Global Meningococcal Vaccine Market Worth USD 6.14 Billion With a CAGR of 9.3%

Introduction

Invasive meningococcal disease (IMD) is a bacterial infection caused by a Gram-negative coccus, Neisseria meningitidis. IMD encompasses a spectrum of infections, including meningitis, bacteremia (meningococcemia), and bacteremia pneumonia. Although the frequency of meningococcal disease is modest, it is associated with a high fatality rate of up to 50 percent if left untreated and frequently leads to severe sequelae. Meningococcal meningitis infects the lining of the brain and spinal cord and has the potential to generate massive outbreaks and endemics. The disease is transmitted through direct contact with respiratory or throat secretions of infected or asymptomatic carriers. Twelve serogroups contain several serotypes of Neisseria meningitidis, but just five, A, B, C, W, and Y, are responsible for the majority of illnesses globally.

Market Dynamics

Surge in Immunization Programs across the Globe Drives the Global Market

Vaccination is used to achieve immunization, strengthening the body's immunity to infections. In addition, it aids in preventing diseases, which can cause widespread devastation inside communities. This has resulted in the active participation of governments across the globe in the introduction of numerous vaccinations as part of their national immunization programs. In addition, a number of nations have adopted vaccination schedules for meningococcal vaccines, including dosage schedules for adults and children. For instance, the MenA vaccine has been approved and implemented in nearly 22 countries and is part of routine immunization in eight countries inside the meningitis belt. Thus, an increase in immunization programs contributes to expanding the global market.

Increase in Healthcare Spending and High Growth Potential in Emerging Markets Creates Tremendous Opportunities 

An increase in healthcare expenditures due to a rise in concern for the cure and treatment of various bacterial illnesses and the development of cost-effective vaccinations are expected to contribute considerably to the market's growth. In addition, an increase in knowledge regarding early prevention and vaccinations and a rise in physicians' preferences for vaccinations are likely to grow the demand for meningitis vaccines over the projection period. There is profitable potential for meningitis vaccines in emerging economies due to increased childbirths paired with a high risk of infections due to newborns' limited immunity, the high danger associated with meningitis, and growth in immunization awareness. In addition, the rise in disposable income and healthcare spending in developing regions are anticipated to present lucrative prospects for advancing the worldwide meningococcal vaccine market.

Regional Analysis

North America held the largest market share and is anticipated to exhibit a CAGR of 9.2% during the forecast period. Rising knowledge regarding meningococcal vaccinations among healthcare professionals and patients, a well-developed healthcare infrastructure, and easy product availability drive market expansion in North America. In addition, the easy accessibility of meningococcal vaccinations and their incorporation into routine vaccination programs contribute to developing the North American market. In addition, an increase in outbreaks of other meningococcal serogroups, such as MenC, MenB, and MenW, is a crucial factor in the region's market expansion. For instance, following an epidemic of MenB at San Diego State University (SDSU), SDSU recently stated that all incoming students would be required to be vaccinated against meningococcal serogroup B beginning in the fall of 2019 semester. Due to the increase in outbreaks, the need for meningococcal vaccinations has increased in the region.

Europe is projected to grow at a CAGR of 9.6% during the forecast period. The increase in awareness regarding the use of meningococcal vaccines and the increase in the adoption of meningococcal vaccination in Europe contribute to expanding the meningococcal vaccine market. The European meningococcal market is anticipated to grow due to increased disease incidence, an older population, and the need for awareness campaigns. In addition, the meningitis market in the U.K., the Netherlands, France, and Germany is anticipated to experience considerable expansion due to increased demand for cost-effective vaccinations such as Men ACYW, Men B/BC, and Men C/CY, which includes vaccine resistance, safety, and cost-effectiveness. In addition, significant players such as GSK Plc, Pfizer, and Sanofi in the region contribute to the market's growth. The European Medicines Agency (EMA) authorized GlaxoSmithKline Plc's alternative 2+1 dose schedule for its Bexsero vaccine to protect newborns against invasive meningococcal disease (IMD) caused by serotype B. (meningitis B). In addition, the rise in the use of meningococcal vaccinations in universal regular vaccination programs in the region is a significant driver driving market expansion.

Key Highlights

• The global meningococcal vaccine market was valued at USD 2,762 million in 2022. It is estimated to reach USD 6,149 million by 2031, growing at a CAGR of 9.3% during the forecast period (2023–2031).
• Based on vaccine serotype, the global meningococcal vaccine market is divided into MenACWY, MenB/BC, MenC, MenAC, and MenA. The MenACWY segment is responsible for the largest market share and is anticipated to expand at a CAGR of 11.5% throughout the forecast period. 
• The global meningococcal vaccine market is bifurcated into conjugate, polysaccharide, and subcapsular vaccines based on the vaccine type. The conjugate vaccine segment dominates the market and is projected to develop a CAGR of 10.0% over the forecast period. 
• The global meningococcal vaccine market is segmented into pediatric, adults, and travelers based on the end-user. The pediatric segment owns the market and is estimated to grow at a CAGR of 9.8% during the forecast period.
• North America held the largest market share and is anticipated to grow at a CAGR of 9.2% during the forecast period.

Competitive Players

Competitive Players

The key players in the global meningococcal vaccine market are GlaxoSmithKline Plc., Sanofi S.A., Pfizer Inc., Serum Institute of India Pvt. Ltd, Bio-Manguinhos, Bio-Med Pvt. Limited, Chongqing Zhifei Biological Products Co., Ltd., Hualan Biological Engineering Inc., Incepta Pharmaceuticals Ltd., and Walvax Biotechnology Co., Ltd.

Recent Developments

Market News

• In December 2022, The Food and Drug Administration (FDA) approved Pfizer's request for clearance of its pentavalent meningococcal vaccination candidate for evaluation (MenABCWY). The firm submitted a biologics license application (BLA) for MenABCWY to prevent meningococcal illness caused by the most prevalent serogroups in individuals aged 10 to 25.
• In October 2022, GSK received FDA approval for a single-vial formulation of its meningococcal disease vaccine Menveo, eliminating the need for reconstitution since its 2010 introduction.

Segmentation

Global Meningococcal Vaccine Market: Segmentation

By Vaccine Serotype

• MenACWY
• MenB and MenBC
• MenC
• MenA
• MenAC

By Vaccine Type

• Conjugate
• Polysaccharide
• Subcapsular

By End-User

• Pediatric
• Adult
• Travelers

By Regions

• North America 
• Europe
• Asia-Pacific 
• LAMEA