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Rise in the Demand for Meningococcal Conjugate Vaccines are Set to Drive the Growth of the Meningococcal Vaccines Market

HYDERABAD, TELANGANA, INDIA, October 26, 2022 /EINPresswire.com/ -- Meningococcal Vaccines Market size is expected to reach $4.2 billion by 2026, growing at a CAGR of 10.8% during the forecast period 2021-2026. Meningococcal vaccines are polysaccharide vaccines that are used to prevent diseases caused by meningococcus, which is a Gram-negative bacterium that can cause meningitis and other forms of meningococcal disease such as meningococcemia. The meningococcal disease results in infection of the lining of the brain and spinal cord and also has the potential to cause large epidemics. This disease is generally transmitted through direct contact with droplets of throat secretions from patients. Increase in the demand for combination vaccines and conjugate vaccines, growing government initiatives to replace the current meningitis vaccines with new vaccines to combat rising deaths, and rise in the adoption in developing countries in their national immunization programs are the factors that are set to drive the growth of the Meningococcal Vaccines Market for the period 2021-2026.

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Key Takeaways

North America Meningococcal Vaccines Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the growing approval of new vaccines to protect people against meningococcal meningitis.

The increasing demand for meningococcal conjugate vaccines for treating the infant population is driving the segment of Infants.

The lack of awareness of the harmful effect of meningitis in toddlers and young children is one of the major factors that is said to reduce the growth of the Meningococcal Vaccines Market.

Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Meningococcal Vaccines Market report.

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Segmental Analysis:

Meningococcal Vaccines Market Segment Analysis-By Type: The Meningococcal Vaccines Market based on the Type can be further segmented into Bivalent, Quadrivalent, and Others. The Quadrivalent segment held the largest share in 2020 and is also estimated to be the fastest-growing segment with a CAGR of 11.6% over the period 2021-2026. This growth is owing to the growing usage from brands such as Menactra, Menveo, and Nimenrix. The increasing approval of new vaccines to protect people against meningococcal meningitis is driving the growth of the Meningococcal Vaccines Market. The Bivalent segment held the second-largest share in 2020 owing to the factors such as growing demand for bivalent meningococcal vaccine for adolescents and young adults and increase in the research and development activities by the key players.

Meningococcal Vaccines Market Segment Analysis-By Age Group: The Meningococcal Vaccines Market based on the Age Group can be further segmented into Infants, Adolescents, and Adults. The Infants segment held the largest share in 2020 and is also estimated to be the fastest-growing segment with a CAGR of 11.5% over the period 2021-2026. The growing government initiatives to replace the current polysaccharide vaccines with new vaccines to combat rising deaths owing to meningitis is driving the growth of the Meningococcal Vaccines Market. The Adolescent segment held the second-largest share in 2020 owing to the factors such as growing demand for meningococcal combination vaccines for treating the adolescent population and increase in the prevalence of meningococcal diseases in developing countries.

Meningococcal Vaccines Market Segment Analysis-By Geography: North America held the largest share with 29% of the overall market in 2020. The rising demand for meningococcal combination vaccines for adolescents is driving the growth of the Meningococcal Vaccines Market. Asia Pacific is estimated to be the fastest growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as increase in the research and development activities by the key players to develop polysaccharide vaccines, rise in the launches of conjugate vaccines in the region, and increase in the adoption of immunization programs.

Competitive Landscape:
The top 5 players in the meningococcal vaccines industry are -
1. GlaxoSmithKline PLC
2. Pfizer Inc
3. Walvax Biotechnology Co Ltd
4. Bio-Med Pvt Ltd
5. Bio-Manguinhos

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