At a CAGR of 14.5%|Global Meningitis Vaccine Market Anticipated to
Garner USD 5.2 Billion by 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