Meningococcal Vaccines Industry Overview
The global meningococcal vaccines market size was valued at USD 2.88 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030. The increasing prevalence of meningitis is one of the major factors expected to drive the market. According to the Centers for Disease Control and Prevention (CDC), around 1.2 million cases of bacterial meningitis are projected to occur globally every year. Moreover, increasing immunization programs, growing awareness about the disease, and increasing R&D activities pertaining to meningococcal vaccines are expected to fuel the market growth during the forecast period.
The overall market experienced a decline in 2020 owing to the COVID-19 pandemic. The net sales of Menactra, Menveo, Nimenrix, Trumenba, and Bexsero were negatively impacted in 2020. However, the market is expected to grow at a positive Y-o-Y growth rate in 2021 due to increasing initiatives by government and regulatory authorities to combat the rising prevalence of meningitis. For instance, in May 2019, the Ministry of Health of Ireland approved MenACWY vaccine to be provided to thousands of teenagers in Ireland, due to the rising prevalence of meningitis in 2018.
Gather more insights about the market drivers, restraints, and growth of the Global Meningococcal Vaccines Market
Various campaigns and awareness programs are being organized by government & non-government organizations, such as the National Meningitis Association (NMA), Meningitis Research Foundation of Canada, Meningitis B Action Project, and others. These organizations help in promoting continuous research and new approaches involved in disease prevention. Hence, these factors are anticipated to fuel the meningococcal vaccine market growth in the coming years.
The presence of non-profit organizations providing support for research projects, training to healthcare professionals, and offering information & help to patients is anticipated to accelerate market growth. For instance, in August 2021, DoSomething.Org and National Foundation for Infectious Diseases (NFID) introduced the "Complete What's Missing Program". The program's goal is to educate young people about the importance of Meningococcal Disease Prevention.
The presence of phase III vaccines in the pipeline which are expected to be commercialized over the forecast period is anticipated to fuel the market growth. For instance, in June 2020, Pfizer, Inc. initiated phase III clinical trials of PF-06886992, a pentavalent meningococcal vaccine candidate (MenABCWY) to assess & compare the safety, immunogenicity, and tolerability with licensed meningococcal vaccines in adolescents and young adults. Moreover, Menactra, a conjugate vaccine manufactured by Serum Institute of India Pvt. Ltd. is currently in phase III clinical trial.
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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
- Europe
- Asia Pacific
- Latin America
- MEA
Key Companies profiled:
Some prominent players in the global Meningococcal Vaccines market include
- Pfizer Inc.
- Sanofi
- Serum Institute of India Ltd.
- GlaxoSmithKline plc.
- Merck & co., Inc.
- Walvax Biotechnology Co., Ltd.
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