Meningococcal vaccines market is estimated to be over US$ 2,500 Million in 2019. It is anticipated to grow at a CAGR of ~5.6% from 2019 to 2030.
Increasing number of initiatives for development of novel vaccines by government bodies, international health organizations, private sectors and public health bodies has played a crucial role in promoting the growth of meningococcal vaccines market. For instance, from April 2019, Australian Government announced Nimenrix (MenACWY vaccine) to be funded as part of the National Immunization Program (NIP) for adolescents. Moreover, novel vaccines targeting different serogroups of meningococci are receiving approvals for sales in different regions, which in turn is contributing in the growth of the market. For instance, on 30 May 2017, Pfizer Inc. received European Commission (EC) for TRUMENBA (Meningococcal Group B Vaccine). TRUMENBA aids in prevention of invasive meningococcal disease caused by Neisseria meningitidis serogroup B (MenB) among individuals 10 years of age and older. However, the strict storage conditions required for meningococcal vaccines, adds on to the cost, which in turn hampers the growth of the market.
Major Key Players of the Meningococcal Vaccines Market are:
GlaxoSmithKline , Sanofi, Pfizer, Serum Institute of India Pvt. Ltd, Nuron Biotech Inc., BIO-MED, Hualan Biological Engineering Inc, Walvax Biotechnology Co., Ltd. and other key players (if any) among others.
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