Meningococcal Vaccines Market to touch US$ 9 billion by 2026; TMR
Meningococcal disease is caused by bacteria Neisseria meningitides and occurs sporadically throughout the world. The meningococcal vaccines market exists on account of need for preventing the incidence of this disease. Inflammation in the membranes of the brain and spinal cord is characteristic of meningitis. Bacterial infections, viruses and some medications are responsible for this kind of inflammation.
Key driving factors of the global meningococcal vaccines market are:
The level of harm caused by meningococcal meningitis is not apparent from 7 out of 10 parents (around 69%). The most prevalent way for kids to become meningococcal is known to one in five parents (about 21 percent).
This lack of awareness is a major cause of the low demand for meningococcal vaccines, and the worldwide meningococcal vaccine industry is anticipated to be negatively impacting its income development. Community awareness of the disease and the significance of prescription vaccines needs to be initiated to limit the worldwide spread of meningococcal meningitis. In cooperation with hospitals and clinics, this activity can be launched with the goal of educating parents, and creating the consciousness essential to promote the acceptance of meningococcal vaccines.
The World Health Organization promotes approaches for the prevention of meningitis in this regard and is hopeful that this vaccine was introduced in 26 nations in Africa that suffer from. This would offer possibilities for development in this industry.
In addition, in conjunction with Sanofi Pasteur in the Voices of Meningitis campaign, the National Association of School Nurses is working. It is an initiative for government health that helps to avoid meningococcal disease infection for kids and adolescents.
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North America leads the market
North America is projected to be a highly lucrative market for meningococcal vaccines during the forecast period. The region held major share of the global meningococcal vaccines market due to high rate of adoption of advanced products and rise in penetration of new entrants with novel technology. The U.S. held a major share of the market in North America as well as globally. The country is a major innovation hub, where the world’s leading companies conduct research and development.
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Sanofi S.A., Novartis International, and GSK Plc. to lead market
The report also provides profiles of leading players operating in the global meningococcal vaccines market. They include Sanofi SA, Novartis International, GlaxoSmithKline plc, Pfizer Inc., Nuron Biotech, JN-International Medical Corporation, Serum Institute of India Ltd., Baxter International, and Biomed Pvt. Ltd. Increase in mergers & acquisitions, strategic collaborations, and new product launches are expected to drive the global market during the forecast period. Additionally, strong product portfolio, high brand recognition, and strong geographic presence are expected to boost the market during the forecast period.
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