Meningitis is an inflammation of the meninges, which cover the brain and spinal cord and are made up of dura matter. Meningitis can cause a life-threatening condition called septicaemia (blood poisoning) as well as long-term brain damage. It is most commonly caused by infections, certain injuries, drugs and cancer. Meningitis treatment basically refers to the all the procedures related to treat meningitis.
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The market is expected to experience tremendous growth within the forecast period owing to the growing meningitis cases amongst young adults and teenagers as 50% of bacterial meningitis cases occur in children under the age of five, as well as between the ages of 15-24. Moreover, given advances in technological platforms, the global market for meningitis treatment appears to be promising in the near future.
Data Bridge Market Research analyses that the meningitis treatment market was valued at USD 170 million in 2021 and is expected to reach USD 238.08 million by 2029, registering a CAGR of 4.30% during the forecast period of 2022-2029. The “viral” accounts for the largest type segment in the meningitis treatment market within the forecasted period.
Growing Cases of Meningitis
The rising cases of meningitis across the globe will result in the expansion of the growth rate of the treatment market. Moreover, increased efforts to tackle the disease, such as efforts to minimize the disease's incidence and better control the disease accelerate the growth of the market.
Moreover, the rising demand for point of care diagnostic services, growing prevalence of pathogenic infections and the rise in government incentives and benefits through special designation are also the growth determinants which bolster the growth of the market. Furthermore, the rising initiatives to spread awareness regarding the disease as well as the continued expansion of the medical device industry will positively impact the meningitis treatment market's growth rate.
North America dominates the meningitis treatment market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing incidence of meningitis and presence of marketed players in the same geography in this region.
Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the increase awareness program about meningitis and less stringent regulation of drugs in the region.
Some of the major players operating in the meningitis treatment market are Bausch Health Companies Inc., Mylan N.V., Fresenius Kabi AG, Teva Pharmaceutical Industries Ltd, Zydus Cadila, Aurobindo Pharma, Beximco Pharmaceuticals Ltd, Hikma Pharmaceuticals PLC, Astral SteriTech Pvt. Ltd, Lupin, Novartis AG, MATINAS BIOPHARMA HOLDINGS, INC., and Pfizer Inc., among others.
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