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Meningococcal Vaccines Market report also sheds light on the supply chains and the changes in the trends of upstream raw materials and downstream distributors.

NEW YORK, NY, UNITED STATES, July 10, 2023/EINPresswire.com/ -- The global market for Meningococcal Vaccines had a value of USD 2.1 billion in 2022. It is projected to reach USD 3.8 billion by 2032, with a forecasted revenue compound annual growth rate (CAGR) of 6.8% during this period. The growth in market revenue is primarily attributed to the increasing prevalence of meningococcal illness and government initiatives to control its spread. Meningococcal illness, a potentially life-threatening bacterial infection, primarily affects newborns, young children, and adolescents, causing conditions such as meningitis and sepsis.

The demand for meningococcal vaccinations is rising, particularly among parents, driven by growing awareness about immunization. The expansion of the market is further supported by the increased utilization of meningococcal vaccines in routine and mass vaccination programs. For example, the World Health Organization (WHO) introduced a global plan in 2019 to eliminate meningitis by 2030, which is expected to drive the demand for meningococcal vaccines.

Furthermore, governments are implementing measures to control the spread of meningococcal illness due to its increased prevalence in developing countries. In 2018, the Indian government initiated a program to immunize 35 million children and teenagers against meningococcal disease. Similarly, the Nigerian government launched a meningococcal vaccination campaign in 2019, targeting approximately 21 million individuals.

The development of novel meningococcal vaccines with improved effectiveness and safety profiles is another factor contributing to the market expansion. Manufacturers are working on combination vaccines that provide protection against multiple strains of meningococcal disease, thereby stimulating the growth of market revenue.

Additionally, the market is expanding due to the adoption of immunization as a preventive measure against meningococcal disease by travelers and military personnel. Meningococcal illness is prevalent among military personnel living in close quarters or traveling to regions with high disease prevalence.

However, the cost of meningococcal vaccinations poses a significant barrier to market expansion, particularly in low- and middle-income countries. Additionally, limited access to vaccines in certain regions hinders the growth of the market.

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Major Companies and Competitive Landscape:

• GSK
• Pfizer
• Sanofi
• Nuron Biotech
• Novartis
• Baxter International
• CSL Limited
• Serum Institute of India
• Bio-Manguinhos/Fiocruz

Factors Driving the Meningococcal Vaccines Market

The Meningococcal Vaccines market is being driven by several factors:

1. Increasing Prevalence of Meningococcal Illness: The rising incidence of meningococcal illness is a major driver of the market. This potentially fatal bacterial infection primarily affects newborns, young children, and adolescents, leading to conditions like meningitis and sepsis.
2. Government Efforts to Control Spread: Governments worldwide are taking proactive measures to prevent the spread of meningococcal illness. Initiatives such as routine and mass vaccination programs, as well as global plans by organizations like the World Health Organization (WHO) to eradicate meningitis by 2030, are increasing the demand for meningococcal vaccines.
3. Growing Immunization Awareness: Increased awareness among parents about the importance of immunization has resulted in a higher demand for meningococcal vaccinations. Parents are becoming more proactive in protecting their children against meningococcal disease.
4. Development of Novel Vaccines: Market expansion is fueled by the development of new meningococcal vaccines with enhanced efficacy and safety profiles. Manufacturers are focusing on creating combination vaccines that offer protection against multiple strains of meningococcal disease.
5. Adoption by Travelers and Military Personnel: Visitors to regions with high disease prevalence and military personnel residing in close quarters are adopting meningococcal vaccinations as a preventive measure. This trend is contributing to the expansion of the market.

Despite these driving factors, there are some challenges that could hinder market growth, including the high cost of vaccines, especially in low- and middle-income countries, and limited access to vaccines in certain regions.

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Segments covered in the report:

Segments covered by Application Outlook, End-use Industry, Regional Outlook

By Vaccine Type Outlook

• Quadrivalent
• Bivalent
• Others

By End-user Outlook

• Pediatric
• Adolescent
• Adults

Regional Outlook

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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