Meningococcal Conjugate Vaccine Market size is estimated to reach $4.32 billion by 2027, growing at a CAGR of 9.8% during the forecast period 2022-2027. Meningococcal is also recognized as IMD (= Invasive Meningococcal Disease). It can be elucidated as a grievous contagion which is disseminated by bacilli “Neisseria meningitidis.” The disease is caused mainly due to three types of bacteria B, C, and Y. Similarly, MenACWY vaccines cure infections caused due to Serogroups (A, W, C, and Y). Serogroup B has a different vaccine MenB to cure Serogroup B Meningococcal which frequently leads to two main sicknesses meningitis and blood circulation contagion. A person inflicted with MM (=Meningococcal Meningitis) experiences headache, fever, and inelastic neck ascribing to the contamination and protuberance in tissues acting as a shield to the brain and spinal cord. Whereas, in bloodstream infection, NM enters the blood and devastates arteries and veins. Undue flows of hard cash into exploration and development by governments around the world post-COVID-19 are set to drive the growth of the Meningococcal Conjugate vaccine Industry for the period 2022-2027.
Meningococcal Conjugate Vaccine Market Segment Analysis – By Serogroup
The Meningococcal Conjugate Vaccine Market based on the Serogroup can be further segmented into MenACWY, MenB, MenW, MenC, and many more. The MenACWY segment held the largest share owing to the factors such as the majority of the meningococcal ailments around the world are caused only by the serogroups A, C, W, and Y. Infants and children are more prone towards meningococcal and MenACWY widely used to treat infants and children up to 10 years. By aiming for the said serogroups, it helps in saving close to 350 million people worldwide.
Moreover, the MenACWY segment is estimated to be the fastest-growing segment with a CAGR of 10.4% over the period 2022-2027. This growth is owing to a higher ability to make antibodies that targets the bacteria or virus leading to the malady, increasing cases of meningococcal inflicted by bacteria which belongs to subgroups (A, C, W, and Y), across the board presence of MenACWY vaccine.
Meningococcal Conjugate Vaccine Market Segment Analysis – By End User
The Meningococcal Conjugate Vaccine Market based on End User can be further segmented into Infants, Toddlers, Adolescents, and Adults. The Infant segment held the largest share in 2021 owing to the factors such as high rates of immune disorders in infants and children, most of the time meningococcal gravitates towards infants because of their lower weight problems during birth. Another big factor for its prevalence is the constant embracing and kissing of infants by their parents as meningococcal is a communicable disease.
The old-age segment is estimated to be the fastest-growing with a CAGR of 10.6% over the forecast period 2022-2027. This growth is owing to ascension in the geriatric population and an upsurging prevalence of meningococcal in elderly people. The old-age population percentage was around 9.1% in 2019 and is estimated to touch the 16-17% mark in the upcoming future.
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Meningococcal Conjugate Vaccine Market Segment Analysis – By Geography
The Meningococcal Conjugate Vaccine Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 35% of the overall market in 2021. The growth in this segment is owing to the factors such as the rising prevalence of meningococcal in infants and old age people, elevating geriatric population in North American countries such as Canada and the US, state-of-the-art healthcare infrastructure, and across the board presence of vaccines required to fight such maladies, highly cognizant population.
However, Asia-Pacific is estimated to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to the rising population gravitating such communicable diseases at a large scale, elevating investments in research and development of new procedures and vaccines by governments and private players, refining healthcare infrastructure in various developing Asian nations such as India, Indonesia, and China.
Meningococcal Conjugate Vaccine Market Drivers
Refining healthcare infrastructure and elevating research and development financings Projected to Drive Market Growth
After the Covid outbreak, there has been an innumerable swell in various transmissible maladies around the globe. Therefore, the healthcare sector is on the top of the governments’ priority list. Developing countries are assembling colossal packages for research and development and augmenting their general healthcare spending. Recently, the Indian government has amplified healthcare spending by 137%. Even US total healthcare spending is assessed to reach the $6 trillion mark by the year 2028-2029. Therefore, ascribing to heightening flows of hard cash drug and vaccine development activities are increasing around the globe which is estimated to boost Meningococcal Conjugate Vaccine Market.
Budding old age population is Expected to Boost Product Demand
The total population of earth in 2021 is around 7.9 billion people. But out of these 7.9 billion, a big chunk of people is aging above 65 and is expected to enlarge up to 1-2 billion in the coming future. As of 2021 around 19% of total Europe’s population falls under the category of geriatric population. Similarly, in Asian nations like India and China old age population is shooting up. As a result, bacteria like “Neisseria meningitidis” are predominating which is considered as a prominent factor to boost the demand of the meningococcal conjugate Vaccine market.
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Meningococcal Conjugate Vaccine Market Challenges
Harmful effects of vaccines and delay in approvals are Anticipated to Hamper Market Growth
Vaccines are not 100% safe and deliver copious side effects post usage. Similarly, meningococcal conjugate vaccines such as MenACWY, MenB constitute several health coercions in many cases. Almost entirely loss of palate, tenderness, headache, strain in sleeping is customary in patients administered with respective vaccines. On top of that, international health bodies such as WHO and individual governments of countries take forever in giving approvals to vaccines that can mutilate the development of the meningococcal conjugate vaccine market.
Meningococcal Conjugate Vaccine Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in this market. Meningococcal Conjugate Vaccine top 10 companies include:
Sanofi
GlaxoSmithKline plc
Pfizer
Merck & Company
Serum Institute of India Ltd.
Novartis AG
Walvax Biotechnology Co., Ltd.
Bio-Med Pvt Ltd.
Hualan Biological Engineering, Inc.
Oswaldo Cruz Foundation
Partnerships/Recent Developments:
October 27, 2021, vaccine against meningitis B a sickness triggered by the bacteria belonging to serogroup B is now accessible in the United Arab Emirates. Earlier, it was obtainable only in a few overseas countries like UK and US. Earlier, the parents had to take their children to a different location, for them to be vaccinated. Bexsero is also available at Harley Street Medical Centre in Abu Dhabi, among others.
April 24, 2020, the Sanofi-made conjugate vaccine “MenQuadfi” has got the nod from FDA (=Food and Drug Administration). The vaccine is specially made for treating children inflicted with meningococcal and aging two years or older than that. MenQuadfi was designed to elicit and demonstrate a high immune response across all four serogroups for multiple ages and was well tolerated. MenQuadfi is intended to protect an expanded age group. Licensure marks MenQuadfi as the only U.S. FDA-approved quadrivalent meningococcal vaccine indicated for persons 2 through 56 years of age and older.
Key Takeaways:
Geographically, North America into research and development accounted for the highest revenue share in 2021. However, Asia Pacific is poised to dominate the market over the period 2022-2027 owing to the ascension in the overall population of the Asian nations.
The proliferation in the activities of research and development, and across the board accessibility of vaccines are driving the market. However, the harmful effects of various vaccines related to the disease are said to reduce the growth of the Meningococcal Conjugate Vaccine Market.
Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Meningococcal Conjugate Vaccine Market report.
Relevant Title:
Pneumococcal Polysaccharide Vaccine Market
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