Mar 18, 2020, 03:25 EST
New York, United States, Mar 18, 2020, 03:25 /Comserve / -- Global meningitis vaccine market is expected to flourish at a CAGR of 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.
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 highest CAGR in 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 combination meningitis vaccine segment. Furthermore, newly developed combination vaccines with higher efficiency are expected to augment the growth of combination meningitis vaccine market.
Global meningitis vaccine market is expected to flourish at a CAGR of 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 introduction of costeffective meningitis vaccines are some of the major factors behind the growth of meningitis vaccine market.
North America dominated the overall market of meningitis vaccine and is expected to continue its dominance over the forecast period. This can be attributed to favorable government initiatives and adequate awareness towards meningitis disease in the region. Further, development and availability of advanced meningitis vaccines by key manufacturers such as Novartis and Pfizer is expected to positively impact the growth of the meningitis vaccine market in North America region. 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 vaccine in the region are likely to impel the growth of meningitis vaccine market.
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Increased Prevalence of Disease
High prevalence of meningitis in young infants in Africa and other regions is expected to impel the demand for meningitis vaccine in the upcoming years. Moreover, various awareness programs conducted by healthcare organization across the globe are anticipated to foster the growth of meningitis vaccine market.
Development of New Advanced Formulas
Development of new vaccines such as meningitis B vaccines is expected to be the major driving factor for meningitis vaccine market over the forecast period. Apart from this, increasing concern regarding the preventive healthcare of infants is anticipated to foster the growth of meningitis vaccine market.
Although, lack of awareness in undeveloped nations is likely to inhibit the growth of the global meningitis vaccine market 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 global meningitis vaccine market which includes company profiling of GlaxoSmithKline 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 global meningitis vaccine market 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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