Meningitis is a rare infection that affects the delicate membranes that surround the brain and spinal cord, known as meninges. The bacteria that cause meningitis can spread when people infected with meningitis cough or sneeze. Meningococcal meningitis is a type of bacterial meningitis caused by the bacterium Neisseria meningitidis. Bacterial meningitis can occur at any age. Infants, on the other hand, are at a larger risk of developing bacterial meningitis
Global meningitis vaccines market is estimated to be valued at US$ 4,070.1 million in 2022 and is expected to exhibit a CAGR of 6.4% during the forecast period (2022-2030).
Figure 1.Global Meningitis Vaccines Market Share (%) in Terms of Value, by Vaccine, 2022
Rise in the incidence of meningitis is expected to drive growth of the meningitis vaccines market
A rise in the incidence of meningitis is expected to increase the demand for meningitis vaccines, thus driving growth of the global meningitis vaccines market. For instance, according to data published by Elsevier Inc., the Netherlands-based academic publishing company, in April 2021, more than 2.5 million cases and 236,000 deaths due to meningitis were reported in 2019 globally .
Meningitis Vaccines Market Report Coverage
|Base Year:||2021||Market Size in 2022:||US$ 4,070.1 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||6.4%||2030 Value Projection:||US$ 6,669.3 Mn|
GlaxoSmithKline plc., Sanofi S.A., Merck & Co., Inc., Pfizer Inc., Novartis AG, Walvax Biotechnology Co., Ltd., Incepta Pharmaceuticals Ltd., Serum Institute of India Pvt. Ltd., Vacsera, Zhi Fei Biological, BIO MED, Chengdu Kanghua Biological Products, Bharat Biotech., LG Chem, Espromed Bio, Panacea Biotec Limited, Sinovac Biotech Co., Ltd., CanSinoBIO, and Eubiologics Co., Ltd.
|Restraints & Challenges:||
Figure 2.Global Meningitis Vaccines Market Share (%), by Age Group, 2022
Increasing initiatives by governments of countries and regulatory authorities to combat the rising prevalence of meningitis are expected to drive market growth during the forecast period.
Increasing initiatives by governments of countries and regulatory authorities to combat the increasing prevalence of meningitis are expected to propel growth of the global meningitis vaccines market over the forecast period. For instance, in September 2021, the World Health Organization (WHO) and its partners launched the first ever global strategy, Global Roadmap to Defeat Meningitis by 2030, to defeat meningitis. The goal of the strategy is to eliminate epidemics of bacterial meningitis and reduce deaths by 70% and halve the number of cases by 2030.
Global Meningitis Vaccines Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.
COVID-19 can affect the economy in three main ways: by directly affecting production and demand of products, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, UAE, Egypt, and others, faced problems with regard to the transportation of products from one place to another.
The COVID-19 pandemic had a negative economic impact on the global meningitis vaccines market, owing to decrease in vaccination rates for meningitis. For instance, according to an article published by Elsevier B.V., a Netherlands-based academic publishing company specializing in scientific, technical, and medical content, in April 2022, the number of meningococcal C (Men-C) conjugate vaccine doses administered from March 2019 to December 2020 was analyzed in Brazil. In total, 14,832,054 meningococcal C conjugate vaccine doses were administered throughout the investigated period; 66.30% of them from March 2019 to February 2020, and 33.70%, from March 2020 to December 2020. Thus, the COVID-19 pandemic had a negative impact on the number of meningitis vaccine doses administered in the North and South regions (26.98% and 41.47%, respectively) and in eleven states of Brazil
Thus, due to the decreased vaccination rates, the COVID-19 pandemic had a negative economic impact on the global meningitis vaccines market
Global Meningitis Vaccines Market: Restraint
The major factors that are expected to hinder growth of the global meningitis vaccines market include product recalls and high cost associated with meningitis vaccine. For instance, in 2018, The Johns Hopkins University researchers had calculated that requiring all college students to be vaccinated against meningitis B would not be cost-effective. Researchers found that the universal immunization against serogroup B of meningococcal disease, or meningitis B, for college-aged students would only be beneficial if the vaccine costs less than US$ 65. The average price for it is US$ 324.
Major players operating in the global meningitis vaccines market include GlaxoSmithKline plc., Sanofi S.A., Merck & Co., Inc., Pfizer Inc., Novartis AG, Walvax Biotechnology Co., Ltd., Incepta Pharmaceuticals Ltd., Serum Institute of India Pvt. Ltd., Vacsera, Zhi Fei Biological, BIO MED, Chengdu Kanghua Biological Products, Bharat Biotech., LG Chem, Espromed Bio, Panacea Biotec Limited, Sinovac Biotech Co., Ltd., CanSinoBIO, and Eubiologics Co., Ltd.
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