The global pediatric vaccines market size reached US$ 34.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 54.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.
Pediatric vaccines or immunizations refer to medical supplies that create immunity in infants, children and adolescents. They are utilized for the prevention, treatment and management of diseases and are commonly available in multivalent and monovalent variants. These vaccines are commonly used in pediatric oncology, cardiology, critical care, and pulmonology departments. Pediatric vaccines assist in protecting children from various serious illnesses, such as polio, measles, brain swelling, paralysis, diarrhea and hepatitis. These vaccines are safe, effective, promote a healthier life and protect against infectious or noninfectious diseases.
Pediatric Vaccines Market Trends:
- The increasing number of births and the rising prevalence of various pediatric diseases represents the key factor primarily driving market growth. Additionally, the increasing need to promote public health and the widespread adoption of pediatric vaccines as a cost-effective means of advancing global welfare is also propelling the market growth. In line with this, the development of efficacious and safe vaccination that eliminates and decreases dangerous diseases that spread from child to child is favoring the market growth. Furthermore, various product innovations, such as the introduction of new pediatric vaccines that aid in the treatment of adolescents and children with relapsing forms of multiple sclerosis (RMS), are providing a considerable boost to the market growth. Additionally, the increasing demand for conjugate vaccines that consist of antigens and have the ability to elicit immunological memory and reduce asymptomatic carriage of the bacteria is positively impacting the market growth. Apart from this, growing awareness regarding early disease diagnosis and prevention, extensive research and development (R&D) activities and implementation of various government initiatives to promote accurate and timely administration of pediatric vaccination are anticipated to drive the market further toward growth.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global pediatric vaccines market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, technology and application.
Breakup by Type:
Breakup by Technology:
- Live Attenuated
Breakup by Application:
- Infectious Disease
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Bio-Med Private Limited, Daiichi Sankyo Company Limited, GSK plc, Indian Immunologicals Limited (National Dairy Development Board), Merck & Co. Inc., Mitsubishi Tanabe Pharma Corporation (Mitsubishi Chemical Holdings Corporation), Panacea Biotec Limited, Pfizer Inc., Sanofi S.A. and Sinovac Biotech Ltd.
Key Questions Answered in This Report:
- How has the global pediatric vaccines market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global pediatric vaccines market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global pediatric vaccines market and who are the key players?
- What is the degree of competition in the industry?