The global pediatric vaccine market is set for unprecedented growth, with a valuation of US$ 54,130.1 million in 2023, projected to expand at a robust CAGR of 13.1%, reaching US$ 184,706.7 million by 2033. This significant growth underscores the increasing demand for immunization programs and advancements in pediatric healthcare worldwide.
The rising focus on preventing infectious diseases in children, coupled with government initiatives and public health campaigns, is driving the pediatric vaccine market. Additionally, advancements in vaccine technologies, such as the development of combination vaccines and mRNA-based formulations, are further fueling market expansion.
Growing global awareness about the importance of vaccination, combined with increasing investments in healthcare infrastructure, is also contributing to the rapid adoption of pediatric vaccines. Emerging economies, in particular, are witnessing substantial growth due to improved access to vaccines and heightened immunization coverage.
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Key Takeaways:
- The pediatric vaccine market is projected to grow from US$ 54,130.1 million in 2023 to US$ 184,706.7 million by 2033, at a CAGR of 13.1%.
- Increasing immunization programs and rising awareness of childhood disease prevention are driving growth.
- Innovations in vaccine development, including combination and mRNA vaccines, are accelerating market expansion.
- Emerging economies are experiencing significant growth due to improved healthcare access and infrastructure.
With the critical role of vaccines in safeguarding children’s health, the pediatric vaccine market is poised for remarkable expansion, ensuring better immunization coverage and improved global health outcomes over the next decade.
Growth Drivers
- Increased Awareness of Vaccination: Growing awareness among parents and caregivers regarding the importance of immunization for children is driving demand for pediatric vaccines.
- Rising Incidence of Infectious Diseases: The prevalence of infectious diseases such as measles, mumps, and rubella necessitates effective vaccination programs, further boosting market growth.
- Government Initiatives and Funding: Expanding immunization programs and increased government funding aimed at improving vaccination coverage are supporting the market’s expansion.
- Technological Advancements in Vaccine Development: Innovations in vaccine technology, including the development of combination vaccines that enhance efficacy and safety, are attracting more consumers to vaccination programs.
Regional Insights
- North America is expected to dominate the pediatric vaccine market due to established healthcare infrastructure, high immunization rates, and strong government support for vaccination initiatives.
- Emerging markets in Asia-Pacific are also anticipated to experience significant growth as healthcare access improves and awareness of vaccination benefits increases.
Market Trends
- The market is witnessing a shift towards multivalent vaccines that protect against multiple diseases with a single shot, improving convenience for patients and healthcare providers.
- There is an increasing focus on developing new vaccines tailored for specific populations, including those with chronic conditions.
Key Trends Influencing Paediatric Vaccines Market
- Financial support from both private and public institutions is driving the market’s expansion.
- There is a growing focus on making paediatric vaccines available to all, and thus, there is a growing trend of making them cheap and even free in some cases.
- The protection of children from diseases continues to be a priority, and many vaccines are being developed to combat these diseases. Examples include the rotavirus vaccine, chickenpox vaccine, and the mumps vaccine.
- There are various campaigns focusing on creating awareness about vaccines related to measles and rubella in infants and pregnant women, which are propelling sales of paediatric vaccines.
- Difficulties prevail in delivering vaccines to countries that do not fall under the developed umbrella. Paediatric vaccine suppliers are also trying to reach customers in these countries.
- Companies producing paediatric vaccines are collaborating with the likes of health institutions, hospitals, and other players in the market to develop and distribute vaccines.
- The development of novel vaccines with the help of superlative research methodologies and advancement in science is another trend in the paediatric vaccine market.
Competitive Landscape in the Paediatric Vaccine Market
The paediatric vaccine suppliers are increasingly leveraging the benefits of collaborations. Partnerships with healthcare institutions, mergers with other manufacturers in the market, acquisitions, and collaborative strategies are some of the strategies adopted by paediatric vaccine suppliers.
The paediatric vaccines market does not feature manufacturers that are highly dominant. Instead, the market is fragmented, with several key players enjoying their share of the pie. The producers of paediatric vaccines are also receiving increasing approvals from health regulators to distribute their vaccines.
Recent Developments in the Paediatric Vaccine Market
- On June 30, 2023, SK Bioscience Ltd. and Sanofi Pasteur SA reported positive data from their 21-valent pneumococcal conjugate vaccine (PCV) vaccine study.
- In May 2023, the FDA approved vaccines from companies GSK plc and Pfizer Inc. for respiratory syncytial virus (RSV) treatment. These are the first vaccines approved by the FDA for RSV treatment. Meissa Vaccines Inc. has also reported positive results from trials of its RSV vaccine.
- On 31 August 2022, Pfizer Inc and BioNTech SE announced that the FDA had approved their Covid-19 vaccine booster dose for people of 12 years or older.
- In June 2022, GlaxoSmithKline Plc announced that its vaccine for the prevention of measles, mumps, and rubella in people over the age of one year got approval from the FDA.
Key Companies in the Paediatric Vaccine Market
- GlaxoSmithKline Plc
- Merck & Co. Inc
- Pfizer Inc.
- Sanofi SA
- Panacea Biotec
- Zydus Cadila
- Emergent BioSolutions Inc
- Serum Institute of India Pvt. Ltd.
- Bharat Biotech and Indian Immunological
- Catalent Inc
- Robinson Pharma Inc.
- Hunan Er-Kang Pharmaceutical Co. Ltd.
- Procaps
- CAPTEK Softgel International Inc
- Softcaps Fuji Capsule Co. Ltd.
- Aenova Holding GmbH
- Sirio Pharma Co. Ltd.
- Bahrain Pharma
- Sinovac Biotech Ltd
- AstraZeneca Plc
- Meissa Vaccines Inc
Key segments
By Indication:
- Pneumococcal Conjugate Vaccine
- DTP Vaccine
- Influenza
- Meningococcal Vaccine
- Polio Vaccine
- Rotavirus Vaccine
- MMR Vaccine
- Varicella Virus Vaccine
By Technology:
- Live or Attenuated Vaccine
- Inactivated or Killed Vaccine
- Toxoid Vaccine
- Conjugate Vaccine
- Subunit Vaccine
- Recombinant Vector Vaccine
By Vaccine:
- Monovalent Vaccines
- Multivalent Vaccines
By End-use Sector:
- Hospital Pharmacies
- Retail Pharmacies
- Institutional Health Centres
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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