Jul 1, 2020 3:00 PM ET
iCrowd Newswire – Jul 1, 2020
The Global Meningococcal Vaccine Market is estimated to grow at a CAGR of 9.5% during the forecast period 2019-2026. As per the detailed market study, the meningococcal vaccine industry is anticipated to reach $4,192.5 million by the end of the year 2026.
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Invasive meningococcal disease (IMD) is a type of bacterial infection which is caused by Neisseria meningitidis—includes spectrum of infections such as bacteremia pneumonia, bacteremia (meningococcemia), and meningitis—and a gram-negative coccus. Meningococcal disease has high fatality rate of ~50% in case of untreated and results in various complications post recovery. The disease is rare in nature and results in infection in the brain lining and spinal cord lining with a potential to spread in the form of epidemics. The disease transmission is reported through direct contact with droplets of throat secretions from infected person or even through asymptomatic carriers.
The meningococcal vaccine market growth is driven through various growth factors such as increasing adoption of national immunization programs across several countries coupled with increase in demand for meningococcal vaccines. Whereas, recall of several products due to contamination and stringent government regulations considering approval for vaccines usage hinder the growth of the global marketplace over the forecast period. On contrary, growth in healthcare spending across the globe and high population base in the developing regions offer lucrative growth opportunities for the market players operating in the global meningococcal vaccine market.
Segmentation Overview of the Global Meningococcal Vaccine Market
The global meningococcal vaccine market is segmented on the basis of various market segments to study the market in detail. These market segments are further categorized into sub-segments considering various market determinants and geographical dynamics.
The Vaccine Serotype of the Global Meningococcal Vaccine Market is Sub-Segmented into:
- MenB & MenBC
The Vaccine Type of the Global Meningococcal Vaccine Market is Sub-Segmented into:
The End User Segment of the Global Meningococcal Vaccine Market is Sub-Segmented into:
Competitive Landscape of the Global Meningococcal Vaccine Market
Walvax Biotechnology Co., Ltd., Serum Institute of India Pvt. Ltd., Sanofi S.A., Pfizer Inc., Incepta Pharmaceuticals Ltd., Hualan Biological Engineering Inc., GlaxoSmithKline Plc, Chongqing Zhifei Biological Products Co., Ltd., Bio-Med Pvt. Ltd. and Bio-Manguinhos among others are some key market players included in the research study of the global meningococcal vaccine market. These market players are focusing to acquire majority of the market share through various strategical developments. Product launches, business expansion, technological advancements, partnerships, joint venture, collaborations and mergers and acquisitions are some major strategical developments considered by the market players in the global marketplace.
Geographical Overview of the Global Meningococcal Vaccine Market
The North America meningococcal vaccine market dominated the global marketplace in the year 2018 with majority of the market share that accounted for nearly of the total market share, and the region is anticipated to maintain the dominance over the forecast period. On the other hand, the Asia-Pacific meningococcal vaccine market is predicted to witness the fastest growth with a CAGR of 14.7% during the forecast period of 2019-2026.
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Keywords: Meningococcal Vaccine Market