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Increasing Awareness About Vaccination and Immunization Programs to Create Opportunities for the Global Meningococcal Vaccine Market Until 2020, Reports TechnavioTechnavio analysts forecast the global meningococcal vaccine market to grow at a CAGR of approximately 13% during the forecast period, according to their latest report. The research study covers the present scenario and growth prospects of the global meningococcal vaccine market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of vaccines used to prevent meningococcal infections. Technavio healthcare and life sciences analysts highlight the following five factors that are contributing to the growth of the global meningococcal vaccine market:
Increase in awareness about vaccination and immunization programs The WHO conducted a program in over 180 countries in 2013 under the slogan 'Protect your world - get vaccinated'. In 2015, the organization celebrated the European Immunization Week from April 22nd-26th. Every year, the last week of April is observed as the World Immunization Week as per the WHO mandate. In the US, the Association of American Physicians (AAP) and the National Institute of Agricultural Marketing (NIAM) helped increase vaccination coverage in the region. The Amanda Young Foundation is dedicated to reducing the number of deaths from meningococcal disease in Western Australia by organizing activities such as summits and fundraising events to raise awareness about the disease. The foundation also provides funds to support new and ongoing research on the disease. "Globally, April 24, 2015 was celebrated as the World Meningitis Day to increase awareness about the disease and prophylactic vaccines. With such vents, market players in vaccines and healthcare professionals strive to increase awareness levels for meningococcal disease and treatment available, resulting in the increased consumption of vaccines in the market, which is expected to continue during the forecast period," states Imran Mushtaq, an industry expert for vaccines research from Technavio. Designated as a traveler's vaccine Governments worldwide have mandated immunization of travelers visiting certain countries with meningococcal vaccines, to prevent the spread of infectious agents. The meningitis belt, which extends from Senegal in West Africa to Ethiopia in East Africa, has the highest risk of developing this disease. Hence, anyone travelling to these areas is vaccinated or revaccinated as per government rules to prevent undue transmission of meningitis. Instances of meningococcal meningitis outbreaks have also occurred during the Hajj pilgrimage to Saudi Arabia. As a result, the Saudi Arabian government require a certificate of meningococcal vaccination from visitors who visit the region for Umrah or Hajj. Such preventive measures by governments worldwide has increased the consumption of vaccines in disease-prone regions. Inclusion in national immunization schedule "The inclusion of meningococcal vaccination in the National Immunisation Program (NIP) of various countries will bring about market growth. Inclusion of vaccination in NIP increases the accessibility of meningococcal vaccines by low-income families. Governments of various countries conduct routine immunization schedules to ensure the availability of these vaccines, which promotes their consumption at a national level," adds Imran. Recommended vaccines and dosages are regularly updated to comply with prevalent serogroups of infectious agents. For instance, the CDC has its own immunization schedule for US citizens. Similarly, the US, the UK, and the Indian government are funding such vaccination drives for their citizens. The government of Australia has included Menitorix (combined MenC and Hib vaccine) to NIPs to replace MenCCV and Hib vaccination. This, has increased the effectiveness of administered meningococcal vaccines, thereby increasing the demand for the product. This increases the market sales for these vaccines. Browse Related Reports:
Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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