The Latin America, Middle East and Africa Meningococcal Vaccine Market would witness market growth of 9.5% CAGR during the forecast period (2020-2026). The access to meningococcal vaccines is increasing in developing countries including Africa. This is mainly due to the increasing support of global organizations assisting vaccine procurement, prequalification, and funding is strengthening the lucrativeness of the market. Manufacturers are aiming at these under-penetrated markets to propel their growth in the meningococcal market.
Manufacturers are focused to incorporate advanced technologies in the manufacturing processes in order to develop new and more effective vaccines. For example, GlaxoSmithKline Plc. used new formulations, like a fully liquid production of a tetravalent vaccine for MenACWY and Menveo. Researchers nowadays are focused on the development of a single vaccine capable of tackling all five serogroups, A, B, C, W, and Y of meningococcus and it is the key area of focus for many vaccine manufacturing companies.
The meningococcal vaccine market is likely to experience substantial market growth in the coming years owing to surge in the adoption of immunization programs in several countries across the globe. In addition to it, the outbreak of meningococcal in several countries has resulted in increased demand for meningococcal vaccines, this, in turn, improves the growth of the market. However, in most of the countries, stringent regulations have been imposed for the approval of novel vaccines and it is expected to hinder the market growth. In contrast to this, increasing R&D for meningococcal vaccines and an increase in healthcare spending across the globe provide significant growth in lucrative opportunities for the market players of the meningococcal vaccine.
Based on Brand, the market is segmented into Bexsero, Trumenba, Nimenrix, Menactra, Menveo and Other Brands. Based on Type, the market is segmented into Bivalent, Quadrivalent and Other Types. Based on Age Group, the market is segmented into Infants (0 to 2 years) and Children (2 years & above). Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Meningococcal Vaccine Market in LAMEA is expected to register a CAGR of 9.5% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include GlaxoSmithKline PLC (GSK), Pfizer, Inc., Sanofi S.A., Walvax Biotechnology Co., Ltd., Bio-Manguinhos (Oswaldo Cruz Foundation), Bio-Med Pvt. Ltd., Chongqing Zhifei Biological Products Co., Ltd., Hualan Biological Engineering, Inc., Incepta Pharmaceuticals Ltd. and Serum Institute of India Pvt. Ltd. (Poonawalla Investments & Industries Pvt. Ltd.)
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