What are the Historical Developments and Current Growth Metrics of the Meningococcal Vaccines Market?
The meningococcal vaccines market has seen considerable growth due to a variety of factors.
• The market size for meningococcal vaccines has seen accelerated growth in the past few years. It is projected to expand from a value of $3.89 billion in 2024 to a higher value of $4.29 billion in 2025, showcasing a compound annual growth rate (CAGR) of 10.3%.
This past growth can be attributed to factors such as disease prevalence, international travel tendencies, the standard of healthcare infrastructure, preparedness for epidemics, and the extent of health insurance coverage.
What are the Forecasted Growth and Key Factors of the Meningococcal Vaccines Market?
The meningococcal vaccines market is expected to maintain its strong growth trajectory in upcoming years.
• The market for meningococcal vaccines is anticipated to expand significantly in the forthcoming years, projecting an increase to $6.18 billion in 2029 with a compound annual growth rate (CAGR) of 9.5%.
Factors like the emergence of new disease strains, enhanced globalization, elevated healthcare spending, health initiatives, and evolving rules and regulations are responsible for the growth during the forecast period. The impending period will witness trends such as personalized vaccines, digitization in vaccination records, advancements in gene editing technologies, development of multi-valent vaccines, and subscription-based approaches to vaccines.
What Are The Core Factors Supporting Growth In Meningococcal Vaccines Market?
The surge in healthcare expenditures is slated to drive the expansion of the meningococcal vaccine market in the future. The term healthcare encompasses facilities such as residential care institutions, nursing homes, intermediate care facilities for individuals living with mental health disorders, or facilities offering care to those with intellectual disabilities. The substantial cost of newer vaccine generations relative to their earlier versions has sparked debates on whether the merits of these novel vaccines outweigh their price tags. Analyzing the comprehensive social and financial benefits of immunization is progressively turning into a crucial field of research within the literature dedicated to the valuation of vaccinations. For instance, an article released by the American Medical Association in May 2022 reported that healthcare expenses in the United States had seen an increase of 9.7% reaching $4.1 trillion, equivalent to $12,530 per individual. This rate of growth outpaces that of 2019 (4.3%). Consequently, the rise in healthcare expenditures is a key driver behind the growth of the meningococcal vaccine market.
How Is the Meningococcal Vaccines Market segmented?
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
Subsegments:
1) By Meningococcal Conjugate Vaccine: Quadrivalent Conjugate Vaccine (MenACWY), Bivalent Conjugate Vaccine
2) By Polysaccharide Vaccine: Meningococcal Polysaccharide Vaccine (MPSV4), Group C Polysaccharide Vaccine
3) By Subcapsular Vaccine: Meningococcal B Vaccine (MenB), Combination Subcapsular Vaccines
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What New Trends Are Influencing the Meningococcal Vaccines Market?
Prominent corporations in the meningococcal vaccines market are innovating new vaccines to prevent serogroups, with the aim to enhance their market profitability. The purpose of meningococcal vaccines is to guard persons against infections from specific serogroups of the bacterium Neisseria meningitidis. To illustrate, Pfizer Inc., a pharmaceutical company from the United States, attained FDA approval for the PENBRAYA vaccine in October 2023. Boasting extensive serogroup coverage, PENBRAYA is the broadest U.S.-approved meningococcal vaccine, offering protection against groups A, B, C, W, and Y. The FDA grounded its endorsement in solid Phase 2 and 3 trial data, which established non-inferior immunogenicity to Trumenba + Menveo across all serogroups, along with positive safety aspects. Pfizer disclosed encouraging results from a Phase 3 trial in September 2022, benchmarking PENBRAYA against currently licensed meningococcal vaccines regarding safety, tolerability, and immunogenicity.
Who Are the Key Players in the Meningococcal Vaccines Market?
Major companies operating in the meningococcal vaccines market include:
• Pfizer Inc.
• GlaxoSmithKline plc
• Sanofi Pasteur
• Merck & Co. Inc.
• Serum Institute of India Pvt. Ltd.
• Bio-Manguinhos
• Walvax Biotechnology Co. Ltd.
• Bavarian Nordic A/S
• Hualan Biological Engineering Inc.
• China National Pharmaceutical Group (Sinopharm)
• Bharat Biotech. Incepta Pharmaceuticals Ltd.
• Biological E. Limited
• Chongqing Zhifei Biological Products Co. Ltd.
• Biokangtai
• Biomed Pvt Ltd.
• Biocine SCL
• Panacea Biotec Ltd.
• Grifols S.A.
• CSL Limited
• Minhai Biotechnology Co. Ltd.
• Chiron Behring Vaccines Pvt. Ltd.
• Shenzhen Kangtai Biological Products Co. Ltd.
What Is The Most Dominant Region In The Meningococcal Vaccines Market?
North America was the largest region in the meningococcal vaccines market in 2024. Asia-Pacific is expected to be the fastest-growing region in the meningococcal vaccines market report during the forecast period. The regions covered in the meningococcal vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
