Meningococcal vaccines are utilized to prevent infections induced by N. meningitides, such as septicemia, meningococcemia, and meningitis. Meningococcal disease, mainly meningococcal meningitis, is highly communicable between groups or individuals. To date, several meningococcal serogroups have been found, with serogroups A, B, C, Y, and W-135 being the most common causes.
Meningococcal illness is uncommon, although it has a casualty rate of 10% to 20%. It usually causes significant problems if left unchecked. Meningococcal meningitis is an infection of the spinal cord and brain lining. It has the possibility of causing large-scale breakouts and endemic diseases. Annually, 15 to 20 people die from meningococcal disease. Moreover, one in every five survivors has long-term issues such as brain damage, deafness, seizures, or limb loss. As a result, global demand for meningococcal vaccines is skyrocketing.
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The National Meningitis Association (NMA) promotes teamwork by providing chances to collaborate with corporations, government agencies, and other non-profit organizations to promote awareness regarding meningococcal disease, preventative measures, and the crucial need for emergency treatment after diagnosis. Furthermore, the Meningitis Foundation of America (MFA) is a non-profit organization that offers meningitis patients guidance and assistance. The organization also works to increase public and medical knowledge of the early signs of meningitis. As a result, the global meningococcal vaccines market is projected to grow over the forecast period.
The meningococcal vaccines market is anticipated to reach USD 9.2 billion by the end of 2031, expanding at a CAGR of 9.4% from 2022 to 2031 (forecast period).
Strong Focus on Developing Innovative Vaccines to Boost Market Growth
Companies’ increased emphasis on developing innovative vaccines for meningococcal illness is expected to boost the sales of meningococcal vaccines market during the forecast period. In April 2022, for example, researchers from the University of Maryland School of Medicine (UMSOM) launched new research in which they are assessing the five-in-one meningococcal conjugate vaccination (NmCV-5) or pentavalent among newborns and young children in Sub-Saharan Africa’s meningitis belt. This is the final study for achieving World Health Organization prequalification for this vaccine, and if it does, it will be introduced in low- and middle-income nations. As a result of such novel vaccines, the global meningococcal vaccines market is anticipated to expand during the forecast period.
North America to Dominate Meningococcal Vaccines Market
North America is set to dominate the global meningococcal vaccines market during the forecast period. The United States is likely to be the largest revenue generator in meningococcal vaccines market in North America due to increased illness awareness and improved healthcare facilities. According to data given by the CDC (Centers for Disease Control and Prevention), there was a meningococcal disease outbreak in Florida, United States, in 2021. To combat this outbreak, the CDC advised bisexual and homosexual males in Florida to get the MenACWY vaccine. It raised public awareness, which increased the demand for meningococcal vaccines in the country.
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Since the United States has a well-established healthcare system, vaccination is a top priority for the country’s government. As a consequence, timely immunization is conducted in the United States, contributing to the country’s meningococcal vaccines market growth. In the United States, for example, the Meningitis Foundation of America (MFA) is a non-profit organization that strives to provide information and assistance to people affected by meningitis. This organization also aims to raise public and medical knowledge about the early symptoms of meningitis. As a result of the aforementioned factors, the global meningococcal vaccines market is likely to rise steadily over the forecast period.
Moreover, Europe is expected to contribute to the global meningococcal vaccines market during the forecast period.