The global meningococcal vaccine market is set to experience remarkable growth, with its valuation expected to rise from USD 3.95 billion in 2024 to an impressive USD 9.01 billion by 2034, reflecting a robust CAGR of 8.6% during the forecast period, according to industry analysis.
The surge in market growth is largely attributed to the increasing prevalence of meningitis worldwide. In 2019, there were approximately 2.51 million cases of meningitis globally, with 1.28 million cases reported in children under five years old. The severity and fatality associated with the disease have driven heightened public awareness and increased vaccination efforts, particularly in regions with well-established healthcare systems, including the United States, the United Kingdom, India, and China.
Meningococcal vaccines have become a cornerstone in preventing the disease and its complications. Governments and healthcare organizations worldwide are implementing immunization programs and awareness campaigns to encourage vaccination, thereby contributing to the market’s expansion. Technological advancements in vaccine development and production are also playing a significant role in addressing unmet needs and ensuring wider accessibility.
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Key Takeaways:
- Market Growth: The meningococcal vaccine market is projected to grow from $3.95 billion in 2024 to $9.01 billion by 2034, at a CAGR of 8.6%.
- Global Disease Burden: In 2019, meningitis affected 2.51 million people globally, with children under five years constituting a significant proportion of cases.
- Vaccination Trends: Countries with robust healthcare infrastructure are leading in vaccination adoption due to heightened awareness and preventive healthcare initiatives.
- Technological Advances: Innovations in vaccine development are enhancing efficiency and accessibility, supporting broader immunization efforts.
The meningococcal vaccine market is poised for strong growth, reflecting its critical role in combating a life-threatening disease and safeguarding public health on a global scale.
Growth Drivers
- Rising Incidence of Meningitis: In 2019, approximately 2.51 million cases of meningitis were reported worldwide, with a significant portion affecting children under five years old. This alarming statistic has heightened awareness and demand for vaccination.
- Increased Public Awareness: Concerns about the fatality associated with meningococcal disease are prompting more individuals and families to seek vaccination.
- Government Initiatives: Many countries are incorporating meningococcal vaccines into their national immunization schedules, targeting not only infants and young children but also adolescents and college students.
- Technological Advancements: The development of new and improved vaccines, including conjugate and multivalent vaccines, is enhancing the effectiveness of immunization efforts.
Regional Insights
- United States: The U.S. is expected to see substantial growth due to government mandates for vaccination in schools and colleges, ensuring high vaccination coverage.
- United Kingdom: The UK is projected to exhibit a CAGR of 9.8%, driven by its robust national immunization program that includes meningococcal vaccines.
- China: With a projected CAGR of 9.5%, China’s growth is supported by government investments in healthcare infrastructure and public awareness campaigns about meningococcal disease.
Competition Outlook
The competitive landscape of the global meningococcal vaccine market is primarily driven by innovations in vaccine formulations. The consumer base of the company in the industry totally depends on the efficiency, cost, and safety profile of the vaccine they formulate. Companies are also tying up with government and international organizations to expand their market reach and ensure wider vaccine accessibility.
Some of the most prominent companies in the industry are GlaxoSmithKline plc, Pfizer Inc., Sanofi Pasteur, Merck & Co., Inc., and Novartis AG.
Industry Updates
- In April 2024, Nigeria made history by introducing the world’s first 5-in-1 meningitis vaccine, Men5CV. The vaccine, recommended by WHO, aims to combat the deadly disease, with an initial campaign targeting over one million people aged 1-29.
- In November 2023, GlobalData reported significant changes in the meningococcal vaccine market with the launch of Pfizer’s Penbraya. The CDC’s Advisory Committee on Immunisation Practices recommended administering Penbraya alongside MenACWY and MenB vaccines for eligible patients aged 10 years and older.
- In July 2023, the Serum Institute of India announced that its multivalent meningococcal meningitis vaccine, designed to combat the five predominant strains in Africa, had received WHO prequalification. This approval made the vaccine eligible for procurement by UN agencies and Gavi, the Vaccine Alliance.
Leading Meningococcal Vaccines Brands
- GlaxoSmithKline plc
- Pfizer Inc.
- Sanofi Pasteur
- Merck & Co., Inc.
- Novartis AG
- CSL Limited
- Johnson & Johnson
- Bharat Biotech International Limited
- Serum Institute of India Pvt. Ltd.
- Sinovac Biotech Ltd.
- Biological E Limited
- Chongqing Zhifei Biological Products Co., Ltd.
- Beijing Tiantan Biological Products Co., Ltd.
- Hualan Biological Engineering Inc.
- Walvax Biotechnology Co., Ltd.
- Bio-Manguinhos (Fiocruz)
- Hangzhou Jinjiang Group Co., Ltd.
- Shenzhen Kangtai Biological Products Co., Ltd.
- Biomed Pvt. Ltd.
- GlaxoSmithKline Biologicals SA
Key Segments of Market Report
On the basis of product type:
The sector is bifurcated into polysaccharides and conjugates.
Based on the age group:
The industry is segmented into infants, children, adolescents, young adults, and adults.
On account of end users:
The sector is segmented into, pharmacies, community, clinics, public health agencies, and others.
As per region:
The industry is divided into North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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