Research Nester recently published a report titled “Global Meningitis Vaccine Market: Outlook, Industry Analysis & Opportunity Evaluation – 2018-2027” that delivers a detailed overview of the global meningitis vaccine market in terms of market segmentation by vaccine, composition, end-users, and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model analysis.
Factors such as favorable government initiatives to develop the healthcare infrastructure along with the increasing healthcare expenditure have resulted in elevating the market growth across the regions.
High prevalence of meningitis is a major factor that drives the market growth. According to WHO, Serogroups B and C (MenB, MenC) are responsible for most diseases in Europe and North America. Moreover, diseases caused by serogroup W (MenW) is common in parts of Africa and South America. The occurrences of these diseases along with Epidemics of disease caused by N. meningitidis serogroup A (MenA) are mostly found in the sub-Saharan Africa and Southeast Asia regions.
In 2018, the global meningitis vaccine market was valued at USD 12,783.1 million and the market is predicted to grow at a robust CAGR of 8.9% over the forecast period (2019-2027).
In the past few years, the market has significantly resulted in an increased demand on account of the increasing disposable income of the present population, which is directly influencing the healthcare expenses positively. The share of health care spending sponsored by federal, state, and local governments is expected to increase as well on the back of rising medical enrollments, across the globe
Regionally, the market in North America is predicted to generate the highest market demand, growing at a CAGR of 8.9%, over the forecast period. Also, the growing disease awareness accompanied with the growing healthcare expenditure and reportedly high meningitis incidence rate, the meningitis vaccines market is projected to witness a modest growth across Canada, during the forecast period. Moreover, the government of Canada reported 95 incidences in 2016 due to meningitis, as compared to the 152 incidences in the year 2010. Also, the factors such as increasing availability of advanced pharmaceuticals and high adoption rate to newer drugs are expected to result in an increasing demand for meningitis vaccines.
However, the growth of the market is likely to witness some drawbacks such as associated side effects & growing resistance of meningitis species. The possible side effects of the meningitis vaccine such as soreness, redness, or swelling, tiredness (fatigue), headaches, muscle or joint pain, fever or chills, and nausea or diarrhea are expected to limit the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the market which includes company profiling of Sanofi Pasteur, GSK, Pfizer, Merck, Serum Institute of India Pvt. Ltd., Hualan Biological Engineering Inc., and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global meningitis vaccine market that will help industry consultants, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.