The Meningococcal Vaccines Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Meningococcal Vaccines Global Market Report 2024, The meningococcal vaccines market size has grown rapidly in recent years. It will grow from $3.57 billion in 2023 to $3.94 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to disease incidence, global travel trends, healthcare infrastructure, epidemic preparedness, health insurance coverage.
The meningococcal vaccines market size is expected to see strong growth in the next few years. It will grow to $5.69 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to emergence of new strains, increasing globalization, growing healthcare investments, health initiatives, changing regulatory landscape. Major trends in the forecast period include personalized vaccines, digital vaccination records, gene editing technologies, multi-valent vaccines, subscription-based vaccine models.
An increase in healthcare spending is expected to propel the growth of the meningococcal vaccine market going forward. Healthcare refers to a residential care institution, nursing facility, intermediate care facility for people with mental illnesses, or intermediate care facility for people with mental retardation. The high expense of new vaccine generations compared to their predecessors has become a key factor in discussions about whether the benefits of the new vaccinations justify their prices. Assessing the complete social and economic advantages of vaccination is becoming an increasingly important area of investigation in the literature on valuing vaccination. For instance, in May 2022, according to an article published by the American Medical Association, a US-based professional association and lobbying group of physicians and medical students, healthcare spending in the United States had risen by 9.7% to $4.1 trillion, or $12,530 per person. This pace of growth is significantly higher than 2019’s (4.3%). Therefore, an increase in healthcare spending is driving the growth of the meningococcal vaccine market.
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The meningococcal vaccines market covered in this report is segmented –
1) By Vaccine Type: Meningococcal Conjugate Vaccine, Polysaccharide, Subcapsular Vaccine
2) By Serotype: Men Acwy, Men B/Bc, Men C
3) By Age Group: Infants, Children, Adolescents and Young Adults, Adults
4) By Distribution Channel: Pharmacies, Community Clinics, Public Health Agencies, Other Channels
5) By End user: Hospitals, Research, Academic Institutes
Major companies operating in the meningococcal vaccines market are focused on partnerships to increase their profitability in the market. Meningococcal vaccine partnerships entail collaborative efforts among pharmaceutical firms, research institutions, government agencies, and non-profits to collectively advance the development, production, distribution, or enhancement of meningococcal vaccines. For instance, in July 2023, Serum Institute of India, an India-based biotechnology company collaborated with PATH, a US-based non-profit health organization to develop MenFive. The Serum Institute of India has gained WHO prequalification for MenFive, a multivalent meningococcal meningitis vaccine. MenFive, the initial conjugate vaccine of its kind, targets the primary causes of meningococcal meningitis in Africa. It follows the success of MenAfriVac, introduced in 2010, which eradicated serogroup A meningococcal meningitis outbreaks in the African meningitis belt. MenFive aims to prevent fatalities and disabilities from the disease. SII’s pioneering vaccines contribute to the ongoing battle against meningococcal meningitis in Africa.
The meningococcal vaccines market report table of contents includes:
1. Executive Summary
2. Meningococcal Vaccines Market Characteristics
3. Meningococcal Vaccines Market Trends And Strategies
4. Meningococcal Vaccines Market – Macro Economic Scenario
5. Global Meningococcal Vaccines Market Size and Growth
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31. Meningococcal Vaccines Market Other Major And Innovative Companies
32. Global Meningococcal Vaccines Market Competitive Benchmarking
33. Global Meningococcal Vaccines Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Meningococcal Vaccines Market
35. Meningococcal Vaccines Market Future Outlook and Potential Analysis
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