Meningitis Vaccine Market Growth Analysis By Size, Share, Demand, and Opportunity During 2023
The global meningitis vaccine market is segmented into vaccines such as polysaccharide vaccines, conjugate vaccines and combination vaccines. Among these segments, combination vaccine is expected to grow at the highest CAGR in the overall meningitis vaccine market during the forecast period. Increasing utilization of combination vaccines for the prevention of disease in infants is the major factor behind the growth of the combination meningitis vaccine segment. Furthermore, newly developed combination vaccines with higher efficiency are expected to augment the growth of the combination meningitis vaccine market.
The global meningitis vaccine market is expected to
flourish at CAGRof 14.5% over the forecast period. Moreover, the
global meningitis vaccine market is anticipated to garner USD 5.2 Billion by
the end of 2023. Factors such as rising incidents of meningitis in infants and
the introduction of cost-effective meningitis vaccines are some of the major
factors behind the growth of the meningitis vaccine market.
North America
dominated the overall market of meningitis vaccines and is expected to continue
its dominance over the forecast period. This can be attributed to favorable
government initiatives and adequate awareness of meningitis disease in the
region. Further, the development and availability of advanced meningitis
vaccines by key manufacturers such as Novartis and Pfizerisexpected to
positively impact the growth of the meningitis vaccine market in the North
American region. The Asia Pacific is anticipated to witness lucrative growth
over the forecast period. Factors such as rising awareness towards meningitis
disease and penetration of low-cost meningitis vaccines in the region are
likely to impel the growth of the meningitis vaccine market.
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Increased Prevalence of Disease
The high prevalence of
meningitis in young infants in Africa and other regions is expected to impel
the demand for meningitis vaccines in the upcoming years. Moreover, various
awareness programs conducted by healthcare organizations across the globe are
anticipated to foster the growth of the meningitis vaccine market.
Development of New Advanced Formulas
The development of new
vaccines such as meningitis B vaccines is expected to be the major driving
factor for the meningitis vaccine market over the forecast period.Apart from
this, increasing concern regarding the preventive healthcare of infants is
anticipated to foster the growth ofmeningitis vaccine market.
Although, lack of
awareness in undeveloped nations is likely to inhibit the growth of the
globalmeningitis vaccinemarket in the near future.
Further, for the
in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and
Porter’s five force model.
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This report also
provides the existing competitive scenario of some of the key players of the
globalmeningitis vaccinemarket which includes company profiling
ofGlaxoSmithKline plc,Baxter International, Pfizer Inc., Sanofi Pasteur SA,
Merck & Co., Inc., Zhejiang Tianyuan Bio-Pharmaceutical Co. Ltd., Beijing Tiantan
Biological, Novartis AG and Big Pharma. The profiling enfolds key information
of the companies which encompasses business overview, products and services,
key financials and recent news and developments. On the whole, the report
depicts detailed overview of the globalmeningitis vaccinemarket that will help
industry consultants, equipment manufacturers, existing players searching for
expansion opportunities, new players searching possibilities and other
stakeholders to align their market centric strategies according to the ongoing
and expected trends in the future.
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