Meningococcal Meningitis Identified as a Public Health Concern fuels Meningococcal Vaccines Market, Almost 50% of Cases Reported from Children under the Age of 5 Years, TMR

- Increasing vaccination knowledge as a consequence of public education and awareness campaigns has led in an increase in demand rate.

- Public health concerns have risen as a result of the rising occurrences of meningococcal meningitis. Children under the age of 5 years have been shown to be more vulnerable to the condition.

ALBANY, NY, June 22, 2021 /PRNewswire/ -- The growing prevalence of meningitis is projected to drive up demand for meningitis vaccination, resulting in rapid expansion of the global meningococcal vaccines market. Meningitis can be triggered by a multitude of microorganisms, but bacterial meningitis has the biggest global burden. According to the National Meningitis Association (NMA), around 600 to 1000 people in the US acquire meningococcal illness each year. In addition, to that, young adults, adolescents, and preteens account for 21% of meningococcal illness cases. As a result, increasing meningitis incidences are likely to drive up demand for meningitis vaccinations.

The Centers for Disease Control and Prevention (CDC) estimates that around 1.2 million incidences of bacterial meningitis are likely to occur annually across the globe. The global meningococcal vaccines market is projected to rise due to increased government as well as regulatory measures to fight the surging frequency of meningitis. Additionally, the existences of non-profit organizations that provide information and support to patients, invest in research projects, and provide training to various healthcare experts is expected to expand growth of the market.

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The global meningococcal vaccines market is expected to develop at a remarkable growth rate of 12% CAGR during the tenure of projection, from 2018 to 2026. Children under the age of 5 years have been discovered to be more vulnerable to the illness. As a result, kids in the aforesaid age bracket are estimated to account for around half of all reported cases. Adolescents between the ages of 15 years to 19 years have also been proven to be susceptible to the condition. Given the prevalence of meningococcal meningitis in the young population, key players in the meningococcal vaccination landscape are concentrating on the drug development process. Such efforts are made to meet the needs of the population whilst also reducing the disease's rate of transmission.

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Key Findings of Market Report

• Government Initiatives to Pave Way for Rapid Growth of the Market

Increased demand for vaccinations has come from augmented awareness about vaccinations, thanks to public awareness initiatives and education. Various non-profit groups, government agencies, and vaccine manufacturing corporations are leading the marketing and awareness initiatives. Vaccination against bacterial meningitis is being given to a large number of people, which is estimated to work in favour of the global meningococcal vaccine market is over the timeframe of assessment, from 2018 to 2026.

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Government initiatives, including enactment of laws enforcing vaccination requirements for school going children up till a certain age, are also anticipated to promote market development. In addition, governments are enacting tight regulations for Hajj pilgrims and sub-Saharan African travellers have led to non-profit groups increasing their demand for these vaccinations. This factor is expected to contribute to the expansion of the global meningococcal vaccine market in the forthcoming years.

• Driven by High Mortality Rate, Research and Development Activities to Gather Momentum

The high rate of death from bacterial infections in poorer nations, in particular, has forced medical experts to create effective treatment approaches. Medical experts have recently produced vaccinations that are also able to protect the body for two years against meningococcal diseases. The global meningococcal vaccines market is anticipated to rise considerably over the next decade. Meningococcal disease may potentially cause mortality in extreme situations. This has also led doctors and scientists to invest in state-of-the-art research tools to produce effective vaccinations. In the following years, counter-mechanisms for the attack of bacterial diseases are the forefront of the medical sector. The healthcare industry's drive to deliver premium services to under-served populations is likely to support expansion of the market in the years to come.

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Meningococcal Vaccines Market: Growth Drivers

• If left untreated, bacterial infections can develop into serious illnesses. As a result, developing rapid and cost-effective treatment treatments for bacterial infections is critical.
• Interventions from the government, such as the enactment of laws to enforce immunisation rules for school children under a certain age, are expected to drive market growth.

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Meningococcal Vaccines Market: Key Competitors

• Baxter International Inc.
• JN-International Medical Corporation
• GlaxoSmithKline plc
• Novartis International
• Serum Institute of India Ltd.
• JN-International Medical Corporation

Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:

Vaccines Market: https://www.transparencymarketresearch.com/global-vaccine-market.html

Dengue Vaccines Market: https://www.transparencymarketresearch.com/dengue-vaccine-market.html

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