Meningococcal Vaccines Market Business Prospect Forecast To 2027
Precision Business Insights published a research report on "Global Meningococcal Vaccines Market by Type (Meningococcal Conjugate Vaccines, Meningococcal Polysaccharide Vaccine, Serogroup B Meningococcal Vaccine), By End user (Hospitals, Clinic, Others), and By Geography- Global/Region/Country Forecast to 2027".
The global
meningococcal vaccines market was valued USD 3.2 billion in the year 2020 and
anticipated to value at USD 5.81 billion till 2027 witnessing a CAGR rate of 8.9%
during the forecast period 2021-2027.
Meningococcal disease is a fatal disease caused due to bacteria named Neisseria
Meningitides. It causes possible infection in the meninges, the thin layers of
connective tissues that enclose brain and spinal cord. A few of the common
symptoms of this disease are pneumonia, bacteraemia and meningitis related with
high fever, vomiting, rashes, nausea, lethargy and stiffness. Moreover, growing
R&D investments by different key players, increasing consciousness about
the seriousness of diseases amid people and newly introduced advanced vaccines
are anticipated to impel the meningococcal vaccines market growth. Meningococcal vaccine market is anticipated to witness
huge growth because of the entry of new players into the market during the
estimation period. But, high
price of vaccines, dearth of consciousness and unfavourable regulatory
conditions are restraining the global meningococcal vaccines market growth.
View detailed report description here https://precisionbusinessinsights.com/market-reports/meningococcal-vaccines-market/
On the basis of regional
analysis, Global meningococcal vaccines market is classified into major regions
such as North America, Latin America, Middle East, Europe, Africa and Asia
Pacific. Among all the regions, North America region is anticipated to dominate
the revenue share in the market due to the increasing cases of meningococcal
illness amid population and growing population of the region. U.S.
meningococcal vaccines market obtained huge revenue share. France, Germany and
UK in Europe obtained the huge share due to the well established healthcare
infrastructure and increase in the initiatives taken by government. Asia
Pacific is anticipated to witness considerable growth due to the different
immunization initiatives taken by the government to destroy meningococcal
disease in Asia Pacific, increasing consciousness amid customers and growing disposable
income.
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There are some major players
operating in the global meningococcal vaccines market,
which include GlaxoSmithKline plc. (UK), JN-International
Medical Corporation (U.S.), Novartis International AG (Switzerland), Sanofi
(France), Pfizer, Inc. (U.S.) and Baxter International, Inc. (U.S.). Key
players in the market are majorly focusing on adopting some market growth
strategies such as mergers, new product approvals, acquisitions and
collaborations to retain their position in the market and increase the product
portfolio. Key players also focus on launching novel products into the market
to expand the business and generate huge revenues. Pfizer got U.S. FDA approval
in October 2014 for its TRUMENBA (meningococcal group B vaccine) for preventing
meningococcal disease.
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