Pediatric Vaccine Market Set for Significant Growth, Projected to Reach USD 184,706.7 Million by 2033 at a 13.1% of CAGR

Pediatric Vaccine Market
Pediatric Vaccine Market

The global pediatric vaccine market is currently valued at USD 54,130.1 million in 2023 and is predicted to experience remarkable growth at a compound annual growth rate (CAGR) of 13.1%. By 2033, the market is expected to reach an impressive valuation of USD 184,706.7 million, highlighting its potential for significant expansion in the coming years.

This anticipated growth in the pediatric vaccine market is driven by several factors, including the rising awareness of the importance of vaccination for preventing infectious diseases, increased government initiatives to improve immunization rates, and ongoing research and development of new vaccines. The growing focus on public health and child safety further fuels the demand for effective vaccination programs globally.

This impressive growth reflects increasing global awareness of vaccination’s importance in preventing childhood diseases and advancements in vaccine development. The rise in vaccine coverage and the introduction of new and improved pediatric vaccines are driving the market’s expansion.

The paediatric vaccine market is a billion-dollar market accounting for a substantial proportion of healthcare expenditure in recent times. The paediatric vaccine market is segmented according to indication, technology and vaccine type. According to the indication, the paediatric vaccine market is sub-segmented into pneumococcal, DTP, rotavirus, influenza, meningococcal, hepatitis B, Hib, MMR and polio. According to technology, the market is further segmented into live or attenuated, inactivated or killed, toxoid, conjugate, subunit and recombinant vaccines. By vaccine type, the global paediatric vaccine market is segmented into monovalent and multivalent vaccines.

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.

Key Trends Influencing the Paediatric Vaccines Market:

  • 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 the paediatric vaccine 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.

Key players in the field, for instance, attribute the growth of the paediatric vaccine market to the development in the research 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.

A Full Report – Overview

Market Segmentation

Technology

  • Live or Attenuated Vaccine
  • Inactivated or Killed Vaccine
  • Toxoid Vaccine
  • Conjugate Vaccine
  • Subunit Vaccine
  • Recombinant Vector Vaccine

Indication

  • Pneumococcal Conjugate Vaccine
  • DTP Vaccine
  • Influenza
  • Meningococcal Vaccine
  • Polio Vaccine
  • Rotavirus Vaccine
  • MMR Vaccine
  • Varicella Virus Vaccine

End User

  • Hospital Pharmacies
  • Retail Pharmacies
  • Institutional Health Centres

Vaccine Type

  • Monovalent Vaccines
  • Multivalent Vaccines

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