Product ID: SQMIG35I2154
Report ID:
SQMIG35I2154 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
59 |
Figures:
75
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.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Product ID: SQMIG35I2154