Increasing prevalence of meningitis and rising investment in new vaccine development are key factors driving the market revenue growth.

VANCOUVER, BRITISH COLUMBIA, CANADA, June 7, 2024 /EINPresswire.com/ -- The global meningococcal vaccine market size was USD 3.10 Billion in 2022 and is expected to register a revenue CAGR of 5.9% during the forecast period.  The meningococcal vaccine market is set for robust growth, driven by key factors including the increasing prevalence of meningitis, substantial investment in new vaccine development, and significant technological advancements.

Market Drivers

1. Technological Advancements in Multi-Component Vaccines: Recent advancements in multi-component vaccines, such as hexavalent and heptavalent options, are providing broader coverage against various serogroups of meningococcus bacteria. These vaccines are contributing to the market's revenue growth by offering comprehensive protection against multiple strains.

2. Inclusion of New Technologies: Innovations such as Reverse Vaccinology, Genomic Sequencing, Cell-Based Vaccine Production, and Outer Membrane Vesicle (OMV) Vaccines are enhancing vaccine quality and accelerating development processes. These technological improvements are bolstering market revenue by facilitating the creation of more effective and rapidly produced vaccines.

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3. Rising Prevalence of Meningitis: The increasing incidence of meningitis is a critical factor driving market growth. According to the National Center for Biotechnology Information, there are approximately 500,000 cases of meningococcal meningitis annually. This serious and potentially life-threatening disease highlights the need for effective vaccines, thereby raising public awareness and market demand.

4. Increased Investment in Vaccine Development: Significant investment in vaccine research and development is propelling market growth. Governments and global health initiatives are prioritizing infectious disease preparedness, offering financial incentives to encourage the development of vaccines for high-burden diseases like meningitis. This focus is leading to tailored vaccines for specific populations, further driving market expansion.

5. Growing Technological Advancements: Technological advancements in vaccine development, such as Conjugate Vaccine Development and Nanoparticle Delivery Systems, are expected to enhance market growth. For instance, Pfizer's recently FDA-approved PENBRAYA vaccine combines components of two proven vaccines, providing broader coverage and potentially increasing vaccination rates.

Market Restraints

Despite the positive outlook, the market faces challenges such as stringent approval processes and safety concerns. The high costs associated with vaccine development, production, and distribution also pose significant barriers to market growth.

Market Segment Insights

1. Vaccine Type:

Conjugate Vaccines: Conjugate vaccines held the largest market share in 2022 due to their improved safety profile and broader protection against multiple serogroups.

Polysaccharide Vaccines: This segment is expected to grow rapidly due to lower costs and longer shelf life, making them an accessible option in resource-limited settings.

2. Serotype:

Serotype B: Dominated the market in 2022 as it is a major cause of meningococcal meningitis in regions with mature vaccination programs.

Serotype C: Predicted to grow swiftly due to the emergence of aggressive strains and the need for updated vaccines.

3. Age Group:

Children and Adults: This segment had the largest market share in 2022, driven by routine immunization programs and the need for multiple doses to ensure optimal protection.

4. End-Use:

Hospitals: Hospitals accounted for the largest revenue share in 2022, due to their capacity to manage complex vaccination programs and provide post-exposure prophylaxis during outbreaks.

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Meningococcal Vaccine Top Companies and Competitive Landscape

The global the global meningococcal vaccine market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Meningococcal vaccine solutions.

Some major players included in the global Meningococcal vaccine market report is:

Pfizer Inc.

Sanofi

Serum Institute of India Pvt. Ltd.

GSK plc.

Merck & Co., Inc.

Walvax Biotechnology Co., Ltd.

Incepta Pharmaceuticals Ltd

Johnson & Johnson Private Limited

AstraZeneca

Bavarian Nordic

Meningococcal Vaccine Latest Industry Updates

On 14 March 2023, GSK announced results from the phase III trial of its MenABCWY combination vaccine candidate. The trial aimed to prove the vaccine's safety, effectiveness, and ability to trigger immunity against serogroups A, B, C, W, and Y. The MenABCWY candidate matched the immune response of two established meningococcal vaccines, Bexsero and Menveo, for all five serogroups.

On 12 July 2023, Serum Institute of India announced approval of WHO prequalification for Multivalent meningococcal meningitis vaccine. The goal was to finally break the cycle of annual meningitis outbreaks that devastate many African communities. MenFive approved for anyone aged 1 to 85, offering broader protection than previously anticipated. This ensures vulnerable populations across all ages, from children to older adults, benefit from its shield against meningitis.

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Meningococcal Vaccine Segment Analysis

For the purpose of this report, Emergen Research has segmented global the global meningococcal vaccine market on the basis of Vaccine Type, Age Group, Serotype, end-use, and region:

Vaccine Type Outlook (Revenue, USD Billion; 2019-2032)

Conjugate

Polysaccharide

Others

Age Group Outlook (Revenue, USD Billion; 2019-2032)

Infants

Children and Adults

Vaccine Serotype Outlook (Revenue, USD Billion; 2019-2032)

Serotype A

Serotype B

Serotype C

Serotype Y

Serotype W-135

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Hospital

Research and Academic institute

Others

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of MEA

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