The global meningococcal vaccine market size is estimated to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the owing to the increasing prevalence of meningitis.
Meningococcal vaccines help prevent meningococcal disease, an illness caused by Neisseria meningitidis bacteria. The rising pervasiveness of meningitis is one of the key factors expected to drive the market. Every year around 1.80 million cases of the disease are reported globally, a study published the Centers for Disease Control and Prevention (CDC). At the World Health Assembly by Eastern Mediterranean & African regions, a global program on “Defeating meningitis by 2030” was launched in May 2018 to structure a roadmap for prevention of meningitis by focusing on areas for enhanced and research activities.
Training to healthcare professionals, offering information & support to patients, and involvement of various non-profit organizations in providing funds for research projects are the key factors influencing the market. Around USD 27.0 million investment in scientific researches and 161 research grants awarded by Meningitis Research Foundation as part of its efforts to make people aware and expertise together to face the challenges in prevention of meningitis. Additionally, a vaccine called MenACYW manufactured by Sanofi is in phase III clinical trial and the rapid development of phase III vaccines is one of the main factors positively impacting the market. Moreover, Serum Institute of India Pvt. Ltd. is currently working on a conjugate vaccine to deliver it at an affordable price.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing pervasiveness of meningitis and rising development of vaccines for the disease treatment are major factors expected to drive the market growth.
- Rising government initiatives and regulatory authorities for awareness campaign to control the rising meningitis cases is expected to fuel the market expansion.
- Lack of awareness of the disease among a large number of the global population and in developing countries in particular is estimated to restrain the market growth.
- Adverse reactions of the meningococcal vaccine may affect decision making of a particular treatment, which is expected to hinder the market growth.
Key Players
- Pfizer Inc.
- Novartis International AG
- Sanofi
- Serum Institute of India Ltd.
- GlaxoSmithKline plc.
- Merck & Co., Inc.
Competitive Landscape
Key players competing in the global meningococcal vaccine market are Pfizer Inc.; Novartis International AG; Sanofi; Serum Institute of India Ltd.; GlaxoSmithKline plc; and Merck & Co., Inc. One of the key development of the market can be traced back to the launching of a new molecular vaccine named PF-06886992 was developed by Pfizer for Serogroups ABCWY meningococcal infections, which is in Phase II clinical trials currently.
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