drive Global Meningococcal Vaccine Market
Meningococcal disease is rare; However, it has a mortality rate between 5% and 15%. Left untreated, it often leads to serious complications. Meningococcal meningitis causes infection of the brain and the lining of the spinal cord. It has the potential to cause major epidemics and endemics. About 10 to 15 out of 100 people who contract meningococcal disease die each year. One in five survivors is likely to have permanent disabilities such as deafness, brain damage, loss of limbs or seizures. Therefore, the demand for meningitis vaccines is increasing worldwide.
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Increasing disease awareness and growth in marketing approvals to boost the market
The National Meningitis Association (NMA) encourages collaboration by providing opportunities to work with government agencies, businesses, and other nonprofit organizations to raise awareness about meningococcal disease, its prevention, and the urgent need for prompt treatment once diagnosed. Increasing the coverage of immunization programs around the world is likely to increase access to vaccines. The Meningitis Foundation of America (MFA) is a nonprofit organization that provides information and support to people living with meningitis. Another goal of the foundation is to raise public and medical awareness of the early symptoms of meningitis. Therefore, the meningococcal vaccine market is anticipated to grow steadily during the forecast period.
Increasing sales of meningococcal conjugate vaccines in developing countries to the fuel market
Based on the type, the conjugate vaccines segment is projected to dominate the market, accounting for a 62% share by 2031. Meningococcal conjugate vaccine benefits such as long-lasting immunity, immunological memory, avidity, and herd immunity are driving sales. This trend is expected to continue during the forecast period. Conjugate vaccines are used extensively in mass vaccination campaigns in affected areas such as Africa. In addition, 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. Group B meningococcal vaccines have shown modest efficacy in both children and adults.
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Government support and high R&D investments promote the market in North America
North America dominated the global meningococcal vaccine market in 2021. The market in the region is expected to grow at a remarkable CAGR from 2022 to 2031. Government recommendations and support as well as heavy investments in research and development drive the market in North America. The US is expected to be a significant market for meningococcal vaccines in North America due to rising disease awareness and improved healthcare infrastructure in the country. Meningococcal disease has been declining in the United States since the 1990s.
According to the Centers for Disease Control and Prevention (CDC), about 350 cases of meningococcal disease were reported in 2017. In addition, awareness among the general public is increasing. The Asia-Pacific meningococcal vaccine market is expected to grow rapidly due to the presence of a large population, improved access to healthcare systems and increasing awareness of meningococcal disease in the region.
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Analysis of the major players in the global meningococcal vaccine market
The global meningococcal vaccine market is fragmented, with a large number of large suppliers controlling much of the share. Most companies invest heavily in extensive research and development activities. The expansion of the product portfolio as well as mergers and acquisitions are important strategies of the major players. Market participants are focusing on the major meningococcal vaccine trends with the help of the latest 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 leading companies operating in the market. Each of these players has been profiled in Meningococcal Vaccines Market report on the basis of parameters such as company overview, financial overview, business strategies, application portfolio, business segments, and recent developments.
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