Global Pediatric Vaccine Market - Forecasts from 2022 to 2027

The global pediatric vaccine market is projected to grow at a CAGR of 6.99% during the forecast period to reach US$43.292 billion by 2027, from US$26.986 billion in 2020.

Vaccination and immunization of children are essential components of modern medicine and may vary slightly depending upon the region, even though many vaccines are common. These vaccines help protect children from various diseases by helping them develop immunity (protection) against diseases before they come into contact with them. By stimulating the human body's natural defenses, these vaccines prepare the human body to fight deadly diseases faster and more efficiently. Vaccines are started at early age children are at increased risk for infectious diseases because their immune systems is yet to build up the necessary defenses to fight serious infections and diseases. The growth may be attributed to the rising awareness among people regarding the importance of immunization. An increase in government and non-government funding for research and development of vaccines will also augment the market growth for pediatric vaccines during the given time frame. However, the high cost of the immunization vaccine may hamper the growth of the market during the given time frame.

The global Pediatric vaccines market will grow due to the rising efforts of the government to upgrade their primary healthcare infrastructure.

Developing as well as developed countries are taking initiatives to enhance access to pediatric immunization, which is expected to positively impact the growth of the global pediatric vaccine market. Furthermore, the prevalence of numerous diseases such as influenza, pertussis, tetanus, and diphtheria among other infectious and non-infectious diseases in children is yet another prime factor driving the growth of the global pediatric vaccine market. Additionally, the rising population of countries like India is adding up to the child population globally. According to UNICEF, every day 67,385 babies are born in India, which accounts for one-sixth of the world's childbirth. Consequently, the rising infant and children population is expected to drive the global pediatric vaccine market during the forecast period.

The global pediatric vaccines market is expected to be dominated by the North American region, which is expected to hold a significant share of the pediatric vaccine market. Large-scale R&D expenditures, easy access to cutting-edge medical facilities, the presence of significant market competitors, and the general public's high degree of medical disease awareness may all contribute to the biggest proportion.

Due to increased government policies to promote healthcare, especially in growing economies like India and China, Asia-Pacific is anticipated to expand at the greatest CAGR over the forecast period. For instance, India's successful polio vaccination drive introduced by the government of India is one of the most successful pediatric vaccination drives in the country. In addition, in order to lower childhood mortality, India extended its Pneumococcal Conjugate vaccine coverage in December 2021 to include the PCV13 vaccine.

Key Development

• Pfizer and BioNTech were granted emergency use authorization by the US FDA in June 2022 for the COVID-19 vaccine for children aged 6 months to 4 years.
• The US FDA licensed the use of GSK's Priorix Vaccine for active immunization for the prevention of measles, mumps, and rubella in children 12 months of age and older in June 2022.
• The pivotal PNEU-PED research evaluating the immunogenicity and tolerability of VAXNEUVANCE in healthy infants recruited between 42 and 90 days of age was released by Merck in August 2021. The approved 13-valent pneumococcal conjugate vaccination or VAXNEUVANCE was administered to babies in the trial in a 4-dose regimen.
• The vaccine known as VAXELISTM was created in the United States in June 2021 as a result of a partnership between Merck and Sanofi. Indicated for active vaccination to help prevent diphtheria, tetanus, poliomyelitis, hepatitis B, and invasive disease caused by Hib, VAXELIS is the first and only hexavalent combination vaccine available in the USA, permitted for usage in children 6 weeks to 4 years old as a 3-dose series.

COVID-19 Impact

The pandemic had a significant impact on the global pediatric vaccines market. After the coronavirus surfaced in December 2019 and the widespread diffusion to cause COVID-19 illness was known, it became imperative to develop immunizations for the pandemic at an unprecedented pace and scale. Further, a large number of medical professionals were engaged in controlling COVID-19, as a result, the pandemic led to a decline in the global market for pediatric vaccines during this period. However, the COVID-19 vaccine has been licensed by the CDC for children as young as 6 months in June 2022. The FDA subsequently authorized emergency usage.

Market Segmentation:

• By Vaccine type

Monovalent

Multivalent

• By Technology

Live-attenuated vaccines

Inactivated vaccines

Subunit, recombinant, polysaccharide, and conjugate vaccines

Toxoid vaccines

Others

• By Application

Infectious Diseases

Cancer

Allergies

• By Geography

North America

• USA
• Canada
• Mexico

South America

• Brazil
• Argentina
• Others

Europe

• Germany
• France
• United Kingdom
• Spain
• Others

Middle East and Africa

• Saudi Arabia
• Israel
• Others

Asia Pacific

• China
• Japan
• India
• South Korea
• Indonesia
• Others