Global meningococcal vaccine market to be worth $6.5bn by 2030

By Vassia Barba contact

- Last updated on GMT

(Image: Getty/AndreyPopov)
(Image: Getty/AndreyPopov)

Related tags: Vaccination, Vaccine, Vaccines, Meningitis

Market research foresees 10% yearly growth for the global meningococcal vaccine market, due to constant R&D and governmental immunization programs.

By the end of 2029, the global meningococcal vaccine market will be worth $6.5bn (€5.84bn), according to a Persistence Market Research (PMR) report​.

Although many effective meningococcal vaccines have already been developed, according to PMR, “persistent product gaps still remain”. ​New serogroups will lead to the expansion of the age group indication, boosting the market’s growth.

According to PMR, in order to ensure stable supply, manufacturers “must look for committed financing, high-quality manufacturing capacity, strong regulatory systems, and predictable demand.”

The report suggests that collaborations between companies, aiming to evaluate and develop meningococcal vaccines and new supply and healthcare funding models, are becoming ‘progressively necessary’, as a response to emergency outbreaks of meningococcal disease.

Other factors that drive the market’s growth include the need for stable meningococcal vaccine supply in developing countries and the inclusion of these vaccines to national immunization programs (NIP), in both lower and higher economically developed countries.

Suppliers’ entry into the developing world is encouraged by ‘augmented demand’ for Global Alliance for Vaccines and Immunization (Gavi)-aided meningococcal vaccines.

Countries including Vietnam, Cuba, Angola, Indonesia, Bhutan, Honduras, Mongolia and Sri Lanka had received Gavi support to establish further immunization coverage and are now able to afford their own programs.

Single-dose meningococcal vaccine was added to Pakistan’s NIP in 2014, while in February 2018, Australian government’s Ministry of Health announced the addition of add Nimenrix-quadrivalent ACWY vaccines to the country’s NIP.

Additionally, in July 2018, the French Ministry of Health declared immunization with MenC vaccines obligatory for all young children.

Related topics: Markets & Regulations, Emerging Markets

Related news

Show more

Follow us

Products

View more

Webinars