Meningococcal Vaccine Market to Approach $5.9 Billion by 2027

15/feb/2021 12:57:36 Grand View Research Contatta l'autore

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The global meningococcal vaccine market size is expected to reach USD 5.9 billion by 2027, expanding at a CAGR of 9.5%, according to a new report by Grand View Research, Inc. Increasing prevalence of meningitis is one of the major factors attributed to the market growth. Furthermore, according to the European Centre for Disease Prevention and Control (ECDC), it was estimated that in 2017, 3,221 confirmed cases were observed in the EU member states, in which 58% of cases were found in the U.K., France, Spain, and Germany.

In addition, manufacturers are receiving Break Through Designation (BTD) for the development of improved vaccines as compared to available therapy. For instance, in February 2018, GlaxoSmithKline plc received BTD for Bexsero for extending its use in the age group below 11 years. Such initiatives are expected to improve meningococcal prevention, which in turn is anticipated to drive the market.

Initiatives undertaken by the government to combat the rising incidence of the disease is anticipated to boost the market growth. For instance, from April 2019, Nimenrix was made available for free as a part of the National Immunisation Program (NIP) for the age group 14 to 16 years. Nimenrix is a single dose quadrivalent meningococcal vaccine that targets serogroups A, C, W & Y.

Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/meningococcal-vaccines-market

The availability of vaccines at lower prices in countries with an increasing prevalence of meningococcal diseases is anticipated to fuel the revenue of the manufacturers and drive the market. For instance, under the Meningitis Vaccine Project, MenAfriVac costs less than USD 0.5 per dose.

Meningococcal Vaccine Market Report Highlights

·         In 2019, Bexsero was the largest-revenue holding brand in the market owing to its stronger demand in Europe and studies showing a decrease in meningitis cases

·         The quadrivalent segment is expected to witness the fastest growth over the forecast period due to its ability to target four serogroups and the availability of vaccines such as Menactra, Menveo, and Nimenrix

·         In the case of the age group segment, infants (0 to 2 years) are expected to witness a significant CAGR owing to the increasing prevalence of meningitis in the age group 9 months to 11 years

·         Asia Pacific is projected to witness the fastest growth during the forecast period owing to the high unmet needs and rising healthcare expenditure

·         North America dominated the market in 2019 due to the presence of key players and rising initiatives to raise awareness among healthcare professionals and patients

Meningococcal Vaccine Market Segmentation

This report forecasts revenue growth at global, regional, and country and provides an analysis of the latest industry trends in each of the sub-markets from 2016 to 2027. Grand View Research has segmented the global meningococcal vaccine market on the basis of type, brand, age group, and region:

Meningococcal Vaccines Type Outlook (Revenue, USD Million, 2016 - 2027)

·         Bivalent

·         Quadrivalent

·         Others

Meningococcal Vaccines Brand Outlook (Revenue, USD Million, 2016 - 2027)

·         Menactra

·         Menveo

·         Nimenrix

·         Trumenba

·         Bexsero

·         Others

 

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