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Meningococcal Vaccine Market Outlook from 2024 to 2034

The meningococcal vaccine market has been experiencing significant growth in the past few years, thanks to the rising incidences of the disease worldwide. The valuation, as of 2024, is estimated to be around USD 3950.2 million and is slated to reach USD 9014 million by the end of 2034. Inferring to the ongoing trends, the industry is very likely to showcase a CAGR of 8.6% for the forecast period of 2024 to 2034.

According to the data, in 2019 there were approximately 2.51 million cases of meningitis globally, with 1.28 million cases in children under five years old. Concerns regarding the fatality of this disease have forced the general population to get themselves vaccinated. The trend is primarily observed in countries with well-established healthcare infrastructure, such as the United States, the United Kingdom, India, China, etc.

Growing awareness among both healthcare professionals and the general public about the seriousness of meningococcal disease is contributing to the increased demand for vaccines.

Besides this, government initiatives and immunization programs curated to prevent meningococcal disease are also driving market growth. Many countries have already implemented vaccination programs for infants, adolescents, and young adults, to reduce the incidence of meningococcal disease within their populations.

Medicare advancements leading to the development of more effective and convenient meningococcal vaccines are also one of the main reasons the industry is growing quickly. Key players in the market are investing heftily in curating newer vaccines that offer broader protection against multiple strains of meningococcal bacteria and require fewer doses. By doing so, they are attracting a substantial number of healthcare providers and patients.

The widening scope of vaccination recommendations by governments in the developed and developing parts of the world is also increasing the potential of this industry to flourish in the coming years.

Attributes Description
Estimated Global Meningococcal Vaccine Market Size (2024E) USD 3950.2 million
Projected Global Meningococcal Vaccine Market Value (2034F) USD 9014 million
Value-based CAGR (2024 to 2034) 8.6%

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Key Industry Highlights

Expansion of Vaccination Programs to Benefit Meningococcal Vaccine Market Growth

One crucial trend that is fueling the growth of meningococcal vaccine industry is the expansion of vaccination programs globally. Governments in various countries, with the help of private as well as public healthcare facilities, are increasingly including meningococcal vaccines in their national immunization schedules.

They are targeting not only infants and young children but also adolescents, college students, and travelers to regions where the disease is endemic.

Key Players are Developing New Vaccine Formulations

Post-pandemic, the pharmaceutical industry, across the world, has experienced a considerable transformation. Industry-giants are investing billions of dollars, which has led to more research and development activities.

This trend is also observed to be applying for meningococcal vaccines. The newly formulated vaccines are more efficient, safe, and convenient to use. Their adoption is also touching the skies as they provide protection against multiple strains of meningococcal bacteria.

High Costs of Vaccines to Hamper Adoption

Despite its health benefits, the high costs of meningococcal vaccines is the largest restraint slowing down this industry. In low-income countries, the healthcare facilities are very poor. This has kept an enormous number of underserved populations away from the industry.

This trend is often observed in Middle East and African countries, where people generally have low per capita incomes. Key players in this region must collaborate with government and international organizations to address the affordability issue and improve access to vaccines.

Plunge in Demand for Vaccines due to Hesitancy and Misinformation

In countries with lower literacy rates and poor healthcare infrastructure, there is an observed trend of vaccine hesitancy and misinformation among the general populace. This can pose significant challenge in the growth of meningococcal vaccine industry.

There’s also a challenge of logistics when it comes to delivering vaccines to remote or underserved areas. This can result in lower vaccination coverage rates, leaving populations vulnerable to meningococcal disease outbreaks.

2019 to 2023 Global Meningococcal Vaccines Sales Outlook Compared to Demand Forecast from 2024 to 2034

The meningococcal vaccine market, in the past, has been showcasing a stable growth rate before the pandemic hit the world. The governments in various countries, with the help of international organizations like the World Health Organization and the International Monetary Fund were organizing vaccination campaigns in underdeveloped countries. These initiatives were quite successful in mitigating the disease.

With the pandemic, the shift of almost all healthcare facilities shifted towards minimizing the spread of the virus. Healthcare and pharmaceutical companies also concentrated all their research on the development of new COVID-19 vaccines. This negatively impacted the meningococcal industry. The closing of economies also meant that people had very little disposable income with them to afford costly vaccines.

With the opening of the economies, the world become accustomed to the new normal. Governments also continued their vaccination campaigns. Also, increased travel and the reopening of educational institutions spurred the demand for meningococcal vaccines, as these environments are prone to outbreaks. In the period between 2019 to 2023, the industry exhibited a CAGR of 7.9%.

In the time to come, as parents become increasingly aware of the fatality of meningococcal disease, the demand for these vaccines is very likely to rise noticeably.

Sabyasachi Ghosh
Sabyasachi Ghosh

Principal Consultant

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Comparative Market Overview

Medicare advancements and hefty investments by healthcare companies have flooded the international marketplace with newer vaccine formulations. The ongoing trends and challenges of the dengue vaccine industry and the vaccine industry have been discussed below. These industries showcase similar dynamics in comparison to the meningococcal vaccine market.

Referring to these numbers, it can be confidently projected that the dengue vaccine industry is very likely to have a promising future as compared to the other two.

Dengue Vaccines Industry Assessment:

Dengue vaccine development has entered an important stage of its lifecycle - with a host of pharmaceutical giants expected to present the results of their extensive clinical trials initiated in the past decade or half a decade. The future availability of various alternatives is likely to break the monopoly of the existing Denvaxia® vaccine.

Attributes Description
Related Industry Dengue Vaccines Industry
CAGR (2024 to 2034) 12.9%
Growth Factor The rising prevalence of dengue fever is expected to drive growth in the dengue vaccine industry over the forecast period.
Restraint Basic sanitation and hygiene practices are the only course of action in some regions, as availing of the vaccine is often very expensive.
Trend Certain organizations have contributed to the creation of numerous vaccinations that are beneficial in the elimination of dengue.

Vaccines Market Industry Assessment:

Governments investing huge capital in progressive healthcare systems are anticipated to expand the vaccine market size. Government healthcare programs deliver vaccines to infants to provide them with prevention from chronic diseases like tuberculosis, rotavirus, etc. The rise in new diseases like H1B1 infection, and swine flu (H1N1) is pushing the authorities to adopt new methods that help in preventing the diseases.

Attributes Description
Related Industry Vaccines Market Industry
CAGR (2024 to 2034) 6.6%
Growth Factor Increased healthcare budget post-pandemic along with the extended research and development programs fuels the demand for the vaccines market.
Restraint The development of vaccines is a lengthy, complicated, and expensive process. As a result, most of the vaccines are usually costlier, which is acting as a key hurdle in the growth of the vaccine industry.
Trends The gene-based vaccines along with immunization and immunotherapy shape new trends in the industry.

Category-wise Insights

The meningococcal vaccine market is categorized mainly into three: product type, age group, and distribution channel. The top two categories are discussed below.

Conjugate Vaccines to Gain Impetus amid the Rising Incidences of Meningococcal Disease

Meningococcal vaccines come in two main types: conjugate and polysaccharide. As of 2024, the conjugate vaccine holds an industry share of 63.6%.

Segment Conjugate Vaccines (Product Type)
Value Share (2024) 63.6%

The clamor for conjugate vaccines as compared to the polysaccharide ones is touching the skies as they are more effective at providing long-lasting immunity and are better at reducing carriage and transmission of the bacteria. These vaccines also offer a stronger immune response, especially in young children, and offer greater protection across diverse populations.

Adolescents and Young Adults are Increasingly Taking Meningococcal Vaccines

Key players are actively targeting their vaccine campaigns to almost all age groups. Among these, the adolescents and young adult age group holds the majority share of 30.3%, in 2024.

Segment Adolescents and Young Adults (Age Group)
Value Share (2024) 30.3%

The adolescent and young adult demographic is generating tremendous demand for meningococcal vaccines as these age groups are at higher risk for contracting meningococcal disease, particularly in settings like schools, colleges, and military barracks. Besides this, awareness campaigns emphasizing the severe consequences of meningococcal disease are also compelling parents and young adults to prioritize vaccination.

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Country-wise Insights

The section describes the region-wise analysis of the global meningococcal vaccine market in the coming future. According to these numbers, it can be predicted that Western countries like the United States of America and the United Kingdom are very likely to have a promising growth rate in the next ten years. China is also one of the most lucrative countries in this industry in the Asian region.

Countries CAGR 2024 to 2034
The United Kingdom 9.8%
The United States 9.4%
China 9.5%
France 9.0%
Germany 8.7%

The United Kingdom’s National Immunization Programs Benefits the Industry

The United Kingdom also is very likely to exhibit a CAGR of 9.8% through 2034 in the meningococcal vaccine market.

The United Kingdom, as a country, is blessed with a robust healthcare system. The government as well as the private medicare system in the country actively takes up various initiatives to promote the overall well-being of the general populace.

The United Kingdom’s strong national immunization program that includes meningococcal vaccines as part of routine childhood and adolescent vaccinations is also fueling an excellent demand for the industrial growth of the meningococcal industry.

Government and School Mandates to Benefit the United States Meningococcal vaccine market

The United States is one of the most prominent countries when it comes to the meningococcal vaccine market. It is very likely to register a CAGR of 9.4% through 2034.

The United States government is very particular about the spread of meningococcal disease among its population, especially the young and school-going children. They have even implemented mandatory meningococcal vaccination requirements for school and college entry. This is primarily done to ensure high vaccination coverage, which is in turn increasing the adoption of meningococcal vaccine.

Growing Healthcare Infrastructure to Augment the Adoption in China

The Chinese meningococcal industry is slated to show a 9.5% CAGR for the forecast period of 2024 to 2034.

The Chinese government, after the pandemic, has been emphasizing a lot on the general public’s overall well-being. This is the reason why the government is investing billions of dollars in the medical inclusivity of its population in the public healthcare system. This naturally has generated an enormous demand for meningococcal vaccines in the country.

Competition Outlook

The competitive landscape of the global meningococcal vaccine market is primarily driven by innovations in vaccine formulations. The consumer base of the company in the industry totally depends on the efficiency, cost, and safety profile of the vaccine they formulate. Companies are also tying up with government and international organizations to expand their market reach and ensure wider vaccine accessibility.

Some of the most prominent companies in the industry are GlaxoSmithKline plc, Pfizer Inc., Sanofi Pasteur, Merck & Co., Inc., and Novartis AG.

Industry Updates

  • In April 2024, Nigeria made history by introducing the world's first 5-in-1 meningitis vaccine, Men5CV. The vaccine, recommended by WHO, aims to combat the deadly disease, with an initial campaign targeting over one million people aged 1-29.
  • In November 2023, GlobalData reported significant changes in the meningococcal vaccine market with the launch of Pfizer's Penbraya. The CDC's Advisory Committee on Immunisation Practices recommended administering Penbraya alongside MenACWY and MenB vaccines for eligible patients aged 10 years and older.
  • In July 2023, the Serum Institute of India announced that its multivalent meningococcal meningitis vaccine, designed to combat the five predominant strains in Africa, had received WHO prequalification. This approval made the vaccine eligible for procurement by UN agencies and Gavi, the Vaccine Alliance.

Leading Meningococcal Vaccines Brands

  • GlaxoSmithKline plc
  • Pfizer Inc.
  • Sanofi Pasteur
  • Merck & Co., Inc.
  • Novartis AG
  • CSL Limited
  • Johnson & Johnson
  • Bharat Biotech International Limited
  • Serum Institute of India Pvt. Ltd.
  • Sinovac Biotech Ltd.
  • Biological E Limited
  • Chongqing Zhifei Biological Products Co., Ltd.
  • Beijing Tiantan Biological Products Co., Ltd.
  • Hualan Biological Engineering Inc.
  • Walvax Biotechnology Co., Ltd.
  • Bio-Manguinhos (Fiocruz)
  • Hangzhou Jinjiang Group Co., Ltd.
  • Shenzhen Kangtai Biological Products Co., Ltd.
  • Biomed Pvt. Ltd.
  • GlaxoSmithKline Biologicals SA

Key Segments of Market Report

On the basis of product type:

The sector is bifurcated into polysaccharides and conjugates.

Based on the age group:

The industry is segmented into infants, children, adolescents, young adults, and adults.

On account of end users:

The sector is segmented into, pharmacies, community, clinics, public health agencies, and others.

As per region:

The industry is divided into North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa

Frequently Asked Questions

What is the overall global valuation for this industry?

The global valuation is USD 3950.2 million as of 2024.

What does the future of this industry look like?

The market is expected to reach USD 9014 million by 2034.

What is the growth of this industry in terms of CAGR?

The market is growing at a CAGR of 8.6% from 2024 to 2034.

Who are the prominent leaders?

GlaxoSmithKline plc, Pfizer Inc., Sanofi Pasteur, Merck & Co., Inc., and Novartis AG., are some of the major players.

What was the Meningococcal Vaccine Market Value in 2023?

In 2023, the global market was valued at USD 3638 million.

Table of Content

1. Executive Summary

2. Industry Introduction, including Taxonomy and Market Definition

3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments

4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections

5. Pricing Analysis

6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034

    6.1. Type

    6.2. Age Group

    6.3. Serotype

    6.4. End-User

7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type

    7.1. Bivalent

    7.2. Quadrivalent

    7.3. Others

8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Age Group

    8.1. Infants (0 to 2 years)

    8.2. Children And Adults (2 years & above)

9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Serotype

    9.1. Serotype A

    9.2. Serotype B

    9.3. Serotype C

    9.4. Serotype W-135

    9.5. Serotype Y

10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-User

    10.1. Hospitals

    10.2. Pharmacy Stores

    10.3. Others

11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region

    11.1. North America

    11.2. Latin America

    11.3. Western Europe

    11.4. South Asia

    11.5. East Asia

    11.6. Eastern Europe

    11.7. Middle East & Africa

12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

14. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

15. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

17. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

18. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

19. Sales Forecast 2024 to 2034 by Type, Age Group, Serotype, and End-User for 30 Countries

20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard

21. Company Profile

    21.1. Pfizer Inc.

    21.2. GlaxoSmithKline plc.

    21.3. Sanofi SA

    21.4. Serum Institute of India

    21.5. Walvax Biotechnology Co., Ltd.

    21.6. Incepta Pharmaceuticals Limited

    21.7. Hualan Biological Engineering Inc.

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