Published: Mar, 2019
The notably low entry of barriers prevalent for new players renders the global meningococcal vaccines market increasingly attractive, notes Transparency Market Research (TMR). This characterizes an increasing level of competition in the meningococcal vaccines market, as the constant entry of players tends to challenge the shares held by prominent players. Incumbent players on the other hand, especially key companies, are engaged in developing novel technologies by investing sizeable sums on vaccinology research. Moreover, they are adopting innovative business strategies relating to marketing and sales of products, in order to consolidate their shares in the global meningococcal vaccines market. Companies with competencies in related industries such as the pharmaceutical are contributing meaningfully by investing in the market. Furthermore, small players producing meningococcal vaccines are entering into strategic alliances to gain a better foothold.
Companies with prominent shares in the global meningococcal vaccines market include Novartis International AG, Serum Institute of India Ltd., Pfizer Inc., Biomed Pvt. Ltd., and Baxter International Inc.
The global meningococcal vaccines market is projected to expand at a promising CAGR of 12.40% during 2014 – 2022, and reach a worth of US$4,450.4 million by the end of 2022.
Among the various types of meningococcal vaccines, the combination vaccines segment holds the leading share presently. In the coming years, it is expected to emerge rapidly as a prominent prevention modality, especially in disease prevention in infants and toddlers.
Regionally, North America is likely to hold dominance in the global meningococcal vaccines market. The growth in the regional market is fueled by rising public awareness about the disease prevention, especially through vaccination of teens and preteens.
Worldwide Substantial Morbidity and Mortality Meningococcal Diseases fuels Demand
The global demand for meningococcal vaccines is driven by substantial morbidity and mortality meningococcal diseases have worldwide. Despite the wide uptake of polysaccharide vaccines, meningococcal diseases still continue to be a global health threat. This is a key factor driving the meningococcal vaccines market. Rise in vaccination programs in several countries over past few years has been a notable trend bolstering the uptake. The demand for meningococcal vaccines has witnessed a large thrust on account of rise of travel-related meningococcal outbreaks in various regions across the globe. The rising incidence of invasive meningococcal disease over the past few decades is a key factor accentuating the meningococcal vaccines market.
The strides in the global meningococcal vaccines market is propelled increasingly by rapid technological advances in vaccinology across the globe. The growing role of ongoing developments and improvements of meningococcal vaccines in public health accomplishments in numerous countries is opening new avenues for market players.
Rising Numbers of Targeted Vaccination Programs to render Prospect Lucrative in Coming Years
Rapid advances in combination vaccines technology have increased their efficacy, open lucrative streams for companies in the meningococcal vaccines market. The use of these vaccines, along with Haemophilus influenzae type B, is rising at an attractive pace, thereby fueling the market’s growth. They have risen in popularity due to their higher immunogenicity in infants and children in recent years.
However, an uncertain price structure of meningococcal vaccines has led to a price war between drug makers. This is one of the key factors hampering the market’s prospects. Nevertheless, a growing number of companies in the meningococcal vaccines market are focusing on untapped markets of Asia Pacific. Revenue streams in the markets emerge from large unmet needs of the regional populations. The demand is bolstered by growing numbers of infants’ immunization programs in emerging markets. Furthermore, various governments and health protection agencies are taking active part in vaccination of preteens and teens. Rising numbers of targeted vaccination programs are notably boosting the meningococcal vaccines market.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Meningococcal Vaccines Market (Type - Polysaccharide Vaccines (Brand - Menomune, Mencevax, NmVac4, Quadri Meningo, and Bi Meningo), Conjugate Vaccines (Brand - Menactra, Menveo, NeisVac-C, Nimenrix, Meningitec, Menjugate, MenAfriVac, and NmVac4-DT), and Men B Vaccines (Brand - Bexsero and Trumenba)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014–2022”.
The global meningococcal vaccines market is segmented based on:
- Polysaccharide Vaccines (by Brand)
- Quadri Meningo
- Bi Meningo
- Conjugate Vaccines (by Brand)
- Combination Vaccines (by Brand)
- Men B Vaccines (by Brand)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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