Meningococcal Vaccine Market

Meningococcal Vaccine Market Study by Polysaccharide Vaccines (MPSV4), Conjugate Vaccines (MCV4), and Serogroup B Vaccines (MenB-FHpb/MenB-4C) from 2024 to 2034

Analysis of Meningococcal Vaccine Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Meningococcal Vaccine Market Outlook (2024 to 2034)

The global meningococcal vaccine market is expected to develop at a CAGR of 10.3% from 2024 to 2034. The market is estimated to be valued at US$ 4,049.1 million in 2024. Sales of meningococcal vaccines are expected to reach US$ 10,788.0 million by 2034.

The market is fueled by the prevalence of meningococcal illnesses, particularly meningococcal meningitis, which are extremely contagious among people or groups. The growing cases of these diseases are driving the need for meningococcal vaccination. The rising emphasis on preventive healthcare is also stimulating market demand.

Key Market Growth Drivers

  • The demand for meningococcal vaccination is widespread and complicated, with 29 approved vaccines targeting combinations of the six serogroups (A, B, C, W, X, and Y) and geographical differences in serogroup distribution.
  • Significant usage outside normal vaccination, such as subnational use, immunization of specific risk groups such as military personnel or tourists, use in the private sector, or recommended but unreimbursed immunization, drives the market for meningococcal vaccines.
  • The market is progressing as meningococcal polysaccharide vaccines (MPSV) and meningococcal polysaccharide-protein conjugated vaccines (MCV) are the only available vaccines for invasive meningococcal illnesses.
  • Government investments in meningococcal vaccinations are driven by meningococcal outbreaks, increasing the demand for vaccines. The illness, particularly meningococcal meningitis, is a public health concern due to high fatality rates and long-term neurological abnormalities in babies and children.

The global market for meningococcal vaccines is anticipated to grow over the forecast period due to a strong product pipeline. The sector is expected to expand progressively over the decade as more innovative and effective solutions are being developed and made publicly accessible.

Report Attributes Details
Estimated Market Value (2024E) US$ 4,049.1 million
Forecasted Market Value (2034F) US$ 10,788.0 million
Global Market Growth Rate (2024 to 2034) 10.3% CAGR
Meningococcal Conjugate Vaccine (MCV4) Segment Growth Rate (2024 to 2034) 10.4%
Adolescents and Young Adults Segment Growth Rate (2024 to 2034) 9.8%
North America Market Share (2024) 55.3%
East Asia Market Share (2024) 7.2%
Key Companies Profiled
  • Incepta Pharmaceuticals Limited
  • Novartis International
  • GlaxoSmithKline plc
  • Merck
  • CSL
  • Baxter International
  • JN International Medical Corporation
  • Serum Institute of India
  • Biomed Pvt. Ltd
  • China National Biotec Group
  • Hualan Biological Engineering Inc.
  • Walvax Biotechnology Co., Ltd.
  • Zhifei
  • Pfizer Inc.
  • GlaxoSmithKline plc.
  • Sanofi SA
  • Nuron Biotech

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Which Facets are Driving the Global Surge in Meningococcal Vaccine Demand?

“Rising Prevalence of Meningitis”

The rising cases of cerebrospinal meningitis, often known as bacterial meningitis, can cause death or lifelong disability. This is boosting the market’s growth. Long-term consequences of bacterial meningitis include learning difficulties, brain damage, hearing loss, memory loss, and even septicemia.

Some factors are anticipated to drive the prospects for market expansion, including the increasing incidence of meningitis in children, the growing need for a permanent treatment for meningitis, and the collaboration between the public and private sectors to support vaccination programs.

Organizations such as the Commonwealth and BRICS are developing and producing meningococcal vaccines. This is an excellent opportunity for giant corporations to get involved in vaccine research and development.

“Growing Focus on Research and Development Driving Market Growth”

The growth in the meningococcal vaccine market is expected to accelerate globally with the presence of international pharmaceutical companies, healthcare facilities, and non-profit organizations that support research projects, train healthcare professionals, and provide information & assistance to patients.

The commercialization of the vaccines is predicted to fuel the expansion of the meningitis vaccine market, creating lucrative opportunities for several industry participants.

These pharmaceutical companies support ongoing research and innovative methods of illness prevention. Therefore, these factors are expected to drive the rise of the meningococcal vaccine market during the forthcoming decade.

What are the Challenges Encountered by Meningococcal Vaccine Manufacturers?

“Limited Vaccine Supply Restricts the Meningococcal Vaccine Market Growth”

The limited global availability of polysaccharide vaccines and the high cost of conjugate vaccines hinder access to multivalent and conjugate vaccinations for low-income countries (LICs) and middle-income countries (MICs).

This lack of resources makes meningitis vaccinations less accessible to disadvantaged communities and makes it more difficult to distribute them equitably.

The financial limitations of these countries, in addition to their restricted accessibility, act as a major barrier to the expansion of the meningitis vaccination industry globally.

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Country-wise Insights

The meningitis vaccine market in North America is projected to expand at an 11.1% CAGR through 2034. In 2024, the United States is predicted to dominate the North American meningococcal vaccine market with a 92.5% market share.

Meanwhile, East Asia's meningococcal vaccine industry is projected to grow at a CAGR of 9.8% through 2034. In 2024, meningitis vaccines are estimated to account for 59.1% of China's industry.

Why is the United States Dominating the Global Meningococcal Vaccine Market?

“Rigid Healthcare Infrastructure in the United States Driving Market Demand”

Attribute Details
Market Value (2024) US$ 2,071.3 million
CAGR (2024 to 2034) 11.2%

The demand for meningococcal vaccination in the United States is expected to increase and reach a predicted value of US$ 2,071.3 million in 2024. In the North American meningitis vaccine market, the United States is expected to command a 92.5% share in 2024. The market is projected to grow at an 11.2% CAGR from 2024 to 2034.

Over the projection period, the meningococcal vaccine market is anticipated to grow due to the expansion of the United States’ healthcare sector and the growing number of vaccination and innovative medicine approvals from the FDA. The sophisticated healthcare system in the United States and the emphasis on vaccinations mean that timely delivery will further support the market's growth. The market for meningococcal vaccines in the United States is thus expected to grow over the projected period.

Which Aspect Positions China as a Prospering Meningococcal Vaccine Industry?

“Growing Government Initiatives Propelling the Chinese Meningococcal Vaccination Sector”

Attribute Details
Market Value (2024) US$ 173 million
CAGR (2024 to 2034) 10.0%

The demand for meningococcal vaccines is expected to increase considerably in China, with an estimated market value of US$ 173 million in 2024. Moreover, the projected CAGR during the forecast period is 10.0%, which is quite promising. This anticipated growth is expected to result in a market value of US$ 451 million by 2034.

Sales of meningococcal vaccinations are rising in China due to increased government efforts to curb the spread of diseases and an increase in the number of children under 18 years of age. Non-profit organizations in China also disseminate information to the public and increase awareness among medical professionals. Furthermore, more people are expected to receive the meningococcal vaccines.

The rise in significant government support, recommendations, and substantial funding for research and development is fueling growth in the market. More awareness campaigns and a sophisticated healthcare system in China are anticipated to support market expansion. Attendees of the meningococcal vaccine market also participate in a campaign to increase vaccination rates and spread awareness of the disease.

Category-wise Insights

The meningococcal conjugate vaccine (MCV4) segment is expected to hold a 41.6% market share by product type in 2024. Simultaneously, the serogroup B meningococcal vaccine (MenB-FHpb/MenB-4C) segment is expected to secure 35.3% of the market, significantly enhancing the industry's resource diversity and stability.

Based on age, adolescents and young adults are expected to have a substantial 28.4% share in the meningococcal vaccination market in 2024. The market share of children aged from 2 to 12 years is anticipated to hold 25.5% of the market in 2024.

Why is the Demand for Meningococcal Conjugate Vaccines (MCV4) Amplifying?

“Meningococcal Conjugate Vaccine Promotes Herd Immunity”

Attribute Details
Market Share in 2024 41.6%

In 2024, meningococcal conjugate vaccines are expected to hold a 41.6% market share. The MCV4 shots category is anticipated to increase at a CAGR of 10.4% over the following decade. The meningococcal conjugate vaccine (MCV4) vaccination demand is expected to be valued at US$ 1,684.2 million in 2024.

To enhance the immune system's response to the weak antigen, a meningococcal conjugate vaccination mixes a weak antigen with a powerful antigen as a carrier. Due to its main benefits, including the capacity to create herd immunity and provide long-lasting protection, the MCV4 sector of the meningococcal vaccine market is expanding.

The meningococcal conjugate vaccine (MCV4) segment is predicted to develop rapidly throughout the projection period because of major benefits such as long-lasting protection and the capacity to promote herd immunity.

Additionally, several major players are developing different meningococcal conjugate vaccination solutions, which present opportunities for the meningitis vaccine market to expand.

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Competitive Landscape

The key players in the meningococcal vaccine market include Incepta Pharmaceuticals Limited, Novartis International, GlaxoSmithKline plc, Merck, CSL, Baxter International, JN International Medical Corporation, Serum Institute of India, Biomed Pvt. Ltd, China National Biotec Group, Hualan Biological Engineering Inc., Walvax Biotechnology Co., Ltd., Zhifei, Pfizer Inc., GlaxoSmithKline plc., Sanofi SA, and Nuron Biotech.

The global meningococcal vaccination industry is growing quickly and is a very competitive market where many companies are vying for market share and a solid foundation. Several elements, including price tactics, marketing campaigns, research and development, and innovative product creation, drive market competition.

Due to the considerable fragmentation of the meningitis vaccine market and the competition among the companies for market share, there is a greater emphasis on strategic decision-making and competitive pressures. Players are aggressively spending on research and development to create new, more potent vaccines to stay ahead of the competition.

To increase operational effectiveness and expand market reach, partnerships, collaborations, and other strategic alliances are also being developed. Companies also use product releases and other marketing campaigns to enhance meningitis vaccine sales and obtain a competitive advantage.

Recent Developments

  • In December 2023, Pfizer announced the FDA approval of Penbraya, the first pentavalent vaccine for meningococcal disease in individuals aged 10-25, providing enhanced protection against serious and life-threatening infections in adolescents and young adults.
  • In July 2023, the Serum Institute of India Private Limited developed MenFive, the first conjugate vaccine pre-qualified by the World Health Organization to protect against five major causes of meningococcal meningitis in Africa.

Segmentation of the Meningococcal Vaccine Market

  • By Product type :

    • Meningococcal Polysaccharide Vaccine (MPSV4)
    • Meningococcal Conjugate Vaccine (MCV4)
    • Serogroup B Meningococcal Vaccine (MenB-FHpb/MenB-4C)
  • By Age Group :

    • Infants (0-24 months)
    • Children (2-12 years)
    • Adolescents and young adults
    • Adults
  • By Distribution Channels :

    • Institutional Sales
    • Retail Sales
  • By Region :

    • North America
    • Europe
    • East Asia
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

- FAQs -

What was the Value of the Meningococcal Vaccine Market in 2019?

The global meningococcal vaccine market was worth US$ 2,433.8 million in 2019.

What is the Sales Outlook for Meningococcal Vaccines in 2024?

The sales outlook for meningococcal vaccines is likely to be valued at US$ 4,049.1 million in 2024.

What is the Demand Forecast for Meningococcal Vaccines by 2034?

The demand for meningococcal vaccines is projected to reach a market value of US$ 10,788.0 million by the end of 2034.

What is the Adoption Projection for Meningococcal Vaccines?

The adoption of meningococcal vaccines is projected to rise at a CAGR of 10.3% through 2034.

At What Rate is the North American Market Predicted to Grow?

The North American market for meningococcal vaccines is forecasted to expand at a CAGR of 11.1% through 2034.

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