Outlook on the Meningococcal Vaccines Global Market to 2030 - Increasing Immunization Programs and Government Initiatives is Driving Growth - ResearchAndMarkets.com
The global meningococcal vaccines market size is expected to reach USD 4.92 billion by 2030, registering a CAGR of 6.2%.
The "Meningococcal Vaccines Market Size, Share & Trends Analysis Report by Brand (Menactra, Menveo, Bexsero, Trumenba, Nimenrix), by Type, by Serotype, by Age Group, by Sales Channel, by Region and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global meningococcal vaccines market size is expected to reach USD 4.92 billion by 2030, registering a CAGR of 6.2%.
Increasing prevalence of meningitis is one of the major factors attributed to the market growth. For instance, according to ECDC, it was estimated that in 2017, 3,221 confirmed cases were observed in EU member states, wherein 58% cases were found in the U.K., France, Spain, and Germany. Moreover, a high incidence of meningitis disease is found in the "meningitis belt" of sub-Saharan Africa, and approximately 30,000 cases are reported every year in this region.
In addition, rising FDA approval for meningococcal vaccines is expected to boost the growth. For instance, in April 2020, Sanofi received FDA approval for its MenQuadfi Meningococcal Conjugate Vaccine for the prevention of invasive meningococcal disorders in individuals at least two years old. The increase in approval of novel vaccines is expected to improve meningococcal prevention which in turn, is anticipated to drive the market.
Initiatives undertaken by the government to combat the rising incidence of the disease are anticipated to boost the meningococcal vaccine market growth. For instance, from April 2019, Nimenrix was made available for free as a part of the National Immunization Program (NIP) in Australia for the age group 15 to 19 years. Nimenrix is a quadrivalent meningococcal vaccine that targets serogroups A, C, W & Y.
According to WHO, as of 2021, 24 of the 26 nations in the meningitis belt have introduced mass preventive campaigns targeting the age of 1 to 29 years. Moreover, around 13 nations have undertaken the vaccine in their national routine immunization programs. Such initiatives undertaken by countries having high disease burdens are expected to boost the market growth.
Non-profit organizations entering into strategic initiatives such as partnering, alliances, and others to improve access to new vaccines for vulnerable children are anticipated to drive the market. For instance, in September 2021, WHO and its partners announced the first-ever global strategy to defeat meningitis. This initiative aims to reduce epidemics of bacterial meningitis. Under this strategy, WHO goals to save more than 200,000 lives annually.
The availability of vaccines at lower prices in countries with an increasing prevalence of the meningococcal disease is anticipated to fuel the revenue of the manufacturers and drive the meningococcal vaccine market. For instance, under Meningitis Vaccine Project, MenAfriVac costs less than USD 0.5 per dose.
Meningococcal Vaccines Market Report Highlights
- Quadrivalent vaccines dominated the type segment owing to their ability to target four serogroups and the strong presence of vaccines such as Menveo, Menactra, and Nimenrix.
- The infants (0-2 years) segment accounted for the significant revenue share, by age group, in 2021. The increasing prevalence of meningitis in the age group 9 months to 11 years contributed to the segment growth.
- Asia Pacific region is expected to witness the highest CAGR over the forecast period. High unmet needs, rising healthcare expenditure, and a large population base in this region are likely to bolster the market.
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Meningococcal Vaccines Market Variables, Trends, and Scope
3.1 Penetration and Growth Prospect Mapping
3.2 Product Pipeline Analysis
3.3 Regulatory Framework
3.4 Market Driver Analysis
3.4.1 Rising Incidence Of Meningitis
3.4.2 Rising R&D In Meningococcal Vaccines
3.4.3 Increasing Immunization Programs and Government Initiatives
3.4.4 Growing Support by Healthcare Services In Providing Low-Cost Meningococcal Vaccine
3.5 Market Restraint Analysis
3.5.1 High-Cost Associated With Storage and Supply Of Vaccines
3.5.2 Challenges Associated With Vaccine Development
3.6 Swot Analysis, by Factor (Political & Legal, Economic, and Technological)
3.7 Porter's Five Forces Analysis
3.8 Major Deals and Strategic Alliances Analysis
Chapter 4. Meningococcal Vaccines Market: Segment Analysis, by Type 2017-2030 (USD Million)
Chapter 5. Meningococcal Vaccines Market: Segment Analysis, by Brand 2017-2030 (USD Million)
Chapter 6. Meningococcal Vaccines Market: Segment Analysis, by Age Group 2017-2030 (USD Million)
Chapter 7. Meningococcal Vaccines Market: Segment Analysis, by Serotype 2017-2030 (USD Million)
Chapter 8. Meningococcal Vaccines Market: Segment Analysis, by Sales Channel 2017-2030 (USD Million)
Chapter 9. Meningococcal Vaccines Market: Segment Analysis, by Region 2017-2030 (USD Million)
Chapter 10. Competitive Landscape
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