The meningococcal vaccine market has been experiencing significant growth in the past few years, thanks to the rising incidences of the disease worldwide. The valuation, as of 2024, is estimated to be around USD 3950.2 million and is slated to reach USD 9014 million by the end of 2034. Inferring to the ongoing trends, the industry is very likely to showcase a CAGR of 8.6% for the forecast period of 2024 to 2034.
According to the data, in 2019 there were approximately 2.51 million cases of meningitis globally, with 1.28 million cases in children under five years old. Concerns regarding the fatality of this disease have forced the general population to get themselves vaccinated. The trend is primarily observed in countries with well-established healthcare infrastructure, such as the United States, the United Kingdom, India, China, etc.
Growing awareness among both healthcare professionals and the general public about the seriousness of meningococcal disease is contributing to the increased demand for vaccines.
Besides this, government initiatives and immunization programs curated to prevent meningococcal disease are also driving market growth. Many countries have already implemented vaccination programs for infants, adolescents, and young adults, to reduce the incidence of meningococcal disease within their populations.
Medicare advancements leading to the development of more effective and convenient meningococcal vaccines are also one of the main reasons the industry is growing quickly. Key players in the market are investing heftily in curating newer vaccines that offer broader protection against multiple strains of meningococcal bacteria and require fewer doses. By doing so, they are attracting a substantial number of healthcare providers and patients.
The widening scope of vaccination recommendations by governments in the developed and developing parts of the world is also increasing the potential of this industry to flourish in the coming years.
| Attributes | Description |
|---|---|
| Estimated Global Meningococcal Vaccine Market Size (2024E) | USD 3950.2 million |
| Projected Global Meningococcal Vaccine Market Value (2034F) | USD 9014 million |
| Value-based CAGR (2024 to 2034) | 8.6% |
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Expansion of Vaccination Programs to Benefit Meningococcal Vaccine Market Growth
One crucial trend that is fueling the growth of meningococcal vaccine industry is the expansion of vaccination programs globally. Governments in various countries, with the help of private as well as public healthcare facilities, are increasingly including meningococcal vaccines in their national immunization schedules.
They are targeting not only infants and young children but also adolescents, college students, and travelers to regions where the disease is endemic.
Key Players are Developing New Vaccine Formulations
Post-pandemic, the pharmaceutical industry, across the world, has experienced a considerable transformation. Industry-giants are investing billions of dollars, which has led to more research and development activities.
This trend is also observed to be applying for meningococcal vaccines. The newly formulated vaccines are more efficient, safe, and convenient to use. Their adoption is also touching the skies as they provide protection against multiple strains of meningococcal bacteria.
High Costs of Vaccines to Hamper Adoption
Despite its health benefits, the high costs of meningococcal vaccines is the largest restraint slowing down this industry. In low-income countries, the healthcare facilities are very poor. This has kept an enormous number of underserved populations away from the industry.
This trend is often observed in Middle East and African countries, where people generally have low per capita incomes. Key players in this region must collaborate with government and international organizations to address the affordability issue and improve access to vaccines.
Plunge in Demand for Vaccines due to Hesitancy and Misinformation
In countries with lower literacy rates and poor healthcare infrastructure, there is an observed trend of vaccine hesitancy and misinformation among the general populace. This can pose significant challenge in the growth of meningococcal vaccine industry.
There’s also a challenge of logistics when it comes to delivering vaccines to remote or underserved areas. This can result in lower vaccination coverage rates, leaving populations vulnerable to meningococcal disease outbreaks.
The meningococcal vaccine market, in the past, has been showcasing a stable growth rate before the pandemic hit the world. The governments in various countries, with the help of international organizations like the World Health Organization and the International Monetary Fund were organizing vaccination campaigns in underdeveloped countries. These initiatives were quite successful in mitigating the disease.
With the pandemic, the shift of almost all healthcare facilities shifted towards minimizing the spread of the virus. Healthcare and pharmaceutical companies also concentrated all their research on the development of new COVID-19 vaccines. This negatively impacted the meningococcal industry. The closing of economies also meant that people had very little disposable income with them to afford costly vaccines.
With the opening of the economies, the world become accustomed to the new normal. Governments also continued their vaccination campaigns. Also, increased travel and the reopening of educational institutions spurred the demand for meningococcal vaccines, as these environments are prone to outbreaks. In the period between 2019 to 2023, the industry exhibited a CAGR of 7.9%.
In the time to come, as parents become increasingly aware of the fatality of meningococcal disease, the demand for these vaccines is very likely to rise noticeably.
Principal Consultant
The meningococcal vaccine market is categorized mainly into three: product type, age group, and distribution channel. The top two categories are discussed below.
Meningococcal vaccines come in two main types: conjugate and polysaccharide. As of 2024, the conjugate vaccine holds an industry share of 63.6%.
| Segment | Conjugate Vaccines (Product Type) |
|---|---|
| Value Share (2024) | 63.6% |
The clamor for conjugate vaccines as compared to the polysaccharide ones is touching the skies as they are more effective at providing long-lasting immunity and are better at reducing carriage and transmission of the bacteria. These vaccines also offer a stronger immune response, especially in young children, and offer greater protection across diverse populations.
Key players are actively targeting their vaccine campaigns to almost all age groups. Among these, the adolescents and young adult age group holds the majority share of 30.3%, in 2024.
| Segment | Adolescents and Young Adults (Age Group) |
|---|---|
| Value Share (2024) | 30.3% |
The adolescent and young adult demographic is generating tremendous demand for meningococcal vaccines as these age groups are at higher risk for contracting meningococcal disease, particularly in settings like schools, colleges, and military barracks. Besides this, awareness campaigns emphasizing the severe consequences of meningococcal disease are also compelling parents and young adults to prioritize vaccination.
The section describes the region-wise analysis of the global meningococcal vaccine market in the coming future. According to these numbers, it can be predicted that Western countries like the United States of America and the United Kingdom are very likely to have a promising growth rate in the next ten years. China is also one of the most lucrative countries in this industry in the Asian region.
| Countries | CAGR 2024 to 2034 |
|---|---|
| The United Kingdom | 9.8% |
| The United States | 9.4% |
| China | 9.5% |
| France | 9.0% |
| Germany | 8.7% |
The United Kingdom also is very likely to exhibit a CAGR of 9.8% through 2034 in the meningococcal vaccine market.
The United Kingdom, as a country, is blessed with a robust healthcare system. The government as well as the private medicare system in the country actively takes up various initiatives to promote the overall well-being of the general populace.
The United Kingdom’s strong national immunization program that includes meningococcal vaccines as part of routine childhood and adolescent vaccinations is also fueling an excellent demand for the industrial growth of the meningococcal industry.
The United States is one of the most prominent countries when it comes to the meningococcal vaccine market. It is very likely to register a CAGR of 9.4% through 2034.
The United States government is very particular about the spread of meningococcal disease among its population, especially the young and school-going children. They have even implemented mandatory meningococcal vaccination requirements for school and college entry. This is primarily done to ensure high vaccination coverage, which is in turn increasing the adoption of meningococcal vaccine.
The Chinese meningococcal industry is slated to show a 9.5% CAGR for the forecast period of 2024 to 2034.
The Chinese government, after the pandemic, has been emphasizing a lot on the general public’s overall well-being. This is the reason why the government is investing billions of dollars in the medical inclusivity of its population in the public healthcare system. This naturally has generated an enormous demand for meningococcal vaccines in the country.
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The competitive landscape of the global meningococcal vaccine market is primarily driven by innovations in vaccine formulations. The consumer base of the company in the industry totally depends on the efficiency, cost, and safety profile of the vaccine they formulate. Companies are also tying up with government and international organizations to expand their market reach and ensure wider vaccine accessibility.
Some of the most prominent companies in the industry are GlaxoSmithKline plc, Pfizer Inc., Sanofi Pasteur, Merck & Co., Inc., and Novartis AG.
Industry Updates
The sector is bifurcated into polysaccharides and conjugates.
The industry is segmented into infants, children, adolescents, young adults, and adults.
The sector is segmented into, pharmacies, community, clinics, public health agencies, and others.
The industry is divided into North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa
The global valuation is USD 3950.2 million as of 2024.
The market is expected to reach USD 9014 million by 2034.
The market is growing at a CAGR of 8.6% from 2024 to 2034.
GlaxoSmithKline plc, Pfizer Inc., Sanofi Pasteur, Merck & Co., Inc., and Novartis AG., are some of the major players.
In 2023, the global market was valued at USD 3638 million.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
5. Pricing Analysis
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
6.1. Type
6.2. Age Group
6.3. Serotype
6.4. End-User
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type
7.1. Bivalent
7.2. Quadrivalent
7.3. Others
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Age Group
8.1. Infants (0 to 2 years)
8.2. Children And Adults (2 years & above)
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Serotype
9.1. Serotype A
9.2. Serotype B
9.3. Serotype C
9.4. Serotype W-135
9.5. Serotype Y
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-User
10.1. Hospitals
10.2. Pharmacy Stores
10.3. Others
11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
11.1. North America
11.2. Latin America
11.3. Western Europe
11.4. South Asia
11.5. East Asia
11.6. Eastern Europe
11.7. Middle East & Africa
12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
14. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
15. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
17. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
18. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
19. Sales Forecast 2024 to 2034 by Type, Age Group, Serotype, and End-User for 30 Countries
20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
21. Company Profile
21.1. Pfizer Inc.
21.2. GlaxoSmithKline plc.
21.3. Sanofi SA
21.4. Serum Institute of India
21.5. Walvax Biotechnology Co., Ltd.
21.6. Incepta Pharmaceuticals Limited
21.7. Hualan Biological Engineering Inc.
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Meningococcal Vaccine Market
