Meningococcal Vaccines Global Market Report 2024

The meningococcal vaccines market size has grown rapidly in recent years. It will grow from $3.57 billion in 2023 to $3.94 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth during the historical period can be attributed to factors such as disease incidence, trends in global travel, the state of healthcare infrastructure, preparedness for epidemics, and the extent of health insurance coverage available.

The meningococcal vaccines market size is expected to see strong growth in the next few years. It will grow to $5.69 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The expected growth in the forecast period is influenced by several factors: the emergence of new strains of diseases, the increasing trend of globalization, rising investments in healthcare, health initiatives promoting vaccination, and changes in the regulatory landscape. Key trends anticipated during this period encompass the development of personalized vaccines, the adoption of digital vaccination records, advancements in gene editing technologies for vaccine development, the utilization of multi-valent vaccines, and the exploration of subscription-based models for vaccine distribution and access.

The anticipated rise in healthcare expenditure is poised to drive the expansion of the meningococcal vaccine market in the future. Healthcare encompasses various facilities such as residential care institutions, nursing facilities, intermediate care facilities for individuals with mental illnesses, or intermediate care facilities for individuals with mental retardation. The increasing cost of new vaccine generations compared to their predecessors has become a focal point in debates regarding whether the benefits of these new vaccines justify their prices. Evaluating the comprehensive social and economic benefits of vaccination is becoming an increasingly vital area of study in the literature on the value of vaccination. For example, in May 2022, an article published by the American Medical Association, a US-based professional association and lobbying group of physicians and medical students, reported that healthcare spending in the United States had surged by 9.7% to $4.1 trillion, amounting to $12,530 per person. This growth rate is significantly higher than that of 2019, which was 4.3%. Consequently, the increase in healthcare spending is propelling the growth of the meningococcal vaccine market.

The rising incidence of meningococcal disease is expected to drive the growth of the meningococcal vaccine market in the future. Meningococcal disease is a severe bacterial infection caused by Neisseria meningitidis, which can lead to meningitis (inflammation of the membranes surrounding the brain and spinal cord) and septicemia (bloodstream infection). Meningococcal vaccines are highly effective in preventing meningococcal disease caused by Neisseria meningitidis. For example, in September 2023, SA Health, a government agency in South Australia focused on public health, reported 20 instances of invasive meningococcal disease, with 17 cases associated with serogroup B and three cases linked to serogroup W. This represents an increase from the 14 cases reported in 2022. Therefore, the rising incidence of meningococcal disease is a key driver of the growth of the meningococcal vaccine market.

Key players in the meningococcal vaccines market are actively engaged in the development of new vaccines targeting various serogroups, aiming to enhance their market profitability. Meningococcal vaccines serve as preventive measures, guarding individuals against infections caused by specific serogroups of the Neisseria meningitidis bacteria. Notably, in October 2023, Pfizer Inc., a renowned US-based pharmaceutical company, obtained FDA approval for its vaccine, PENBRAYA. Distinguished by its extensive serogroup coverage, PENBRAYA stands as the most comprehensive meningococcal vaccine sanctioned in the United States, providing protection against serogroups A, B, C, W, and Y. The FDA's endorsement of PENBRAYA is supported by robust Phase 2 and 3 trial data, affirming its non-inferior immunogenicity when compared to Trumenba + Menveo across all targeted serogroups, coupled with favorable safety profiles. Additionally, Pfizer's September 2022 announcement highlighted positive outcomes from a Phase 3 trial, showcasing PENBRAYA's safety, tolerability, and immunogenicity compared to existing licensed meningococcal vaccines.

Major companies in the meningococcal vaccines market are strategically engaging in partnerships to bolster their profitability within the market. These collaborations involve cooperative efforts among pharmaceutical firms, research institutions, government bodies, and non-profit organizations, aimed at collectively advancing the development, production, distribution, or enhancement of meningococcal vaccines. For instance, in July 2023, the Serum Institute of India, a biotechnology company based in India, partnered with PATH, a US-based non-profit health organization, to develop MenFive. The Serum Institute of India received WHO prequalification for MenFive, a multivalent meningococcal meningitis vaccine. MenFive stands as the first conjugate vaccine of its kind, targeting the primary causes of meningococcal meningitis prevalent in Africa. This vaccine follows the success of MenAfriVac, introduced in 2010, which successfully eradicated serogroup A meningococcal meningitis outbreaks in the African meningitis belt. MenFive is designed to prevent fatalities and disabilities caused by the disease. The Serum Institute of India's groundbreaking vaccines contribute significantly to the ongoing fight against meningococcal meningitis in Africa.

In August 2022, GlaxoSmithKline PLC, a pharmaceutical and biotechnology company headquartered in the UK, completed the acquisition of Affinivax Inc. for $3.3 billion. GSK's acquisition of Affinivax aligns with its strategic goal of building a diverse portfolio encompassing specialty medicines and vaccines. Affinivax, Inc., based in the US, specializes in next-generation vaccine technology and operates within the meningococcal vaccines sector.

Major companies operating in the meningococcal vaccines market report are Pfizer Inc., Johnson and Johnson Services Inc., Sinopharm Group Co. Ltd., Merck & Co. Inc., Novartis AG, Sanofi S.A, AstraZeneca PLC, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Baxter International Inc., CSL Limited, Seqirus Pty Ltd., Sinovac Biotech Ltd., Emergent BioSolutions Inc., Walvax Biotechnology Co. Ltd., Hualan Biological Engineering Inc., Beximco Pharmaceuticals Ltd., Bavarian Nordic A/S, JN-International Medical Corporation, Valneva SE, Serum Institute of India Pvt. Ltd., Incepta Pharmaceuticals Ltd., Biological E. Limited, LG Chem Life Sciences Company, Chongqing Zhifei Biological Products Co., Protein Sciences Corporation, Bharat Biotech Ltd., Bio-Med Limited, Bio-Manguinhos, Nuron Biotech Ltd.

North America was the largest region in the meningococcal vaccines market in 2023. Asia-Pacific is expected to be the fastest-growing region in the meningococcal vaccines market report during the forecast period. The regions covered in the meningococcal vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the meningococcal vaccines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Meningococcal vaccines come in several types, including meningococcal conjugate, polysaccharide, and subcapsular vaccines. Meningococcal conjugate vaccines combine a polysaccharide antigen with a carrier molecule. Different serotypes are available, such as Men ACWY, Men B or BC, and Men C, targeting infants, children, adolescents, young adults, and adults. These vaccines are distributed through pharmacies, community clinics, public health agencies, and other outlets, serving end-users such as hospitals, research institutions, and academic institutes.

The meningococcal vaccines market research report is one of a series of new reports that provides meningococcal vaccines market statistics, including the meningococcal vaccines industry's global market size, regional shares, competitors with a meningococcal vaccines market share, detailed meningococcal vaccines market segments, market trends and opportunities, and any further data you may need to thrive in the meningococcal vaccines industry. The meningococcal vaccines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The meningococcal vaccines market consists of sales of conjugate vaccines, combination vaccines, serogroup B vaccine products, and other types. Values in this market are ‘pharmaceuticals’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.