Dublin, Nov. 26, 2024 (GLOBE NEWSWIRE) — The “Meningococcal Vaccine Market by Type, by Brand, by Age Group, by Serotype, by End-user, and by Region” report has been added to ResearchAndMarkets.com’s offering. This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
The global meningococcal vaccine market accounted for USD 5.10 billion in 2023 and is expected to reach at USD 14.58 billion by 2034 with a CAGR of 10.01% during the forecast period 2024-2034. The market will grow as a result of rising meningococcal disease incidence, government initiatives and vaccination campaigns, rising public awareness and education, R&D spending, and innovative product development.
One of the main factors driving the market is the increased frequency of meningococcal disease, especially in areas with dense populations and inadequate healthcare facilities. The demand for vaccinations is fueled by the potential for meningococcal infections to cause meningitis and septicemia, among other major health consequences. Through immunization programs, numerous countries throughout the world are actively promoting meningococcal vaccine. For instance, GSK plc reported promising findings for the MenABCWY combination vaccine candidate in the pivotal phase 3 clinical study in March 2023. Two doses of the vaccine will be given to anyone between the ages of 10 and 25.
North America is anticipated to have the highest revenue share during the forecast period owing to the high healthcare expenditure, robust immunization infrastructure, and stringent regulatory frameworks promoting vaccination uptake and compliance. Additionally, the Asia-Pacific is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly expanding population, increasing awareness of preventive healthcare measures, and government initiatives to enhance immunization coverage across the region. For instance, GlaxoSmithKline said in May 2022 that it intended to invest up to USD 3.3 billion in the purchase of the privately held biopharmaceutical company Affinivax. In preparation for the British pharmaceutical company’s impending split from its consumer sector, GSK is making a calculated strategic move to bolster its vaccination program.
By type, the quadrivalent vaccines segment accounted for the highest revenue-grossing segment in the global meningococcal vaccine market in 2023 owing to the increasing adoption rates, broad serogroup coverage, and strong efficacy against multiple strains of meningococcal bacteria. For instance, GSK reported encouraging phase 3 data for their experimental meningococcal vaccine candidate in November 2023. The vaccination was effective against several serogroups. Additionally, the bivalent vaccines segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for targeted protection against specific meningococcal serogroups and advancements in vaccine technology improving efficacy and safety profiles.
By brand, the Menactra and Menveo segments accounted for the highest revenue-grossing segment in the global meningococcal vaccine market in 2023 owing to the irrefutable clinical efficacy, widespread adoption in immunization programs, and established market presence. For instance, Sanofi Pasteur stated in January 2024 that it would be launching a meningococcal vaccine campaign in response to outbreaks of the disease, working with health authorities in multiple nations. Additionally, the Bexsero segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased awareness of serogroup B meningococcal disease risks and the vaccine’s effectiveness in protecting against this specific strain.
By age group, the children & adults segment accounted for the highest revenue-grossing segment in the global meningococcal vaccine market in 2023 owing to the increasing vaccination rates across all age groups and the expanded recommendation for meningococcal vaccination in both pediatric and adult populations. For instance, Pfizer reported encouraging phase 3 trial findings in September 2023 for its meningococcal vaccine candidate, demonstrating efficacy against serogroups A, C, W, and Y. Additionally, the infant segment is predicted to grow at the fastest CAGR during the forecast period owing to the implementation of routine immunization schedules targeting infants and the emphasis on early protection against meningococcal disease.
By serotype, the serotype B segment accounted for the highest revenue-grossing segment in the global meningococcal vaccine market in 2023 owing to the growing recognition of the prevalence and severity of serogroup B meningococcal disease and the need for effective vaccination strategies targeting this specific serotype. For instance, Merck stated in August 2023 that it would be working with a research institute to create a meningococcal vaccination for the next generation that would be more effective and provide longer protection. Additionally, the serotype C segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased emphasis on immunization against serogroup C meningococcal disease and the implementation of vaccination programs targeting this specific serotype.
By end-user, the hospital segment accounted for the highest revenue-grossing segment in the global meningococcal vaccine market in 2023 owing to the prevalence of vaccination programs, immunization campaigns, and routine vaccinations administered in hospital settings. For instance, Novartis AG’s meningococcal vaccination was granted regulatory approval in December 2023 for a new indication, so extending its use to new age ranges. Additionally, the pharmacy stores segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding accessibility of vaccines in pharmacy settings, increased public awareness, and convenience of obtaining vaccinations during routine visits.
Report Scope
- Base Year: 2023
- Forecast Period: 2024-2034
Study Coverage
- Market Forecast by Type, Brand, Age Group, Serotype, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Market Players
- GlaxoSmithKline plc
- Sanofi Pasteur
- Pfizer Inc.
- Merck & Co. Inc.
- Novartis AG
- CSL Limited
- Serum Institute of India
- Bharat Biotech
- Beijing Minhai Biotechnology Co. Ltd.
- Bio-Manguinhos (Fiocruz)
- Biomed Pvt. Ltd.
- Chongqing Zhifei Biological Products Co. Ltd.
- Hualan Biological Engineering Inc.
- Nuron Biotech
- Walvax Biotechnology Co. Ltd.
- 20% Free Customization Available to Meet Your Exact Requirements
Meningococcal Vaccine Market Analysis & Forecast by Type 2023-2034 (Revenue USD Bn)
- Bivalent
- Quadrivalent
- Others
Meningococcal Vaccine Market Analysis & Forecast by Brand 2023-2034 (Revenue USD Bn)
- Menactra
- Menveo
- Nimenrix
- Trumenba
- Bexsero
- Others
Meningococcal Vaccine Market Analysis & Forecast by Age Group 2023-2034 (Revenue USD Bn)
- Infants (0 to 2 years)
- Children and Adults (2 years & above)
Meningococcal Vaccine Market Analysis & Forecast by Serotype 2023-2034 (Revenue USD Bn)
- Serotype A
- Serotype B
- Serotype C
- Serotype W-135
- Serotype Y
Meningococcal Vaccine Market Analysis & Forecast by End-user 2023-2034 (Revenue USD Bn)
- Hospitals
- Pharmacy Stores
- Others
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $5.1 Billion |
| Forecasted Market Value (USD) by 2034 | $14.58 Billion |
| Compound Annual Growth Rate | 10% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/51h72v
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- Global Meningococcal Vaccine Market
