Meningococcal vaccine: Key market research findings
- The Americas to dominate the market geographically
- Increasing preference for combination vaccines in the market
- Key vendors – GSK, Pfizer, and Sanofi
Technavio’s market research analysts predict the global meningococcal vaccine market to grow at a CAGR of around 13% between 2016 and 2020. The market’s growth is the inclusion of meningococcal vaccination in the National Immunisation Program (NIP) of various countries. The addition of meningococcal vaccine in NIP increases its accessibility for low-income families. Governments of various countries conduct routine immunization schedules to ensure the availability of these vaccines. During 2015, the Americas dominated the global meningococcal vaccine market with a market share of around 76%. Factors such as the growing consumption of meningococcal vaccines due to a high rate of incidence in the US coupled with the affordability of therapies owing to well-structured reimbursement plans are expected to further fuel growth in the meningococcal vaccine market in the Americas during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Combination vaccines are currently gaining traction in the market. These vaccines eliminate the need to administer individual vaccines. The lower the number of injections administered, the lower the frequency of injection site reactions, such as pain, increasing patient compliance. Increased compliance results in effective prevention of the disease. Besides, they also decrease the packaging and transportation expenditure associated with multiple individual vaccines,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
The designation of meningococcal vaccine as a traveler’s vaccine plays a key role in the growth of the global market. Governments worldwide are mandating the immunization of travelers visiting certain countries with meningococcal vaccines to prevent the spread of infectious agents. The meningitis belt, extending from Senegal in West Africa to Ethiopia in East Africa, poses the highest risk of developing this disease. Anyone traveling to these regions is vaccinated or revaccinated as per government regulations to prevent undue transmission of meningitis.
The key vendors in the market include GSK, Pfizer, and Sanofi. The market is highly competitive with the presence of numerous small and large vendors. Competition in this market is expected to intensify due to the presence of local manufacturers in different regions and the entry of several new players. Vendors are entering into strategic alliances to promote and manufacture drugs.
A more detailed analysis is available in the Technavio report, Global Meningococcal Vaccine Market 2016-2020.
