Global Paediatric Vaccine Industry Set for Explosive Growth at 13.1% CAGR, Reaching US$184.7 Billion by 2033 | FMI Analysis

The Global Paediatric Vaccine Industry is on the cusp of a remarkable surge, according to a recent analysis by [Your Company Name]. The market, currently valued at an estimated US$54.13 billion in 2023, is projected to skyrocket at a phenomenal Compound Annual Growth Rate (CAGR) of 13.1% from 2023 to 2033. This translates to a staggering market valuation of US$184.7 billion by 2033.

This substantial expansion underscores the increasing importance and demand for paediatric vaccines worldwide. The burgeoning market is driven by advancements in medical research, a focus on preventive healthcare, and a growing awareness of the importance of immunization for children’s well-being.

A slew of routine immunisation initiatives rolled out by the government and private agencies have broadened the market for paediatric vaccines. A new wave of funds pumped into the market by different government and private players to curb the rise of child deaths across the globe has also opened a new window of opportunity for the paediatric vaccine market. As per the report of WHO (World Health Organization), global spending on immunisation soared from US$21.4 to US$26.9 per infant in 2014. The massive economic boom in some regions of the world is expediting the growth of the paediatric vaccine market.

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Segmentation analysis

• By indication, the pneumococcal segment accounted for a higher revenue share in global paediatric vaccines as compared to other product segments. The pneumococcal segment is expected to reach a value of US$ 31.58 Bn by 2026, reflecting a CAGR of 14.4% over the forecast period. The growth of the pneumococcal segment is attributed to the increasing incidence of infectious diseases.

• In terms of revenue, the Hib vaccine segment is the second most growing segment and is expected to reach a value of US$ 13.49 Bn by 2026, growing at a CAGR of 13.4%. The hepatitis B and meningococcal segments are expected to show double-digit CAGR growth in the forecast period contributing to the growth of the global paediatric vaccine market.

• By technology, the conjugate segment accounted for the highest revenue share in the global paediatric vaccine market as compared to the live or attenuated segment. The conjugate segment is expected to reach a value of US$ 32.09 Bn by 2026, reflecting a CAGR of 14.8% over the forecast period. This is expected to be closely followed by the growth of pneumococcal and meningococcal vaccines in this segment
• By end user, institutional health centres account for higher demand for paediatric vaccines as compared to other end-user segments such as hospital pharmacies and retail pharmacies. The strong growth in institutional health centres can be attributed to increasing government interventions in immunisation programs to improve vaccine coverage. Institutional health centres are expected to register the highest CAGR of 13.8% over the forecast period.

Regional analysis

By region, North America is dominating the global paediatric vaccine market due to improved healthcare infrastructure in this region. The North American paediatric vaccine market is expected to be valued at US$ 20.15 Bn by 2026 growing at a CAGR of 11.0%. In addition to North America, demand for paediatric vaccines has been significantly growing in Western Europe and APEJ. APEJ is expected to grow at a CAGR of 14.9% over the forecast period and is expected to dominate the market by 2026 by generating revenue of US$ 22.69 Bn and revenues in Western Europe are anticipated to grow by 11.2%. Middle East and Africa are expected to grow at a CAGR of 12.6% and this growth is anticipated by growth government intervention for immunisation by carrying out national-level immunisation campaigns and also disease-specific immunisation campaigns.

Key players in the global paediatric vaccine market include

• Indian Immunologicals,
• GlaaxoSmithKline Plc.,
• Pfizer Inc.,
• Sanofi, Merck & Co. Inc.,
• Panacea Biotec,
• Zydus Cadila,
• Emergent BioSolutions Inc.,
• Serum Institute of India Pvt. Ltd.,
• Bharat Biotech.

The growth of the paediatric vaccine market is attributed to the development in the research by key players in the field, for instance, in February 2016, GSK submitted a US regulatory submission for expanding the indication of FLuLaval Quadrivalent, an influenza vaccine, for infants more than 6 months. These developments will boost the growth of the global paediatric vaccine market.

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