Global Meningococcal Vaccines Market to Reach US$4.4 bn by 2022
Transparency Market Research (TMR) has recently published a report on the global meningococcal vaccines market, according to which the market is estimated to expand at a healthy CAGR of 12.40% during the period between 2014 and 2022.The research report, titled “Meningococcal Vaccines Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022,” projects this market to rise from an overall value of US$1.5 bn in 2013 to US$4.4 bn by the end of the forecast period.
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Meningococcal infections such as meningococcemia, meningococcal pneumonia, and Meningitis are caused by Neisseria meningitidis and carry a high risk of mortality if left untreated. However, these infections can be prevented by meningococcal vaccines. Various versions of these vaccines are 85% to 100% efficient against different types of meningococcus, resulting in a swift recovery from sepsis and meningitis.
The meningococcal vaccines market has gained a significant impetus in the global arena in recent years, thanks to the advancement of the medical and healthcare industry in emerging economies. The increasing concerns over the growing incidence of meningitis and sepsis have also fueled the demand for these vaccines significantly across the world, states the report.
The research report has evaluated the worldwide meningococcal vaccines market on the basis of the type of meningococcal vaccine and the geographical distribution of this market. Based on the type, the market has been segmented into conjugate vaccines, men b vaccines, combination vaccines, and polysaccharide vaccines. In terms of revenue, the conjugate vaccines segment is expected to dominate the global market for meningococcal vaccines in the coming years. During the forecast period, the segment is likely to rise at a CAGR of 11.10% and reach a value of US$3.1 bn by the end of it.
On the regional basis, the worldwide meningococcal vaccines market has been segmented into Asia Pacific, Europe, North America, and the Rest of the World. In 2013, North America held the leading position in this market. However, Asia Pacific is likely to emerge as the fastest growing regional market for meningococcal vaccines over the forecast period. The continual rise in the region’s population base and the increasing focus on preventive measures against meningococcal infections are the major factors driving the growth of this regional market, states the research report.
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The report also studies the competitive landscape of the global market for meningococcal vaccines by profiling the key companies operating in this market. Serum Institute of India Ltd., Sanofi SA, Pfizer Inc., Nuron Biotech Inc., JN-International Medical Corp., GlaxoSmithKline Plc, Biomed Pvt. Ltd., Novartis International AG, and Baxter International Inc. have been identified as the leading meningococcal vaccine producers in the global arena. Among these, Sanofi, GSK Plc, and Novartis International dominate the worldwide market with a collective share of approximately 90%, notes the market study.