Number of pages: 100 | Report Format: PDF | Published date: April 10, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
Report Attribute |
Details |
Market Size Value in 2022 |
US$ 4.22 Billion |
Revenue Forecast in 2031 |
US$ 12.24 Billion |
CAGR |
12.56% |
Base Year For Estimation |
2022 |
Forecast Period |
2023 to 2031 |
Historical Year |
2021 |
Segments Covered |
Treatment Type, Route of Administration, End User, and Region |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global meningococcal meningitis treatment market was valued at US$ 4.22 Billion in 2022 and is expected to register a revenue CAGR of 12.56% to reach US$ 12.24 Billion by 2031.
Meningococcal Meningitis Treatment Market Fundamentals
Meningococcal meningitis is a disease caused by the bacteria Neisseria meningitidis. These diseases are frequently severe, can be fatal, and include infections of the brain and spinal cord lining (meningitis) and circulation. The best defense against meningococcal disease is immunization. Meningococcal meningitis symptoms include fever, headache, stiff neck, and a rash.
The global meningococcal meningitis treatment market revenue is expected to increase gradually during the forecast period. One of the key factors of market revenue expansion is the increasing prevalence of meningococcal meningitis globally. According to the World Health Organization (WHO), meningococcal meningitis is the primary cause of bacterial meningitis worldwide, with around 1.2 million cases reported annually. Furthermore, the availability of new and improved treatments is expected to fuel market revenue expansion. Pharmaceutical companies are substantially investing in researching new antibiotics and vaccines to prevent meningococcal meningitis, which is expected to boost market revenue expansion further.
Increased disease awareness and the availability of sophisticated diagnostic techniques are also expected to fuel the market revenue growth. Furthermore, increased government measures to restrict the spread of meningococcal meningitis through vaccination programs and public awareness campaigns are also expected to drive market revenue share during the forecast period.
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Meningococcal Meningitis Treatment Market Dynamics
The increasing prevalence of meningococcal meningitis is the prominent factor driving the revenue growth of the global meningococcal meningitis treatment market. According to the National Library of Medicine, the global incidence of meningitis is estimated to be 20 per 100,000 people, or approximately 1.2 million; the incidence and causes vary by geographic region. Most epidemics occur in Sub-Saharan Africa. The epidemic of meningococcal meningitis infections in Africa, New Zealand, and Singapore suggests that the infection remains a serious public health issue or a global outbreak. Meningococcal disease can affect anyone; however, the condition is most common in children under the age of one, with a second peak in puberty. Meningococcal meningitis disease is more common in teenagers and young adults aged 16 to 23.
One of the potential trends increasing the global meningococcal meningitis treatment market revenue is the increasing investments by top players in the treatment of meningococcal meningitis. This is due to the disease's high fatality rate and possible outbreaks, particularly in underdeveloped nations with inadequate access to vaccines and healthcare. New therapies and vaccines are significant in controlling the spread of meningococcal meningitis and lowering its worldwide effect. In April 2020, Sanofi Pasteur, Inc. announced the FDA approval of biologics MenQuadfi meningococcal (Groups A, C, Y, W) conjugate vaccine to prevent invasive meningococcal disease in 2 years and older. The approval of this new vaccination in the United States marks a major step forward in the ongoing effort to protect people from meningococcal meningitis.
Collaborations among pharmaceutical companies and non-profit global health organizations are expected to increase the accessibility of vaccines in low-income nations such as Africa. For instance, WHO and PATH collaborated on the Meningitis Vaccine Project. It was founded in 2001 with primary funding provided by the Bill & Melinda Gates Foundation. This collaboration aims to create a vaccine at a low enough cost that it can be used widely across Africa. This was done to ensure that epidemics like the one that killed 25,000 people in 1996-97 would never recur again. Manufacturers in developed countries could not create the vaccine at such a low cost. Instead, the consortium conducted the research. The vaccine was then manufactured at the Serum Institute of India. Currently, NmCV-5 is in phase 3 of clinical trials. The vaccines are considered safe, well-tolerated, and capable of eliciting robust immunological responses against all five serogroups.
However, the high cost of treatment is limiting the revenue growth of the global meningococcal meningitis treatment market. Additionally, a lack of awareness about the disease and its treatment & diagnosis among people in developing countries is also impeding the revenue growth of the global meningococcal meningitis treatment market.
Meningococcal Meningitis Treatment Market Ecosystem
The global meningococcal meningitis treatment market is analyzed from four perspectives: treatment type, route of administration, end-user, and region.
Meningococcal Meningitis Treatment Market by Treatment Type
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Based on treatment type, the global meningococcal meningitis treatment market is segmented into antibiotic therapy and vaccine.
The vaccine segment dominated the global meningococcal meningitis treatment market with the largest revenue share in 2022. The vaccine segment is further sub-segmented into a meningococcal conjugate vaccine, meningococcal polysaccharide vaccine, and combination vaccine. Meningococcal meningitis vaccination is the most effective strategy to reduce the disease's burden and effects by providing long-term protection. The growing public awareness of the necessity of vaccination and government measures to encourage immunization programs are expected to drive the expansion of the meningococcal meningitis treatment market revenue during the forecast period. Moreover, the meningococcal meningitis treatment market revenue growth is expected to be supported by the discovery of novel vaccines with enhanced efficacy and safety characteristics.
However, the antibiotic therapy segment is expected to increase its revenue share during the forecast period. The antibiotic segment is sub-segmented into penicillin, ampicillin, chloramphenicol, and ceftriaxone. This increase can be attributed to the rising prevalence of infectious diseases as well as the increased demand for efficient antibiotics. The development of novel and enhanced antibiotics is expected to aid in expanding the antibiotic segment. Furthermore, rising government initiatives for developing healthcare infrastructure and expanding public awareness about the need for early detection and treatment of infectious diseases are expected to increase the demand for antibiotic therapy. Because of the high prevalence of infectious diseases and the presence of a big patient pool, the Asia Pacific region is expected to see significant growth in market revenue.
Meningococcal Meningitis Treatment Market by Route of Administration
Based on the route of administration, the global meningococcal meningitis treatment market is segmented into injectables and oral.
Injectables dominated the global meningococcal meningitis treatment market with the highest revenue share in 2022. The segment is expected to continue its dominance during the forecast period due to its high efficacy and quick onset of action. Injectable antibiotics can quickly reach therapeutic levels in the bloodstream, effectively treating meningococcal meningitis. Additionally, injectables allow for precise dosing and can be administered in a hospital or outpatient setting. Moreover, the rising demand for combination vaccines and the development of novel vaccines with improved efficacy and safety profiles are expected to fuel market revenue growth.
Meningococcal Meningitis Treatment Market by Distribution Channel
Based on the distribution channel, the global meningococcal meningitis treatment market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacies segment accounts for the majority of the global meningococcal meningitis treatment market revenue share. This significant share of revenue can be attributed to hospital pharmacies being the primary point of care for patients suffering from meningococcal meningitis. Additionally, hospital pharmacies often have a wider range of medications and resources than retail or online pharmacies. Furthermore, hospital pharmacies employ qualified personnel to make individualized medicine and dosage recommendations depending on the patient's condition and medical history. This ensures that patients receive the best therapy possible for their meningococcal meningitis, which can improve their chances of recovery.
Meningococcal Meningitis Treatment Market by Region
Based on the region, the global meningococcal meningitis treatment market is segmented into North America, Europe, Asia Pacific, Latin America, & the Middle East & Africa.
North America accounts for the majority of the global meningococcal meningitis treatment market revenue share. The prevalence of meningococcal meningitis acts as the key factor in increasing North America's meningococcal meningitis treatment market. In the United States, the annual incidence is 1.33 cases per 100,000 people. Furthermore, North America's modern healthcare infrastructure and advantageous reimbursement policies assist the region's revenue growth in the meningococcal meningitis treatment market.
During the forecast period, it is expected that the meningococcal meningitis treatment market in Europe will expand due to the region's favorable medical policies and strong healthcare infrastructure. In addition, government initiatives and healthcare policies focused on minimizing the prevalence of meningococcal meningitis are also fueling market revenue expansion. Routine vaccination against meningococcal meningitis is now included in certain nations' national immunization programs.
Asia Pacific is expected to be the fastest-growing geographic region in terms of revenue share in the global meningococcal meningitis treatment market during the forecast period. This sizable share of revenue is attributed to the increasing prevalence of meningococcal meningitis in the region and the rising demand for effective treatment options. The development of advanced healthcare infrastructure and the growing awareness about the disease is also expected to contribute to market revenue growth. Furthermore, the presence of key market players in the region and the ongoing research and development activities for developing new treatment options are expected to drive market revenue growth in the Asia Pacific.
Competitive Landscape of the Global Meningococcal Meningitis Treatment Market
The meningococcal meningitis treatment market is highly competitive due to the presence of several established players and the emergence of new entrants. The increasing prevalence of meningococcal meningitis worldwide has led to a surge in demand for effective treatments, further intensifying the competition in the market.
The prominent companies operating in the global meningococcal meningitis treatment market with the largest revenue share are:
Strategic Developments in Meningococcal Meningitis Treatment Market
The vaccine segment has the largest revenue share in the global meningococcal meningitis treatment market.
The global meningococcal meningitis treatment market is expected to grow at a revenue CAGR of 12.56% during the forecast period.
Baxter International Inc., Merck & Co., Medtronic Inc., and Sanofi SA are a few key players operating in the global meningococcal meningitis treatment market.
During the forecast period, the Asia Pacific region is expected to observe the highest global meningococcal meningitis treatment market revenue growth.
The high cost of treatment and lack of awareness can limit the revenue growth of the global meningococcal meningitis treatment market.
*Insights on financial performance are subject to the availability of information in the public domain