New York, April 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Meningococcal Vaccines Global Market Report 2023" - https://www.reportlinker.com/p06451005/?utm_source=GNW
Ltd., Bio-Manguinhos, Hualan Biological Engineering Inc., JN-International Medical Corporation, Johnson and Johnson, AstraZeneca plc, and Bavarian Nordic A/S.
The global meningococcal vaccines market is expected to grow from $3.21 billion in 2022 to $3.53 billion in 2023 at a compound annual growth rate (CAGR) of 10%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The meningococcal vaccines market is expected to grow to $5.09 billion in 2027 at a CAGR of 9.6%.
The meningococcal vaccines market consists of sales of conjugate vaccines, combination vaccines, serogroup B vaccine products, and other types.Values in this market are ‘pharmaceuticals’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Meningococcal vaccinations are vaccines that protect against meningococcal meningitis, an infection with the bacterium Neisseria meningitides that leads to inflammation of the tissues which surround the brain and spinal cord.
North America was the largest region in the meningococcal vaccines market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the meningococcal vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of meningococcal vaccines are meningococcal conjugate vaccine, polysaccharide, and subcapsular vaccine.Meningococcal conjugate vaccine refers to a compound made up of a polysaccharide antigen fused (conjugated) to a carrier molecule.
The different serotypes include Men Acwy, Men B/Bc, and Men C given to various age groups such as infants, children, adolescents, young adults, and adults distributed by pharmacies, community clinics, public health agencies, and others. These are used by various end-users such as hospitals, research, and academic institutes.
An increase in healthcare spending is expected to propel the growth of the meningococcal vaccine market going forward.Healthcare refers to a residential care institution, nursing facility, intermediate care facility for people with mental illnesses, or intermediate care facility for people with mental retardation.
The high expense of new vaccine generations compared to their predecessors has become a key factor in discussions about whether the benefits of the new vaccinations justify their prices.Assessing the complete social and economic advantages of vaccination are becoming an increasingly important area of investigation in the literature on valuing vaccination.
For instance, in May 2022, according to an article published by the American Medical Association, a US-based professional association and lobbying group of physicians and medical students, in 2020, healthcare spending in the United States rose by 9.7% to $4.1 trillion, or $12,530 per person. This pace of growth is significantly higher than 2019 (4.3%). Therefore, an increase in healthcare spending is driving the growth of the meningococcal vaccine market.
Product innovation is a key trend in the meningococcal vaccine market.Major players operating in the meningococcal vaccines market are creating innovative new items using cutting-edge technology to maintain their position in the meningococcal vaccines market.
For instance, in April 2020, Sanofi Pasteur Inc., a France-based life-protecting vaccines company, received Food and Drug Administration (FDA) approval for the usage of menquadfi by those who are at least 2 years old. Menquadfi helps to prevent the spread of invasive meningococcal illness (including meningitis) caused by the bacteria N meningitides serogroups A, C, W, and Y. The initial and single quadrivalent meningococcal strain is called MenQuadfi vaccination. It employs tetanus toxoid as a protein carrier and is accessible in a ready-to-use liquid format, eliminating the need for healthcare personnel to reconstitute the vaccine.
In August 2022, GlaxoSmithKline plc, a UK-based pharmaceutical and biotechnology company, acquired Affinivax Inc. for $3.3 billion. The acquisition of Affinivax is consistent with GSK’s aim of establishing a robust portfolio of specialty medicines and vaccines. Affinivax, Inc., is a US-based next-generation vaccine technology company operating in the meningococcal vaccines market.
The countries covered in the meningococcal vaccines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The meningococcal vaccines market research report is one of a series of new reports that provides meningococcal vaccines market statistics, including meningococcal vaccines industry global market size, regional shares, competitors with a meningococcal vaccines market share, detailed meningococcal vaccines market segments, market trends and opportunities, and any further data you may need to thrive in the meningococcal vaccines industry. This meningococcal vaccines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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