The global meningococcal vaccine market size was valued at USD 3.54 billion in 2023 and is predicted to reach around USD 6.36 billion by 2033, expanding at a CAGR of 6.03% from 2024 to 2033.
Key Points
- North America dominated the global meningococcal vaccine market in 2023.
- By type, the conjugate vaccines segment accounted for the dominating share of the market in 2023.
- By type, the polysaccharide vaccines segment is expected to witness considerable growth in the global market over the forecast period.
- By end-user, the adult segment held the largest share of the market in 2023.
- By end-user, the children segment is expected to grow significantly in the market during the forecast period.
The meningococcal vaccine market focuses on immunizations designed to prevent meningococcal diseases, caused by the bacterium Neisseria meningitidis. These vaccines protect against various serogroups, notably A, B, C, W, and Y. The market encompasses different vaccine types such as conjugate vaccines, polysaccharide vaccines, and protein-based vaccines. The growing emphasis on preventive healthcare, increased awareness about the disease, and government initiatives promoting vaccination are key elements driving the market forward.
Get a Sample: https://www.precedenceresearch.com/sample/4571
Growth Factors
Several factors are contributing to the growth of the meningococcal vaccine market. Rising incidence of meningococcal diseases worldwide and increasing healthcare expenditures have led to greater demand for these vaccines. Technological advancements in vaccine development and manufacturing, coupled with strong research and development efforts, have resulted in more effective vaccines with fewer side effects. Additionally, growing awareness and improved access to healthcare services in developing regions further bolster market growth.
Region Insights
North America and Europe dominate the meningococcal vaccine market due to high awareness, established healthcare infrastructure, and supportive government policies. The U.S. leads in market share, owing to robust vaccination programs and significant healthcare spending. Asia-Pacific is expected to witness the fastest growth, driven by increasing population, rising healthcare awareness, and government initiatives to improve vaccination coverage. Emerging markets in Latin America and Africa also show potential, although challenges such as low awareness and limited healthcare infrastructure persist.
Meningococcal Vaccine Market Scope
| Report Coverage | Details |
| Market Size by 2033 | USD 6.36 Billion |
| Market Size in 2023 | USD 3.54 Billion |
| Market Size in 2024 | USD 3.75 Billion |
| Market Growth Rate from 2024 to 2033 | CAGR of 6.03% |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Type, End-user, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Meningococcal Vaccine Trials Market Dynamics
Drivers
Key drivers of the meningococcal vaccine market include increasing prevalence of meningococcal diseases and outbreaks, which necessitate widespread vaccination. Government initiatives and immunization programs play a crucial role in market growth. Additionally, advancements in biotechnology and vaccine development have led to the introduction of more effective and safer vaccines, further boosting demand. Public health campaigns and collaborations between governments, non-profits, and private companies also drive market expansion.
Opportunities
There are significant opportunities in the meningococcal vaccine market, particularly in developing regions where vaccination coverage is still low. Expansion of vaccination programs and increased funding from international organizations can enhance market penetration. Innovation in vaccine formulations, such as combination vaccines and vaccines with longer duration of immunity, also presents growth opportunities. Additionally, partnerships between pharmaceutical companies and research institutions can accelerate the development of next-generation vaccines.
Challenges
The meningococcal vaccine market faces several challenges, including high development and production costs, which can limit accessibility in low-income regions. Vaccine hesitancy and lack of awareness about meningococcal diseases hinder market growth. Additionally, logistical challenges in vaccine distribution, especially in remote and underdeveloped areas, pose significant obstacles. Regulatory hurdles and the lengthy approval process for new vaccines also impact market dynamics.
Read Also: Vegan Cosmetics Market Size to Reach USD 31.59 Bn by 2033
Meningococcal Vaccine Market Companies
- AstraZeneca plc
- Pfizer Inc.
- Novartis AG
- Janssen Pharmaceuticals, Inc.
- Bharat Biotech International Ltd.
- Mitsubishi Tanabe Pharma Corporation
- GlaxoSmithKline plc
- Sanofi Pasteur
- Merck & Co., Inc.
- Serum Institute of India Pvt. Ltd.
- Biomed Pvt. Ltd.
- Walvax Biotechnology Co., Ltd.
- Bavarian Nordic A/S
- Biological E Limited
- Hualan Biological Engineering Inc.
- Beijing Tiantan Biological Products Corporation Limited
- Chongqing Zhifei Biological Products Co., Ltd.
- GSK Biologicals SA
- Incepta Pharmaceuticals Ltd.
- Panacea Biotec Ltd.
Recent Developments
- In April 2024, Nigeria announced the launch of the new Men5CV vaccine, which offers protection against five strains of the Neisseria meningitidis bacteria (meningococcus) responsible for meningitis. Nigeria becomes the first country globally to launch the vaccine, which is recommended by the World Health Organization (WHO).
- In October 2023, Pfizer Inc. announced that the U.S. FDA had approved PENBRAYA (meningococcal groups A, B, C, W, and Y vaccine), the first and only pentavalent vaccine that provides coverage against the most common serogroups causing meningococcal disease in adolescents and young adults 10 through 25 years of age.
- In July 2023, the Serum Institute of India’s (SII) multivalent meningococcal meningitis vaccine received World Health Organisation (WHO) prequalification. MenFive is the first conjugate vaccine to protect against the five predominant causes of meningococcal meningitis in Africa.
Segments Covered in the Report
By Type
- Polysaccharide Vaccines
- Conjugate Vaccines
- Combination Vaccines
- Other Types
By End-user
- Children
- Adults
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
Contact Us:
Mr. Alex
Sales Manager
Call: +1 9197 992 333
Email: sales@precedenceresearch.com
Web: https://www.precedenceresearch.com
Blog: https://www.expresswebwire.com/
Blog: https://www.uswebwire.com/
Blog: https://www.dailytechbulletin.com/
Blog: https://www.autoindustrybulletin.com/
