Meningococcal Vaccine Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2032

The global meningococcal vaccine market, valued at USD 3.10 billion in 2022, is projected to reach USD 5.18 billion by 2032, with a compound annual growth rate (CAGR) of 5.9% during the forecast period, according to industry analysis.

Key Factors Driving Market Growth

One of the main drivers of growth in the global meningococcal vaccine market is the increasing prevalence of meningitis, a serious bacterial infection that can lead to life-threatening complications. According to the National Center for Biotechnology Information, around 500,000 cases of meningococcal meningitis occur annually worldwide. The need for effective prevention measures is clear, prompting greater demand for vaccines that can protect against this disease.

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Technological Advancements in Vaccines

Technological advancements are also playing a critical role in boosting the market. Innovations such as multi-component vaccines, including hexavalent and heptavalent options, are providing wider coverage against various meningococcal serogroups. These vaccines, which can protect against multiple strains of bacteria with fewer doses, are helping streamline vaccination processes and reduce the burden of meningitis globally.

New technologies, such as Reverse Vaccinology and Genomic Sequencing, are improving the quality and development speed of vaccines. In addition, cell-based vaccine production and Outer Membrane Vesicle (OMV) vaccines are contributing to better protection and faster production times.

Rising Investments in Vaccine Development

Another key factor driving market growth is the rising investment in vaccine research and development. Governments and organizations are increasing funding to develop vaccines tailored for specific populations, such as infants, the elderly, and individuals with weakened immune systems. This focus on public health initiatives, especially in pandemic preparedness, is expected to lead to new and improved meningococcal vaccines.

In October 2023, Pfizer received U.S. Food and Drug Administration (FDA) approval for PENBRAYA, a combination of two existing vaccines that provides broad protection against five serogroups of meningococcal bacteria. This new product is expected to simplify vaccination schedules and increase vaccination rates, contributing significantly to global efforts to combat meningitis.

Market Challenges

Despite the strong growth drivers, the market faces challenges, such as stringent regulatory approval processes and safety concerns. Additionally, the high costs associated with vaccine development and production can limit access, particularly in low-income countries. Complex manufacturing processes make these vaccines expensive to produce, posing a potential restraint on market expansion.

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Market Segmentation Insights

By Vaccine Type: The meningococcal vaccine market is divided into conjugate vaccines, polysaccharide vaccines, and others. The conjugate vaccine segment held the largest market share in 2022 due to its enhanced safety profile and ability to protect against multiple serogroups. Polysaccharide vaccines, which are less expensive to produce, are expected to witness significant growth during the forecast period, especially in resource-limited settings.

By Serotype: Serotype B vaccines dominated the market in 2022, as this serogroup causes the majority of meningitis cases in regions with mature vaccination programs. The Serotype C segment is also expected to grow rapidly, driven by the emergence of new, aggressive strains, particularly in Africa and Asia.

By Age Group: Vaccination among children and adults made up the largest share of the market in 2022, as meningococcal vaccines are often part of national immunization programs. Multiple doses are typically required throughout childhood, ensuring sustained market demand.

By End-Use: Hospitals held the largest share of the market in 2022, due to their infrastructure and ability to handle the complex logistics involved in vaccine administration. Hospitals also play a key role in outbreak response, administering vaccines to those exposed to meningitis to prevent further spread.

Meningococcal Vaccine Top Companies and Competitive Landscape

The global the global meningococcal vaccine market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Meningococcal vaccine solutions.

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Some major players included in the global Meningococcal vaccine market report is:

Pfizer Inc.
Sanofi
Serum Institute of India Pvt. Ltd.
GSK plc.
Merck & Co., Inc.
Walvax Biotechnology Co., Ltd.
Incepta Pharmaceuticals Ltd
Johnson & Johnson Private Limited
AstraZeneca
Bavarian Nordic

Meningococcal Vaccine Latest Industry Updates

On 14 March 2023, GSK announced results from the phase III trial of its MenABCWY combination vaccine candidate. The trial aimed to prove the vaccine's safety, effectiveness, and ability to trigger immunity against serogroups A, B, C, W, and Y. The MenABCWY candidate matched the immune response of two established meningococcal vaccines, Bexsero and Menveo, for all five serogroups.

On 12 July 2023, Serum Institute of India announced approval of WHO prequalification for Multivalent meningococcal meningitis vaccine. The goal was to finally break the cycle of annual meningitis outbreaks that devastate many African communities. MenFive approved for anyone aged 1 to 85, offering broader protection than previously anticipated. This ensures vulnerable populations across all ages, from children to older adults, benefit from its shield against meningitis.

Meningococcal Vaccine Market Segmentation Analysis

For the purpose of this report, Emergen Research has segmented global the global meningococcal vaccine market on the basis of Vaccine Type, Age Group, Serotype, end-use, and region:

Vaccine Type Outlook (Revenue, USD Billion; 2019-2032)

Conjugate
Polysaccharide
Others

Age Group Outlook (Revenue, USD Billion; 2019-2032)

Infants
Children and Adults

Vaccine Serotype Outlook (Revenue, USD Billion; 2019-2032)

Serotype A
Serotype B
Serotype C
Serotype Y
Serotype W-135

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Hospital
Research and Academic institute
Others

Regional Outlook (Revenue, USD Billion; 2019-2032)

North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Russia
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
ASEAN Countries
Oceania
Rest of APAC
Latin America
Brazil
Mexico
Rest of LATAM
Middle East & Africa
GCC Countries
Israel
Turkey
South Africa
Rest of MEA

Meningococcal Vaccine Market Snapshots

Meningococcal Vaccine Market Size: https://www.emergenresearch.com/industry-report/meningococcal-vaccine-market/market-size
Meningococcal Vaccine Market Share: https://www.emergenresearch.com/industry-report/meningococcal-vaccine-market/market-share
Meningococcal Vaccine Market Trends: https://www.emergenresearch.com/industry-report/meningococcal-vaccine-market/market-trends
Meningococcal Vaccine Regional Market Demand: https://www.emergenresearch.com/industry-report/meningococcal-vaccine-market/regional-market-demand

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