Meningococcal Vaccines market is projected to grow at a CAGR of 2.5% by 2034: Visiongain
Visiongain has published a new report entitled *Meningococcal Vaccines Market Report 2024-2034**: Forecasts by Type (Polysaccharide Vaccines, Conjugate Vaccines, Combination Vaccines, Men B Vaccines), by Serogroups (A, B, C, Y, W-135 Vaccines, Serogroup B Vaccines), by Brands (Menactra, Menveo, Nimenrix, Bexsero, Trumenba), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis*.
The Meningococcal Vaccines market is estimated at US$3,160.9 million in 2024 and is projected to grow at a CAGR of 2.5% during the forecast period 2024-2034.
Meningitis causes fatal tissue inflammation surrounding the brain and spinal cord and is majorly caused by several species of bacteria, viruses, fungi and parasites. However, Bacterial meningitis is the most common hazardous type of meningitis with one in 5 people suffering from long lasting effects such as scarring and limb amputations post sepsis, hearing loss, seizures, limb weakness, and complications with vision, speech, language, memory, communication.
According to World Health Assembly, an estimated 2.5 million people are diagnosed with meningitis annually and causes 250,000 deaths worldwide. Mortality rates account for 20% to 30% in children. As per NCBI, globally, the incidence of meningitis is 20 cases per 100,000 people (1.2 million). Majority occurrence is in sub-Saharan Africa with epidemics in Africa, New Zealand, Singapore, Australia, Norway, the Netherlands, China, Egypt, and Saudi Arabia.
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*How has COVID-19 had a Significant Negative Impact on the Meningococcal Vaccines Market?*
COVID-19 has caused major issue in accessibility to healthcare and hence, people faced lot of barriers to access vaccines. Furthermore, the major cause is the reluctance among patients to visit healthcare facilities and focus. on immunization due to various. social stigma and lack of knowledge around vaccines. Additionally, lack of information around meningitis is also adding to the decreased use of vaccines since COVID-19 impacted the face-to-face contacts with healthcare providers for increasing awareness about the vaccines.
*How will this Report Benefit you?*
Visiongain’s 239-page report provides 105 tables, 161 charts and graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the Meningococcal Vaccines Market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Meningococcal Vaccines. Get financial analysis of the overall market and different segments including type, serogroups, and distribution channel market share. We believe that there are strong opportunities in this fast-growing Meningococcal Vaccines market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
*What are the Current Market Drivers?*
*Rising Initiatives by International Organizations to Address Meningitis*
Increasing initiatives in the form of new programs and awareness for Meningococcal vaccines is expected to drive the market growth. For instance, in 2020, WHO developed the global roadmap Defeating Meningitis by 2030 with a vision “Towards a world free of meningitis”. The roadmap has 3 goals - elimination of bacterial meningitis epidemics; reduction of cases of vaccine-preventable bacterial meningitis by 50% and deaths by 70%; reduction of disability and improvement of quality of life after meningitis due to any cause. Furthermore, in 2009, the Global Meningococcal Initiative (GMI) was formed as a multidisciplinary group of scientists, clinicians and public health officials to raise awareness of invasive meningococcal disease (IMD) through education and research. This initiative focus.es on discussion on the latest data in surveillance and epidemiology, control strategies and immunization schedules across different regions. Such initiatives are expected to drive market growth.
*Increasing Introductions of Meningococcal Vaccination in Immunization Schedules*
High prevalence and fatality of meningitis urges a need for vaccinations. In Nov 2023, the U.S. CDC included meningococcal vaccines to the immunization schedules for children, adolescents and adults. Also, in the meningitis belt of Africa, meningococcal A conjugate vaccine was introduced through preventive campaigns in 2010 and added in routine immunization from 2016. Introduction of such vaccines into routine immunization to cover maximum population is important to reduce chances of epidemics. Furthermore, in July 2023, WHO pre-qualified a novel meningococcal conjugate vaccine developed by the Serum Institute of India and the global health non-profit PATH in collaboration with research sites across Africa, India, and the U.S. The vaccine will help to enhance affordability in meningitis belt countries.
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*Where are the Market Opportunities?*
In September 2023, WHO’s Strategic Advisory Group of Experts on Immunization (SAGE) advised meningitis belt countries to launch Men5CV vaccine into routine immunization with recommended single dose at 9 to 18 months of age. Effective delivery and distribution of the vaccine will be instrumental in eliminating epidemic bacterial meningitis by 2030 to meet the first visionary goal of the WHO Global Road Map for Defeating Meningitis by 2030.
Additionally, in Feb 2024, Manitoba amended the routine immunization to start using a quadrivalent vaccine against four types of the meningococcal bacteria from March 1. Such initiatives are expected to showcase growth opportunities for meningococcal vaccine market.
*Competitive Landscape*
The major players operating in the Meningococcal Vaccines market are BIO-MED, GSK plc, Hualan Biological Bacterin Co., Ltd., Incepta Pharmaceuticals Ltd., JN International, Pfizer Inc., Sanofi, Serum Institute of India Pvt. Ltd., and Walvax Biotechnology Co., Ltd. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
*Recent Developments*
· In October 2023, Pfizer Inc. received the U.S. Food and Drug Administration (FDA) approval for PENBRAYA (meningococcal groups A, B, C, W and Y vaccine), the first and only pentavalent vaccine that provides coverage against the most common serogroups causing meningococcal disease in adolescents and young adults 10 through 25 years of age.
· In October 2022, GSK plc received the U.S. Food and Drug Administration (FDA) approval for a new presentation of Menveo [Meningococcal (Groups A, C, Y, and W-135) Oligosaccharide Diptheria CRM197 Conjugate Vaccine] for individuals aged 10 to 55 years to help prevent invasive meningococcal disease caused by Neisseria meningitidis serogroups A, C, Y, and W.
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*To find more Visiongain research reports on the **Pharma** sector, click on the following links:*
· mRNA Vaccines Market Report 2023-2033
· Anti-infective Vaccines Market Report 2023-2033
· Vaccine Contract Manufacturing Market Report 2023-2033
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*About Visiongain*
Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
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