Meningococcal meningitis has arisen as one of the major health concerns among the public. The disease results in death, and if one survives, it leaves severe after-effects on patients. Healthcare professionals provide cost-effective and efficient treatment across the globe. Meningococcal vaccines are used for the prevention of meningitis. These vaccines are effective for different types of meningococcus, such as type A, B, C, Y, and W-135. These vaccines work efficiently for a minimum period of 2 years and are 80-100% effective. It leads to the growth in the meningococcal vaccines market.
Children less than five years of age are highly vulnerable to the ailment. Neurological disorders are one of the long-term sequelae among young children. Further, 15-19 years of adolescents are also susceptible to the disease. The market forecast on meningococcal vaccines market is expecting a cumulative annual growth rate (CAGR) of 12.9% during the forecast period from 2018 to 2026. By the end of 2026, the valuation of the meningococcal vaccines market is anticipated to grow at US$ 9.9 Bn.
Meningococcal Vaccines Market – Government Regulations and Key Driving Factors Propelling Market Growth
The market insights on meningococcal vaccines market has figured out that the major companies working such as GlaxoSmithKline is concentrating to develop the vaccine catering to public requirements. They are controlling the disease transmission rates. Effective public-private partnership in the meningococcal vaccines market will support vaccine development at an economical rate. It will also curb the frequent emergency visits due to the disease.
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The key trend on meningococcal vaccines market has asserted that awareness campaigns and education are fueling the growth. These campaigns and programs are mainly conducted by non-profit organizations, vaccine manufacturing companies, and government bodies and benefit a larger audience against bacterial meningitis. Further, government interventions, for example – legislative approval to impose immunization regulations for school students related to specific age groups, will fuel the meningococcal vaccines market growth. Strict regulations are imposed for Hajj pilgrims and sub-Saharan travelers to contribute in the meningococcal vaccines market. These regulations are contributing to the increased demand /for meningococcal vaccines among non-profit organizations.
However, the parents of infants and young children in developing countries are unaware of the importance of the pathogenesis of the disease meningococcal meningitis. They do not know about the respective vaccines that are part of the national immunization schedule. That’s why they fail to gain from meningococcal vaccination programs conducted by government bodies. It is hampering the demand for these vaccines, particularly among toddlers and children.
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The awareness gap is a crucial component that leads to a decline in the growth curve in the meningococcal vaccines market. But North America is experiencing subsequent growth with the appropriate Awareness Program and Immunization Programs.
Meningococcal Vaccines Market – Regional Outlook and Public Healthcare
The analysis on meningococcal vaccines market has determined that North American market holds an eminent play in revenue generation for vaccine manufacturers. There is a substantial reduction in meningitis cases in North America and Europe. It is possible with the effective application of government regulations and awareness campaigns there.
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The Asia Pacific market is anticipated to rise at a significant rate from 2018 to 2026. The frequent outbreaks of meningococcal disease, increasing importance of preventive measures to fight the disease, and subsequent growth rate in the region are cumulatively driving the growth in the Asia Pacific region. It is also driving growth in the meningitis vaccines market.
Some of the popular market players in the meningitis vaccines market are GlaxoSmithKline plc, JN-International Medical Corporation, Baxter International, Sanofi SA, Biomed Pvt. Ltd., Nuron Biotech, Serum Institute of India Ltd., Novartis International, and Pfizer Inc.
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