Global Meningococcal Vaccines Market Insights Forecasts to 2030
- The global meningococcal vaccines market was valued at USD 2.88 billion in 2021.
- The market is growing at a CAGR of 6.5% from 2021 to 2030
- The global meningococcal vaccines market is expected to reach USD 5.07 billion by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
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The global meningococcal vaccines market is expected to reach USD 5.07 billion by 2030, at a CAGR of 6.5% during the forecast period 2021 to 2030. The meningococcal vaccine market has grown due to the increasing prevalence of meningitis disease. In addition, growing awareness about the disease, increasing R&D, and rising immunization programs are helping in market growth.
Meningococcal illness can lead to meningitis, a severe and sometimes life-threatening inflammation of the membranes that cover the brain and spinal cord, and/or a life-threatening blood infection. Meningococcal disease can cause people to lose limbs, lose their hearing, have problems with their nervous system, become mentally disabled, have seizures, or even have a stroke. Meningococcal disease can be avoided, which is good news, and the meningococcal vaccination is a key part of the plan to avoid it. The National Meningitis Association (NMA), the Meningitis Research Foundation of Canada, the Meningitis B Action Project, and a number of other groups are currently planning a number of campaigns and awareness activities to bring attention to the issue of meningitis. These groups help to spread awareness about ongoing research as well as new ways to keep people away from getting sick. Because of this, it is expected that these factors will help the meningococcal vaccine market grow in the coming years. One reason for the growth of the market is that businesses are putting more effort into research and development of new vaccines for meningococcal disease. For example, in April 2022, researchers from the University of Maryland School of Medicine (UMSOM) announced a new study in which they will test the pentavalent or five-in-one meningococcal conjugate vaccine (NmCV-5) on infants and young children living in the meningitis belt of sub-Saharan Africa. As a result, the market is getting better because of the new vaccines. Also, the number of public-private partnerships that aim to speed up the development of vaccines and make people more aware of the issue. Because of this, it is expected that the market for meningococcal vaccines will grow by a lot over the next few years.
This research report categorizes the market for global meningococcal vaccines based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global meningococcal vaccines market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global meningococcal vaccines market sub-segments.
Global Meningococcal Vaccines Market Report Coverage
|Market Size in 2021:||USD 2.88 billion|
|Forecast Period 2021-2030 CAGR:||6.5%|
|2030 Value Projection:||USD 5.07 billion|
|Historical Data for:||2017-2020|
|No. of Pages:||208|
|Tables, Charts & Figures:||139|
|Segments covered:||By Type, By Brand Name, By End-user, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Bio-Manguinhos, Biomed Pvt. Ltd, GlaxoSmithKline plc, Merck & Co., Inc., Novartis AG, Pfizer Inc., Sanofi Pasteur Inc., Serum Institute of India Ltd|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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- In 2021, the polysaccharide vaccines segment dominated the market with the largest market share of 35% and market revenue of 1.0 billion.
Based on the type, the global meningococcal vaccines market is categorized into Polysaccharide Vaccines, Conjugate Vaccines, Combination Vaccines, and Others. In 2021, the polysaccharide vaccines segment dominated the market with the largest market share of 35% and market revenue of 1.0 billion. Due to the limited supply from a few vaccine makers, developing countries are still very interested in polysaccharide vaccines. The leaders in the market are working with local distributors to reach more people. Research that will be published by the National Institute of Health in 2021 shows that people with diabetes have twice the chance of getting meningitis. Diabetes is one of the most important risk factors because it makes it much more likely that a person will get meningitis.
- In 2021, the bexsero segment accounted for the largest share of the market, with 28% and a market revenue of 0.8 billion.
Based on a brand name, the meningococcal vaccines market is categorized into Menactra, Menveo, Nimenrix, Trumenba, Bexsero, and Others. In 2021, the bexsero segment accounted for the largest share of the market, with 28% and a market revenue of 0.8 billion. Bexsero is approved for use in more than 40 countries, including New Zealand, Argentina, Chile, Australia, Israel, Uruguay, Turkey, and Europe. The high rate of acceptance of the vaccine that protects against meningococcal infections caused by serotype B can also be linked to the growth in market share.
- In 2021, the hospital’s segment accounted for the largest share of the market, with 40.1% and market revenue of 1.15 billion.
Based on end-user, the meningococcal vaccines market is categorized into Hospitals, Pharmacy Stores, and Others. In 2021, the hospital segment accounted for the largest share of the market, with 40.1% and a market revenue of 1.15 billion. The hospital segment is rising with the increase in awareness among people regarding meningococcal vaccines.
Regional Segment Analysis of the Meningococcal Vaccines Market
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- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America emerged as the largest market for the global meningococcal vaccines market, with a market share of around 35% and 2.88 billion of the market revenue in 2021.
- In 2021, North America emerged as the largest market for the global meningococcal vaccines market, with a market share of around 35% and 2.88 billion of the market revenue. There are a lot of things that are driving the market in North America. Some of them are good government recommendations and support and strong spending on research and development. A well-developed healthcare system and increased awareness campaigns in the region are also expected to help the market grow. People at the market also participate in a campaign to raise awareness about meningococcal disease and get more people vaccinated. For example, in August 2021, GlaxoSmithKline Plc started a campaign called ASK2BSure to get parents to take their kids to the paediatrician for the meningitis B vaccine.
- The Asia-Pacific market is expected to grow at the fastest CAGR between 2021 and 2030, meningococcal vaccine sales are growing in this region because there are more kids under 18 and the government is doing more to stop the spread of the disease. Also, nonprofit groups in the area share information with the public and raise awareness among people who work in the medical field. In addition, more people will likely be vaccinated against meningococcal diseases.
The report offers the appropriate analysis of the key organizations/companies involved within the global meningococcal vaccines market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Biomed Pvt. Ltd
- GlaxoSmithKline plc
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
- Sanofi Pasteur Inc.
- Serum Institute of India Ltd
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In May 2022, the British pharmaceutical company GlaxoSmithKline said it would pay up to USD 3.3 billion to buy the privately held biopharmaceutical company Affinivax. This was done to improve its vaccine pipeline. As the company gets ready to split its consumer unit from the rest of the business, this is a key area of focus.
- In March 2022, the University of Maryland School of Medicine (UMSOM) will be in charge of studies to find out how well the meningococcal vaccine works for babies and young children in Africa. If this trial goes as planned, the World Health Organization could give its approval for this specific use of the vaccine.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global meningococcal vaccines market based on the below-mentioned segments:
Global Meningococcal Vaccines Market, By Type
- Polysaccharide Vaccines
- Conjugate Vaccines
- Combination Vaccines
Global Meningococcal Vaccines Market, By Brand Name
Global Meningococcal Vaccines Market, By End-User
- Pharmacy Stores
Global Meningococcal Vaccines Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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