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Meningococcal Vaccines Market Analysis | Coherent Market Insights

Read here the market research report on u201cMeningococcal Vaccines Marketu201d published by CMI team.

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Meningococcal Vaccines Market Analysis | Coherent Market Insights

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  1. Coherent Market InsightS Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. Meningococcal Vaccines Market Analysis (2020-2027) • Meningococcal vaccine is used to prevent diseases caused due to Neisseria meningitidis, also known as meningococcus, is a Gram-negative bacterium that can cause meningitis and other forms of meningococcal disease such as meningococcemia. • The global meningococcal vaccines market is estimated to account for US$ 3,341.9 Mn in terms of value and is expected to reach US$ 7,732.3 Mn by the end of 2027.

  3. Global Meningococcal Vaccines Market: Drivers • Significant number of people travelling to sub-Saharan Africa is expected to propel growth of the global meningococcal vaccines market over the forecast period. For instance, according to World Economic Forum’s, 2018 report, 37.4 million tourist arrivals were recorded in Sub-Saharan Africa in 2017. • Moreover, recommendation of various regulatory bodies for meningococcal vaccination is also expected to aid in growth of the market. For instance, the Centers for Disease Control and Prevention recommends meningococcal vaccines for preteens, teens, and certain other people.

  4. s • North America held dominant position in the global meningococcal vaccines market in 2019, accounting for 36.8% share in terms of value, followed by Asia Pacific and Europe respectively.

  5. Figure 1. Global Meningococcal Vaccines Market Share (%), by Value, by Region, 2019

  6. Global Meningococcal Vaccines Market: Restraints • Significant variations in the incidences and epidemiology of meningococcal disease have been observed both geographically and over time. Thus, broad coverage targeting as many serogroups as possible is needed. The risk associated with travelers is unpredictable making it more difficult to provide evidence-based vaccine recommendations. Such scenario is expected to hinder growth of the market. • Moreover, meningococcal vaccination is optional in several countries, which is also expected to limit the market growth.  

  7. Global Meningococcal Vaccines Market: Opportunities  • Development of vaccines that do not depend on very narrow range temperatures for storage is expected to offer lucrative growth opportunities for players in the market. Till date, there is only one meningococcal vaccine- MenAfriVac that has been approved for use outside the cold chain. • Development of vaccines through collaborations and public private partnerships is also expected to aid in market growth. The innovative MenAfriVac meningococcal vaccine was developed through collaboration between the PATH-WHO Meningitis Vaccine Project, an Indian vaccine manufacturer Serum Institute of India Ltd., and public health officials in India and several African countries.

  8. s • The development was aimed at providing an effective, long-term, and affordable solution to epidemics caused due to meningococcal disease in the African meningitis belt. Such initiatives are expected to aid in development of affordable meningococcal vaccines. • The global meningococcal vaccines market was valued at US$ 2,965.9 Mn in 2019 and is forecast to reach a value of US$ 7,732.3 Mn by 2027 at a CAGR of 12.7% between 2020 and 2027.

  9. Figure 2. Global Meningococcal Vaccines Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

  10. Market Trends/Key Takeaways • In Europe, there is low meningococcal vaccination coverage among children up to five years old and there is also knowledge gaps about invasive meningococcal disease. For instance, according to the study, ‘Parental Knowledge about Meningococcal Disease and Vaccination Uptake among 0–5 years Old Polish Children,’ published in International Journal of Environmental Research and Public Health, in January 2019, only 18.8% of parents self-assessed their knowledge regarding invasive meningococcal disease as good. • Knowledge regarding the disease was higher among parents with higher educational level.

  11. s • Moreover, awareness regarding meningococcal b vaccine among pediatricians in Italy was found to be low. For instance, according to the study, ‘Awareness, Attitudes, and Practices Toward Meningococcal B Vaccine among Pediatricians in Italy’, published in December 2018, only 28.0% knew the vaccination schedule for meningococcal B serogroup for children aged two years or under.

  12. Regulations • U.S. • The approval of any vaccine in the U.S. is an extensive process that requires submission of a Biologics License Application (BLA) by the vaccine manufacturer. • The FDA medical and scientific staff then executes a detailed assessment of data supporting the safety and effectiveness of the vaccine, and quality of the manufacturing process.

  13. Global Meningococcal Vaccines Market: Competitive Landscape • Major players operating in the global meningococcal vaccines market include, Baxter International, Inc., Biomed Pvt. Ltd., GlaxoSmithKline plc, JN-International Medical Corporation, Novartis International AG., Pfizer, Inc., Sanofi SA, and Serum Institute of India Ltd.

  14. Global Meningococcal Vaccines Market: Key Developments • Major players in the market are focused on approval and launch of new vaccines to expand their product portfolio. For instance, in April 2020, The U.S. Food and Drug Administration (FDA) granted a Biologics License Application for Sanofi’sMenQuadfi Meningococcal (Groups A, C, Y, W) Conjugate Vaccine for the prevention of invasive meningococcal disease in persons 2 years of age and older. • Major players in the market are also focused on expanding their production capacity. For instance, in September 2019, Serum Institute of India Pvt. Ltd. started a new plant in Pune, India.

  15. Request sample copy here • Request pdf brochure here • Request Customization here • Talk to Analyst • Buy Now • Reference: • https://www.coherentmarketinsights.com/market-insight/meningococcal-vaccines-market-3864

  16. About Us: • Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. • What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  17. Contact Us: • Mr. Shah • Coherent Market Insights Pvt. Ltd. • Address: 1001 4th ave, #3200 Seattle, WA 98154, U.S. • Phone: +1-206-701-6702 • Email :sales@coherentmarketinsights.com

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