Increasing adoption of meningitis vaccine on the back of rising incidence rates of meningitis in specific areas of the world to boost the global market growth
Research Nester recently published a report titled “Global Meningitis Vaccine Market Outlook: Industry Analysis & Opportunity Evaluation 2018-2027” which delivers a detailed overview of the global meningitis vaccine market in terms of market segmentation by vaccine, composition, end-users and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
In 2017, Serum Institute launched the 4 Vaccine. The company is planning to launch the pentavalent meningitis vaccine across the US & Europe markets. This product is anticipated to showcase a vibrant growth in the meningitis vaccine segment for the company.
The global meningitis vaccine market is significantly driven by the high awareness and relatively higher adoption rate of effective pharmaceuticals. With the increasing demand for meningitis vaccine over the years, the size of the global meningitis vaccine market held a market revenue of USD 12,783.1 million in 2018. Several key factors such as the ongoing robust research and development programs in the healthcare sector, to manufacture advanced and cost–effective meningitis vaccines, significantly drives the global market. It is estimated to expand at a CAGR of 8.9% over the forecast period, i.e., 2019-2027.
On the basis of geography, the global meningitis vaccine market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The market in North America held the highest market share (41.2%) in 2018, on the back of rising demand for efficient disease preventive vaccine across the region. Meningococcal disease is the most frequently occurring form of meningitis in the North American region, due to which there is an increasing demand for effective drugs that are capable of neutralizing the causative agent, while providing quick and efficient recovery to the patient.
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Several factors such as increasing funding for the research & development programs along with large investments from the government, private investors, and the market players also contributed to the development of the market. Moreover, research funding is being provided by various market players to improve their product portfolio by incorporating advances such as growing number and type of vaccine targets, coupled with novel, more effective formulations, adjuvants, and routes of delivery for vaccine. Such factors are estimated to drive the market growth.
The global meningitis vaccine market has been segmented by vaccines into meningococcal vaccine, pneumococcal vaccine, and Hib. Among these vaccines, the pneumococcal vaccine segment held the leading market share in 2018, as pneumococcal vaccines are on the essential medicines list of the World Health Organization (WHO), which is estimated to aid the pneumococcal vaccine market propagate, during the forecast period, across the globe. These vaccines provide disease prevention with 71-93% effectiveness. On the basis of composition, the market is segmented into polysaccharide vaccines, conjugate vaccines, and others. Among these, the conjugate vaccine segment held the major share on the back of rising immunization programs and higher effectiveness of conjugate vaccines.
The growth of the market may be impeded by a few limitations such as availability of meningococcal polysaccharide vaccine that may not meet the demand identified by the ICG and other standards to respond to outbreaks – particularly of serogroup C disease and the prevalence of the disease is high, the occurrence rate has been declining, around the globe, in the past decade, which is estimated to lower the adoption rate of these vaccines, all of which might hamper the growth of the market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global meningitis vaccine market which includes company profiling of Sanofi Pasteur, GSK, Pfizer, Merck, Serum Institute of India Pvt. Ltd., Hualan Biological Engineering Inc., and other prominent players. The profiling enfolds key information of the companies which encompasses the business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts detailed overview of the global meningitis vaccine market that will help industry consultants, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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This post was originally published on Aerospace Industry