MENINGITIS VACCINES MARKET ANALYSIS

Meningitis Vaccines Market Size and Trends

Meningitis vaccines market is estimated to be valued at USD 3.72 Bn in 2024 and is expected to reach USD 5.81 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031.

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The meningitis vaccines market is expected witness positive growth due to rising awareness regarding various meningitis diseases and availability of extensive immunization programs worldwide. Furthermore, introduction of conjugate vaccines with extended protection and improved safety profiles are anticipated to boost demand for meningitis vaccines. Various initiatives by governments and non-profit organizations to provide low-cost vaccination in developing countries will further aid the market expansion over the forecast period. However, high costs involved in vaccination programs may hamper the market growth in the near future.

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Insights By Type- Brand Loyalty Drives the Quadrivalent Segment Growth

In terms of type, quadrivalent segment is expected to contribute the highest market share of 54.1% in 2024, primarily due to strong brand loyalty among both patients and healthcare providers. This loyalty stems from the effectiveness of quadrivalent vaccines in providing protection against multiple strains of viruses, leading to increased trust and preference for these products.

Insights By Brand- Expanded Brand Portfolio Drives MenQuadfi Segment Share

In terms of brand, MenQuadfi segment is expected to contribute the highest market share of 39.4% in 2024, due to its expanding product portfolio. Sanofi Pasteur has capitalized on the success of MenQuadfi, the first quadrivalent meningitis vaccine, by offering diverse formulations for various age groups, including a pediatric version (Vaxelis) and vaccines for adolescents and adults, effectively cornering the quadrivalent market segment.

Insights By Age Group- Payer Coverage of Infant Vaccines Fuels Market Share

In terms of age group, infants segment is expected to contribute the highest market share of 67.2% in 2024, due to favorable reimbursement policies. Health insurers and government programs prioritize coverage for essential vaccines like meningitis shots, which are included in the standard vaccination schedule without additional co-pays. This alleviates financial concerns for parents, promoting complete immunization for infants according to health guidelines.

Regional Insights

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Dominating Region: North America

North America is expected to account for the greatest revenue share of 38.3% in 2024, which is attributed to a strong presence of major manufacturers and a well-established healthcare infrastructure. The region has seen steady adoption of newer vaccines to combat outbreaks aggressively.

Fastest-Growing Region: Asia Pacific

Asia Pacific region is expected to achieve the fastest growth in 2024, with a 19.7% market share in 2024. This growth is fueled by increasing government emphasis on immunization programs and heightened awareness of diseases among the population.

Meningitis Vaccines Market Outlook for Key Countries

Advancements in vaccine formulations and regulatory approvals in the U.S.

The U.S. meningitis vaccines industry is primarily driven by advancements in vaccine formulations and regulatory approvals. Leading manufacturers are heavily investing in research and development (R&D) and forming strategic partnerships to enhance their market presence. This focus on innovation enables them to respond effectively to evolving disease threats and improve vaccination rates across diverse populations.

Prioritization of public health goals in China

The meningitis vaccines industry in China is experiencing robust growth, driven by a flourishing biologics sector and a strong focus on public health initiatives. Mass vaccination campaigns significantly boost volume sales, reflecting the government's commitment to enhancing healthcare access. This strategic prioritization aligns with broader public health goals, fostering increased demand for effective vaccine solutions.

India's Strategic Leadership in Meningitis Vaccination 

India is making efforts to combat meningitis prevalence through robust vaccination programs. The country's rising income levels enhance affordability, facilitating broader access to meningitis vaccines. This proactive approach not only aims to reduce disease incidence but also reflects a commitment to improving public health outcomes across the country.

Market Concentration and Competitive Landscape

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Top Strategies Followed by Meningitis Vaccines Market Players

• Established Players: Leading players like GlaxoSmithKline and Pfizer focuses extensively on R&D to develop novel vaccines. For example, GlaxoSmithKline invested over US$ 6 billion in 2019 on R&D focusing on vaccines for meningitis and other infectious diseases.
• Mid-Level Players: Companies like Serum Institute of India adopt cost-effective strategies to cater to price-sensitive markets. For example, Serum Institute develops vaccines that are 30-50% cheaper than large pharmaceutical companies while maintaining similar quality and efficacy. It also frequently collaborates with universities and smaller biotechnology companies to access new technologies and expertise.
• Small-Scale Players: Emerging companies specialize in niche or regional markets. For example, Bio-Manguinhos from Brazil focuses on developing affordable vaccines for Latin American countries. It has also partnered with the Pan American Health Organization to strengthen vaccine-preventable disease surveillance in the region.

Emerging Startups in the Meningitis Vaccines Market

• Innovative Technologies: Startups are developing novel technologies like intelligent vaccine patches and nanotechnology-based delivery systems. Anvio is creating smart patches embedded with microfluidic sensors to automate vaccine administration and monitor immunity levels.
• Sustainable Solutions: Companies like Phyle offer plant-based alternatives that are free of egg proteins, eliminating allergens from the production process. SpinBio aims to upcycle industrial waste into biodegradable materials for vaccine Their contributions could significantly reduce the industry's environmental footprint over time.
• Market Contribution: The meningitis vaccines market is experiencing significant growth, driven by increasing incidences of meningitis and a rising demand for innovative solutions. Startups play a crucial role in addressing critical unmet needs through novel business models and technological advancements.

Meningitis Vaccines Industry News

• On June 13, 2024, Gavi, the Vaccine Alliance, a public-private partnership established in 2000, aimed at increasing access to vaccines in low-income countries, announced that the lower-income countries it supports can now apply to introduce four new vaccines: a preventive Ebola vaccine, a human rabies vaccine for post-exposure treatment, a multivalent meningococcal conjugate vaccine, and a hepatitis B birth dose. This initiative aims to strengthen immunization efforts in these areas and enhance health outcomes.
• On April 16, 2024, GSK plc, a leading global biotechnology firm, announced that the U.S. Food and Drug Administration (FDA) accepted the review of its Biologics License Application (BLA) for the 5-in-1 meningococcal ABCWY (MenABCWY) vaccine candidate
• On April 15, 2024, Serum Institute of India Pvt. Ltd., a biotechnology company, announced a significant agreement with the University of Oxford to develop a Meningitis-B vaccine. This collaboration aims to create a chimeric protein-based vaccine that addresses the shortcomings of existing Men-B vaccines regarding efficacy, safety, and coverage.
• In October 2023, Pfizer, Inc., a global pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) approved PENBRAYA, the first and only pentavalent vaccine designed to protect against the most prevalent serogroups responsible for meningococcal disease in adolescents and young adults aged 10 to 25 years

Key Takeaways from Analyst

• Meningitis vaccines market is expected to witness strong growth over the forecast period driven by the increasing incidence of meningitis disease globally.
• Rising awareness about the prevention of meningitis through vaccination programs across the world would boost the demand for meningitis vaccines. Moreover, growing technological advancements in vaccine development aid in introducing more innovative and effective vaccines in the market.
• North America currently dominates the market owing to a well-established healthcare infrastructure and routine immunization programs for children. However, Asia Pacific is likely to emerge as the fastest-growing region in the meningitis vaccines industry due to the increasing spending on immunization in populous countries like India and China.

Market Report Scope

Market Dynamics

Market Driver - Rise in the incidence of meningitis

Meningitis is a potentially fatal inflammation of the protective membranes covering the brain and spinal cord known as meninges. Rising incidence of meningitis can boost demand for meningitis vaccines, thus, driving growth of the global meningitis vaccines market. For instance, according to data published by Elsevier Inc., a Netherlands-based academic publishing company, in April 2021, more than 2.5 million cases and 236,000 deaths due to meningitis were reported in 2019 globally.

Market Challenge - Stringent regulatory environment

The meningitis vaccines industry faces stringent regulatory frameworks, making the approval process for new vaccines complex and costly. Developers must navigate extensive clinical trials to prove safety, efficacy, and quality, with any adverse reactions potentially delaying approvals. Evolving regulatory standards further complicate compliance, hindering innovation and increasing risks associated with bringing new vaccines to market.

Market Opportunity - Alternative vaccine technologies

Alternative vaccine technologies are transforming the meningitis vaccines industry by offering innovative methods beyond traditional live pathogen cultivation. Approaches like recombinant subunit, conjugate, DNA, and mRNA vaccines enhance safety and enable cost-effective large-scale production. Additionally, novel delivery systems such as nanotechnology and intranasal administration facilitate broader coverage and targeted serotype vaccines, potentially expanding preventable strains significantly.

Market Segmentation

•  Type Insights
• • Bivalent
  • Quadrivalent
  • Others
•  Brand Insights
• • MenQuadfi
  • Menveo
  • Trumenba
  • Bexsero
  • Others
•  Age Group Insights
• • Infants
  • Adults
•  Serotype Insights
• • Serotype A
  • Serotype B
  • Serotype C
  • Serotype W-135
  • Others
•  Sales Channel Insights
• • Private
  • Public
• Regional Insights
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • Pfizer Inc.
  • Sanofi
  • GSK plc.
  • Serum Institute of India Ltd.
  • Merck & co., Inc.
  • Walvax Biotechnology Co., Ltd.
  • Icepta Pharmaceuticals Ltd.
  • Hualan Biological Engineering Inc.