Meningococcal vaccines market is estimated to witness high growth owing to increasing government initiatives and growing immunization programs
Meningococcal vaccines market is estimated to be valued at USD 4.10 Bn in 2024, exhibiting a CAGR of 10.2% over the forecast period 2024-2031. Rising prevalence of meningitis disease and introduction of novel vaccines can drive the market growth during the forecast period. Furthermore, increasing healthcare expenditures can also boost demand for meningococcal vaccines.
Market Dynamics:
Growth in government expenditure on healthcare infrastructure development: Rising government initiatives towards strengthening immunization programs aimed at prevention and control of various healthcare issues have boosted adoption of meningococcal vaccines. Many national governments have included meningococcal vaccines in their national immunization programs and provide vaccination recommendations, and this drives the market growth.
Rising prevalence of meningitis: According to the World Health Organization (WHO), meningitis causes approximately 1 in 10 cases of severe childhood disability. Increasing incidence of meningitis across the globe, owing to unsanitary living conditions and lack of adequate medical facilities in developing regions has boosted the sales of meningococcal vaccines in both developing and developed nations.
Increasing incidence of meningococcal disease
Increasing incidence of meningococcal disease can drive the global meningococcal vaccines market growth. Meningococcal disease refers to any illness caused by the bacterium Neisseria meningitidis, including meningitis (infection of the lining of the brain and spinal cord) and sepsis (infection of the bloodstream). According to the World Health Organization (WHO), 2.8 million cases and 500,000 deaths due to meningococcal disease are reported each year globally. The highest incidence rates are found in countries within the African meningitis belt. However, developed countries are also witnessing increasing cases of meningococcal disease, thus, increasing focus on prevention through vaccination programs.
Introduction of new meningococcal vaccines
The development and commercialization of new meningococcal vaccines can drive the market growth. Vaccines have targeted the most common serogroups A, C, W, and Y. However, researchers continue developing enhanced vaccines targeting additional disease-causing serogroups such as B. For example, major pharmaceutical companies such as GSK, Pfizer, and Sanofi Pasteur have launched or expanded their meningococcal ACWY and serogroup B vaccine lines in recent years. The variety of options targeting different age groups appeals to public health authorities looking to strengthen immunization programs. The introduction of new formulations marks an important market expansion by addressing more strains of the bacteria. Their availability stimulates increased uptake, treatment, and spending on meningococcal prevention.
Lack of awareness hinders broader immunization uptake
Lack of public awareness about meningococcal disease and its severity can hamper the market growth. Meningococcal meningitis has relatively nonspecific initial symptoms that can be mistaken for less serious illnesses like the flu. Thus, many people do not perceive the infection as a serious threat until complications emerge. Limited understanding of vaccination hampers its demand, especially in developing nations. Major information gaps exist around who is most at risk, available prevention options, and the long-term effects of the disease. Addressing low awareness levels through public health education campaigns is crucial to stimulate more proactive immunization behaviors and treatment-seeking, if symptoms develop.
Cost of stockpiling meningococcal vaccines restraints government spending
The high cost of stockpiling meningococcal vaccines presents a restraint, especially in financially constrained public health systems. Mass immunization is important for managing outbreak situations but comes at a steep budgetary price tag. Meningococcal vaccines can cost upwards of US$ 100-US$ 200 per dose, adding up rapidly at the scale required for emergency response stockpiles and broad vaccination programs. This premium pricing reflects the intensive research, development, and manufacturing costs associated with such medically complex biologics. It hinders some lower-income countries from adequately preparing stockpiles needed to respond swiftly to epidemics. Financially strapped health authorities may opt to deprioritize meningococcal immunization relative to other diseases amid budget constraints.
Regional meningitis belt epidemics open market opportunities
The unpredictable nature of regional meningitis belt epidemics in sub-Saharan Africa presents both a threat and an opportunity for vaccine manufacturers. Major outbreaks tend to occur every 7-14 years, putting millions of people at risk during active transmission seasons. In past epidemics, infection rates had increased, overwhelming fragile healthcare infrastructures. In response, international organizations like the WHO rush to support mass preventative campaigns using available meningococcal vaccines. The acute need stimulates huge short-term demand and purchasing from affected countries. For example, a major 2009-2010 serogroup A epidemic in the belt spurred an extraordinary response using over 250 million doses of vaccine. Epidemics offers market opportunities for swift emergency vaccine supply and delivery during active outbreak periods. Preparing for these unpredictable peaks can improve longer-term market presence in the region overall.
Link: https://www.coherentmarketinsights.com/market-insight/meningococcal-vaccines-market-3864
Key Developments
- In April 2024, GSK plc, a biopharma company, announced that the U.S. FDA had accepted for review a Biologics License Application (BLA) for its 5-in-1 meningococcal ABCWY vaccine candidate. This vaccine combines components from GSK's Bexsero and Menveo vaccines, targeting meningococcal groups A, B, C, W, and Y, which are responsible for most cases of invasive meningococcal disease worldwide. The FDA's decision on the application is expected by February 14, 2025.
- In October 2023, Pfizer, a multinational pharmaceutical and biotechnology corporation, announced the the U.S. FDA had approved PENBRAYA. It is the first pentavalent vaccine for adolescents and young adults (ages 10-25) to protect against meningococcal groups A, B, C, W, and Y. It combines components from Trumenba and Nimenrix to cover the most common serogroups causing meningococcal disease globally.
- In October 2023, WHO pre-qualified a new meningococcal conjugate vaccine, Men5CV, developed by the Serum Institute of India, a biopharmaceuticals company, and PATH. It aims to be affordable and accessible for countries in Africa's meningitis belt, offering protection against deadly meningitis strains. WHO urges its widespread adoption to combat meningitis epidemics by 2030.
Key Players: GlaxoSmithKline plc, Pfizer Inc., Sanofi Pasteur, Merck & Co., Inc., Serum Institute of India Pvt. Ltd., Walvax Biotechnology Co., Ltd., Hualan Biological Engineering Inc., JN-International Medical Corporation, Beijing Minhai Biotechnology Co., Ltd, Bio-Manguinhos/Fiocruz, Chongqing Zhifei Biological Products Co., Ltd., Baxter International, CSL Limited, Bavarian Nordic, Incepta Vaccine Ltd., Sinovac Biotech Ltd., Novartis, Panacea Biotec Ltd
