Global Meningococcal Vaccines Market
Dublin, Sept. 23, 2022 (GLOBE NEWSWIRE) -- The "Meningococcal Vaccines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global meningococcal vaccines market size reached US$ 3.0 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 5.1 Billion by 2027, exhibiting a CAGR of 9.25% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Meningococcal vaccine refers to a biological substance administered for the prevention of meningitis, which is a contagious infection of the membranes surrounding the spinal cord and the brain. The three main kinds of meningococcal vaccines include conjugate, polysaccharide and subcapsular meningococcal vaccines. They are administered to infants, children and adults to immunize them against the invasive disease and target meningococcal bacteria A, B, C, W-135 and Y. Once the vaccine is administered, antibodies are formed to fight the bacteria and create an immune response to prevent the infection in the future.
The increasing prevalence of the meningococcal disease among young children and adolescents across the globe represents one of the key factors driving the growth of the market. Furthermore, the rising health consciousness among the masses and the adoption of routine immunization are providing a thrust to the market growth. Meningococcal vaccine aids in preventing the disease and minimizing the long-term effects, such as temporary or permanent deafness, loss of vision and motor skills, seizure and neurological damage.
In line with this, governments of both developed and emerging economies are launching extensive public health programs while emphasizing on the immunization of special risk groups, such as tourists and military personnel, to contain the risks of infections. Additionally, various product innovations, such as the development of ready-to-use liquid formulations that do not require reconstitution, are also contributing to the market growth. Other factors, including extensive research and development (R&D) activities, along with improvements in the healthcare infrastructure, are anticipated to drive the market further.
Key Market Segmentation
Breakup by Vaccine Type:
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Conjugate
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Polysaccharide
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Subcapsular
Breakup by Composition:
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Mono Vaccines
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Combination Vaccines