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.
In addition, rising FDA approval for meningococcal vaccines is expected to boost the growth. For instance, in April 2020, Sanofi received FDA approval for its MenQuadfi Meningococcal Conjugate Vaccine for the prevention of invasive meningococcal disorders in individuals at least two years old. The increase in approval of novel vaccines is expected to improve meningococcal prevention which in turn, is anticipated to drive the market.
Initiatives undertaken by the government to combat the rising incidence of the disease are anticipated to boost the meningococcal vaccine market growth. For instance, from April 2019, Nimenrix was made available for free as a part of the National Immunization Program (NIP) in Australia for the age group 15 to 19 years. Nimenrix is a quadrivalent meningococcal vaccine that targets serogroups A, C, W & Y.
According to WHO, as of 2021, 24 of the 26 nations in the meningitis belt have introduced mass preventive campaigns targeting the age of 1 to 29 years. Moreover, around 13 nations have undertaken the vaccine in their national routine immunization programs. Such initiatives undertaken by countries having high disease burdens are expected to boost the market growth.
Non-profit organizations entering into strategic initiatives such as partnering, alliances, and others to improve access to new vaccines for vulnerable children are anticipated to drive the market. For instance, in September 2021, WHO and its partners announced the first-ever global strategy to defeat meningitis. This initiative aims to reduce epidemics of bacterial meningitis. Under this strategy, WHO goals to save more than 200,000 lives annually.
The availability of vaccines at lower prices in countries with an increasing prevalence of the meningococcal disease is anticipated to fuel the revenue of the manufacturers and drive the meningococcal vaccine market. For instance, under Meningitis Vaccine Project, MenAfriVac costs less than USD 0.5 per dose.
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, the market is segmented into Bivalent, Quadrivalent, and Others.
- 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.
- 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, the market is segmented into Menactra, Menveo, Nimenrix, Trumenba, Bexsero, and 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.
- rumenba 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 Age Group, the market is segmented into Infants (0 to 2 years), and 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.
- 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. For instance, in February 2020, ACIP released recommended Immunization Schedule for adults, with changes to the administration of the meningococcal B conjugate vaccines.
Based on the Serotype, the market is segmented into Serotype A, Serotype B, Serotype C, Serotype W-135, and Serotype Y.
- Serotype B is the predominant agent causing meningococcal disease. It causes around half of the total reported cases of meningococcal disease in these regions. Moreover, increasing research activities to develop pentavalent vaccines including protection against serotype B is further expected to increase the market growth over the forecast period.
- 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 Sales Channel, the market is segmented into Private, and 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.
Key Companies & 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. For instance, in June 2020, Pfizer Inc. started Phase III clinical trials of PF-06886992, which is a pentavalent meningococcal vaccine candidate (MenABCWY). 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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