Global Meningococcal Vaccines Market Industry Overview and Forecast to 2031 – Market Analysis and Market Share

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Global Meningococcal Vaccines Market Industry Overview and Forecast to 2031 – Market Analysis and Market Share

  • Pharmaceutical
  • Upcoming Report
  • Aug 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Meningococcal Vaccines Market

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period
2024 –2031
Diagram Market Size (Base Year)
USD 3.49 Million
Diagram Market Size (Forecast Year)
USD 5.50 Million
Diagram CAGR
%
Diagram Major Markets Players
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The Global Meningococcal Vaccines Market size in 2023 is USD 3.49 million. The market share is projected to grow at a CAGR of 6.70% and reach USD 5.50 million by 2031.

Meningococcal Vaccines Market

Global Meningococcal Vaccines Market - Industry Overview

Meningococcal diseases primarily affect the meninges, which are the protective membranes covering the brain and spinal cord. National Meningitis Association reports that approximately 600 to 1,000 people contract meningococcal disease each year in the U.S. 21% of meningococcal disease is contracted by preteens, teens and young adults.  Evidently, these stats are driving the demand for vaccines and effective cures.  In order to prevent the rising incidences of Meningococcal diseases, such as meningitis and sepsis caused by Neisseria meningitides bacteria, advancements in vaccine technology and the rise of comprehensive vaccination programs are being actively adopted.  Predominance of upgraded vaccines and extensive vaccination drive is stimulating the growth of the global meningococcal vaccines market.

Data Bridge Market Research Market Report provides details of new recent developments, market share, market trends on the basis of its segmentations and regional analysis, the impact of market players, analyses of opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market, contact Data Bridge Market Research’s team of expert analysts. Our team will help you make informed market decisions to achieve business growth.

Global Meningococcal Vaccines Market Size

Global Meningococcal Vaccines Market Report Metric Details

 

Report Metric

Details

Forecast Period

2024-2031

Base Year

2023

Historic Year

2022 (Customizable 2016-2021)

Measuring Unit

USD Million

Data Pointers

Market value, growth rate, market segments, geographical coverage, market players, and market scenario, in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Meningococcal diseases pose severe health risks, with 10-15% of affected individuals succumbing to the illness. Among survivors, approximately 20% endure permanent disabilities, such as brain damage, hearing loss, kidney failure, or limb amputations. These alarming statistics underscore the urgency for comprehensive vaccination programs and advancements in vaccine technology, which are pivotal in mitigating the impact of these life-threatening conditions. Consequently, the demand for effective meningococcal vaccines continues to drive market expansion and innovation. As a result Databridge Market Research dived into comprehensively analyzing the market and unveiled that the Global Meningococcal Vaccines   Market is increasing at a CAGR of 6.70%. Our detailed analysis forecasts that the market is valued at USD 3.49 million in 2023 and is expected to grow up to USD 5.50 million by 2031. Our meticulously created report, developed through comprehensive research and analytics, is a distinguished paper that unveils eye-opening data about the market.

Global Meningococcal Vaccines Market Dynamics

Global Meningococcal Vaccines Market Growth Drivers

Progress in Vaccine Technology

Innovations such as the development of multi-valent vaccines that cover multiple serogroups (A, B, C, W, Y) are expanding protection and driving market growth. For instance, the introduction of the MenB-FHbp vaccine targets serogroup B strains more effectively. Such advancements in vaccine technology not only expand coverage but also drive increased meningococcal vaccines market demand.

Increasing Prevalence of Meningococcal Diseases

According to Centers for Disease Control and Prevention U.S. Cases of meningococcal disease have increased sharply since 2021 and now exceed pre-pandemic levels. In 2023, 422 confirmed and probable cases were reported. This is the largest number of the U.S. meningococcal disease cases reported since 2014. This rise in disease incidence underscores the urgent need for effective vaccination programs, fueling demand for meningococcal vaccines and contributing to Global Meningococcal Vaccines Market Growth.

Global Meningococcal Vaccines Market growth Opportunities

Increasing Research and Development Initiatives

The presence of multiple existing vaccines and ongoing Phase III research activities, with several vaccines expected to be commercialized during the forecast period, is projected to drive market growth. For instance, in June 2020, Pfizer, Inc. began Phase III clinical trials for PF-06886992, a pentavalent meningococcal vaccine candidate (MenABCWY), to assess and compare its safety, immunogenicity, and tolerability with current licensed meningococcal vaccines in adolescents and young adults.

Government Initiatives and Funding

Government support and funding for meningococcal vaccination programs offer significant opportunities for market expansion. Initiatives from organizations such as GAVI and various national health agencies are facilitating vaccine accessibility and affordability. For instance, in Australia, the National Immunization Program provides free meningococcal vaccines to infants and adolescents, ensuring widespread vaccination and reducing disease incidence thereby driving market growth through enhanced public health efforts.

Global Meningococcal Vaccines Market growth Challenges

Limited Access in Low-Income Regions

In many developing countries, healthcare infrastructure and distribution networks are underdeveloped, making it difficult to reach remote or underserved populations. For instance, in regions of sub-Saharan Africa where meningococcal disease is prevalent, logistical challenges and financial constraints can hinder vaccine distribution and uptake.

Vaccine Hesitancy and Low Uptake

Despite the availability of meningococcal vaccines, some communities may harbor concerns or misconceptions about their safety and efficacy, which can hinder vaccination efforts. For instance, in parts of India, misinformation about vaccines has resulted in lower uptake rates, especially in rural areas with limited access to reliable health information. This challenge impacts the global meningococcal vaccines market by reducing vaccination coverage and effectiveness

Global Meningococcal Vaccines Market Restraints

Restraining regulatory Compliances

In Brazil, the Agência Nacional de Vigilância Sanitária (ANVISA) regulates vaccine safety and efficacy, while Australia’s Therapeutic Goods Administration (TGA) sets its own standards for vaccine approval. Adapting to these varied regulatory requirements across different markets can be complex and resource-intensive for vaccine manufacturers, potentially hindering Global Meningococcal Vaccines Market growth.

Global Meningococcal Vaccines Market Scope and Trends

Global Meningococcal Vaccines Market Segmentations Overview

Market

Sub-Segments

Type

Bivalent, Quadrivalent, Others

End User

Hospitals, Homecare, Specialty Clinics, Others

Distribution Channel

Hospital Pharmacy, Online Pharmacy, Retail Pharmacy

Age Group

Infants (0 to 2 years), Children and Adults (2 years & above)

Serotype

Serotype A, Serotype B, Serotype C, Serotype W-135, Serotype Y

  • The bivalent MenACWY vaccine has been updated to enhance its efficacy and broaden coverage, addressing evolving strains against both serogroups A and C and improving protection against meningococcal disease.
  • The MenB vaccines, Bexsero and Trumenba, have been incorporated into vaccination schedules for infants, offering protection against serogroup B, which is prevalent in young children.
  • The FDA approved the MenQuadfi vaccine, a quadrivalent meningococcal vaccine that provides protection against serogroups A, C, W, and Y, and is now recommended for adults, including those at higher risk such as travelers and military personnel.

Global Meningococcal Vaccines Market Regional Analysis – Market Trends

Global Meningococcal Vaccines   Market Regional Overview

 

Region

Countries

Europe

Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe

APAC

China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific

North America

U.S., Canada, and Mexico

MEA

Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East, and Africa

South America

Brazil, Argentina, and Rest of South America

Key Insights

  • North American region is driven by high vaccination coverage and government initiatives. The United States leads with robust immunization programs, supported by CDC guidelines that promote routine vaccination for adolescents and at-risk populations.
  • Asia-Pacific’s rapidly growing markets like India and China are witnessing increased adoption due to rising awareness and government efforts to include meningococcal vaccines in national immunization programs. However, challenges like vaccine hesitancy in rural areas persist.
  •  Europe's market benefits from strong healthcare infrastructure and government-backed vaccination campaigns, particularly in the UK, where the NHS includes meningococcal vaccines in the national immunization schedule.
  • Middle Eastern & African region is experiencing growth due to international health organizations’ efforts, such as GAVI, focusing on expanding vaccine coverage to prevent serotype A outbreaks in the African meningitis belt.

Global Meningococcal Vaccines Market Leading Players

  • Johnson & Johnson Private Limited (U.S.)
  • Mylan N.V. (U.S.)
  • Sun Pharmaceutical Industries Limited (India)
  • Sanofi S.A.(France)
  • Merck & Co., Inc. (U.S.)
  • GSK plc (U.K.)
  • Novartis AG (Switzerland)
  • AbbVie Inc. (U.S.)
  • Fresenius Kabi AG (Germany)
  • Amneal Pharmaceuticals LLC. (U.S.)
  • Pfizer Inc. (U.S.)
  • Serum Institute of India Pvt. Ltd (India)
  • Incepta Pharmaceuticals Ltd. (India)
  • Walvax Biotechnology Co., Ltd (China)
  • Bio-Manguinhos (Brazil)

Global Meningococcal Vaccines Market Recent Developments

  • In May, 2024 FDA accepts GSK’s pentavalent meningococcal vaccine for review.
  • In April, 2024 in a world first, Nigeria has introduced a new 5-in-1 vaccine targeting meningitis, aiming to enhance protection against multiple strains of the disease.
  • In June, 2024 Biovac has secured agreements with Sanofi and EuBiologics to strengthen the supply of polio and meningitis vaccines across Africa, enhancing the continent's vaccine availability and healthcare infrastructure.
  • In December, 2024 Pfizer's Penbraya vaccine has received USFDA approval to protect against the most common serogroups responsible for causing meningococcal disease in adolescents.


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Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Frequently Asked Questions

The market size of Global Meningococcal Vaccines Market in year 2024 is USD 3.72 million.
The Global Meningococcal Vaccines Market CAGR is 6.70% for the forecast period 2023-2031. The Global Meningococcal Vaccines Market size in 2023 is USD 3.49 million and is projected reach USD 5.50 million by 2031.
Progress in Vaccine Technology and Increasing Prevalence of Meningococcal Diseases are driving the Global Meningococcal Vaccines Market growth.
Asia-Pacific is the fastest-growing region in the Global Meningococcal Vaccines Market. Growth is driven by driven by increasing vaccination programs, rising awareness about meningococcal diseases, and expanding healthcare infrastructure in countries like India and China.
Our TRIPOD analysis involves comprehensive primary as well as secondary research to gather the data that is analyzed using credible data analysis methodologies involving Data Forecast Modelling, Porter’s Five Force Model, Demand Supply Chain Analysis, and Value Change Analysis.