What is the global market size of Meningococcal Vaccines Market?

Global Meningococcal Vaccines Market size was valued at USD 2.9 billion in 2021 and is poised to grow from USD 3.30 billion in 2022 to USD 4.98 billion by 2030, growing at a CAGR of 6.1% during the forecast period (2023-2030).

Who are the key vendors in the Global Meningococcal Vaccines Market?

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. '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)'.

What is the key driver of Global Meningococcal Vaccines Market?

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.

What is the key market trend for Global Meningococcal Vaccines Market?

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.

Which region accounted for the largest share in Global Meningococcal Vaccines Market?

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.

Meningococcal Vaccines Market Worldwide

Meningococcal Vaccines Market Regional Insights

As per meningococcal vaccines market outlook, North America dominated the overall market in terms of revenue in 2023 with a 57.0% share. Positive suggestions & support from governments and high R&D investme5nts are some of the factors driving the North America region. Furthermore, improved healthcare infrastructure and awareness campaigns within the sector are expected to propel market growth. Marketers are also actively involved in awareness campaigns to increase uptake of meningococcal vaccine in the region. For example, in August 2021, GSK plc. launched the ASK2BSure campaign to encourage parents to visit doctors for meningitis B vaccination for their children.

The Asia Pacific region in the market is anticipated to grow significantly during the forecast period. This is due to the high incidence of meningococcal virus transmission leading to a significant increase in the number of clinical programs for effective meningococcal vaccines. The increasing number of children, increasing government initiatives to combat the spread of the disease contribute to the growth of meningococcal vaccines in this region. Moreover, non-profit organizations provide information to people and health professionals. Thus, the intake of antimeningococcal drugs is expected to increase.

FAQs

Meningococcal Vaccines Market size was valued at USD 3.5 Billion in 2023 and is poised to grow from USD 3.71 Billion in 2024 to USD 5.96 Billion by 2032, growing at a CAGR of 6.1% during the forecast period (2025-2032).

The meningococcal vaccines market is highly competitive, with leading players focusing on innovation, strategic partnerships and market expansion to maintain their leadership. Leading companies engaged in research and development (R&D) to create vaccines extensive. For example, Serum has partnered with PATH-WHO to increase access to meningitis vaccines in Africa. 'Pfizer Inc. ', 'GlaxoSmithKline plc ', 'Sanofi S.A. ', 'Merck & Co., Inc. ', 'Novartis AG ', 'CSL Limited ', 'Serum Institute of India Pvt. Ltd. ', 'Biomed Pvt. Ltd. ', 'Bharat Biotech ', 'Biological E. Limited ', 'Hualan Biological Engineering Inc. ', 'Walvax Biotechnology Co., Ltd. ', 'Chongqing Zhifei Biological Products Co., Ltd. ', 'Emergent BioSolutions Inc. ', 'Incepta Vaccine Ltd. ', 'Panacea Biotec Ltd. ', 'LG Chem Ltd. ', 'Mitsubishi Tanabe Pharma Corporation ', 'Valneva SE ', 'Vaxart, Inc.', 'In March 2023, GSK plc achieved positive results for the MenABCWY combination vaccine candidate in a pivotal phase 3 clinical trial. In individuals aged 10-25 years, the vaccine will be administered as two doses. ', 'In September 2022, Janssen Pharmaceuticals received FDA approval for its Meniquadfi meningococcal vaccine, which protects against four meningococcal disease serogroups. ', 'In May 2021, Bio-Manguinhos and Emergex (UK) signed the agreement. The agreement establishes a framework for future clinical trials, meningococcal vaccine development, COVID-19 vaccine development, sales and marketing and distribution within the Brazilian Ministry of National Health. '

One of the major drivers for the meningococcal vaccines market is the rising incidence of meningococcal diseases across the globe. Meningitis and septicemia due to Neisseria meningitis have high mortality and severe long-term effects, such as neurological damage, which leads health care providers to prioritize prevention through vaccination. Regions, especially Africa Sub-Saharan Africa, known as the "meningitis belts," reports widespread infection.

Shift Toward Combination Vaccines: A notable meningococcal vaccines market trend is the increasing acceptance of combination vaccines that protect against multiple meningococcal strains. The demand for quadrivalent vaccines targeting serogroups A, C, W, and Y is increasingly preferred due to their broader coverage and reduced need for multiple doses. This shift addresses logistical challenges and improves immunization adherence, enhancing overall healthcare outcomes.