MENINGOCOCCAL DISEASE TREATMENT MARKET ANALYSIS

Meningococcal disease is caused by the bacterium Neisseria meningitides, which is also called as meningococcus. This disease has high mortality rate if untreated but preventable through vaccine

The global meningococcal disease treatment market is estimated to be valued at US$ 3,754.1 million in 2021 and is expected to exhibit a CAGR of 12.6% over the forecast period (2021-2028).

Figure 1. Global Meningococcal Disease Treatment Market Share (%) in Terms of Value, By Region, 2021

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Increasing approval of drug is expected to drive the market growth over the forecast period

For instance, in 2018, GlaxoSmithKline Plc., a pharmaceutical company has received breakthrough therapy designation from the U.S. Food and Drug Administration for Bexsero for prevention of invasive meningococcal disease in children 2-10 years of age.

Furthermore, in 2016, Pfizer Inc., a pharmaceutical company, announced that European Medicines Agency (EMA) accepted the Marketing Authorization Application (MAA) for its TRUMENBA (Meningococcal Group B Vaccine) for review.

TRUMENBA is developed for the prevention of invasive meningococcal disease (IMD) caused by Neisseria meningitidis serogroup B (MnB) in individuals aged 10 years and older.

Figure 2. Global Meningococcal Disease Treatment Market Share (%), by Therapy Type, 2021

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Significant number of people travelling to sub-Saharan Africa is expected to propel growth of the global meningococcal disease market

Significant number of people travelling to sub-Saharan Africa is expected to propel growth of the global meningococcal vaccines market over the forecast period. According to World Economic Forum’s, 2018 report, 37.4 million tourist arrivals were recorded in Sub-Saharan Africa in 2017.

Moreover, recommendation of various regulatory bodies for meningococcal vaccination is also expected to aid in growth of the market. For instance, the Centers for Disease Control and Prevention recommends meningococcal vaccines for preteens, teens, and other people.

Global Meningococcal Disease Treatment Market– Impact of Coronavirus (Covid-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 114 million infected individuals worldwide as of March 2^nd 2021.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.

Furthermore, players operating in the global meningococcal disease treatment market are facing major challenges on various fronts due to the COVID-19 pandemic. The major challenges include supply of raw materials required for manufacturing of product due to irregularities in transportation facility. Moreover, distributors are experiencing irregular demand for products from the retailers due to increasing number of patients suffering from COVID-19 and other life threatening disorders.

Global Meningococcal Disease Treatment Market Restraint

High cost of meningococcal vaccination and low coverage of the same are expected to hinder the growth of the global meningococcal vaccines market

Moreover, meningococcal vaccination is optional in several countries, which is also expected to limit the market growth.

Key Players

Major players operating in the global meningococcal disease treatment market include GlaxoSmithKline Plc., Novartis AG, Sanofi Pasteur Inc., Wockhardt Ltd., Kent Pharmaceuticals, Stravencon Limited., F. Hoffmann-La Roche Ltd., Athlone Laboratories, and Pfizer Inc.