Meningococcal Vaccine Market Growth Analysis by To IT Sector

Meningococcal Vaccine  Market Growth Analysis by To IT Sector

The global meningococcal vaccine market size was valued at USD 3.42 billion in 2020 and is expected to reach USD 6.45 Billion with growth at a compound annual growth rate (CAGR) of 9.5% from 2020 to 2027.

Meningococcal vaccine is used to prevent contagious infection of the membranes that surround the brain and spinal cord caused by Neisseria meningitides. Three types of vaccines are present to act against meningococcal disease which target serogroups A, C, W-135, and Y of meningococcus. These vaccines are mainly used to immunize infants and children against invasive diseases caused by Neisseria meningitides.

Factors such as the rising prevalence of the meningococcal disease coupled with the growing awareness about vaccination programs will be the major factors driving the prospects for growth in this market. Several international and regional organizations across the globe are taking initiatives and conducting vaccination and immunization programs, such as summits and fundraising events, to raise awareness about the disease. Rising awareness about the meningococcal disease and its treatment will result in surged consumption of meningococcal vaccines, which will, in turn, augment the growth of this market.

Mono vaccines occupy the largest share in the market. These vaccines provide protection against single or multiple serogroups of disease-causing organisms, such as Neisseria meningitides, which are responsible for meningococcal diseases. These vaccines are further segmented into polysaccharide and conjugate vaccines. Growing incidences of meningococcal diseases across the globe will lead to this segment’s growth during the forecast period.

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The Americas dominated the meningococcal vaccines market in 2015 and occupied more than 75% of the total market share. Much of this region’s growth comes from the presence of a well-developed healthcare system and better economic conditions. In addition, the affordability of therapies due to the introduction of well-structured reimbursement plans has also boosted the prospects for growth in this market. Factors such as growing awareness about meningococcal vaccination and immunization will propel this market’s growth in the region.

Favourable government support in terms of inclusion of vaccination such as meningococcal C conjugate (MCC) vaccine in national routine immunization schedules by the European Centre for Disease Prevention and Control to treat meningitis is likely to drive the meningitis vaccine market in Europe. Incidence of bacterial meningitis is increasing in countries such as Thailand and North Korea. This drives demand for vaccination to combat the disease which in turn is expected to propel meningitis vaccine market in Asia Pacific. Increase in awareness about meningitis immunization and high prevalence of bacterial meningitis are likely to augment the meningitis vaccine market in Middle East & Africa during the forecast period.

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