The major factors for the growth of the meningococcal vaccines market include the increase in public-private partnerships to support the development of vaccines at low cost, and rising immunization programs and government initiatives.
The rising prevalence of meningitis is expected to increase the demand for meningitis vaccine resulting in high growth of the market. Meningitis can be caused by many different pathogens but the highest global burden is seen with bacterial meningitis. As per the data published by the National Meningitis Association (NMA), in the United States, approximately 600-1,000 people contract the meningococcal disease each year. Furthermore, 21% of the meningococcal disease cases occur in preteens, teens, and young adults. Thus, rising cases of meningitis are expected to create huge demand for meningitis vaccines.
Also, there is a rising public-private partnership to support the development of vaccines and create awareness among the population. Hence, the Meningococcal Vaccines market is expected to witness high growth over the forecast period.
Key Market Trends
Polysaccharide Vaccine is expected to hold Largest Market Share over the Forecast Period
Internationally marketed meningococcal polysaccharide vaccines are bivalent (A and C), trivalent (A, C, and W-135) or tetravalent (A, C, Y, and W-135). The vaccines are purified, heat-stable, lyophilized capsular polysaccharides from meningococci of the respective serogroups. The vaccines have been helpful in curbing the exponential growth of the disease, and are expected to do so in the future as well. This is expected to help the market growth.
The polysaccharide vaccines continue to witness high traction from developing countries due to limited supply by few vaccine manufacturers, market forerunners are collaborating with local distributors to expand their footprint.
North America is Expected to Hold Largest Market Share over the Forecast Period
The United States is expected to be the largest meningococcal vaccine market owing to the rising awareness of the disease and the presence of better healthcare infrastructure. The rates of meningococcal disease declining in the United States since the 1990s. As per the data published by the Center for Disease Control and Prevention (CDC), in 2017 there were approximately 350 total cases of meningococcal disease reported. Furthermore, there is a rising awareness among the population.
In the United States, the Meningitis Foundation of America (MFA) is a non-profit organization dedicated to providing information and support to individuals who have had personal experience with meningitis. Also, this foundation is to create awareness in the public and the medical communities about the initial symptoms of meningitis. Thus, owing to the all above-mentioned factors the Meningococcal Vaccines market is expected to witness steady growth over the forecast period.
The market studied is a consolidated market owing to the presence of a few major market players. Some of the market players are Bio-Manguinhos, Biomed Pvt. Ltd, GlaxoSmithKline plc, Merck & Co., Inc., Novartis AG, Pfizer Inc., Sanofi Pasteur Inc., and Serum Institute of India Ltd.
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