Global Meningococcal Vaccines Market to Reach Value of USD 4.98 Billion by 2030 | Skyquest Technology
Global meningococcal vaccines market is segmented by type, and end-user. The market can be segmented based on type into conjugate and polysaccharide vaccines. Based on End-User, the market is segmented into children, and adults- Industry forecast 2023-2030
Westford,USA, Jan. 29, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest report, the global meningococcal vaccines market is poised for substantial growth, driven by the rising prevalence of meningitis. According to the Centers for Disease Control and Prevention (CDC), there is an alarming projection of around 1.2 million annual cases of bacterial meningitis worldwide. This surge in cases can be attributed to a combination of factors, including the diligent implementation of immunization programs, heightened public awareness about the severity of the disease, and a surge in research and development endeavors focusing on meningococcal vaccines.
*Browse in-depth TOC on the "Meningococcal Vaccines Market" *
· Pages - 157
· Tables - 59
· Figures – 75
A pivotal driver of the global meningococcal vaccines market is the rising prevalence of meningitis worldwide. As indicated by data from the Centers for Disease Control and Prevention (CDC), the anticipated annual incidence of bacterial meningitis stands at a staggering 1.2 million cases across the globe. This alarming projection underscores the urgent need for effective preventive measures, propelling the demand for meningococcal vaccines to combat the growing threat of this devastating disease.
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*Report Scope & Segmentation: *
*Attributes* *Details*
Market Size in 2022 USD 3.30Billion
2030 Value Projection USD 4.98 Billion
CAGR 6.1%
Forecast Period 2023-2030
Segments Covered · Type
· End-User
Regions Covered · North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa
*Prominent Players in GlobalMeningococcal Vaccines Market*
· Pfizer Inc.
· GlaxoSmithKline plc
· Sanofi Pasteur
· Merck & Co., Inc.
· Serum Institute of India Pvt. Ltd.
· Novartis AG
· Janssen Pharmaceuticals, Inc.
· Bharat Biotech International Ltd.
· Mitsubishi Tanabe Pharma Corporation
· Biomed Pvt. Ltd.
· Walvax Biotechnology Co., Ltd.
· Bavarian Nordic A/S
· Biological E Limited
· Hualan Biological Engineering Inc.
· Beijing Tiantan Biological Products Corporation Limited
· Chongqing Zhifei Biological Products Co., Ltd.
· GSK Biologicals SA
· Incepta Pharmaceuticals Ltd.
· Panacea Biotec Ltd.
· AstraZeneca plc
*Conjugate Vaccines Segment has Risen Significantly due to their Exceptional Effectiveness*
Conjugate vaccines stand out as the prevailing choice in the global meningococcal vaccines market, primarily owing to their exceptional effectiveness and ability to provide longer-lasting immunity against meningococcal disease. These vaccines enjoy strong recommendations from healthcare organizations, particularly for infants and adolescents, given their remarkable track record in preventing the disease.
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North America has asserted its dominance in the global meningococcal vaccines market, which can be attributed to significant factors. The region benefits from a well-established healthcare infrastructure, which provides a solid foundation for distributing and administering vaccines.
*Polysaccharide Vaccines Segment to Dominate Market due to their Shorter-Term Protection against Meningococcal Disease*
The segment of polysaccharide vaccines is anticipated to experience a slower growth rate, primarily attributed to their shorter-term protection against meningococcal disease. These vaccines are typically recommended exclusively for adults, and their usage is less widespread when compared to the more versatile conjugate vaccines.
Asia-Pacific is witnessing substantial growth in the global meningococcal vaccine market, driven by a confluence of factors. The region presents a considerable market potential with a vast and densely populated demographic. Growing healthcare expenditure reflects an increasing commitment to infrastructure and resources, further fueling the market's expansion.
A comprehensive analysis of primary global meningococcal vaccines market players has been conducted recently. The report encompasses various aspects of the market, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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*Key Developments in Global Meningococcal Vaccines Market*
· In 2023, Sanofi Pasteur made a significant announcement regarding their collaboration with the Global Alliance for Vaccines and Immunization (GAVI). This collaboration aimed to extend access to meningococcal vaccines in low-income countries, demonstrating a commendable commitment to global public health and equitable vaccine distribution. The initiative reflects the importance of ensuring that essential vaccines reach vulnerable populations, particularly in regions with limited resources.
· In 2023, GlaxoSmithKline introduced a groundbreaking addition to the field of meningococcal vaccines, unveiling their new product, MenBrio. This novel vaccine is specifically designed to combat serogroup B meningococcal disease, addressing a significant public health concern[RS1] .
*Key Questions Answered in **the Global **Meningococcal **Vaccines Market Report*
· What specific growth drivers are projected to impact the market during the forecast period?
· List the top companies in the market and explain how they have achieved their positions of influence.
· In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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