The latest report by IMARC Group, titled “Meningococcal Vaccines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″. The global meningococcal vaccines market size reached US$ 3.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.5 Billion by 2028, exhibiting a growth rate (CAGR) of 8.7% during 2023-2028.
Meningococcal vaccines are biological substances used to prevent meningitis, a contagious infection that affects the membranes surrounding the brain and spinal cord. They are widely available in three main types: conjugate, polysaccharide, and subcapsular meningococcal vaccines. They trigger the production of antibodies that fight the bacteria and create an immune response, thereby preventing future infections. At present, meningococcal vaccines are commonly administered to infants, children, and adults to protect them against the invasive disease caused by meningococcal bacteria A, B, C, W-135, and Y.
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Meningococcal Vaccines Market Trends and Drivers:
The global meningococcal vaccines market is primarily driven by the increasing prevalence of the disease among young children and adolescents. Moreover, the rising awareness about health and well-being among the masses and the widespread adoption of routine immunization programs are positively influencing market growth. Additionally, the surging use of meningococcal vaccines, which help prevent the disease and reduce the risks of its long-term effects, such as permanent deafness, vision loss, and neurological damage, has catalyzed market growth. Furthermore, the development of ready-to-use liquid formulations that do not require reconstitution is contributing to the market growth. Other factors, including ongoing research and development (R&D) activities, the launch of public health programs, especially by governments of various developed and emerging economies, and continual improvements in healthcare infrastructure, are also anticipated to propel the market growth.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Vaccine Type:
- Conjugate
- Polysaccharide
- Subcapsular
Breakup by Composition:
- Mono Vaccines
- Combination Vaccines
Breakup by Vaccine Serotype:
- MenACWY
- MenB & Manic
- MenC
- MenA
- MenAC
- Others
Breakup by Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Institutional Sales
- Others
Breakup by End User:
- Pediatric
- Adult
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Competitors Landscape with Key Players:
- GlaxoSmithKline Plc
- Hualan Biological Engineering Inc.
- Incepta Pharmaceuticals Limited
- Novartis AG
- Pfizer Inc.
- Sanofi S.A.
- Serum Institute of India Ltd.
- Walvax Biotechnology Co. Ltd.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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