Meningococcal Vaccines Market Size - Global Industry, Share, Analysis, Trends and Forecast 2023 - 2032

The Meningococcal Vaccines Market Size accounted for USD 3.3 Billion in 2022 and is estimated to achieve a market size of USD 7.4 Billion by 2032 growing at a CAGR of 8.5% from 2023 to 2032.

Meningococcal Vaccines Market Highlights

• Global meningococcal vaccines market revenue is poised to garner USD 7.4 billion by 2032 with a CAGR of 8.5% from 2023 to 2032
• North America meningococcal vaccines market value occupied around USD 1.9 billion in 2022
• Asia-Pacific meningococcal vaccines market growth will record a CAGR of more than 9% from 2023 to 2032
• Among type, the conjugate vaccines sub-segment generated over US$ 1.7 billion revenue in 2022
• Based on end-user, the hospital pharmacies sub-segment generated around 44% share in 2022
• Focus on education and awareness campaigns for broader vaccine adoption is a popular meningococcal vaccines market trend that fuels the industry demand

Meningococcal vaccines are utilized to prevent meningitis caused by the bacterium Neisseria meningitidis. Previously, there were no precise preventive measures available to avoid meningitis. Antibiotics, along with supplemental treatments, were used to manage this disease after confirmation of the infection. However, the advent of the meningococcal vaccination has enabled the prevention of meningitis. The increasing global incidence of meningitis serves as a major driving force for this market. Additionally, the rising awareness levels regarding diseases and their respective vaccines contribute to the growth of the meningococcal vaccine market. The requirement for a cold chain system during vaccine distribution leads to an increase in vaccination costs, serving as a significant limiting factor for this market.

Global Meningococcal Vaccines Market Dynamics

Market Drivers

• Increasing awareness and vaccination drives against meningococcal disease
• Government initiatives mandating vaccinations in certain demographics
• Technological advancements leading to improved vaccine efficacy
• Growing healthcare expenditure and infrastructure development globally

Market Restraints

• Cold chain requirements impacting vaccine storage and distribution
• High production costs affecting market accessibility
• Limited availability and accessibility in underdeveloped regions

Market Opportunities

• Research and development for innovative vaccines with improved storage conditions
• Expansion into untapped markets through strategic partnerships
• Collaborations with governments for subsidized vaccine programs

Meningococcal Vaccines Market Report Coverage

Meningococcal Vaccines Market Insights

The National Association of School Nurses, a non-profit organization specializing in nursing, collaborates with Sanofi Pasteur in the Voices of Meningitis campaign, a public health initiative aimed at preventing meningococcal disease among children and teenagers. Non-profit organizations like the National Meningitis Association (NMA) seek partnerships with government agencies, industries, and other non-profits to raise awareness about meningococcal disease, its prevention, and the urgent need for immediate treatment upon diagnosis. Healthcare facility visits should be utilized to assess vaccination statuses and administer recommended vaccines to maximize youth vaccination access. Alternative sites such as schools or pharmacies can also be leveraged to expand vaccination opportunities. Increasing coverage rates of meningococcal vaccination programs worldwide are likely to further enhance vaccine accessibility.

Maintaining a cold chain (comprising a series of refrigerators and ice-chilled transporters that uphold temperatures between 2 degrees Celsius and 8 degrees Celsius for vaccine storage) poses a significant challenge when delivering vaccines to underserved areas, particularly in developing countries. The development of vaccines that do not rely on stringent temperature ranges for storage and transportation, allowing doses to be transported outside the cold chain, is projected to reduce vaccination costs, enhance delivery in developing nations, and provide healthcare workers with greater flexibility in reaching those in need. However, conducting these studies can be costly and is known to be beneficial only in the case of polysaccharide vaccines, not conjugate vaccines. Polysaccharide vaccines can withstand occasional temperature variations, while conjugate vaccines require continuous cold storage. Any deviation in temperature could render a conjugate vaccine ineffective and unusable.

The global meningococcal vaccines market is driven by strong public-private partnerships aimed at developing cost-effective vaccines and the medical emergency status of the infection. Increased demand for vaccines and higher vaccination rates have significantly contributed to educational and awareness campaigns conducted by manufacturers and non-profit organizations in developed nations. Government intervention, such as enacting legislation mandating vaccination programs for young students up to a specific age and implementing stringent regulations for Hajj pilgrims and sub-Saharan travelers, also fuels the market due to heightened demand from non-profit organizations.

The primary factor responsible for low demand for meningococcal vaccines is the awareness gap, which is expected to adversely affect revenue growth in the global meningococcal vaccines market. There is a need to initiate community awareness programs about the disease and the importance of administering approved vaccines to control the spread of meningococcal meningitis on a global scale. This initiative can be launched by the government and healthcare organizations in collaboration with hospitals and clinics to educate parents and create the necessary awareness to encourage the adoption of meningococcal vaccines.

Meningococcal Vaccines Market Segmentation

The worldwide market for meningococcal vaccines is split based on type, serotype, age group, end-user, and geography.

Meningococcal Vaccine Types

• Polysaccharide Vaccines
• Conjugate Vaccines
• Combination Vaccines
• Other Types

According to meningococcal vaccines industry analysis, the conjugate vaccines segment is expected to dominate the global market. This anticipation stems from the widespread use of conjugate meningococcal vaccines, known for their superiority over polysaccharide vaccines. Conjugate vaccines exhibit greater and longer-lasting immunity, support immunologic memory, and provide protection to infants. Conjugate vaccines effectively reduce the incidence of bacterial meningitis due to their extended vaccination effect across multiple bacteria serogroups. Prominent brands of conjugate vaccines include MenAfriVac, Nimenrix, Menactra, Meningitec, NeisVac-C, and Menveo.

Polysaccharide vaccines offer immunity for a short duration. Major brands of polysaccharide vaccines comprise NmVac4, Menomune, Bi Meningo, Mencevax, and QuadriMeningo. Combination vaccines are formulated by combining with another microorganism. Key brands of combination vaccines encompass Menitorix and MenHibrix.

Meningococcal Vaccine Serotypes

• MenACWY
• MenB & Manic
• MenC
• MenA
• MenAC

The market for meningococcal vaccines is led by the MenACWY serotype. The extensive coverage this segment provides against many types of meningococcal bacteria (A, C, W, and Y) accounts for its supremacy. For teenagers and young adults, the MenACWY vaccination is highly recommended as it provides broad protection against many serogroups. Because of their wide coverage and advised immunisation schedule, MenACWY vaccines are the industry leader in meningococcal illness prevention against a variety of strains.

Meningococcal Vaccine Age Groups

• Infants (0 to 2 years)
• Children And Adults (2 years & above)

The market segment that leads the meningococcal vaccines market is children and adults (2 years & above). This category is dominated by recommendations for vaccines for those 2 years of age and older, which cover a greater population. This age group is frequently given priority in vaccination campaigns and regular immunisation schedules, which emphasise preventive measures against meningococcal illness. Although the age group of 0 to 2 years old is significant, older children and adults also have greater vaccination rates, which adds to the segment's dominance in the market.

Meningococcal Vaccine End-Users

• Retail Pharmacies
• Hospital Pharmacies
• Others

The end-use sector that is dominating the meningococcal vaccines market is hospital pharmacies and it is expected to maintain dominance throughout the meningococcal vaccines industry forecast period. Hospitals are important distribution centres for vaccinations, especially those that need special handling, administration, and storage procedures. Hospital pharmacies guarantee quick and easy access to vaccinations for routine medical procedures, emergency situations, and preventive immunisation campaigns. Hospital pharmacies play a major role in the market's supremacy because to their infrastructure, professional competence, and ability to handle different types of vaccines. They also provide extensive accessibility and vaccination adherence.

Meningococcal Vaccines Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Meningococcal Vaccines Market Regional Analysis

The global industry is expected to grow during meningococcal vaccines market forecast period due to advancements in the healthcare industry, government initiatives, increased healthcare expenditure, rising product approvals, and a growing patient population. North America and Europe are projected to dominate this market, owing to the presence of key players and advanced healthcare facilities. North America, particularly the U.S., is anticipated to be highly lucrative due to its focus on research and development, hosting leading companies in this field.

The Asia Pacific region, notably China and India, is expected to witness significant growth due to improvements in healthcare infrastructure and increased government spending on medical services. Emerging economies like Brazil, Russia, India, China, and South Africa are becoming pivotal in global health initiatives and investments. Despite facing healthcare challenges, these countries are investing in research and development for innovative healthcare technologies. For instance, India's Government is investing in early-stage R&D, resulting in the development of MenAfriVac, aimed at Sub-Saharan Africa. The Serum Institute of India Ltd. played a critical role in reducing costs and improving access to this vaccine, showcasing the potential benefits of producing high-quality, low-cost vaccines in developing nations.

Meningococcal Vaccines Market Players

Some of the top meningococcal vaccines companies offered in our report includes Baxter International, Biomed Pvt. Ltd., GlaxoSmithKline plc, JN-International Medical Corporation, Novartis International, Nuron Biotech, Pfizer Inc., Sanofi SA, Walvax Biotechnology Co., Ltd., and Serum Institute of India Ltd.