Meningococcal Disease Vaccine Market Analysis and Size
Meningococcal disease is an uncommon infection caused by the bacteria Neisseria meningitidis that affects the lining of the brain, spinal cord, and blood. The germs that cause meningococcal disease transmit by saliva or spit, usually through direct contact with sick persons and subsequent contact.
Meningococcal septicemia occurs when the meningococcal infection spreads to the bloodstream, causing bleeding into the skin and organs, fever and chills, vomiting and diarrhoea, and chilly hands and feet. Headache, stiff neck, heightened sensitivity to light, and feeling disoriented are some of the other symptoms. Protection against these infections is extremely crucial because they can swiftly turn lethal, causing major disabilities such as hearing loss or brain damage, or even death in just a few hours.
Data Bridge Market Research analyses that the meningococcal disease vaccine market was valued at USD 3.08 billion in 2021 and is expected to reach USD 6.60 billion by 2029, registering a CAGR of 10.0% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Meningococcal Disease Vaccine Market Dynamics
Drivers
· Increasing prevalence of meningitis
The rising prevalence of meningitis is estimated to enhance the meningococcal disease vaccine market's growth rate. Meningitis is an inflammation of the brain and spinal cord's inner lining caused by infectious (viral, bacterial, and occasionally fungal) or non-infectious sources. Meningitis is a deadly disease with a quick onset of symptoms. Meningitis can cause significant brain damage in about half of the afflicted population if left untreated. Mental retardation, epilepsy, and deafness are only a few of the significant side effects. According to the Meningitis Research Foundation, enteroviruses are responsible for approximately 80% to 90% of meningitis cases in 2017, with the remaining 10% being caused by herpes virus, mumps, measles, and human immunodeficiency virus.
· Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of meningococcal disease vaccine market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.
Furthermore, increasing public-private partnerships to support the development of vaccines at low cost and rising level of disposable income will expand the meningococcal disease vaccine market. Additionally, the increasing prevalence of the meningococcal disease among young children and adolescents across the globe and increasing number of government initiatives to spread awareness are estimated to enhance the market’s growth rate.
Opportunities
· Increase in the number of research and development activities
The meningococcal disease vaccine market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the meningococcal disease vaccine market growth.
COVID-19 Impact on Meningococcal Disease Vaccine Market
Since its emergence in December 2019, the COVID-19 virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. COVID-19, a new coronavirus, was identified as the causal agent in the pneumonia cases. This virus spread quickly over the world, killing a large number of people. COVID-19 was labelled a global pandemic by the World Health Organization (WHO) in March 2020, and rigorous measures to prevent the disease's spread were recommended. Since then, the pandemic has delayed the expansion of the healthcare sector and disrupted the supply chain.
Furthermore, governments in many nations had imposed nationwide lockdowns to halt the spread of COVID-19. Similarly, healthcare organizations in numerous nations throughout the world were having difficulty continuing their supply chain activities. The supply chain slowness hampered the meningococcal disease vaccine market. On the bright side, the meningococcal disease vaccine market will likely improve as respective government bodies have lifted the enforced lockdown restrictions. Various sectors are anticipated to rebound quickly post COVID-19 pandemic due to the wide number of applications they serve. As a result, the market is projected to stabilize in the future.
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Global Meningococcal Disease Vaccine Market Scope
The meningococcal disease vaccine market is segmented on the basis of vaccine serotype, age group, vaccine type, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Vaccine Serotype
· MenACWY
· MenB and Manic
· MenC
· MenA
· MenAC
· Others
Age Group
· Infants (0 to 2 years)
· Children and Adults (2 years and above)
Vaccine Type
· Polysaccharide
· Conjugate
· Combination
Route of Administration
· Parenteral
· Others
End-Users
· Hospitals
· Specialty Clinics
· Homecare
· Others
Distribution Channel
· Hospital Pharmacy
· Retail Pharmacy
· Online Pharmacy
· Others
Some of the major players operating in the meningococcal disease vaccine market are:
· AstraZeneca (U.K.)
· Johnson & Johnson Private Limited (U.S.)
· Mylan N.V. (U.S.)
· Teva Pharmaceutical Industries Ltd.(Israel)
· Pfizer Inc. (U.S.)
· GlaxoSmithKline plc (U.K.)
· Novartis AG (Switzerland)
· Sanofi (France)
· Merck & Co., Inc. (U.S.)
· F. Hoffmann-La Roche Ltd. (Switzerland)
· Serum Institute of India Pvt. Ltd. (India)
· Baxter (U.S.)
· Walvax Biotechnology Co., Ltd. (China)
· BIO-MED (India)
· Bio-Manguinhos (Brazil)
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