Meningococcal Vaccines Market’s Growth at 8.6% CAGR, Envisioning US$ 7.7 Billion in 2032
Over the forecast period, the market for meningococcal vaccines is anticipated to grow at a CAGR of 8.6%, reaching US$ 3.4 Bn in 2022. According to Future Market Insights (FMI), the conjugate vaccines segment held a 62.6% revenue share of the market in 2021.
The global meningococcal vaccines market is expected to grow at an 8.6% CAGR during the forecast period, reaching US$ 3.4 billion in 2022. According to Future Market Insights (FMI), the conjugate vaccines segment will have a 62.6% revenue share in 2021.
Partnerships between the private sector and public institutions have been the chief agenda of global public health initiatives.
The last few years have witnessed an increase in several private-public partnerships specifically focussing on vaccine provision in developing countries. Partnerships like the International Coordinating Group on Vaccine Provision for Epidemic Meningitis Control (ICG) help magnify the vaccine outreach to remote areas of the world with the maximum need.
The governments of several countries across the globe initiate immunisation programmes periodically and these programmes are backed by global organisations such as UNICEF and WHO and private not for profits like the Global Alliance for Vaccines and Immunization (GAVI).
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A classic example of how private-public partnerships are helping boost vaccination programmes across deep regional pockets is Brazil.
In 2010, Ezequiel Dias Foundation, Brazil formed a strategic alliance with Novartis Vaccines & Diagnostics for the sustainable supply of Menjugate MenC vaccines for Brazil’s National Immunization Program. By 2015, Brazil became self-sufficient in the production of the meningococcal C conjugated vaccine for the country’s public vaccination programmes. Such initiatives at the global level are anticipated to support global immunisation goals and at the same time boost growth of the meningococcal vaccines market.
Key Companies Profiled:
Sanofi Pasteur Inc.
GlaxoSmithKline Plc
Wyeth Pharmaceuticals
Bio-Manguinhos
Bio-Med Pvt. Limited
Chongqing Zhifei Biological Products Co., Ltd.
Hualan Biological Engineering Inc.
Incepta Pharmaceuticals Ltd.
Pfizer INC
Serum Institute of India Pvt. Ltd
Walvax Biotechnology Co., Ltd.
Factors Leading to Worldwide Adoption of Meningococcal Vaccination Programmes
The global meningococcal vaccines market is expected to be driven by enhanced access to vaccines in low and middle-income countries, growing investments by manufacturers and governments to cope with pandemic meningitis outbreaks, and rapidly growing consumption of meningococcal vaccines bolstered by immunisation alliances and mass vaccination campaigns among others.
Partnerships and alliances between manufacturers and governmental healthcare organisations are facilitating the speedy introduction of vaccines in some of the economically challenged countries of the Middle East and Africa region. Enhanced access to vaccines in under-penetrated global markets is expected to accelerate revenue growth of the global meningococcal vaccines market.
Approval of new vaccines in the U.S and Europe in 2015 and 2017 to treat meningococcal meningitis has revolutionised the global immunisation landscape. This is further boosting the growth trajectory of the global market for meningococcal vaccines.
GlaxoSmithKline to Lead the Global Meningococcal Vaccines Market with About 50% Market Share Recorded in 2017
The global meningococcal vaccines market is highly consolidated, with GlaxoSmithKline and Sanofi together holding about 80% of the global market share in 2017. Pfizer is the third largest company in this market with just under 12% market share in 2017.
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Companies are expanding their production capacities through the acquisition of established vaccines production units of other global or local companies.
Sanofi has a huge pipeline of 17 active meningococcal vaccines programmes and is targeting emerging markets; while GlaxoSmithKline has 5 active pipeline programmes for meningococcal vaccines, all of which are in the phase II clinical stage. Addition of the vaccine Bexsero has enabled GlaxoSmithKline to defend its brand against Sanofi’s aggressive portfolio in the paediatric vaccines space.
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Key Market Segments Covered in Meningococcal Vaccines Industry Research
By Product:
Polysaccharide
Conjugate
By Age Group:
Infants
Children
Adolescents & young Adults
Adults
By Distribution Channel:
Pharmacies
Community Clinics
Public Health Agencies
Others (hospital pharmacy, private market etc.)
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