The meningococcal vaccine business benefits from advancements in vaccine research and strategic partnerships to address public health issues and guarantee vaccination coverage, as per the new market research report by FactMR.
The global meningococcal vaccine market is expected to develop at a CAGR of 10.3% from 2024 to 2034. The market is estimated to be valued at US$ 4,049.1 million in 2024. Sales of meningococcal vaccines are expected to reach US$ 10,788.0 million by 2034. A strong product pipeline is responsible for the market’s progress, which is anticipated to continue as more creative and approachable solutions are created and made public.
The demand for meningococcal vaccination is increasing to prevent meningococcemia, septicemia, and meningitis caused by N. meningitides, as they are highly contagious. The market for meningococcal vaccination is extensive and complex, with around thirty licensed vaccines targeting combinations of six serogroups and regional variations.
The market is characterized by significant usage beyond the prescribed vaccination schedule, subnational use, immunization of specific risk groups, use in the commercial sector, and recommended but unreimbursed immunization. The only vaccinations for the invasive meningococcal disease are meningococcal polysaccharide vaccines (MPSV) and meningococcal polysaccharide-protein conjugated vaccines (MCV), with MCV being more advantageous.
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Due to the high chances of pandemic outbreaks, governments and manufacturers are pouring huge investments in meningococcal vaccine research and development. The meningococcal vaccine market participants make money by taking advantage of vaccine research and production developments, satisfying the growing global demand, and promoting tactical alliances to tackle public health issues and guarantee vaccination coverage.
“The use of meningococcal vaccination increased due to greater public awareness of meningococcal meningitis, an uncommon illness with a high death rate. For market participants, the rising number of meningococcal vaccination clinical projects offers substantial market growth prospects. Businesses are evaluating the possibility of using current vaccinations for older indications, which is likely to diversify their market share. An increase in marketing approvals is propelling the global market forward,” says a Fact.MR analyst.
Key Takeaways from the Market Study:
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Rising Research and Development Initiatives by Market Players
Manufacturers of meningococcal vaccines are diversifying their product offerings to incorporate a broader range of electronic clinical outcome evaluations to accommodate a wide range of patient preferences and healthcare demands. In order to provide long-lasting, effective, and enticing digital medical solutions, they are also spending on research and development activities.
Key players are fortifying their local and international distribution networks to reach a broader consumer base. They are forming alliances with tech platforms and working with medical chains to guarantee that their products are easily accessible at physical locations. They are also forming partnerships with pharmacy service providers to meet the increasing need for affordable and long-lasting academic research services in the healthcare sector.
Key Companies Profiled:
Incepta Pharmaceuticals Limited; Novartis International; GlaxoSmithKline plc; Merck; CSL; Baxter International; JN International Medical Corporation; Serum Institute of India; Biomed Pvt. Ltd; China National Biotec Group; Hualan Biological Engineering Inc.; Walvax Biotechnology Co., Ltd.; Zhifei; Pfizer Inc.; GlaxoSmithKline plc.; Sanofi SA; Nuron Biotech
Industry News:
In December 2023, Pfizer announced the FDA approval of Penbraya, the first pentavalent vaccine for meningococcal disease in individuals aged 10-25, providing enhanced protection against serious and life-threatening infections in adolescents and young adults.
In July 2023, the Serum Institute of India Private Limited developed MenFive, the first conjugate vaccine pre-qualified by the World Health Organization to protect against five major causes of meningococcal meningitis in Africa.
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A meningococcal vaccine is designed to protect against infections caused by Neisseria meningitidis, which can lead to serious illnesses like meningitis and meningococcemia.
A vaccine pipeline refers to the stages of development that a vaccine undergoes from initial research and development through clinical trials to eventual approval and market release.
Polysaccharide vaccines are a type of vaccine that uses polysaccharides from the outer capsule of bacteria to stimulate an immune response against specific pathogens.
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