Yahoo Finance Global Meningococcal Vaccines Market is projected to reach a market value of US$ 6,347.5 Million by 2031: Visiongain Reports Ltd
Visiongain has published a new report on Global Meningococcal Vaccines Market Report Forecast 2021-2031. Forecasts by Market Segment by Vaccine Type (Conjugate, Polysaccharide and Others) Market segment by End User (Pediatric, Adult and Travelers) and Market segment by Vaccine Brand (Bexsero, Menactra, Menveo and Others). Plus, Profiles of Leading Meningococcal vaccine manufacturer Companies, Regional and Leading National Market Analysis. PLUS, COVID-19 Recovery Scenarios
Global Meningococcal Vaccines market was valued at US$ 3,560.9million in 2021 and is projected to reach at a market value of US$6,347.5million by 2031. Rise in prevalence of meningitis, increasing initiatives by government and regulatory authorities coupled strong funding support from Non-profit Organizations is expected to drive the Global Meningococcal Vaccines Market. Strategizing Meningococcal Vaccine as a part of their National Immunization Programs by various countries has overall boosted the demand for meningococcal vaccines market
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key Insight & Findings
What is the meningococcal vaccines market status in 2021 and how it will evolve through 2031?
What are the drivers, restraints, and opportunities of the meningococcal vaccines market
How will each meningococcal vaccines submarket segment grow over the forecast period and how much revenue will each segment account for in 2031?
How will individual leading national markets perform over the forecast period, and what are their drivers and restraints?
What have been the major developments of the leading national markets for meningococcal vaccines market over recent years, leading to their current market status?
How will the market shares of the regional and leading national markets evolve by 2031, and which geographical region will lead in 2031?
COVID-19 Impact on Meningococcal Vaccines Market
It was identified that during the COVID-19 pandemic the immunization services were disrupted and delayed. The WHO (World Health Organization) warned of a decline in vaccinations during COVID-19 and requested the countries to intensify immunization services which are a part of National Immunization Programs of these respective countries and also to conduct catch up immunization activities. WHO urged the National Health Authorities to review vaccine registers, keep a check on defaulter listings and new-born tracking to be completely updated on missed vaccination schedules. The catch up vaccination programs were considered based on local epidemiology outbreak which were preventable through vaccination such as measles, polio, meningococcus and yellow fever. Moreover, new findings from a multi-country survey conducted by GSK stated that 50 % of parents whose child had a scheduled meningococcal disease (meningitis) vaccination appointment, had the appointment delayed or cancelled during the COVID-19 pandemic. Overall, the meningococcal vaccine market was negatively affected during the COVID-19 pandemic.
What are the Market Drivers?
Increasing prevalence of meningitis
The growing occurrence of meningitis is one of the key factors likely to drive the market. As per the Centers for Disease Control and Prevention (CDC) statistics, about 1.2 million cases of bacterial meningitis are anticipated to occur worldwide every year.
Increasing initiatives by government and regulatory authorities
Public-Private Partnerships in several countries is driving in the growth of Meningococcal Vaccine market. For example, in the PATH-WHO meningitis project, Public Health Officials in India, Serum Institute of India, and some African Countries have joined hands. This initiative has been designed to offer affordable, long term and effective solutions to Meningococcal meningitis in several African belts. Such initiatives offer a robust opportunity for growth Meningococcal vaccines market.
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Where are the Market Opportunities?
Developing National Immunization Programs (NIPs) organized by numerous governments with support from global organizations and private non-profit organizations has been driving the demand for effective vaccines for various diseases, including meningococcal meningitis. Addition of meningococcal vaccines to NIPs with an intention to ensure sustainable vaccine supply with affordability to public and private sectors has opened multiple avenues of opportunities for manufacturers.
Competitive Landscape
Major market players of Meningococcal Vaccine market are Sanofi, Merck & Co., Inc., GlaxoSmithKline plc,Pfizer Inc., Serum Institute of India Pvt. Ltd., Zhi Fei Biological, Hualan Biological Engineering Inc, Incepta Pharmaceuticals Ltd., Walvax Biotechnology Co., Ltd., BIO-MED and JN International Medical Corporation. These players areinvesting significantly onR&D and licencing to sustain in market. For instance, In April 2020, The U.S. Food and Drug Administration (FDA) has approved a Biologics License Application for MenQuadfi Meningococcal (Groups A, C, Y, W) Conjugate Vaccine for the prevention of invasive meningococcal disease in persons 2 years of age and older.
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