New York, May 18, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Meningococcal Vaccines Market Size, Share & Trends Analysis Report By Brand, By Type, By Serotype, By Age Group, By Sales Channel, By Region and Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06278030/?utm_source=GNW
Meningococcal Vaccines Market Growth & Trends
The global meningococcal vaccines market size is expected to reach USD 4.92 billion by 2030, registering a CAGR of 6.2%. Increasing prevalence of meningitis is one of the major factors attributed to the market growth. For instance, according to ECDC, it was estimated that in 2017, 3,221 confirmed cases were observed in EU member states, wherein 58% cases were found in the U.K., France, Spain, and Germany. Moreover, a high incidence of meningitis disease is found in the “meningitis belt” of sub-Saharan Africa, and approximately 30,000 cases are reported every year in this region.
In addition, rising FDA approval for meningococcal vaccines is expected to boost the growth.For instance, in April 2020, Sanofi received FDA approval for its MenQuadfi Meningococcal Conjugate Vaccine for the prevention of invasive meningococcal disorders in individuals at least two years old.
The increase in approval of novel vaccines is 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 are anticipated to boost the meningococcal vaccine market growth.For instance, from April 2019, Nimenrix was made available for free as a part of the National Immunization Program (NIP) in Australia for the age group 15 to 19 years.
Nimenrix is a quadrivalent meningococcal vaccine that targets serogroups A, C, W & Y.
According to WHO, as of 2021, 24 of the 26 nations in the meningitis belt have introduced mass preventive campaigns targeting the age of 1 to 29 years.Moreover, around 13 nations have undertaken the vaccine in their national routine immunization programs.
Such initiatives undertaken by countries having high disease burdens are expected to boost the market growth.
Non-profit organizations entering into strategic initiatives such as partnering, alliances, and others to improve access to new vaccines for vulnerable children are anticipated to drive the market.For instance, in September 2021, WHO and its partners announced the first-ever global strategy to defeat meningitis.
This initiative aims to reduce epidemics of bacterial meningitis. Under this strategy, WHO goals to save more than 200,000 lives annually.
The availability of vaccines at lower prices in countries with an increasing prevalence of the meningococcal disease is anticipated to fuel the revenue of the manufacturers and drive the meningococcal vaccine market. For instance, under Meningitis Vaccine Project, MenAfriVac costs less than USD 0.5 per dose.
Meningococcal Vaccines Market Report Highlights
• Quadrivalent vaccines dominated the type segment owing to their ability to target four serogroups and the strong presence of vaccines such as Menveo, Menactra, and Nimenrix
• The infants (0-2 years) segment accounted for the significant revenue share, by age group, in 2021. The increasing prevalence of meningitis in the age group 9 months to 11 years contributed to the segment growth
• Asia Pacific region is expected to witness the highest CAGR over the forecast period. High unmet needs, rising healthcare expenditure, and a large population base in this region are likely to bolster the market
Read the full report: https://www.reportlinker.com/p06278030/?utm_source=GNW
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