As cited by the research report titled ‘Global Meningococcal Vaccine Market by Serogroup (MenACWY, MenB/BC, MenC, MenAC, and MenA), Vaccine Type (Conjugate, Polysaccharide, and Subcapsular), and End User (Pediatric, Adults, and Travelers) and Regional Forecasting 2020-2027’, available with Market Study Report, global meningococcal vaccine market was worth USD 2.11 billion in 2019 and is projected to grow with a CAGR of 9.5% over 2020-2027 to be appraised at USD 4.38 billion by the end of study duration.
 

Rise in immunization programs across the globe to control increasing incidence of meningococcal disease is primarily driving the global meningococcal vaccine market growth. Moreover, rising efforts towards research & development is augmenting the market outlook.
 

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According to World Health Organization, meningococcal meningitis cases are found worldwide but the burden of this disease is the largest in the areas of sub Saharan Africa which spreads from Senegal in the west to Ethiopia in the east, with over 30000 cases being recorded each year in this belt.
 

For those unaware, meningococcal vaccine is used in invasive meningococcal disease. The ailment is a bacterial infection involving many diseases like bacteremia (meningococcemia), meningitis, and bacteremia pneumonia caused by Neisseria meningitidis, a gram-negative coccus. It is rare and is associated with high mortality risks of up to 50% and can commonly lead to severe complications if left unchecked.
 

However, long durations required for the production of vaccines, coupled with their high costs are acting as restraints for the growth of worldwide meningococcal vaccine market.
 

Based on vaccine serotype, global meningococcal vaccine industry is segmented into MenAC, MenA, MenC, MenB & Manic, and MenACWY. Speaking of the vaccine type, the marketplace is divided into subcapsular, polysaccharide, and conjugate. Moving on to end users, the industry space is classified into travelers, adult, and pediatric.
 

Geographically, Asia Pacific, Europe, North America, and Latin America are major revenue generators for worldwide meningococcal vaccine market. Of these, North America and Europe are projected to be major growth hubs for the market over 2020-2027, owing to increasing incidence of meningococcal diseases, awareness regarding the disease, and bulk availability of vaccines. Whereas, Asia Pacific market is poised to grow lucratively over the forecast period.
 

Key players in global meningococcal vaccine industry include Walvax Biotechnology Co. Ltd., Serum iInstitute of India Pvt. Ltd, Sanofi S.A., Pfizer Inc., Incepta Pharmaceuticals Limited, Hualan Biological Engineering Inc., GlaxoSmithKline plc, Chongqing Zhifei Biological Products Co. Ltd., Bio-Med (P) Limited, and Institute of Technology in Immunobiology (Bio-Manguinhos).