Three meningococcal vaccines are
available in the U.S. that include meningococcal polysaccharide vaccine
(MPSV4), meningococcal conjugate vaccine (MCV4), serogroup B meningococcal
vaccine. The vaccine is administered to 11 to 12 year olds and a booster dose
is given at 16 years of age. International travelers to Mecca for Hajj,
sub-Saharan Africa, and other meningococcal epidemic prone areas require
meningococcal vaccine.
The global Meningococcal
Vaccines Market is estimated to account for US$ 3,341.9 Mn in terms of
value and is expected to reach US$ 7,732.3 Mn by the end of 2027.
Global Meningococcal Vaccines
Market: Drivers
Increasing number of travelers to
Hajj is expected to propel growth of the global meningococcal vaccines market
over the forecast period. For instance, according to Travelport Worldwide Ltd.,
Asia Pacific recorded the highest growth in flight bookings made through global
distribution system to airports around Mecca in 2019, recording 5% increase in
number of bookings.
Global Meningococcal Vaccines
Market: Opportunities
R&D related to meningococcal
vaccination is expected to offer lucrative growth opportunities for players in
the market. For instance, in October 2019, researchers from The Children’s
Hospital at Westmead, Australia, reported assessment of meningococcal vaccine
uptake among Hajj pilgrims.
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Global Meningococcal Vaccines
Market: Restraints
Maintenance of cold chains to
deliver vaccines leads to high cost of vaccination, which is expected to hinder
growth of the market. Maintaining the cold chain (which comprises a series of
refrigerators, and ice-chilled carriers maintaining temperature between 2
degree Celsius and 8 degree Celsius for vaccine storage) is a major challenging
task while delivering the vaccines to the needy, especially in the developing
countries.
Key Takeaways:
The global meningococcal vaccines
market was valued at US$ 2,965.9 Mn in 2019 and is forecast to reach a value of
US$ 7,732.3 Mn by 2027 at a CAGR of 12.7% between 2020 and 2027. Major factor
driving the growth of global meningococcal vaccines market during the forecast
period is increasing prevalence of meningitis, and increasing government
initiatives for increasing vaccinations.
Conjugate vaccines segment held
dominant position in the global meningococcal vaccines market in 2019,
accounting for 85.5% share in terms of value. Products approval for
meningococcal conjugate vaccine candidates has supported growth of the segment.
For instance, in December 2016, Pfizer Inc. received an European Commission
(EC) approval for its expanded indication for Nimenrix (meningococcal group A,
C, W-135, and Y conjugate vaccine), which is indicated for active immunization
against invasive meningococcal disease (IMD).
Private distribution segment held
dominant position in the global meningococcal vaccines market in 2019,
accounting for 81.3% share in terms of value, followed by government
distribution channel, respectively. Private vaccination centers charge for
vaccines while government vaccine distribution centers provide vaccine for
free/at low price through various immunization programs. This is expected to
support growth of the segment over the forecast period.
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Report: https://www.coherentmarketinsights.com/market-insight/meningococcal-vaccines-market-3864
Market Trends
Domestic pilgrims of Hajj often
miss the compulsory meningococcal vaccine. For instance, according to the
study, ‘Meningococcal Vaccine for Hajj Pilgrims: Compliance, Predictors, and
Barriers’, published in MDPI Tropical Medicine and Infectious Disease, in
October 2019, 81.7% confirmed their meningococcal vaccination status, 13.4% did
not receive the vaccine, and 4.8% were unsure.
Several state governments in the
U.S. are mandating meningococcal vaccination. For instance, in January 2020,
the Government of New Jersey, U.S., mandated college students to be vaccinated
against bacterial meningitis as a condition for attending an institution.
Regulations
Canada
Health Canada launched a newly
approved 4CMenB vaccine in all the provinces in late 2013. On an average, the
cost of Novartis’s 4CMenB vaccine Bexsero is high i.e. US$ 100, but the
reimbursement pattern is yet to be established.
Biologics and Genetic Therapies
Directorate, in collaboration with Public Health Agency of Canada, conducts a
pre-release test which includes quality of vaccine, safety and effectiveness.
After extensive review of all supporting data, the vaccine receives marketing
approval.
Global Meningococcal Vaccines
Market: Competitive Landscape
Major players operating in the
global meningococcal vaccines market include, Baxter International, Inc.,
Biomed Pvt. Ltd., GlaxoSmithKline plc, JN-International Medical Corporation,
Novartis International AG., Pfizer, Inc., Sanofi SA, and Serum Institute of
India Ltd.
Global Meningococcal Vaccines
Market: Key Developments
January 2020: GlaxoSmithKline plc
funded study ‘Meningococcal B Vaccine and Meningococcal Carriage in Adolescents
in Australia’, published in the New England Journal of Medicine, reported that
the 4CMenB vaccine had no discernible effect on the carriage of disease-causing
meningococci, including group B among Australian adolescents.
September 2019: Baxter
International Inc. attended the Morgan Stanley 17th Annual Global Healthcare
Conference in New York, U.S.
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