Market Trends of Meningococcal Vaccines Industry
Polysaccharide Vaccine 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. Initiatives such as product approvals are another factor in segmental growth. For instance, in September 2022, Pfizer Inc.'s investigational Group B Streptococcus (GBS) vaccine candidate, GBS6 or PF-06760805, received Breakthrough Therapy Designation from the US FDA for the prevention of invasive GBS disease due to the vaccine serotypes in newborns and young infants by active immunization of their mothers during pregnancy. Hexavalent anti-capsular polysaccharide (CPS) / cross-reactive material 197 glycoconjugates (GBS6) is an investigational maternal vaccine being developed to help prevent invasive Group B Streptococcus (GBS) in newborns. Thus, such approvals are expected to increase its adoption, which is expected to increase segmental growth over the forecast period.
- Data published in 2021 by the National Institute of Health (NIH) suggests that people with diabetes are two times more likely to be infected with meningitis. Diabetes is one of the most significant risk factors associated with meningitis. As per the 2022 data from the 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.
- Hence, owing to the above-mentioned factors, it is expected that the segment will witness healthy growth over the forecast period.
Understand The Key Trends Shaping This Market
Download Sample
North America is Expected to Hold Largest Market Share over the Forecast Period
- The 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 have been declining in the United States since the 1990s. As per the data published by the Centers for Disease Control and Prevention (CDC), there has been an outbreak of meningococcal diseases in Florida, United States, in 2021. In an effort to contain this outbreak, the CDC has strongly recommended that gay and bisexual men residing in Florida receive the MenACWY vaccine. This proactive measure has raised awareness among the population and significantly increased the demand for meningococcal vaccines across the nation.
- As the United States has 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 the United States, which is further augmenting the growth of the meningococcal vaccine market in the country.
- For instance, in the 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 above-mentioned factors, the meningococcal vaccine market is expected to witness steady growth over the forecast period.
- In addition, the COVID-19 pandemic reduced the vaccination rate in the United States during the years 2020 and 2021. For instance, as per the data published by WHO in May 2022, only 25 other vaccines apart from COVID-19 were introduced during the year 2021 in the 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 the United States will witness a strong share in the global meningococcal vaccine market.
Get Analysis on Important Geographic Markets
Download Sample
