Increase in research and development for vaccine technology

miller peet

Aug 4

Rise in outbreaks of meningococcal disease, increase in immunization programs across the world, and surge in research and development for vaccine technology drive the global meningococcal vaccine market. However, long duration required for vaccine production and high cost of vaccine development hinder the market growth. On the other hand, increase in healthcare expenditure and untapped potential in emerging economies create new opportunities in the coming years.

The global meningococcal vaccine market size was valued at $1,935.5 million in 2018, and is projected to reach $4,192.6 million by 2026, registering a CAGR of 9.5% from 2019 to 2026.

Increase in outbreaks of meningococcal disease, surge in immunization programs across the globe, and rise in research and development for vaccine technology propel the growth of the global meningococcal vaccine market. However, longer timelines required for vaccine production and high cost associated with the development of vaccines impede the market growth. On the other hand, rise in healthcare spending, increase in research and development for meningococcal vaccines, and growing opportunities in the emerging markets offer lucrative opportunities to the market players.

Covid-19 scenario

Due to lockdown, immunization programs will come to a halt and program schedules will be changed in various countries.
Research and development activities for vaccine technology will be limited, as researchers need to stay at home during the lockdown.
Meningococcal vaccine is used as a placebo effect in the Covid-19 vaccine trial conducted at the University of Oxford.

Based on region, North America accounted for the highest share, holding nearly half of the total share in 2018, and is estimated to maintain its dominant share during the forecast period. On the other hand, the Asia-Pacific region is also anticipated to manifest the fastest CAGR of 14.7% from 2019 to 2026. The market also analyses regions including Europe, North America, and LAMEA.

The key market players analyzed in the report involves Chongqing Zhifei Biological Products Co., Ltd., GlaxoSmithKline Plc, Hualan Biological Engineering Inc., Incepta Pharmaceuticals Ltd., Pfizer Inc., Sanofi S.A., Serum Institute of India Pvt. Ltd, Walvax Biotechnology Co., Ltd., Bio-Manguinhos, and Bio-Med Pvt. Limited.

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