A new Transparency Market Research report states that the global meningococcal vaccines market stood at US$1.5 bn in 2013 and is predicted to reach US$4.4 bn in 2022. It is expected to expand at a CAGR of 12.40% from 2014 to 2022. The title of the report is “Meningococcal Vaccines Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022”.
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As per the report, various governments have taken major steps to reform the overall healthcare infrastructure in numerous countries, thus stimulating the meningococcal vaccines market. The other key factors fuelling the market for meningococcal vaccines include approval for legislations by several governments for making immunization mandatory for school-going children till a certain age limit. In addition, vaccines are being developed and marketed at economical prices and this has also impacted the market positively. A number of awareness campaigns by non-profit organizations and governments have also driven the meningococcal vaccines market.
The development of halal vaccines and novel approaches adopted to enhance the stability of meningococcal vaccines are amongst the key opportunities seen in the market. On the other hand, factors such as the soaring cost of certain vaccines, including Bexsero, has impeded the growth of the market. In addition, dynamic and unpredictable epidemiology of meningococcal diseases may also restrain the growth of the market for meningococcal vaccines.
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On the basis of type, the market is segmented into polysaccharide vaccines, combination vaccines, conjugate vaccine, and men B vaccines. Amongst these, polysaccharide vaccines are the oldest types of vaccines available in the market and have greatly reduced the occurrence of bacterial meningitis. On the other hand, combination vaccines in combination with other organisms including Haemophilus influenzae type B and pneumococcal have been considered as the latest weapons for fighting against bacterial infections. On the basis of brand, polysaccharide vaccines are further segmented into Menomune, NmVac4, Mencevax, and others including Bi Meningo and Quadri Meningo. In terms of brand, combination vaccines are further segmented into Menitorix and MenHibrix. On the basis of brand, conjugate vaccines are further segmented into Menveo, Menactra, Nimenrix, NeisVac-C, Meningitec, menAfriVac, Menjugate, and NmVac4-DT.
On the basis of geography, the meningococcal vaccines market is segmented into Europe, Asia Pacific, North America, and Rest of the World (RoW). Amongst these, in 2013, on the basis of revenue, North America held the biggest share in the market owing to the numerous awareness campaigns and immunization programs introduced by governments in this region, hence reducing the occurrence of meningitis to a great extent. On the other hand, Asia Pacific is predicted to be the most swiftly developing region, trailed by RoW. The market for meningococcal vaccines in this region is primarily fuelled by the ongoing rise in population and the increasing focus on preventive measures to fight diseases.
Novartis AG, Sanofi SA, GSK plc., Nuron Biotech, Pfizer, Inc., Serum Institute of India Ltd., Baxter International, Biomed Pvt. Ltd., and JN International Medical Corporation, among others, are the prime players operating in the market.