Meningococcal Vaccine market COVID-19 Impact, Trends & Business Statistics By 20
Posted by Mrudula Karmarkar on January 17th, 2022
The global meningococcal vaccine market size is expected to reach USD 5.9 billion by 2027, expanding at a CAGR of 9.5%, according to a new report by Grand View Research, Inc. Increasing prevalence of meningitis is one of the major factors attributed to the market growth. Furthermore, according to the European Centre for Disease Prevention and Control (ECDC), it was estimated that in 2017, 3,221 confirmed cases were observed in the EU member states, in which 58% of cases were found in the U.K., France, Spain, and Germany.
Non-profit organizations entering into strategic initiatives such as partnering, alliances, and others to improve access to new vaccines for vulnerable children is anticipated to drive the market. For instance, Gavi is a vaccine alliance formed between UNICEF, World Health Organization, the Bill and Melinda Gates Foundation, and the World Bank to help boost economies of low-income countries and improve access to under-used vaccines for children suffering from meningitis. Moreover, clinical trials conducted on teenagers to develop novel meningococcal vaccines are expected to drive the market. For instance, in March 2018, the National Health Service launched a Meningitis B vaccine trial for teenagers and recruited 24,000 volunteers of age group 16 to 18 years for this study. This clinical trial was funded and supported by the National Institute for Health Research (NIHR).
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The availability of vaccines at lower prices in countries with an increasing prevalence of meningococcal diseases is anticipated to fuel the revenue of the manufacturers and drive the market. For instance, under the Meningitis Vaccine Project, MenAfriVac costs less than USD 0.5 per dose.
Meningococcal Vaccine Market Report Highlights
The presence of a strong pipeline of meningococcal vaccines is expected to maintain a significant market share of the key players. For instance, Pfizer has developed a new molecular entity named PF-06886992 for Serogroups ABCWY Meningococcal Infections which is currently in Phase II clinical trials. Some of the prominent players in the meningococcal vaccine market include:
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About the AuthorMrudula Karmarkar
Joined: March 30th, 2020
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