Meningitis is the disease that leads in inflammation of the protective membranes covering the brain and spinal cord due to bacterial or viral infection for which meningitis vaccines are providing active acquired immunity towards the diseases. Meningitis vaccines are comprised of biological formulations used to prevent meningitis of serogroups A, C, W, and Y. These vaccines are mainly available in polysaccharide and conjugate compositions.
The global demand for the meningitis vaccine is increasing on the back of the growing healthcare sector globally. Furthermore, the advanced meningitis vaccines further provide precise and accurate dosing with minimalist side effects to the vaccinated population. A number of promising meningitis vaccine discovery projects are being funded by Meningitis Vaccine Project, a partnership between WHO and PATH, which is anticipated to lure larger market players into the research and developmental activity for the market.
Furthermore, research funding is being provided by various market players to improve their product portfolio by incorporating advances such as growing number and type of vaccine targets, coupled with novel, more effective formulations, adjuvants, and routes of delivery for vaccines is expected to expand the market, subsequently. Some of the major market players include, Sanofi Pasteur, GSK, Pfizer, Merck, and Essilor among other prominent players.
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The global meningitis vaccine market is segmented into 5 major regions comprising North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions, North America is estimated to hold largest market share, during the forecast period, on the back of growing disease awareness accompanied with growing healthcare expenditure and reportedly high meningitis incidence rate, the market is projected to display a modest growth across Canada, during the forecast period.
North America held a market share of 41.2% in the year 2018. This can be attributed to the rising demand for efficient disease preventive vaccines, across the region.
The market is bifurcated by vaccine into meningococcal vaccine, pneumococcal vaccine, and Hib. Among these, the pneumococcal vaccine segment held the largest market share of 65.75% in 2018 and is expected to reach a CAGR of 8.8% by 2027. This growth is on account of their effectiveness, as the pneumococcal vaccines provide disease prevention with 71-93% effectiveness.
The market is segmented into polysaccharide vaccine, conjugate vaccine and others segments, out of which the conjugate vaccine segment held the largest market size in 2018.
The market is segmented on the basis of composition into hospitals, clinics, ambulatory surgical centers and others. Among these segments, the hospital segment held the highest market share in 2018 and is expected to reach a CAGR of 8.9% by 2027.
The market growth is significantly driven by the growing healthcare expenditure. The share of healthcare spending sponsored by federal, state, and local governments is expected to increase as well on the back of rising medical enrollments, across the globe. Moreover, high prevalence of meningitis is another factor for the market growth. At least 12 different N. meningitidis serogroups have been identified, based on the chemical composition of their polysaccharides. Six of these serogroups cause disease: serogroups A, B, C, W, X, and Y. Also, Neisseria meningitidis is a leading cause of bacterial meningitis, which plays as a key factor in the progression of market. According to the World Health Organization, the disease has a high mortality rate (up to 50% if left untreated) and can leave 10% of those who do survive with devastating consequences such as deafness, brain damage, and loss of limbs.
One of the major restraining factors for the market growth is the side effects & growing resistance of meningitis. The possible side effects of the vaccines are soreness, redness, or swelling, tiredness (fatigue), headache, muscle or joint pain, fever or chills, and nausea or diarrhea. Moreover, the frequency of meningitis due to penicillin-resistant Streptococcus pneumoniae (PRP) has increased in recent years, making treatment failure more likely. All these factors are also expected to hamper the market growth, during the forecast period.
Sanofi Pasteur, GSK, Pfizer, Merck & Co., Inc., Janssen Pharmaceutica, and Essilor are some of the leading players in the global meningitis vaccine market.
Sanofi Pasteur, the vaccine division of multinational pharmaceutical company Sanofi, is entirely devoted to the development of vaccines. The company is among the leaders in the vaccine industry providing more than one billion doses of vaccine each year and making it possible to immunize more than 500 million people, worldwide, per year, against diseases such as polio or influenza. Sanofi Pasteur is a key supplier to the publicly funded international markets such as UNICEF, the Pan American Health Organization (PAHO), and the Global Alliance for Vaccine and Immunization (GAVI). In 2017, Sanofi announced the acquisition of Protein Sciences, a vaccine biotechnology company based in Connecticut, in the US. Additionally, new players in the market are also adopting the similar strategies in order to increase their product portfolio and gain a wider prevalence in the market.
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