Meningococcal disease is caused by the bacterium Neisseria meningitides, which is also called as meningococcus. This disease has high mortality rate if untreated but preventable through vaccine
The global meningococcal disease treatment market is estimated to be valued at US$ 3,754.1 million in 2021 and is expected to exhibit a CAGR of 12.6% over the forecast period (2021-2028).
Figure 1. Global Meningococcal Disease Treatment Market Share (%) in Terms of Value, By Region, 2021
Increasing approval of drug is expected to drive the market growth over the forecast period
For instance, in 2018, GlaxoSmithKline Plc., a pharmaceutical company has received breakthrough therapy designation from the U.S. Food and Drug Administration for Bexsero for prevention of invasive meningococcal disease in children 2-10 years of age.
Furthermore, in 2016, Pfizer Inc., a pharmaceutical company, announced that European Medicines Agency (EMA) accepted the Marketing Authorization Application (MAA) for its TRUMENBA (Meningococcal Group B Vaccine) for review.
TRUMENBA is developed for the prevention of invasive meningococcal disease (IMD) caused by Neisseria meningitidis serogroup B (MnB) in individuals aged 10 years and older.
|Base Year:||2020||Market Size in 2021:||US$ 3,754.1 Mn|
|Historical Data for:||2017 to 2019||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||12.6%||2028 Value Projection:||US$ 8,645.2 Mn|
GlaxoSmithKline Plc., Novartis AG, Sanofi Pasteur Inc., Wockhardt Ltd., Kent Pharmaceuticals, Stravencon Limited, F. Hoffmann-La Roche Ltd., Athlone Laboratories, and Pfizer Inc.
|Restraints & Challenges:||
Figure 2. Global Meningococcal Disease Treatment Market Share (%), by Therapy Type, 2021
Significant number of people travelling to sub-Saharan Africa is expected to propel growth of the global meningococcal disease market
Significant number of people travelling to sub-Saharan Africa is expected to propel growth of the global meningococcal vaccines market over the forecast period. According to World Economic Forum’s, 2018 report, 37.4 million tourist arrivals were recorded in Sub-Saharan Africa in 2017.
Moreover, recommendation of various regulatory bodies for meningococcal vaccination is also expected to aid in growth of the market. For instance, the Centers for Disease Control and Prevention recommends meningococcal vaccines for preteens, teens, and other people.
Global Meningococcal Disease Treatment 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 has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 114 million infected individuals worldwide as of March 2nd 2021.
COVID-19 can affect the economy in three main ways: by directly affecting production and demand, 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 are facing problems with regards to transportation of drugs from one place to another.
Furthermore, players operating in the global meningococcal disease treatment market are facing major challenges on various fronts due to the COVID-19 pandemic. The major challenges include supply of raw materials required for manufacturing of product due to irregularities in transportation facility. Moreover, distributors are experiencing irregular demand for products from the retailers due to increasing number of patients suffering from COVID-19 and other life threatening disorders.
Global Meningococcal Disease Treatment Market Restraint
High cost of meningococcal vaccination and low coverage of the same are expected to hinder the growth of the global meningococcal vaccines market
Moreover, meningococcal vaccination is optional in several countries, which is also expected to limit the market growth.
Major players operating in the global meningococcal disease treatment market include GlaxoSmithKline Plc., Novartis AG, Sanofi Pasteur Inc., Wockhardt Ltd., Kent Pharmaceuticals, Stravencon Limited., F. Hoffmann-La Roche Ltd., Athlone Laboratories, and Pfizer Inc.
Meningococcal infection is a bacterial infection caused by Neisseria meningitidis, also known as meningococcus, a gram-negative bacterium. Meningococcal meningitis is a serious infection of the thin lining that surrounds the brain and spinal cord.
Furthermore, according to the World Health Organization Meningococcal meningitis is observed worldwide but the highest burden of the disease is in the meningitis belt of sub-Saharan Africa, stretching from Senegal in the west to Ethiopia in the east. Around 30,000 cases are still reported each year from that area.
The global meningococcal disease treatment market is expected to witness significant growth during the forecast period owing to the increasing prevalence of meningococcal disease. According to the centers for disease control and prevention, there were about 330 total cases of meningococcal disease reported in the U.S. in 2018.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.