Meningococcal Vaccine Market Driven By Increasing Prevalence Of Meningitis By 2027

The global meningococcal vaccine market size is expected to reach USD 5.9 billion by 2027, expanding at a CAGR of 9.5%, according to a new report by Grand View Research, Inc. Increasing prevalence of meningitis is one of the major factors attributed to the market growth. Furthermore, according to the European Centre for Disease Prevention and Control (ECDC), it was estimated that in 2017, 3,221 confirmed cases were observed in the EU member states, in which 58% of cases were found in the U.K., France, Spain, and Germany.

In addition, manufacturers are receiving Break Through Designation (BTD) for the development of improved vaccines as compared to available therapy. For instance, in February 2018, GlaxoSmithKline plc received BTD for Bexsero for extending its use in the age group below 11 years. Such initiatives are expected to improve meningococcal prevention, which in turn is anticipated to drive the market.

Initiatives undertaken by the government to combat the rising incidence of the disease is anticipated to boost the market growth. For instance, from April 2019, Nimenrix was made available for free as a part of the National Immunisation Program (NIP) for the age group 14 to 16 years. Nimenrix is a single dose quadrivalent meningococcal vaccine that targets serogroups A, C, W & Y.

In addition, rising awareness programs focused on prevention of the target disease is expected to fuel market growth. For instance, in April 2019, the National Day of Action against Meningitis B was launched by the Meningitis B Action Project on World Meningitis Day to improve awareness of meningitis regarding available vaccines such as MenACWY and MenB among healthcare professional, students, and parents.

Furthermore, the government provision of free vaccination to reduce the spread of the target disease is anticipated to boost the market growth. For instance, in November 2018, the government of New Zealand started a free vaccination program in Northland for infants and children.

Non-profit organizations entering into strategic initiatives such as partnering, alliances, and others to improve access to new vaccines for vulnerable children is anticipated to drive the market. For instance, Gavi is a vaccine alliance formed between UNICEF, World Health Organization, the Bill and Melinda Gates Foundation, and the World Bank to help boost economies of low-income countries and improve access to under-used vaccines for children suffering from meningitis.

Moreover, clinical trials conducted on teenagers to develop novel meningococcal vaccines are expected to drive the market. For instance, in March 2018, the National Health Service launched a Meningitis B vaccine trial for teenagers and recruited 24,000 volunteers of age group 16 to 18 years for this study. This clinical trial was funded and supported by the National Institute for Health Research (NIHR).

The availability of vaccines at lower prices in countries with an increasing prevalence of meningococcal diseases is anticipated to fuel the revenue of the manufacturers and drive the market. For instance, under the Meningitis Vaccine Project, MenAfriVac costs less than USD 0.5 per dose.

Full Research Report On Meningococcal Vaccine Market Visit Here: https://www.grandviewresearch.com/industry-analysis/meningococcal-vaccines-market

Meningococcal Vaccine Market Report Highlights

• In 2019, Bexsero was the largest-revenue holding brand in the market owing to its stronger demand in Europe and studies showing a decrease in meningitis cases
• The quadrivalent segment is expected to witness the fastest growth over the forecast period due to its ability to target four serogroups and the availability of vaccines such as Menactra, Menveo, and Nimenrix
• In the case of the age group segment, infants (0 to 2 years) are expected to witness a significant CAGR owing to the increasing prevalence of meningitis in the age group 9 months to 11 years
• Asia Pacific is projected to witness the fastest growth during the forecast period owing to the high unmet needs and rising healthcare expenditure
• North America dominated the market in 2019 due to the presence of key players and rising initiatives to raise awareness among healthcare professionals and patients

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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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