Global Pediatric Vaccine Market - Forecasts from 2024 to 2029

Global Pediatric Vaccine Market - Forecasts from 2024 to 2029

The global pediatric vaccine market is expected to expand at a CAGR of 7.03% during the projected period to attain US$49.550 billion by 2029, up from US$30.920 billion in 2022.

Vaccination and immunization of children are vital constituents of advanced medication and may change marginally depending upon the area, indeed in spite of the fact that numerous vaccines are common. These vaccines offer assistance to safeguard children from different illnesses by supporting them to grow defense and immunity (assurance) that protects them against illnesses prior to they come into contact with them. By fortifying the human body's common protections i.e. natural defenses, the antibodies in the vaccines allow the human body to battle dangerous infections quickly and more competently.

Vaccines are begun at a very early age. Children are at expanded risk for infectious illnesses since their resistant mechanisms and immune systems are still in the developing phase the essential resistances to battle severe diseases and infections. The boost may be credited to the increasing public awareness among individuals concerning the significance of immunization. An increment in government and non-government subsidizing for the investigation and advancement of vaccines will moreover increase the industry for pediatric vaccines in the years ahead, at the same time, the high price of the vaccine could obstruct the market development in the coming years.

Market Drivers:

An increase in the conjugate vaccine segment is anticipated to surge the pediatric vaccine growth.

Conjugate vaccines are chemically attached antigens to carrier proteins, converting them into T-dependent antigens that elicit robust immune responses in infants and adults The CDC suggests the schedule direction for pneumococcal conjugate immunization (PCV13 or Prevnar13) for all children that are under two years of age.

The conjugate immunization segment's extension is anticipated due to improved immune reaction, avoidance of extreme infections in children, incorporated vaccine plans, and development of inoculation programs. Conjugate immunizations are profoundly successful in newborn children and young children because of their weak antigen’s combination with a carrier protein. They play a pivotal part in anticipating extreme infectious illnesses commonly influencing children, such as Haemophilus influenzae type b (Hib), Streptococcus pneumoniae, and Neisseria meningitidis.

Numerous nations have consolidated conjugate immunizations into their pediatric immunization plans, reflecting their significance in avoiding infections amid early childhood. Global health well-being activities and initiatives by organizations, like WHO and UNICEF, prioritize health of child and advocate for the broad utilization of antibodies. growing awareness among the public, progressing advancement, in R&D supportive drive by the government, and the general prioritization of pediatric immunization as a necessity for improved public well-being is anticipated to drive expansion within the conjugate vaccine industry.
Rising efforts of the government to upgrade their primary healthcare infrastructure would propel the market.

Developing as well as developed nations are taking action to improve admittance to pediatric immunization, which is anticipated to emphatically affect the worldwide pediatric vaccine industry expansion. Besides, the predominance of various infections, such as flu, pertussis, lockjaw, and diphtheria, among other infectious diseases as well as non-infectious diseases in children is however another major cause driving this market exponentially.

Also, the rising populace of nations such as India is expanding up to the population of children all over the globe. Further, as per UNICEF data for 2020, 67,385 babies are born in India each day, which accounts for one-sixth of the world's childbirth. Thus, the rising newborn child and children populace is anticipated to drive the worldwide pediatric vaccine industry amid the projected 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 effective and successful polio vaccination drive presented by the government of India is one of the foremost successful pediatric vaccination drives within the nation. Moreover, with the intention to lower childhood mortality, India expanded its Pneumococcal Conjugate immunization scope in December 2021 to incorporate the PCV13 immunization.

Key Development:

February 2024- Fapon and Indonesian state-owned pharmaceutical company Bio Farma signed a memorandum of understanding to strengthen medical innovations in the country. The partnership aims to develop biological medicines, technologies, medical devices, and IVD solutions, with a focus on healthcare localization. The goal is to foster synergistic collaboration, drive medical innovation, and boost the healthcare industry in Indonesia. Bio Farma, the largest vaccine manufacturer in Southeast Asia, leverages both companies' strengths to enhance healthcare services and contribute to the global diagnostics and medical treatment ecosystem.
January 2024- Endeavor Health provided $1.75 million to Rosalind Franklin University's Community Care Connection (CCC) through its Community Investment Fund (CIF). The CCC has increased staff, doubled flu vaccine availability, and provided free health screenings, vaccinations, and health education programs. The CCC also leased electric vehicles, acquired more rapid-test kits for COVID-19, strep throat, urinary tract infections, and the flu, and increased flu vaccine purchases. The financial support is transformative, enabling the CCC to provide more health resources, education, and connections to community agencies to address social determinants of health.
September 2023- The Pfizer-BioNTech COVID-19 Vaccine (2023-2024 Formula) was amended by the Food and Drug Administration to include the 2023-2024 formula. The monovalent vaccine, corresponding to the Omicron variant XBB.1.5 of SARS-CoV-2, was authorized for all doses administered to individuals aged 6 months to 11 years to prevent COVID-19. It was approved for unvaccinated individuals, those who have received one dose of any Pfizer BioNTech COVID-19 Vaccine, and those who have received two to four doses.
June 2022- GSK received FDA approval for Priorix, a vaccine for measles, mumps, and rubella, for individuals aged 12 months and older. With vaccination licenses in more than 100 countries, more than 800 million doses have been administered. Nevertheless, breakouts in recent times have undone decades of measles eradication. According to CDC research, there has been a decrease in the ordering of vaccines and fewer kids starting kindergarten, which raises the possibility that kids' vaccination records are out of current.

Market Segmentation:

The Global Pediatric Vaccine Market is segmented and analyzed as below:

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