Global Meningitis Vaccines Market, by Vaccine (Pneumococcal Conjugate Vaccine, Pneumococcal Polysaccharide Vaccine, Meningococcal Vaccine, and Others), by Age Group (Infants and Adults), by Distribution Channel (Government and Private), and by Country (Egypt, Nigeria, Morocco, Indonesia, Bangladesh, Malaysia, United Arab Emirates, Saudi Arabia, Pakistan, Turkey, Kazakhstan, Jordan, Qatar, Sudan, Lebanon, Uganda, Benin, Cameroon, Gabon, Cote d’Ivoire, Vietnam, Singapore, Mexico, Argentina, Thailand, Philippines, Nepal, Myanmar, and Rest of the World) 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), as highlighted in a new report published by Coherent Market Insights.
Increasing vaccination campaigns for meningitis is expected to propel market growth over the forecast period. For instance, in November 2019, the government of Nigeria had launched a large-scale campaign to vaccinate children in 19 northern states. The campaign is part of the effort to boost the immunity of children against measles and meningitis in the country. The government through the National Primary Health Care Development Agency (NPHCDA) and the World Health Organization (WHO) with support from Gavi, the vaccine alliance, initiated the campaign on November 16, 2019 to reach more than 28 million children with life-saving vaccine.
Global Meningitis Vaccines Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic
The COVID-19 pandemic had a negative economic impact on the global meningococcal vaccines market, owing to the decrease in vaccination rates for meningitis. For instance, according to an article published by ScienceDirect, the world's leading source for scientific, technical, and medical research, in June 2022, the World Health Organization and its partners started monitoring COVID-19-related disruptions to mass vaccination campaigns against measles, cholera, meningitis A, polio, typhoid, tetanus-diphtheria, and yellow fever in May 2020. As per the findings of the study, 105 of 183 (57%) campaigns were postponed or cancelled in 57 countries because of the COVID-19, with an estimated 796 million postponed or missed vaccine doses in May 2020
Browse 98 Market Data Tables and 45 Figures spread through 359 Pages and in-depth TOC on “Global Meningitis Vaccines Market”- Forecast to 2030, Global Meningitis Vaccines Market, by Vaccine (Pneumococcal Conjugate Vaccine, Pneumococcal Polysaccharide Vaccine, Meningococcal Vaccine, and Others), by Age Group (Infants and Adults), by Distribution Channel (Government and Private), and by Country (Egypt, Nigeria, Morocco, Indonesia, Bangladesh, Malaysia, United Arab Emirates, Saudi Arabia, Pakistan, Turkey, Kazakhstan, Jordan, Qatar, Sudan, Lebanon, Uganda, Benin, Cameroon, Gabon, Cote d’Ivoire, Vietnam, Singapore, Mexico, Argentina, Thailand, Philippines, Nepal, Myanmar, and Rest of the World)
To know the latest trends and insights prevalent in the Global Meningitis Vaccines Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/meningitis-vaccines-market-5042
Moreover, increasing research and development activities in developing meningitis vaccine by the key players in market are expected to drive market growth over the forecast period. For instance, in August 2020, GlaxoSmithKline Plc., a multinational pharmaceutical company, made an announcement that patient dosing had begun in a phase III clinical program investigating its 5- in-1 meningitis (MenABCWY) vaccine candidate when compared to the licensed meningococcal vaccines, Menveo and Bexsero. The initial phase 3 studies were conducted in patient aged 10-25 years in Canada, the U.S., Turkey, Europe, and Australia.
Key Takeaways of the Global Meningitis Vaccines Market:
- Global meningitis vaccines market is expected to exhibit a CAGR of 6.4% during the forecast period due to increasing approvals from regulatory bodies to key players for meningitis vaccines. For instance, in November 2020, Sanofi, a multinational healthcare company, announced that the European Commission had approved MenQuadfi for the active immunization of individuals from the age of 1 year and older against invasive meningococcal disease caused by Neisseria meningitidis serogroups A, W, C, and Y
- On the basis of vaccines, the pneumococcal conjugate vaccine segment is estimated to account for the largest market share in the global meningitis vaccines market over the forecast period, owing to increasing product approvals by regulatory bodies to key players for meningitis vaccines. For instance, in December 2021, Merck & Co., Inc., a multinational pharmaceutical company, received European Commission (EC) approval for its VAXNEUVANCE, a pneumococcal 15-valent conjugate vaccine indicated for active immunization for the prevention of pneumonia and invasive disease caused by Streptococcus pneumoniae in adults
- Among distribution channels, the government segment is estimated to hold a dominant position in the global meningitis vaccines market over the forecast period, owing to increasing initiatives undertaken by governments of countries to combat For instance, in June 2021, the government of Indonesia with support from Gavi, the Vaccine Alliance, UNICEF, the Bill and Melinda Gates Foundation, and other partners introduced pneumococcal conjugate vaccine (PCV) across the country to immunize around 4.5 million children against pneumococcus bacteria.
- 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.
