The meningococcal vaccines market size in Europe is anticipated to be worth USD 41.76 billion by 2029 from USD 30.77 billion in 2024, growing at a CAGR of 6.3% from 2024 to 2029.
The growing prevalence of meningitis among the European population majorly drives the growth of the Europe meningococcal vaccines market. According to a survey conducted in 2018, there were over 3000 confirmed cases and 300 fatalities due to meningococcal diseases in the European Union. Meningitis is characterized by the inflammation of the protective membranes covering the brain and spinal cord, which can be caused by viral or bacterial infections. The growing need for effective vaccines to combat the various bacterial, viral, fungal and parasitic infections that cause meningitis to propel the European market growth.
The rising awareness about the meningococcal vaccine and immunization and an increasing number of awareness programs by public and private organizations contributes to the growth of the Europe meningococcal vaccines market. Europe has witnessed a rise in literacy levels and targeted advertisements promoting vaccination, fostering the European market growth. Infants and children are particularly vulnerable to meningitis, with bacterial strains such as E. coli and group B streptococcus being prominent causes in infants, while older children are susceptible to bacteria such as pneumococcus and Neisseria meningitidis. Common symptoms include fever, headache, confusion, drowsiness, and skin rashes. To mitigate these risks, meningococcal vaccines are administered to children and infants as a preventive measure against infections.
The growing number of initiatives and awareness programs for meningitis prevention by the governmental organizations in Europe, rising literacy levels and improved knowledge about vaccination, growing focus on immunization and disease prevention by healthcare organizations and increasing number of advancements in the manufacturing of meningococcal vaccines drive the European market growth. The growing number of R&D activities for the development of new vaccine formulations, expansion of manufacturing facilities for increased production capacity, rising demand for combination vaccines for enhanced protection and supportive government policies and regulations promoting vaccination and disease control further fuel the growth rate of the European meningococcal vaccines market.
Vaccine hesitancy and misinformation about the safety and efficacy of vaccines, lack of access to vaccines in remote or underprivileged areas and high cost of vaccines and affordability issues for certain populations hamper the growth of the European market. Challenges in vaccine distribution and logistics, particularly in rural areas, vaccine shortages or supply chain disruptions impacting availability and stringent regulatory requirements and lengthy approval processes further hinder the market growth in Europe. Poor awareness among healthcare professionals about meningococcal vaccination guidelines, vaccine side effects or adverse events leading to safety concerns and lack of comprehensive national immunization programs and inconsistent vaccination coverage across different regions of Europe inhibits the growth rate of the European market.
Europe accounted for the second largest share of the global market in 2022 and is expected to hold a substantial share of the global market during the forecast period owing to factors such as increasing patient population, government investments and increasing healthcare expenditure. Germany led the market in Europe in 2022 and is likely to continue the lead throughout the forecast period. Factors such as the strong presence of pharmaceutical companies and clinical trial centers contributes significantly to the German market. The UK market is estimated to grow at a healthy CAGR during the forecast period due to the growing manufacturing facilities and availability of vaccines through various channels.
Companies playing a major role in the Europe meningococcal vaccines market are GlaxoSmithKline plc, Pfizer Inc., Sanofi Pasteur, Novartis AG and Serum Institute of India.
Frequently Asked Questions
The growth of the Europe Meningococcal Vaccines Market is primarily driven by factors such as increasing awareness about meningococcal disease, rising government initiatives for vaccination programs, and the growing need for immunization among the population.
Some challenges faced by the Europe Meningococcal Vaccines Market include vaccine hesitancy among certain population groups, the high cost of vaccines, and the need for effective surveillance and response to meningococcal outbreaks.
The Europe Meningococcal Vaccines Market includes several key players such as GlaxoSmithKline plc, Pfizer Inc., Sanofi Pasteur, Novartis AG and Serum Institute of India.
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