Meningococcal Vaccines Industry Overview
The global meningococcal vaccines market size is expected to reach USD 4.92 billion by 2030, registering a CAGR of 6.2%, according to a new report by Grand View Research, Inc. Increasing prevalence of meningitis is one of the major factors attributed to the market growth. For instance, according to ECDC, it was estimated that in 2017, 3,221 confirmed cases were observed in EU member states, wherein 58% cases were found in the U.K., France, Spain, and Germany. Moreover, a high incidence of meningitis disease is found in the “meningitis belt” of sub-Saharan Africa, and approximately 30,000 cases are reported every year in this region.
Meningococcal Vaccines Market Segmentation
Grand View Research has segmented the meningococcal vaccines market based on type, brand, serotype, age group, sales channel, and region:
Based on the Type Insights, the market is segmented into Bivalent, Quadrivalent, Others.
- The Quadrivalent vaccines accounted for the largest revenue share in 2021 owing to widely used brands such as Menactra, Menveo, and Nimenrix.
- Moreover, approval of new vaccines to protect people against meningococcal vaccines is anticipated to fuel the growth of this market. For instance, in April 2020, Sanofi received U.S. FDA approval for MenQuadfi. It is a quadrivalent meningococcal (Groups A, C, Y, W) conjugate vaccine for the prevention of invasive meningococcal disease in people 2 years & older.
- Bivalent vaccines held the second largest market share owing to the high adoption rate coupled with the low cost and inclusion of these vaccines in various programs undertaken by governments of different countries.
Based on the Brand Insights, the market is segmented into Menactra, Menveo, Nimenrix, Trumenba, Bexsero, Others.
- Bexsero accounted for the largest revenue share in 2021 owing to fewer doctor visits, lower costs and reduced doses. Bexsero is licensed in more than 40 countries, such as New Zealand, Argentina, Chile, Australia, Israel, Uruguay, Turkey, and Europe, and is intended for individuals aged 2 months & above.
- Trumenba is expected to grow at the fastest rate over the forecast period. The growth of the vaccine is mainly driven by the increasing awareness of the disease and increasing marketing approval across the globe.
Based on the Serotype Insights, the market is segmented into Serotype A, Serotype B, Serotype C, Serotype W-135, Serotype Y.
- Serotype B segment dominated the global market in 2021. This can be attributed to the presence of strong vaccines such as Trumenba & Bexsero available in the market and the increasing disease burden of MenB worldwide.
- In North America and the European region, Serotype B is the predominant agent causing meningococcal disease. It causes around half of the total reported cases of meningococcal disease in these regions.
- The serotype C segment is anticipated to experience the fastest growth over the forecast period. The growth of the segment can be attributed to the high effectiveness of vaccines and the increasing inclusion of vaccines in vaccination programs of countries.
Based on the Age Group Insights, the market is segmented into Infants (0 to 2 years), Children And Adults (2 years & above).
- The infants segment is expected to be the fastest-growing segment over the forecast period owing to the rising prevalence of meningitis.
- For instance, according to European Centre for Disease Prevention and Control (ECDC), in 2017, IMD incidence was observed to be the highest in infants. In Europe, the prevalence was found to be 8.2 confirmed cases per 100,000 children of age below 1 year.
- The children & adults segment held the largest market share owing to initiatives undertaken by healthcare organizations to vaccinate the adult population and ongoing clinical trials to develop novel vaccines for teenagers.
Based on the Sales Channel Insights, the market is segmented into Private, Public.
- The public sales channel segment held the largest market share and is anticipated to maintain its dominance throughout the forecast period.
- A large share of the segment can be attributed to the inclusion of major meningococcal vaccine brands, such as Trumenba, Bexsero, Menactra, Nimenrix, Menveo, and others in immunization programs in a major market for vaccination against meningococcal infections.
- The private sales channel is mainly driven by increasing demand for meningococcal vaccines in developing countries. Moreover, increasing disposable income, increasing outbound traveling from work, study, pilgrims for Mecca and Umrah, and increasing awareness is driving the demand for vaccination against meningococcal vaccines through private sales channels.
Meningococcal Vaccines Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The key players that dominated the global market in 2021 include GlaxoSmithKline plc and Pfizer Inc. The market is expected to experience a shift in the dynamics over the forecast period due to the presence of strong pipeline products. Moreover, companies are involved in developing novel vaccines for meningococcal disease and expanding the application of existing vaccines in terms of age groups.
Some prominent players in the global meningococcal vaccines market include
- Pfizer Inc.
- Sanofi
- Serum Institute of India Ltd.
- GlaxoSmithKline plc.
- Merck & co., Inc.
- Walvax Biotechnology Co., Ltd.
Order a free sample PDF of the Meningococcal Vaccines Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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