Meningitis Vaccine Market

Meningitis Vaccine Market : Global Demand, Growth Analysis & Opportunity Outlook 2023

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Report ID: 231 | Published On: Apr 05, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


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GlobalMarket Overview

Meningitis is a bacterial infection which occurs due to seasonal variations which born several harmful bacteria. Rising awareness towards vaccinations and rising incidents of meningitis across the globe are the main demand growing factors for the meningitis vaccine. Increase in healthcare expenditure across the globe by developing and emerging nations are changing the scenario of healthcare sector in order to provide better and effective cure. Emerging economies are adopting advanced vaccinations to minimize the burden of diseases which is further cutting down the figure of health expenditure. 

                        

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Market size and forecast

The global meningitis vaccine market was valued USD 2.1 Billion in 2015 and the market is further anticipated to garner USD 5.2 Billion by 2023. Further, the global meningitis vaccine market is predicted to flourish significantly at a CAGR of 14.5% over the forecast period i.e. 2016-2023.

North America accounted the highest market share in terms of revenue in overall market of meningitis vaccine across the globe. The market is expected to maintain its dominance over the forecast period on the back of rising government interventions, increasing healthcare expenditure, rising awareness towards meningitis by various immunization programs.

On the other hand, Asia-Pacific is expected to be the most opportunistic and fastest growing region across the globe in meningitis vaccines market due to growing demand for advanced vaccines in emerging nations such as India, China, etc. increase in GDP figure, and rising awareness towards healthcare in order to minimize the burden of diseases.

Further, boost in research and development in healthcare sector in order to develop low cost and effective vaccines for the consumers are likely to grow awareness towards vaccinations among the population. The market of meningitis vaccines is majorly driven by the factors such as introduction of low cost meningitis vaccines as those are more effective than the conventional vaccines.

Rising awareness towards meningitis diseases and their preventions and introduction of favorable re-imbursement policies by the government organizations across the globe are likely to shift the consumer to adopt advanced meningitis vaccines in order to minimize the disease burden.

The meningitis vaccine market is estimated to expand in terms of demand in near future on account of growing awareness towards cost-effective vaccines, and positive growth in GDP figure in developing nations.


Market Segmentation

Our in-depth analysis segmented the global meningitis vaccine market in the following segments:

By Diseases Type

  • Viral Meningitis
  • Bacterial Meningitis
  • Meningococcal Disease
  • Pneumococcal Meningitis
  • TB Meningitis
  • Fungal Meningitis
  • Hib Meningitis
  • Other types of Meningitis

By Product

  • Meningitis A+C
  • Meningitis ACWY135
  • Meningitis B

By Vaccines

  • Polysaccharide Vaccines
  • Conjugate Vaccines
  • Combination Vaccines

By End-User

  • Hospitals
  • Clinics/ Nursing homes
  • Research laboratories

By Region

Global Meningitis Vaccine Market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis


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Growth Drivers and challenges

Increase in child births coupled with high risk of bacterial infections due to low immunity of infants, rising incidents of meningitis due to lack of awareness towards hygiene, growing awareness towards advanced healthcare vaccinations are some of the factors driving the market of meningitis vaccine across the globe. Apart from this, factors such as introduction of cost-effective vaccinations, growing awareness towards early prevention and vaccinations, rising preferences by physicians towards vaccinations are some of the key elements prompting the demand for meningitis vaccines over the forecast period i.e. 2016-2023. Additionally, increase in personal disposable income of the population in developing regions and increasing healthcare spending owing to growing concern towards cure and treatment of various bacterial infections, rising concern towards early prevention and health-hygiene are some of the major key elements swelling the demand for meningitis vaccines.

However, high cost of meningitis vaccines, lack of awareness towards meningitis in under-developed nations, and lack of skilled healthcare physicians are some of the factors likely to restraint the market of meningitis vaccine across the globe.


Key Players

The key players of meningitis vaccine market are as follows:

  • GlaxoSmithKline
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Baxter International
  • Sanofi Pasteur
  • Merck
  • Pfizer
  • Zhejiang Tianyuan
  • Beijing Tiantan Biological


Meningitis Vaccine market
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