Worldwide Meningococcal Vaccine Industry to garner $4.19 billion by 2026, at CAGR of CAGR 9.5%
Pune, Maharashtra, India, December 15 2020 (Wiredrelease) Allied Analytics –:Global Meningococcal Vaccine Industry garnered $1.93 billion in 2018, and is projected to garner $4.19 billion by 2026, witnessing a CAGR of 9.5% from 2019 to 2026.
Increase in outbreaks of meningococcal disease, surge in immunization programs across the globe, and rise in research and development for vaccine technology propel the growth of the global meningococcal vaccine market. North America accounted for the highest share, holding nearly half of the total share in 2018. Moreover, meningococcal medicine has been used as a placebo effect in a trial for covid-19 conducted by University of Oxford.
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Due to lockdown, immunization programs will come to a halt and program schedules will be changed in various countries.
Research and development activities for vaccine technology will be limited, as researchers need to stay at home during the lockdown.
Meningococcal vaccine is used as a placebo effect in the Covid-19 vaccine trial conducted at the University of Oxford.
Based on vaccine type, the conjugate segment accounted for the largest market share with nearly half of the total share in 2018, and is estimated to maintain its lead position throughout the forecast period. In addition, the segment is expected to register the fastest CAGR of 10.2% from 2019 to 2026.
Based on region, North America accounted for the highest share, holding nearly half of the total share in 2018, and is estimated to maintain its dominant share during the forecast period. On the other hand, the Asia-Pacific region is also anticipated to manifest the fastest CAGR of 14.7% from 2019 to 2026. The market also analyses regions including Europe, North America, and LAMEA.
The conjugate segment to maintain its lead by 2026
Based on vaccine type, the conjugate segment held the largest share of the global meningococcal vaccine market, accounting for nearly half of the total market share in 2018, and is estimated to maintain its lead by 2026. Moreover, this segment is estimated to grow at the highest CAGR of 10.2% from 2019 to 2026. This is attributed to usage of vaccines in routine immunization schedules, preventive campaigns, and outbreak responses. The research also analyzes segments including polysachharide and subcapsular.
Leading market players
Bio-Med Pvt. Limited
Chongqing Zhifei Biological Products Co., Ltd.
Hualan Biological Engineering Inc.
Incepta Pharmaceuticals Ltd.
Serum Institute of India Pvt. Ltd.
Walvax Biotechnology Co., Ltd.
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North America to maintain its dominance throughout the forecast period
Based on region, North America accounted for the largest market share in terms of revenue in 2018, holding nearly half of the global meningococcal vaccine market, and is estimated to maintain its lead position throughout the forecast period. This is due to surge in prevalence of meningitis disease and ease in availability of meningococcal vaccine products for treatment of the disease. However, Asia-Pacific is expected to portray the largest CAGR of 14.7% from 2019 to 2026, owing to surge in outbreaks of meningococcal diseases and widespread availability of products.
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