Meningococcal Vaccines Market Size, Share, Growth Analysis, By Type(Conjugate vaccines and Polysaccharide vaccines), By End-User(Children and Adults) - Industry Forecast 2024-2031

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 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)'

One key driver of the 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.

A notable market trend in the 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.

North America dominated the 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.