The Global Meningococcal Vaccine Market has witnessed significant growth in recent years, driven by the rising incidence of meningococcal disease worldwide. The market, valued at approximately USD 3.95 billion in 2024, is projected to reach USD 9.01 billion by 2034, reflecting a robust compound annual growth rate (CAGR) of 8.6% during the forecast period from 2024 to 2034.
Key Market Drivers
The primary factor fueling the growth of the meningococcal vaccine market is the increasing global incidence of meningococcal diseases, which has raised awareness about the importance of vaccination. Meningococcal infections, which can cause life-threatening conditions like meningitis and septicemia, are spreading across various regions, prompting governments and healthcare organizations to prioritize vaccination programs.
The ongoing trends of rising healthcare investments, improved access to vaccines, and advancements in vaccine technologies are also expected to significantly contribute to market growth over the next decade. The rising number of vaccination campaigns, along with an increased focus on infectious disease prevention, is set to propel the meningococcal vaccine market forward.
Key Takeaways
- Market Value in 2024: USD 3.95 billion
- Projected Market Value by 2034: USD 9.01 billion
- CAGR: 8.6% from 2024 to 2034
- Growth Drivers: Increasing incidences of meningococcal disease, rising awareness of vaccination, and government-supported vaccination initiatives.
Regional Insights
- North America: Holds a dominant share in the meningococcal vaccine market, driven by high vaccination rates, advanced healthcare infrastructure, and strong government policies for disease prevention.
- Europe: The market in Europe is also growing steadily due to widespread immunization programs and a high level of awareness regarding meningococcal disease prevention.
- Asia-Pacific: Expected to show significant growth due to expanding healthcare access, rising disease prevalence, and increasing government initiatives for immunization.
- Latin America & Middle East/Africa: Emerging markets where the demand for meningococcal vaccines is growing as healthcare access improves and vaccination coverage expands.
Key Insights
- 2024 Market Value: USD 3,950.2 million
- 2034 Projected Value: USD 9,014 million
- CAGR (2024-2034): 8.6%
Market Drivers
The increasing demand for meningococcal vaccines is primarily driven by:
- Rising Incidence of Meningococcal Disease: The growing number of reported cases globally highlights the need for effective vaccination programs.
- Public Health Initiatives: Governments and health organizations are implementing vaccination campaigns to curb the spread of meningococcal infections, particularly among high-risk populations.
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
Get the Comprehensive Full Report Now
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
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
