Meningococcal Vaccines Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Meningococcal Vaccines Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Meningococcal Vaccines market is expected to register a CAGR of around 9.5% over the forecast period (2022-2027). The major factors for the growth of the meningococcal vaccine market include the increase in public-private partnerships to support the development of vaccines at low cost, and rising immunization programs and government initiatives.

The COVID-19 pandemic had a significant impact on the market studied in the initial months of the pandemic as people were not able to get the scheduled vaccinations owing to lockdown and restrictions on hospital visits for non-emergency services. However, during the year 2021 when the COVID-19 pandemic was in control, the vaccinations restarted which helped the market to re-gain its pace. Various studies have found that few cases of meningitis had suffered from COVID-19 during the years 2020 and 2021.

For instance, as per the data from the BMC Infectious Disease report published in February 2022, one of the most common causes of invasive bacterial infections, such as pneumonia, sepsis, and meningitis, is streptococcus pneumonia. Additionally, this bacteria is mostly in charge of secondary infections that follow post-viral respiratory sickness. Hence, co-infections with viral pathogens such as coronavirus can become a major cause of mortality and are linked to a severe course of the disease. The same data suggests that very few cases of co-infection were observed. Hence, the market studied was not majorly affected by the COVID-19 pandemic.

The increasing focus of companies to develop novel vaccines in the field of meningococcal disease is contributing to the market growth. For instance, in April 2022, experts from the University of Maryland School of Medicine (UMSOM) announced a new study in which they are evaluating the pentavalent or five-in-one meningococcal conjugate vaccine (NmCV-5) among infants and young children in the meningitis belt of sub-Saharan Africa. This is the final investigation to undergo for obtaining the prequalification from World Health Organization for this vaccine and if it qualifies the same, it will be launched in the low-and-middle-income countries. Hence, with such new vaccines, the market studied is getting benefits.

Also, there is a rising public-private partnership to support the development of vaccines and create awareness among the population. Hence, the Meningococcal Vaccines market is expected to witness high growth over the forecast period.

Internationally marketed meningococcal polysaccharide vaccines are bivalent (A and C), trivalent (A, C, and W-135), or tetravalent (A, C, Y, and W-135). The vaccines are purified, heat-stable, lyophilized capsular polysaccharides from meningococci of the respective serogroups. The vaccines have helped curb the exponential growth of the disease, and are expected to do so in the future as well. This is expected to help the market growth.

The polysaccharide vaccines continue to witness high traction from developing countries due to limited supply by few vaccine manufacturers, market forerunners are collaborating with local distributors to expand their footprint.

Data published in 2021 by the National Institute of Health suggests that people having diabetes are two times more likely to infect with meningitis. Diabetes is one of the most significant risk factors associated with meningitis. As per the 2022 data from International Diabetes Federation, around 537 million people were living with diabetes across the globe in 2021. Diabetes is one of the leading risk factors associated with the infection of meningitis.

As per the article published in 2020 titled, 'Diabetes mellitus as a risk factor for cryptococcal meningitis in immunocompetent,' studies have revealed that diabetes plays a crucial role in patients suffering from meningitis as it worsens the condition and if proper treatment is not taken, can lead to death. Hence, a high number of diabetic people across the globe has a direct impact on the market studied as diabetic people are more prone to infections with meningitis.

Hence, owing to the above-mentioned factors, it is expected that the segment will witness healthy growth over the forecast period.

United States is expected to be the largest meningococcal vaccine market owing to the rising awareness of the disease and the presence of better healthcare infrastructure. The rates of meningococcal disease declining in United States since the 1990s. As per the data published by the Center for Disease Control and Prevention (CDC), there has been an outbreak of meningococcal diseases in Florida, United States in 2021. To curb this outbreak, CDC has encouraged gay and bisexual men to get the MenACWY vaccine if they live in Florida. and created awareness among the population which boosted the demand for meningococcal vaccines in the country.

As United States is the most developed healthcare system across the globe, vaccination is the major priority for the government in the country. As a result, timely vaccination is carried out in United States which is further augmenting the growth of the meningococcal vaccines market in the country.

For instance, in United States, the Meningitis Foundation of America (MFA) is a non-profit organization dedicated to providing information and support to individuals who have had personal experiences with meningitis. Also, this foundation is to create awareness in the public and the medical communities about the initial symptoms of meningitis. Thus, owing to the all above-mentioned factors the Meningococcal Vaccines market is expected to witness steady growth over the forecast period.

In addition, the COVID-19 pandemic reduced the vaccination rate in United States during the years 2020 and 2021. For instance, as per the data published by the World Health Organization in May 2022, only 25 other vaccines apart from COVID-19 were introduced during the year 2021 in United States. Additionally, the coverage of vaccination rate dropped from 86% in 2019 to 81% in 2021. However, currently, vaccinations are being given as per the schedule and it is believed that the vaccination rate will go high rapidly in the coming years.

Hence, owing to the above-mentioned factors, it is believed that United States will witness a strong share in the global meningococcal vaccines market.

The market studied is a consolidated market owing to the presence of a few major market players. Some of the market players are Bio-Manguinhos, Biomed Pvt. Ltd, GlaxoSmithKline plc, Merck & Co., Inc., Novartis AG, Pfizer Inc., Sanofi Pasteur Inc., and Serum Institute of India Ltd.

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