What are the Historical Developments and Current Growth Metrics of the Menveo Market?
The menveo market has seen considerable growth due to a variety of factors.
• The market size of Menveo has seen a substantial growth of XX (HCAGR) in the past few years. The market value is projected to increase from $XX million in 2024 to $XX million in 2025, with a compound annual growth rate (CAGR) of XX%.
This historical growth trend can largely be ascribed to public immunization schemes, high incidence of meningococcal disease, robust healthcare structure, international travel stipulations, and compulsory military vaccinations.
What is the Forecasted Market Size and CAGR for the Menveo Market?
The menveo market is expected to maintain its strong growth trajectory in upcoming years.
• It is anticipated that the Menveo market size will witness a forecasted CAGR of XX% in the upcoming years, growing to a value of $XX million by 2029 .
This projected growth over the forecast period can be attributed to factors such as population increase, heightened healthcare consciousness, increased travel, expanded school vaccine mandates, and growth in emerging markets. Key trends observed during the forecasts period include the increasing use of combination vaccines, emphasis on booster doses, heightened demand in emerging economies, improvements in cold-chain distribution and strategic partnerships to increase market infiltration.
What Key Factors and Trends Are Driving The Growth Menveo Market?
The growing incidence rate of meningitis, an infection that leads to swelling of protective membranes around the brain and spinal cord, is anticipated to boost the menveo market's progress. Various issues like viral, bacterial or fungal infections cause this disease. Furthermore, elements such as antibiotic resistance, compromised immune systems, and global mobility contribute to the disease's dispersion. The menveo, a meningococcal vaccine, assists in lessening the frequency of meningitis by safeguarding against multiple strains of Neisseria meningitides - a primary cause of bacterial meningitis. Extensive usage of menveo in immunisation initiatives aids in preventing disease outbreaks and minimizing its transmission. For instance, UK Health Security Agency, a governmental agency based in UK, confirmed in August 2024, that the meningococcal reference unit (MRU) has reported an escalated number of invasive meningococcal disease (IMD) cases - a jump from 205 cases in 2021 to 2022, to 396 cases in 2022 to 2023. Thus, the augmenting incidence of meningitis is fuelling the expansion of the menveo market.
What Are The Market Segments In The Menveo Market?
The menveo market covered in this report is segmented –
1) By Type of Vaccine: Conjugate Vaccine, Combination Vaccine
2) By Indication: Meningococcal Disease Prevention, Routine Immunization, Outbreak Control, Travel Vaccination
3) By Age Group: Infants and Young Children, Adolescents, Adults, Older Adults
4) By End User: Hospitals, Vaccination Clinics, Travel Clinics, Academic And Research Institutions, Military And Government Facilities
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Which Emerging Market Trends Are Altering The Menveo Industry?
A primary trend in the Menveo market is the advancement of novel vaccine formulations, such as single-vial, fully liquid formulations. This develops improved convenience, intensifies stability, and simplifies vaccine management. The single-vial, fully liquid formulations denote pre-mixed pharmaceutical products contained in one vial, where the active ingredients are dissolved and ready for use. In November 2024, the European Commission (EC) granted approval to GlaxoSmithKline (GSK) plc, a pharmaceutical company from the United Kingdom, for a new variation of its Menveo meningococcal vaccine. The vaccine, designed for active immunization against invasive meningococcal disease (IMD) triggered by serogroups A, C, W, and Y, is now authorized for use in children two years and above, adolescents, and adults. The primary characteristics of this approved vaccine include its authorization for active immunization within the European Union for children aged two and above, adolescents, and adults. Moreover, the new single-vial, fully liquid presentation negates the requirement for reconstitution prior to use.
Who Are the Key Players In The Menveo Market?
Major companies operating in the menveo market include:
• GlaxoSmithKline (GSK) Plc
What Are The Regional Insights Into The Menveo Market?
North America was the largest region in the menveo market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the menveo market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
