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MENINGOCOCCAL VACCINES MARKET ANALYSIS

Meningococcal Vaccines Market, By Type (Polysaccharide Vaccines, Conjugate Vaccines, Combination Vaccines, Other), By Sales Channel (Public and Private), By Age Group (Infants and Children and Adults), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

  • Published In : Jun 2024
  • Code : CMI3864
  • Pages :176
  • Formats :
      Excel and PDF
  • Industry : Biotechnology

Meningococcal Vaccines Market Size and Trends

Global meningococcal vaccines market is estimated to be valued at USD 4.10 Bn in 2024 and is expected to reach USD 8.11 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.

Meningococcal Vaccines Market Key Factors

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Rising prevalence of meningococcal meningitis globally can boost demand for effective vaccination and immunization against the disease. Government initiatives for immunization and availability of expanded vaccine coverage under national immunization programs in various countries can also drive the market growth.

The market is witnessing trends like new product launches targeted at providing protection against additional serogroups of N. Meningitidis. Major manufacturers are investing in development of vaccines for serogroup B meningococcal disease with goal to provide broader protection. Moreover, combination vaccines providing protection against multiple serogroups in single dose are also gaining popularity. This is expected to boost vaccination uptake and compliance.

Growing prevalence of meningococcal diseases across the globe

Growing prevalence of meningococcal diseases across the world can drive the market growth. According to the World Health Organization (WHO), meningococcal meningitis causes over 1.2 million cases and approximately 135,000 deaths worldwide annually. The bacterium Neisseria meningitidis can cause severe sepsis and meningitis with high mortality rates, if not treated promptly. According to the data from WHO, the highest rates of meningococcal diseases are reported from sub-Saharan Africa, with the 'Meningitis Belt' extending from Senegal to Ethiopia being the most affected region. Countries in this belt experience regular epidemics, with over 800,000 cases and over 7500 deaths reported in the 2020-2021 meningitis season. However, other parts of world like Europe, North America and Brazil are also witnessing increasing incidence of different meningococcal serogroups, thus, leading to growing disease burden. This includes recent serogroup B epidemics in the U.K and serogroup W outbreaks in Latin America. Rising global prevalence of meningococcal diseases has made vaccination a public health priority. All the major vaccine bodies including WHO now recommend inclusion of meningococcal vaccines in routine childhood immunization programs along with catch-up campaigns for high-risk groups. For instance, on March 28, 2024, The Centers for Disease Control and Prevention issued a warning about rise in serious meningococcal disease in the U.S., mainly caused by a type called Neisseria meningitidis serogroup Y. Last year, there were 422 cases reported, the highest since 2014, and as of March 25, 2024, there have been 143 cases reported. A specific strain, ST-1466, is behind most of these cases, affecting mostly people aged 30-60, Black or African American individuals, and those with HIV. This strain often causes blood infections instead of meningitis, and the death rate has risen to 18%. Healthcare providers are being urged to be vigilant, especially among high-risk groups, and ensure people at risk, including those with HIV, are vaccinated on time.

Meningococcal Vaccines Market Concentration By Players

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Increasing government support and funding

Growing governmental support and funding for development of expanded meningococcal vaccination programs globally can drive the market growth. Several governments recognize that widespread vaccination can help prevent or minimize the impacts of meningococcal disease outbreaks, which puts significant burden on the public health system. This encourages pharmaceutical companies to invest more resources into research and development of improved vaccines with broader coverage. Regulatory bodies have also streamlined approval processes for new meningococcal vaccines to facilitate their accessibility. Many national immunization technical advisory groups now recommend inclusion of additional serogroups in routine infant vaccination schedules based on emerging disease trends. This is translating to higher procurement of multivalent conjugate vaccines by national immunization programs. International organizations like WHO also supports underdeveloped countries through funding and technology transfers to introduce vaccines for controlling epidemic prone serogroups as part of their national immunization programs.

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