Published: Jun, 2018
The global meningococcal vaccines market consists of a good number of established players who are on a quest to expand their market shares. The competition in the market has been stiffening over the past decade, partly due to the innovative business strategies of leading players, and majorly on account of the continual entry of new players. The companies operating in the pharmaceutical industry can easily expand their horizons by manufacturing meningococcal vaccines and this is the prime reason behind the emergence of new market players. The established market vendors have attained a deft level of expertise in the manufacture, sale, and marketing of products, thus, enhancing their growth prospects in the contemporary times. On the other hand, the smaller market vendors in the global meningococcal vaccines market are expected to form strategic alliances to counter the strong footholds of the leading players. The manufacture of novel drugs by leading players such as Sanofi, GSK, and Pfizer has resulted in an increased share of these players in the total market share. Besides all of the aforementioned factors, the decisive factor in the growth of the market vendors is the expertise with conducting core research in the field of meningococcal vaccines. Other key vendors in the global market for meningococcal vaccines are Biomed Pvt. Ltd., Serum Institute of India Ltd., Baxter International Inc., Nuron Biotech, Novartis International AG, and GlaxoSmithKline plc.
A report by Transparency Market Research (TMR) is an aplomb description of the global market for meningococcal vaccines. The report estimates that the global market would settle at an astral CAGR of 12.40% over the period between 2014 and 2022. Furthermore, the researchers of the report predicted that the global market for meningococcal vaccines would accumulate revenues worth USD 4.450.4 million by 2022.
Rising Incidence of Meningococcal Disease Propels Demand
The occurrence of meningococcal disease relies on several factors inclusive of age, geographical location, environmental fettle, and immunity. Such a wide range of factors responsible for the diseases also increases its rate of incidence, and this gives an impetus to the growth of the global market for meningococcal vaccines. The rising incidence of the disease is rebutted by the awareness campaigns to inform and educate people about the ills of meningococcal disease and ways to prevent and treat it. This has also created growth spaces for the pharmaceutical companies manufacturing vaccines and drugs for the treatment of meningococcal. The efforts of international bodies towards building a strong healthcare awareness framework have also aided the growth of the global market. Subsidization of vaccinations and mandates from global healthcare bodies have also benefitted the global market for meningococcal diseases.
Cost Wars could hamper Market Growth
The cost wars that have cropped with from the drug makers of similar vaccines is expected to hamper the growth of the global market. Furthermore, the penetration of the market into regions with strict regulatory framework for the manufacture of drugs is also a hindrance to market growth. There have been several attempts to build a robust base for research and development of antibodies in key European regions but to no avail. Nevertheless, the efforts of the leading vendors to capture maximum regional share is expected to enhance the growth prospects of the global market for meningococcal disease.
The review is based on TMR’s research report titled “Meningococcal Vaccines Market (Polysaccharide, Conjugate, Combination and Men B Vaccines, along with Pipeline Analysis) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022”.
The global meningococcal vaccines market is segmented as follow:
Meningococcal Vaccines Market, by Type
- Polysaccharide Vaccines, by Brand
- Quadri Meningo
- Bi Meningo
- Conjugate Vaccines, by Brand
- Combination Vaccines, by Brand
- Men B Vaccines, by Brand
Meningococcal Vaccines Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World
- Latin America
- Rest of RoW
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