New Report Meningococcal Vaccine Market Expected to Reach US$ 7.4 Billion by 2030, with a CAGR of 9.5%

COVINA, Calif., May 16, 2023 /PRNewswire/ -- According to Prophecy Market Insights "Meningococcal Vaccine Market accounted for US$ 3.0 Billion in 2020 and is estimated to be US$ 7.4 Billion by 2030 and is anticipated to register a CAGR of 9.5%".

What is the overview of Meningococcal Vaccine Market?

Meningococcal disease is caused by bacteria called as Neisseria meningitidis and includes infection of spinal cord, brain lining and bloodstream. It usually spreads from nearby infected areas such as the nasal sinuses or from the cerebrospinal fluid.

Growing prevalence of meningitis has given positive impact on target market growth. Increasing immunization initiatives by government and regulatory authorities in prevention of Meningococcal disease is further, expected to fulfill the demand for Meningococcal Vaccine Market growth.

What are the Recent Key Highlights of Meningococcal Vaccine Market?

• In March 2023, GSK announced its positive headline result from phase III clinical trial of 5 in 1 "MenABCWY" combination vaccine where vaccine candidate was well tolerated with Menveo and Bexcero safety profile consistent.
• In October 2022, U.S. FDA (Food and Drug Administration) approved "Menveo" (a Meningococcal Oligosaccharide Diphtheria CRM197 Conjugate Vaccine by group A, C, Y, and W-135) for individual of 10 to 55 years old to prevent meningococcal disease.

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Who are the Top Key players operating in the Meningococcal Vaccine Market?

• Pfizer Inc.
• Serum Institute of India ltd.
• Novartis AG
• Sanofi
• GlaxoSmithKline plc.
• Merck & o., Inc.

Report Scope:

What is Prophecy's Analyst View on Meningococcal Vaccine Market?

Growing awareness among individual regarding Meningococcal disease has become a key factor in market growth. Presence of major key players and ongoing research and development activities is further, anticipated to increase the demand for Meningococcal Vaccine market growth over the forecast period.

What are the different types of Meningococcal vaccines available in the market?

1. Conjugate Vaccines: Conjugate vaccines are the most widely used and recommended vaccines for meningococcal disease prevention. They are available for multiple serogroups, including serogroups A, C, W, Y, and, in some cases, serogroup B. Conjugate vaccines use a protein from the outer membrane of the meningococcal bacteria combined (conjugated) with a carrier protein to enhance the immune response.
2. Serogroup B Vaccines: Meningococcal serogroup B vaccines are specifically developed to protect against serogroup B meningococcal bacteria, which has been a significant cause of meningococcal disease. These vaccines employ various innovative technologies, such as recombinant proteins or outer membrane vesicles (OMV), to stimulate an immune response.
3. Polysaccharide Vaccines: Polysaccharide vaccines are older versions of meningococcal vaccines that are primarily effective against serogroups A, C, W, and Y. These vaccines use purified polysaccharides from the outer coating of the bacteria to induce an immune response. However, they are generally less effective in children under the age of two and do not provide long-term protection.

What are the Drivers of the Meningococcal Vaccine Market?

• Increasing incidence of meningococcal disease
• Growing awareness and focus on preventive healthcare
• Expanded immunization programs
• Technological advancements in vaccine development
• Favorable government policies and funding for vaccine development and immunization
• Growing demand for combination vaccines
• Increasing adoption of meningococcal vaccination in travelers and high-risk populations
• Rising demand for meningococcal vaccines in emerging markets
• Collaborations and partnerships between vaccine manufacturers and research organizations
• Growing research and development activities for new vaccines and treatment options.

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What are the Restrains of the Meningococcal Vaccine Market?

• Vaccine hesitancy and misinformation leading to lower vaccine uptake
• Stringent regulatory requirements for vaccine approval
• High costs associated with vaccine production and distribution
• Limited access to vaccines in developing countries
• Challenges in vaccine storage and transportation, especially in resource-limited settings
• Complex manufacturing processes for certain types of meningococcal vaccines
• Potential side effects or adverse reactions associated with vaccination
• Limited awareness and understanding of meningococcal disease and its vaccination benefits
• Lack of robust healthcare infrastructure in some regions impacting vaccine delivery and coverage
• Ethical and cultural considerations related to vaccine administration
• Competition from generic and biosimilar vaccine manufacturers impacting market share.

Key Reasons to Purchase the Report:

• Comprehensive market analysis with insights into market size, trends, and growth prospects.
• Accurate market forecasts for informed decision-making and investment strategies.
• Competitive intelligence with profiles of key market players.
• Identification of growth opportunities and strategies for market players.
• In-depth examination of regulatory landscape and impact of COVID-19.
• Analysis of emerging trends and technological advancements in vaccine development.
• Detailed segmentation analysis for a clear understanding of market segments.
• Customization options available for tailored business requirements.

Key questions answered in this report:

• What is the current market size of the Meningococcal Vaccine Market?
• What are the different types of meningococcal vaccines available in the market?
• What are the major factors driving the growth of the Meningococcal Vaccine Market?
• What are the challenges faced by the Meningococcal Vaccine Market?
• What are the growth opportunities in the Meningococcal Vaccine Market?
• Which regions or countries have the highest demand for meningococcal vaccines?
• Who are the key players operating in the Meningococcal Vaccine Market?

Browse Other Related Research Reports from Prophecy Market Insights:

Foot and Mouth Disease Vaccine Market accounted for US$ 1.96 billion in 2020 and is estimated to be US$ 4.04 billion by 2030 and is anticipated to register a CAGR of 7.50%

Vaccine Market accounted for US$ 50.07 billion in 2020 and is estimated to be US$ 102.97 billion by 2030 and is anticipated to register a CAGR of 7.50%

Influenza Vaccines Market accounted for US$ 5024.60 million in 2020 and is estimated to be US$ 9551.75 billion by 2030 and is anticipated to register a CAGR of 7.4%

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