USD 3.3 billion
Global Meningococcal Vaccines Market Size, Share, Growth Analysis, By Type(Conjugate vaccines and Polysaccharide vaccines), By End-User(Children and Adults) - Industry Forecast 2024-2031
Report ID:
SQMIG35I2154 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
59 |
Figures:
75
Global Meningococcal Vaccines Market Insights
Global Meningococcal Vaccines Market size was valued at USD 3.3 billion in 2022 and is poised to grow from USD 3.5 billion in 2023 to USD 5.62 billion by 2031, growing at a CAGR of 6.1% in the forecast period (2024-2031).
The market for meningococcal vaccines is expected to experience significant growth due to the increasing prevalence of meningitis. The Centers for Disease Control and Prevention (CDC) estimates that approximately 1.2 million cases of bacterial meningitis will occur worldwide annually. This rise in cases, coupled with the implementation of immunization programs, heightened awareness about the disease, and increased research and development activities related to meningococcal vaccines, are all factors that will contribute to the expansion of the market in the forecast period. Government and regulatory authorities have taken initiatives to combat the growing prevalence of meningitis, resulting in a positive year-on-year growth rate in 2022. For example, in May 2019, the Ministry of Health of Ireland authorized the administration of the MenACWY vaccine to thousands of teenagers in response to the rising incidence of meningitis in 2018. To promote continuous research and the development of new approaches for disease prevention, various government and non-government organizations, including the National Meningitis Association (NMA), Meningitis Research Foundation of Canada, and Meningitis B Action Project, are organizing campaigns and awareness programs. These efforts are expected to further drive the growth of the meningococcal vaccine market in the coming years. The presence of non-profit organizations providing support for research projects, training for healthcare professionals, and assistance for patients will also contribute to market acceleration. In August 2021, DoSomething.Org and the National Foundation for Infectious Diseases (NFID) launched the "Complete What's Missing Program" to educate young individuals about the importance of Meningococcal Disease Prevention. Furthermore, the market growth will be fueled by the introduction of phase III vaccines in the pipeline that are expected to be commercialized during the forecast period. For example, Pfizer, Inc. initiated phase III clinical trials of PF-06886992, a pentavalent meningococcal vaccine candidate (MenABCWY), to assess its safety, immunogenicity, and tolerability compared to licensed meningococcal vaccines in adolescents and young adults. Additionally, the Serum Institute of India Pvt. Ltd. is currently conducting phase III clinical trials of Menactra, a conjugate vaccine.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Conjugate vaccines
Fastest Growth
Polysaccharide vaccines
Growth Rate
6.1% CAGR
Global Meningococcal Vaccines Market ($ Bn)
Country Share for North America Region (%)
Global Meningococcal Vaccines Market Size By Type ($ Bn)
Global Meningococcal Vaccines Market Size By Type (%)
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Global Meningococcal Vaccines Market Segmental Analysis
Global Meningococcal Vaccines market is segmented by type, end-user, and region. Based on type, the market can be segmented into conjugate vaccines, and polysaccharide vaccines. Based on End-User, the market is segmented into children, and adults. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Meningococcal Vaccines Market Analysis by Type
By type, the market can be segmented into conjugate vaccines and polysaccharide vaccines. Conjugate vaccines dominate the market due to their high efficacy and longer-lasting immunity against meningococcal disease. These vaccines are recommended by healthcare organizations, especially for infants and adolescents, and have a higher market share as compared to Polysaccharide vaccines.
On the other hand, the Polysaccharide vaccines segment is expected to grow at a slower rate due to their shorter-term protection against meningococcal disease. These vaccines are recommended only for adults and are less commonly used as compared to Conjugate vaccines.
Meningococcal Vaccines Market Analysis by End-User
By End-User, the market can be segmented into children and adults. The adult segment dominates the market due to the higher incidence of meningococcal disease in adults, especially those with underlying medical conditions or those who travel to areas with a high incidence of the disease. Additionally, the vaccine is recommended for adults who are at higher risk of contracting the disease.
The children segment is expected to be the fastest-growing due to the increasing awareness about the disease and the growing emphasis on vaccination as a preventive measure. Routine vaccination schedules recommend the meningococcal vaccine for infants, and some countries also require vaccination for school entry.
Global Meningococcal Vaccines Market Size By Type, 2023 (%)
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Global Meningococcal Vaccines Market Regional Insights
North America dominated the global meningococcal vaccines market. The region's dominance can be attributed to several factors, including well-established healthcare infrastructure, high healthcare expenditure, and strong government initiatives for disease prevention and immunization. Additionally, the presence of major pharmaceutical companies and research institutions focused on vaccine development contributes to the growth of the market in this region. Furthermore, increasing awareness among the population about the importance of vaccination and the rising prevalence of meningitis are driving the demand for meningococcal vaccines in North America.
On the other hand, the Asia-Pacific (APAC) region is experiencing significant growth in the meningococcal vaccines market. Factors such as a large population base, growing healthcare expenditure, and increasing awareness about meningococcal diseases are contributing to the market growth in APAC. Countries like India and China have witnessed a rise in the incidence of meningitis, leading to an increased demand for vaccines. Additionally, the expansion of immunization programs and government initiatives to control the spread of meningococcal diseases are further driving the market growth in the APAC region.
Global Meningococcal Vaccines Market By Region, 2024-2031
- Largest
- Fastest
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Global Meningococcal Vaccines Market Dynamics
Meningococcal Vaccines Market Drivers
Increasing prevalence of meningitis worldwide
- One key driver of the global meningococcal vaccines market is the increasing prevalence of meningitis worldwide. According to the Centers for Disease Control and Prevention (CDC), there is a projected annual occurrence of approximately 1.2 million cases of bacterial meningitis globally. This rising incidence of meningitis is fueling the demand for meningococcal vaccines as healthcare organizations, governments, and individuals prioritize preventive measures. The need to combat the growing burden of meningitis is a significant driver propelling the growth of the meningococcal vaccines market.
Meningococcal Vaccines Market Restraints
High cost associated with the development and distribution
- A significant restraint in the global meningococcal vaccines market is the high cost associated with the development and distribution of vaccines. The extensive research and clinical trials required for vaccine development, along with stringent regulatory processes, contribute to the overall cost. Additionally, the need for cold chain storage and transportation adds to the expenses. The high cost of meningococcal vaccines may limit accessibility, particularly in low-income regions, hindering their widespread adoption and impacting the market growth to some extent.
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Global Meningococcal Vaccines Market Competitive Landscape
The global meningococcal vaccines market is characterized by a mix of established pharmaceutical companies, emerging biotechnology firms, and research institutions. Market players are focusing on strategic collaborations, partnerships, and acquisitions to strengthen their product portfolios and expand their geographical presence. Furthermore, there is a growing emphasis on research and development activities to introduce innovative and advanced vaccine formulations. Companies are also investing in marketing initiatives and awareness campaigns to enhance their brand visibility and gain a competitive edge in the meningococcal vaccines market.
Meningococcal Vaccines Market Top Player’s Company Profiles
- Pfizer Inc. (US)
- GlaxoSmithKline plc (UK)
- Sanofi Pasteur (France)
- Merck & Co., Inc. (US)
- Serum Institute of India Pvt. Ltd. (India)
- Novartis AG (Switzerland)
- Janssen Pharmaceuticals, Inc. (US)
- Bharat Biotech International Ltd. (India)
- Mitsubishi Tanabe Pharma Corporation (Japan)
- Biomed Pvt. Ltd. (India)
- Walvax Biotechnology Co., Ltd. (China)
- Bavarian Nordic A/S (Denmark)
- Biological E Limited (India)
- Hualan Biological Engineering Inc. (China)
- Beijing Tiantan Biological Products Corporation Limited (China)
- Chongqing Zhifei Biological Products Co., Ltd. (China)
- GSK Biologicals SA (Belgium)
- Incepta Pharmaceuticals Ltd. (Bangladesh)
- Panacea Biotec Ltd. (India)
- AstraZeneca plc (UK)
Meningococcal Vaccines Market Recent Developments
- In May 2023, Sanofi Pasteur announced a collaboration with the Global Alliance for Vaccines and Immunization (GAVI) to provide meningococcal vaccines to low-income countries.
- In April 2023, GlaxoSmithKline announced the launch of a new meningococcal vaccine, MenBrio, for the prevention of serogroup B meningococcal disease.
- In March 2023, Pfizer and BioNTech announced the launch of a new vaccine to protect against meningococcal disease caused by serogroup B.
- In January 2023, Moderna announced a partnership with the Coalition for Epidemic Preparedness Innovations (CEPI) to develop and manufacture vaccines against emerging infectious diseases, including meningococcal disease.
- In September 2022, Janssen Pharmaceuticals received FDA approval for its MenQuadfi meningococcal vaccine, which provides protection against four meningococcal disease serogroups.
Global Meningococcal Vaccines Key Market Trends
- A notable market trend in the global meningococcal vaccines market is the increasing focus on developing combination vaccines. Combination vaccines offer the advantage of protecting against multiple strains or types of meningococcal infections in a single shot. This approach simplifies the immunization process and improves compliance, especially in regions with limited access to healthcare facilities. The development of combination vaccines is expected to streamline vaccination programs, reduce the number of doses required, and enhance overall vaccine coverage, driving the growth of the meningococcal vaccines market.
Global Meningococcal Vaccines Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global meningococcal vaccines market analysis, the market is driven by factors such as the increasing prevalence of meningitis, rising awareness about the disease, and growing immunization programs worldwide. Government initiatives, coupled with the efforts of non-profit organizations, are further fueling the market growth. However, the market faces challenges due to the high costs associated with vaccine development and distribution. The competitive landscape is characterized by key players engaging in strategic collaborations and investing in research and development activities. Additionally, a key market trend is the focus on developing combination vaccines to simplify immunization processes and improve vaccine coverage. Overall, the market is expected to experience significant growth in the coming years as the demand for meningococcal vaccines continues to rise globally.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.3 billion |
| Market size value in 2031 | USD 5.62 billion |
| Growth Rate | 6.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Meningococcal Vaccines Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Meningococcal Vaccines Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Meningococcal Vaccines Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Meningococcal Vaccines Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Meningococcal Vaccines Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Meningococcal Vaccines Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Meningococcal Vaccines Market Report Snapshots
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