Meningococcal Vaccines Market Size to Cross USD 9.2 Bn by 2031, growing at a CAGR of 9.4% from 2022-2031: TMR Report

WILMINGTON, DE / ACCESSWIRE / July 4, 2023 / The global meningococcal vaccines market is estimated to flourish at a CAGR of 9.4% from 2022 to 2031. According to Transparency Market Research, sales of meningococcal vaccines are slated to total US$ 9.2 billion by the end of the aforementioned period of assessment.

The increasing incidence of meningococcal disease across different regions of the world has become a major driver for the market. The high mortality rate associated with meningococcal infections has intensified the demand for effective vaccines.

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Governments worldwide are focusing on immunization campaigns to control the spread of meningococcal disease. National vaccination programs, including routine immunization schedules and mass vaccination campaigns, are driving the demand for meningococcal vaccines. Heightened awareness among healthcare professionals, parents, and the general population about the severity of meningococcal infections has boosted vaccine uptake. Educational campaigns and initiatives by healthcare organizations are playing a pivotal role in driving vaccination rates.

Numerous regions, especially in developing countries, have low vaccination rates, presenting untapped opportunities for meningococcal vaccine manufacturers to expand their presence and increase market penetration. Advancements in vaccine technologies, such as conjugate vaccines, have led to the development of more effective and broader-spectrum meningococcal vaccines. This opens up new avenues for research and development, presenting opportunities for market growth.

With the increasing recognition of meningococcal disease as a public health concern, there is a growing focus on expanding vaccination programs in developing countries. This shift provides opportunities for market players to collaborate with governments and healthcare organizations to address the unmet vaccination needs in these regions.

Key Findings of the Market Report

• Among the types of meningococcal vaccines, conjugate vaccines are the most dominating segment, followed by polysaccharide vaccines. Combination vaccines and Men B vaccines also contribute to market growth.
• Among the end-user segments, hospital pharmacies emerge as the most dominating in the meningococcal vaccines market, owing to their role in vaccination programs, disease management, and access to a wide patient base.
• North America emerges as the most dominating region in the meningococcal vaccines market due to robust healthcare infrastructure, high awareness, favourable government initiatives, and strong market presence of key vaccine manufacturers.

Meningococcal Vaccines Market Growth Drivers & Trends

• Shift from traditional polysaccharide vaccines to conjugate vaccines for enhanced effectiveness.
• Rising investments in healthcare infrastructure and immunization programs in emerging economies.
• Collaboration between government bodies, international organizations, and NGOs to promote meningococcal vaccination.
• Growing research on meningococcal disease epidemiology and vaccine effectiveness.
• Rising partnerships between vaccine manufacturers and distribution networks to ensure wider vaccine availability.

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Global Meningococcal Vaccines Market: Regional Profile

• North America dominates the meningococcal vaccines market due to robust healthcare infrastructure, high awareness, and favorable government initiatives. The region witnesses extensive immunization programs and routine vaccination schedules. Key market players have a strong presence, contributing to market growth.
• Latin America shows a positive growth trajectory in the meningococcal vaccines market. Rising government initiatives, expanding vaccination coverage, and increasing awareness contribute to market growth. However, challenges related to healthcare infrastructure and access to vaccines exists in some countries.
• Europe holds a significant market share in the meningococcal vaccines market. The region emphasizes immunization programs and has well-established healthcare systems. Rising incidence of meningococcal infections, along with government initiatives and awareness campaigns, drives vaccine demand.
• The Asia Pacific region is witnessing substantial growth in the meningococcal vaccines market. Factors such as increasing healthcare expenditure, growing awareness, and expanding immunization programs contribute to market growth. Developing countries in the region present untapped opportunities for market players.
• The Middle East & Africa region presents both opportunities and challenges for the meningococcal vaccines market. Increasing investments in healthcare infrastructure, government initiatives, and rising awareness contribute to market growth.

Meningococcal Vaccines Market: Competitive Landscape

The meningococcal vaccines market is marked by the participation of well-established pharmaceutical companies, vaccine manufacturers, and biotechnology firms, creating a distinctive competitive landscape within the industry.

Key players focus on research and development activities, strategic collaborations, and mergers to enhance their market presence. Partnerships with government bodies, healthcare organizations, and distribution networks are crucial for market penetration. Continuous innovation, product differentiation, and effective marketing strategies play a vital role in gaining a competitive edge in this growing market. Some prominent manufacturers are as follows:

• Sanofi SA
• Novartis International
• GlaxoSmithKline plc
• Pfizer Inc.
• Nuron Biotech
• JN-International Medical Corporation
• Serum Institute of India Ltd
• Baxter International
• Biomed Pvt. Ltd

Some important developments with regard to meningococcal vaccines are as follows:

• In September 2022, Pfizer Inc. announced positive Phase 3 trial results (NCT04440163) for its pentavalent meningococcal vaccine (MenABCWY). The trial demonstrated non-inferiority to licensed vaccines for serogroups A, B, C, W, and Y. This investigational vaccine addresses all five serogroups, while currently licensed MenACWY and MenB vaccines are separate. The trial successfully met primary and secondary endpoints, assessing safety, tolerability, and immunogenicity in healthy individuals aged 10 to 25 years.
  • Polysaccharide

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Meningococcal Vaccines Market: Key Segments

By Type

• Menomune
• Mencevax
• NmVac4
• Others
  • Conjugate Vaccines
• Menactra
• Menveo
• NeisVac-C
• Nimenrix
• Meningitec
• Menjugate
• MenAfriVac
• NmVac4-DT
  • Combination Vaccines
• MenHibrix
• Menitorix
  • Men B Vaccines
• Bexsero
• Trumenba
  • Retail Pharmacies

By End User

• Hospital Pharmacies
• Others (online pharmacies, drug stores)

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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