The meningococcal vaccines market has experienced rapid growth, increasing from $3.57 billion in 2023 to $3.94 billion in 2024, with a compound annual growth rate (CAGR) of 10.5%. This growth is attributed to factors such as disease incidence, global travel patterns, healthcare infrastructure improvements, epidemic preparedness, and expanded health insurance coverage. The market is expected to reach $5.69 billion by 2028, at a CAGR of 9.6%. Future growth is driven by emerging new strains, increasing globalization, healthcare investments, health initiatives, and evolving regulatory frameworks. Key trends include personalized vaccines, digital vaccination records, advancements in gene editing, multi-valent vaccines, and subscription-based vaccine models.
Major Driver In The Meningococcal Vaccines Market
An increase in healthcare spending is expected to propel the growth of the meningococcal vaccine market going forward. Healthcare, encompassing various institutions and services catering to individuals' medical needs, faces escalating expenses, particularly concerning new vaccine generations. The discussion on whether the benefits of new vaccinations justify their prices has become paramount. Evaluating the complete social and economic advantages of vaccination is increasingly emphasized in literature on valuing vaccination. For example, in May 2022, an article published by the American Medical Association highlighted a 9.7% rise in healthcare spending in the United States, reaching $4.1 trillion, or $12,530 per person. This growth rate significantly surpassed that of 2019. Hence, the upsurge in healthcare spending propels the meningococcal vaccine market. Furthermore, in 2024, the meningococcal vaccine market experienced substantial growth, reaching a valuation of $6.8 billion. Projections for 2028 suggest continued expansion, with estimates surpassing $10 billion.
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Meningococcal Vaccines Market Competitive Landscape
Pfizer Inc., Johnson and Johnson Services Inc., Sinopharm Group Co Ltd., Merck & CoInc., Novartis AG, Sanofi S.A, AstraZeneca plc, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Baxter International Inc., CSL Limited, Seqirus Pty Ltd., Sinovac Biotech Ltd., Emergent BioSolutions Inc., Walvax Biotechnology Co Ltd., Hualan Biological Engineering Inc., Beximco Pharmaceuticals Ltd., Bavarian Nordic A/S, JN-International Medical Corporation, Valneva SE, Serum Institute of India Pvt Ltd., Incepta Pharmaceuticals Ltd., Biological E. Limited, LG Chem Life Sciences Company, Chongqing Zhifei Biological Products Co, Protein Sciences Corporation, Bharat Biotech Ltd., Bio-Med Limited, Bio-Manguinhos, Nuron Biotech Ltd.
Key Meningococcal Vaccines Market Trend
Major companies operating in the meningococcal vaccines market are developing new vaccines for the prevention of serogroups to increase their profitability in the market. Meningococcal vaccines are preventive measures designed to protect individuals against infections caused by specific serogroups of the bacteria Neisseria meningitidis. For instance, in October 2023, Pfizer Inc., a US-based pharmaceutical company received approval from FDA for the vaccine PENBRAYA. PENBRAYA, with extensive serogroup coverage, is the most comprehensive U.S.-approved meningococcal vaccine, safeguarding against groups A, B, C, W, and Y. FDA approval is grounded in robust Phase 2 and 3 trial data, confirming non-inferior immunogenicity to Trumenba + Menveo across all serogroups, coupled with favorable safety. Pfizer's September 2022 announcement revealed positive outcomes from a Phase 3 trial, comparing PENBRAYA to existing licensed meningococcal vaccines in terms of safety, tolerability, and immunogenicity.
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Meningococcal Vaccines Market Segmentation
The meningococcal vaccines market covered in this report is segmented –
1) By Vaccine Type: Meningococcal Conjugate Vaccine, Polysaccharide, Subcapsular Vaccine
2) By Serotype: Men Acwy, Men B/Bc, Men C
3) By Age Group: Infants, Children, Adolescents and Young Adults, Adults
4) By Distribution Channel: : Pharmacies, Community Clinics, Public Health Agencies, Other Channels
5) By End user: Hospitals, Research, Academic Institutes
By Geography:The regions covered in the meningococcal vaccines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the meningococcal vaccines market in 2023.
The Meningococcal Vaccines Global Market Report 2024 furnishes information about the global meningococcal vaccines market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
