PUBLISHER: The Business Research Company | PRODUCT CODE: 1429592
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429592
Pediatric vaccines are medicinal formulations primarily administered to children to safeguard them against severe and often life-threatening diseases. These vaccines prepare a child's body to combat diseases more effectively by enhancing its natural defense mechanisms.
The primary classifications of pediatric vaccines are monovalent and multivalent. A monovalent vaccine comprises a single antigen strain. Various technologies, including live attenuated, inactivated, toxoid, conjugate, and others, are employed to confer immunity against infectious diseases, allergies, and cancer.
The pediatric vaccine market research report is one of a series of new reports from The Business Research Company that provides pediatric vaccine market statistics, including pediatric vaccines industry global market size, regional shares, competitors with a pediatric vaccine market share, detailed pediatric vaccine market segments, market trends and opportunities, and any further data you may need to thrive in the pediatric vaccine industry. This pediatric vaccine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The pediatric vaccine market size has grown strongly in recent years. It will grow from $49.89 billion in 2023 to $53.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The expansion witnessed in the historical period can be attributed to a rise in the incidence of chronic diseases, the implementation of immunization policies to eliminate endemic diseases, and augmented funding dedicated to vaccine development.
The pediatric vaccine market size is expected to see rapid growth in the next few years. It will grow to $83.49 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The anticipated growth in the forecast period can be ascribed to the rising instances of invasive cervical cancer, a robust late-stage pipeline, and approvals for new drugs, along with an increasing prevalence of infectious diseases. Notable trends in the forecast period include the creation of combination vaccines to meet market demand, strategic investments in research and development for effective vaccine formulations, and the development of vaccines tailored for the younger population. Additionally, there is a focus on crafting live attenuated vaccines to provide long-term immunity protection, utilizing new immunoengineering and advanced delivery systems to enhance vaccine safety, and implementing artificial intelligence (AI) in vaccine development processes for simplification and streamlined manufacturing.
The escalating prevalence of chronic diseases, including tuberculosis, diphtheria, and pneumonia, among individuals aged 15 years and below is set to contribute to the expansion of the pediatric vaccines market. The risk of severe disease outcomes and complications from infectious diseases is on the rise among children and adolescents with chronic conditions. As of March 2022, as reported by the Australian Bureau of Statistics, approximately half of the overall population (46.6% or 11.6 million) had at least one chronic condition. This heightened prevalence of chronic diseases in children increases the demand for immunization against these conditions, thereby propelling the growth of the pediatric vaccine market.
The increasing incidence of pediatric diseases is anticipated to drive the growth of the pediatric vaccine market in the foreseeable future. Pediatric diseases encompass a range of disorders affecting children from infancy to puberty, varying in severity and chronicity. Vaccinations for pediatric diseases are crucial for preventing and managing a diverse spectrum of pediatric disorders. Administered to newborns and children, these vaccines offer protection against numerous infectious illnesses. For example, in April 2023, data from Asthma + Lung UK revealed a 149% increase in hospital stays for children with asthma in England and Wales between 2021 and 2022. The number of children hospitalized with asthma symptoms during 2020 and 2021 was 19,506, compared to 7,850 in the previous two years. Consequently, the growing prevalence of pediatric diseases is a key driver for the pediatric vaccine market.
The demand for innovative vaccines is consistently increasing to provide enhanced immunization against challenging infectious diseases (e.g., tuberculosis, HIV/AIDS) and non-communicable chronic diseases such as cancer and neurodegenerative diseases. Novel approaches to vaccine development involve structural immunogenic design, gene-based vaccine platforms, and the formulation of effective adjuvant recombinant antigens. In response to the growing demand for novel vaccines, pediatric vaccine manufacturers and developers are continuously seeking innovation in vaccine design and manufacturing technologies. For example, in April 2023, Pfizer Inc., a US-based pharmaceutical manufacturing company, announced the US FDA approval of REVNAR 20, a 20-valent Pneumococcal Conjugate Vaccine for children and infants.
Major companies in the pediatric vaccine market are prioritizing product approvals to better cater to the needs of their existing consumers. ABRYSVO is an FDA-approved vaccine for use in pregnant women, aiming to prevent lower respiratory tract disease (LRTD) and severe LRTD caused by respiratory syncytial virus (RSV) in children up to 6 months of age. For instance, in August 2023, Pfizer Inc., a US-based pharmaceutical manufacturing company, announced the US FDA approval of Pfizer's ABRYSVO vaccine for the prevention of Respiratory Syncytial Virus (RSV) in infants through active immunization of pregnant women at 32-36 weeks gestational age. This marks the first and only maternal vaccination approved in the United States to help protect newborns against lower respiratory tract illness (LRTD) and severe LRTD caused by RSV from birth to six months of age.
Major companies operating in the pediatric vaccine market report are Merck & Co. Inc., Serum Institute of India Pvt. Ltd., Sanofi SA, Pfizer Inc., AstraZeneca, GlaxoSmithKline PLC, Sinovac Biotech Ltd., Zydus Cadila, Indian Immunologicals Limited, Panacea Biotec, Takeda Pharmaceutical Company, Mitsubishi Tanabe Pharma Corporation, Daiichi Sankyo, CSL Limited, BIO-MED, Sun Pharmaceutical Industries Ltd., Sinopharm, Walvax biotechnology, Fosun Pharma, BioNTech, MCM Vaccine Company, Seqirus, Roche, Johnson & Johnson, Novartis, Connaught Laboratories, Inc., Wyeth-Ayerst, Grifols, Ataulfo de Paiva Foundation, Bio-Manguinhos-Institute of Technology on Immunobiologicals, Butantan Institute, Ezequiel Dias Foundation (FUNED), Sinergium
North America was the largest region in the pediatric vaccine market in 2023. Middle East is expected to be the largest growing region in the global pediatric vaccine market share during the forecast period. The regions covered in the pediatric vaccine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the pediatric vaccine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The pediatric vaccine market consists of sales of BCG vaccines, hepatitis B vaccines, pentavalent vaccines, and rotavirus vaccines. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Pediatric Vaccine Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pediatric vaccine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pediatric vaccine? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The pediatric vaccine market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.