Meningococcal vaccines help prevent meningococcal disease, which is a serious bacterial infection caused by Neisseria meningitidis bacteria. The disease mainly affects the lining around the brain and spinal cord but can also cause blood infections. Without prompt treatment, meningococcal disease can potentially progress rapidly and cause death. Conjugate vaccines induce immunity and provide longer lasting protection against four serogroups responsible for most cases of meningococcal disease.
The meningococcal vaccines market is estimated to be valued at US$ 3.69 Bn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Meningococcal vaccines are used for active immunization against invasive meningococcal disease caused by Neisseria meningitidis bacteria. The increasing prevalence of meningococcal disease and growing awareness about vaccination are major drivers for the market.
Market key trends:
One of the key trends in the meningococcal vaccines market is the development of new multivalent conjugate vaccines. This allows protection against multiple serogroups through a single dose. For instance, Pfizer's Nimenrix and GlaxoSmithKline's Menveo protect against serogroups A, C, W-135 and Y. Such multivalent conjugate vaccines offer greater flexibility and wider protection compared to monovalent and bivalent formulations. This simplifies immunization programs and drives higher adoption.
Segment Analysis
The global meningococcal vaccines market is segmented based on type, route of administration, and end user. Based on type, the meningococcal vaccines market is segmented into polysaccharide vaccines, conjugate vaccines, and combination vaccines. The conjugate vaccines segment dominated the market in 2022. Conjugate vaccines are more effective than polysaccharide vaccines as they provide longer lasting immunity and protection among young children and infants as compared to polysaccharides vaccines. Moreover, conjugate vaccines also helps in herd immunity.
Key Takeaways
The Global Meningococcal Vaccines Market Size was valued at US$ 3.69 billion in 2023 and is expected to witness high growth, exhibiting a CAGR of 8.6% over the forecast period, due to increasing prevalence of meningococcal meningitis worldwide.
Regional analysis: North America dominated the global meningococcal vaccines market in 2023 accounting for nearly 34% of the global market share. This is majorly attributed to the growing incidences of meningococcal meningitis in countries like US and developed healthcare infrastructure. Asia Pacific is anticipated to be the fastest growing regional market owing to increasing awareness and improved access to vaccination in developing countries of the region.
Key players: Key players operating in the meningococcal vaccines market are Baxter International, Inc., Biomed Pvt. Ltd., GlaxoSmithKline plc, JN-International Medical Corporation, Novartis International AG., Pfizer, Inc., Sanofi SA, and Serum Institute of India Ltd. GlaxoSmithKline plc held approximately 15% of the global meningococcal vaccines market share in 2023.
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