The global meningococcal vaccine market size was valued at $1,935.5 million in 2018, and is projected to reach $4,192.6 million by 2026, registering a CAGR of 9.5% from 2019 to 2026. Invasive meningococcal disease (IMD) is a bacterial infection caused by a gram-negative coccus, Neisseria meningitidis, which includes spectrum of infections including meningitis, bacteremia (meningococcemia), and bacteremia pneumonia. Although meningococcal disease is rare but is associated with high fatality of up to 50% if left untreated and often results in serious complications there after. Meningococcal meningitis results in infection of the lining of the brain and spinal cord and also has a potential to cause large epidemics as well as endemics. The disease is generally transmitted through direct contact with droplets of respiratory or throat secretions from patients or asymptomatic carriers. Various serotypes of N. meningitidis are included in 12 serogroups of which only 5 serogroups including A, B, C, W, and Y are responsible for the majority of disease worldwide. However, circulation of these serogroups is highly unpredictable and varies over time across age groups and geographies. Vaccines for each of these serogroups are available in the market.
The global meningococcal vaccine market is expected to experience significant market growth during the forecast period as there has been an increase in adoption in several countries across the globe in their national immunization programs. In addition, surge in meningococcal outbreaks in several countries has led to upsurge in demand for meningococcal vaccines, which further facilitate the growth of the market. However, stringent government regulations for the approval of new vaccines and recall of several products due to contamination are expected to impede the market growth. On the contrary, increase in R&D for meningococcal vaccines and global increase in healthcare spending provide significant growth opportunities for the meningococcal vaccine market.
Global Meningococcal Vaccine Market Segmentation
The Meningococcal Vaccine Market is segmented on the basis of serogroup, vaccine type, end user, and region. The serogroups covered in the study include MenACWY, MenB/BC, MenC, MenAC, and MenA. Depending on vaccine type, the market is classified into conjugate, polysaccharide, and subcapsular. According to end user, the market is segmented into pediatric, adults, and travelers .Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Vaccine Serotype
MenACWY Vaccines segment holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Vaccine serotype segment review
By vaccine serotype, the MenACWY vaccine and MenC vaccine segments collectively accounted for around 74.3% market share in 2018, with the former constituting around 46.2% share, and are expected to experience rapid growth during the forecast period as these vaccines exhibit increase in adoption in several countries across the globe in their national immunization programs. Moreover, meningococcal out breaks in several countries has led to upsurge in demand for meningococcal vaccines, which further swelled up the growth of the market is another reason that boosts the growth of the meningococcal vaccine market. However, MenA vaccine is anticipated to be the fastest growing segment and is estimated to garner significant share by 2026, registering a CAGR of 13.5%.
By Vaccine Type
Conjugate segment is projected as one of the most lucrative segment.
Vaccine type segment review
By vaccine type, the conjugate vaccine segment accounted for the major market share in 2018, and is expected to experience rapid growth during the forecast period, owing to its key advantages such as longer lasting immunity and its ability to induce herd immunity. Moreover, various key players have several meningococcal conjugate vaccine products in their pipeline that provides significant opportunities for the growth of the conjugate vaccine market. In addition, conjugate vaccine is anticipated to be the fastest growing segment and is estimated to register a CAGR of 10.2%.
By End User
Pediatric segment is projected as one of the most lucrative segment.
End user segment review
By end user, the pediatric and adult segments collectively accounted for around 95.2% market share in 2018, with the former constituting around 62.35% share and are expected to experience rapid growth during the forecast period due to increase in adoption in several countries across the globe in their national immunization programs. In addition, the pediatric segment is anticipated to be the fastest growing, registering a CAGR of 10.0%.
North America and Europe are the most lucrative markets due to increase in awareness for meningococcal diseases, ease of product availability, and surge in outbreaks for meningococcal diseases. The North America for largest market share for meningococcal vaccine market revenue in 2018. In addition, it is estimated to garner significant share by 2026 at an estimated CAGR of 9.4%. The Asia-Pacific Meningococcal Vaccine Market is estimated to account for the fastest growing sub-segment globally. The steady meningococcal vaccine market growth in this region can be primarily attributed to the presence of large population, improving access to healthcare systems, and increase in awareness for meningococcal diseases.
Asia-Pacific region would exhibit the highest CAGR of 14.7% during 2019-2026.
Comprehensive competitive analysis and profiles of major meningococcal vaccine market players such as Bio-Manguinhos, Bio-Med Pvt. Limited, Chongqing Zhifei Biological Products Co., Ltd., GlaxoSmithKline Plc, Hualan Biological Engineering Inc., Incepta Pharmaceuticals Ltd., Pfizer Inc., Sanofi S.A., Serum Institute of India Pvt. Ltd, and Walvax Biotechnology Co., Ltd. are provided in this report.
Key Benefits For Stakeholders
The meningococcal vaccine market share and analysis is based on a comprehensive analysis of key developments in the industry.
The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the global market.
The study provides an in-depth analysis of the meningococcal vaccine market trends to elucidate the imminent investment pockets.
The global meningococcal vaccine market trends are studied from 2018 to 2026.
Information about key drivers, restrains, and opportunities and their impact analysis on the meningococcal vaccine market size is provided.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global meningococcal vaccine market from 2019 to 2026 is provided to determine the market potential.
Meningococcal Vaccine Market Report Highlights
By VACCINE SEROTYPE
By VACCINE TYPE
By END USER
Key Market Players
PFIZER INC., Chongqing Zhifei Biological Products Co., Ltd., Bio-Med Pvt. Limited, Hualan Biological Engineering Inc., SERUM INSTITUTE OF INDIA PVT. LTD, SANOFI S.A., Bio-Manguinhos, Incepta Pharmaceuticals Ltd., GlaxoSmithKline Plc, Walvax Biotechnology Co., Ltd.
Meningococcal infection is quite rare but is associated with high fatality of up to 50% if left untreated and often results in serious complications thereafter. In addition, meningococcal meningitis is also has a potential to cause large epidemics as well as endemics. There by, immunization through meningococcal vaccines is the best available defense against the disease.
Meningococcal vaccines are expected to witness high adoption in the near future, owing to increase in number of immunization programs across the globe. In addition, the market is exhibiting high growth rate, owing to surge in awareness about use of the meningococcal vaccines. North America holds the largest share for meningococcal vaccines market. Moreover, North America and Europe are expected to offer lucrative growth opportunities to the key players. This is majorly attributed to factors such as improvement in healthcare facilities, rise in disposable income, and rapid improvement in economic conditions. However, Asia-Pacific is expected to grow at the highest rate. Meningococcal vaccine manufacturers and distributors have focused on expanding their presence in the emerging economies to strengthen their foothold in the market.