05 October 2021
Visiongain has published a new report on Meningococcal Vaccines Market Report 2021-2031: Forecasts by Vaccine Type (Conjugate, Polysaccharide, Others), by End-user (Paediatric, Adult, Traveler), by Brand (Bexsero, Menactra, Menveo, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
Global Meningococcal Vaccines market was valued at US$xx million in 2021 and is projected to reach at a market value of US$xx million by 2031. Rise in prevalence of meningitis, increasing initiatives by government and regulatory authorities coupled strong funding support from non-profit organizations is expected to drive the global meningococcal vaccines market. Strategizing Meningococcal Vaccine as a part of their National Immunization Programs by various countries has overall boosted the demand for meningococcal vaccines market
COVID-19 Impact on Meningococcal Vaccines Market
It was identified that during the COVID-19 pandemic the immunization services were disrupted and delayed. The WHO (World Health Organization) warned of a decline in vaccinations during COVID-19 and requested the countries to intensify immunisation services which are a part of National Immunization Programs of these respective countries and also to conduct catch up immunization activities. WHO urged the National Health Authorities to review vaccine registers, keep a check on defaulter listings and new-born tracking to be completely updated on missed vaccination schedules. The catch up vaccination programs were considered based on local epidemiology outbreak which were preventable through vaccination such as measles, polio, meningococcus and yellow fever. Moreover, new findings from a multi-country survey conducted by GSK stated that 50 % of parents whose child had a scheduled meningococcal disease (meningitis) vaccination appointment, had the appointment delayed or cancelled during the COVID-19 pandemic. Overall, the meningococcal vaccine market was negatively affected during the COVID-19 pandemic.
What are the Market Drivers?
Increasing prevalence of meningitis
The growing occurrence of meningitis is one of the key factors likely to drive the market. As per the Centers for Disease Control and Prevention (CDC) statistics, about 1.2 million cases of bacterial meningitis are anticipated to occur worldwide every year.
Increasing initiatives by government and regulatory authorities
Public-Private Partnerships in several countries is driving in the growth of Meningococcal Vaccine market. For example, in the PATH-WHO meningitis project, Public Health Officials in India, Serum Institute of India, and some African Countries have joined hands. This initiative has been designed to offer affordable, long term and effective solutions to Meningococcal meningitis in several African belts. Such initiatives offer a robust opportunity for growth Meningococcal vaccines market.
Where are the Market Opportunities?
Developing National Immunization Programs (NIPs) organized by numerous governments with support from global organizations and private non-profit organizations has been driving the demand for effective vaccines for various diseases, including meningococcal meningitis. Addition of meningococcal vaccines to NIPs with an intention to ensure sustainable vaccine supply with affordability to public and private sectors has opened multiple avenues of opportunities for manufacturers.
Major market players of Meningococcal Vaccine market are Sanofi, Merck & Co., Inc., GlaxoSmithKline plc, Pfizer Inc., Serum Institute of India Pvt. Ltd., Zhi Fei Biological, Hualan Biological Engineering Inc, Incepta Pharmaceuticals Ltd., Walvax Biotechnology Co., Ltd., BIO-MED and JN International Medical Corporation. These players are investing significantly on R&D and licencing to sustain in market. For instance, In April 2020, The U.S. Food and Drug Administration (FDA) has approved a Biologics License Application for MenQuadfi Meningococcal (Groups A, C, Y, W) Conjugate Vaccine for the prevention of invasive meningococcal disease in persons 2 years of age and older.
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