Meningococcal disease, a largely life-threatening disease caused by the Neisseria meningitides bacteria, infects the thin protective lining that surrounds the spinal cord and the brain, known medically as the meninges. One of the greater complications surrounding meningococcal disease is that it can occur through five of the several sero-groups that are simply present in the human body in a dormant state. Environmental or immunogenic factors can revive these bacteria and cause the disease within a person. Additionally, this disease is contagious and can prove to be fatal for most patients within as short as 24 hours of contracting the disease. There are several factors that influence the presence of sero-groups within a person, ranging from location, age, time, and surroundings.
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The global meningococcal vaccines market is expected to reach US$4.45 bn by the end of 2022, after exhibiting a highly positive CAGR of 12.4% within a forecast period from 2014 to 2022, in terms of revenue. The market’s revenue was calculated at US$1.53 bn by the end of 2013. Several reasons are key to the current rate at which the global meningococcal vaccines market, and the answer to the following questions can help ascertain the market’s future, as answered by Transparency Market Research:
What Effects are Players in the Global Meningococcal Vaccines Market Looking Forward to?
Public-private partnerships have arguably been the leading drivers for the global meningococcal vaccines market over the recent years. Key partnerships have sprung up in the past decade that have added massively to support the development as well as production rates of vaccines at costs much lower than without support. This falls in place considering the nature of emergency when it comes to ridding the possibilities of a citizen stricken down by the disease.
Have Partnerships in the Medical Sector Quelled the Shortage of Meningococcal Vaccines?
The FDA also works in favor of the global meningococcal vaccines market in terms of approval rates. One of the more recent approvals was for Bexsero in January 2015. The situation is not, however, as bright for everyone. Australian citizens, for instance, are fighting for adequate supplies of Bexsero and a lot of people may not be able to immunize themselves from the deadly disease till 2017. The vaccine currently is free of charge under the National Immunization Program for the country. Suppliers are driving up production rates through increased investments from private players in order to meet with the growing demand.
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Are Developments in the Global Meningococcal Vaccines Market to Remain High in Developed Economies?
The state of a region’s medical infrastructure heavily influences the rate of developments it will run within the global meningococcal vaccines market. Accordingly, developed economies from North America and Europe have always played a key role in the market when it comes to research and development as well as large-scale distribution and usage. North America led the global meningococcal vaccines market in terms of revenue generated till now, and is expected to continue doing so for the coming years. The government support for research and development efforts in this region is very high and so is the awareness on the matter among civilians. This awareness has led to a greater volume of diagnostics and vaccination procedures against the disease.
At the same time Asia Pacific is expected to be a strong growth vector for globally important vendors in the global meningococcal vaccines market over the coming years. This region is showing a speedy development rate of medical infrastructure along with a greater focus on life-threatening diseases and their vaccination.