Meningococcal Vaccines Market is Projected to Expand Significantly at the CAGR of 12.40% between 2014 and 2022
Meningococcal disease is caused by Neisseria meningitides, a gram-negative bacterium, and the majority of infections are caused by six serogroups out of many. The disease is mainly prevalent in infants, adolescents, and people suffering with risk of asplenia. The growing morbidity and mortality of meningococcal disease among vast populations has made it a global concern.
The incidence of invasive meningococcal disease varies with age, time, and geographic locations and can have endemic as well as epidemic affects. Usually triggered by environmental or immunogenic factors, the disease is best prevented by vaccinations. In recent years, the effective implementation of several targeted vaccination programs through massive campaigns in various countries, especially sub-Saharan Africa, has significantly reduced the burden of meningococcal disease. Technological advances in vaccinology has further improved their efficacy leading to key public health accomplishments.
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Expanding at a CAGR of 12.40% during the period 2014–2022, the market for meningococcal vaccines is expected to reach a value of USD 4,450.4 million by 2022.
Combination Meningococcal Vaccines Gaining Prominence for Various Indications
Based on type, the meningococcal vaccines is majorly segmented into polysaccharide, conjugate, Men B and combination vaccines. Among these, polysacvcharide vaccines were the first vaccines to treat meningococcal disease. However, their use is declining due to their limitations to produce adequate immunologic memory response, possess meagre immunogenicity in infants, and are hypo-responsive when the doses are repeated.
The combination vaccines segment is fast emerging as a prominent prevention modality as they overcome these drawbacks. Used in combination with other organisms such as Haemophilus influenzae type B, the use of combination vaccines is gaining traction across various regions. These vaccines are found to be especially helpful for the prevention of the disease in infants and toddlers.
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Based on brand, polysaccharide vaccines are sub-segmented into NmVac4, Mencevax, Menomune, Bi Meningo, and Quadri Meningo. By brand, combination vaccines are further segmented into MenHibrix and Menitorix. Moreover, on the basis of brand, conjugate vaccines are sub-segmented into Menactra, Menveo, NeisVac-C, Nimenrix, Meningitec, MenAfriVac, NmVac4-DT, and Menjugate.
Large Untapped Market in Asia Pacific to Offer Lucrative Growth Avenues
Geographically, the meningococcal vaccines market is segmented into Asia Pacific, North America, Europe, and Rest of the World (RoW). Of these, currently North America dominates the market and held the major revenue share in 2013. The substantial growth of this regional market is driven by a number of public awareness campaigns and infants’ immunization programs by governments. In addition, increased initiatives by several health protection agencies to recommend the vaccination of teens and preteens have boosted the demand for these vaccines in numerous countries.
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Meanwhile, the Asia Pacific market is anticipated to grow at a significant pace. The impressive growth of the Asia Pacific market for meningococcal vaccines is primarily driven by rapid rise in populations prone to the disease incidence and the growing awareness of prevention methods.
Key market players operating in the meningococcal vaccines market include Biomed Pvt. Ltd., Baxter International Inc., Serum Institute of India Ltd., Pfizer Inc., Nuron Biotech, GlaxoSmithKline plc., Sanofi S.A., and Novartis International AG.
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