Dublin, Dec. 05, 2024 (GLOBE NEWSWIRE) -- The "Pediatric Vaccines Market by Vaccine Type, Technology, Indication, Distribution Channel, and by Region" report has been added to ResearchAndMarkets.com's offering. This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
The global pediatric vaccines market accounted for USD 54.17 billion in 2023 and is expected to reach at USD 156.57 billion by 2034 with a CAGR of 10.13% during the forecast period 2024-2034. The market will grow as a result of factors such as expanding immunization programs, increasing government funding and support, growing emphasis on preventive healthcare, rising disease prevalence, and increased awareness and education. 
North America is anticipated to have the highest revenue share during the forecast period owing to the high vaccination rates, robust healthcare infrastructure, strong government support for immunization programs, and a well-established market for pediatric vaccines. Additionally, Asia Pacific is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly growing population, increasing investments in healthcare infrastructure, rising disposable income levels, expanding immunization programs, and a growing focus on preventive healthcare measures. For instance, in October 2023, AstraZeneca and the Bill & Melinda Gates Foundation collaborated to create and supply a novel pneumococcal conjugate vaccination for underdeveloped nations.
Report Scope
- Base Year: 2023
- Forecast Period: 2024-2034
Study Coverage
- Market Forecast by Vaccine Type, Technology, Indication, and Distribution Channel
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Market Players
- GlaxoSmithKline plc
- Pfizer Inc.
- Sanofi
- Merck & Co. Inc.
- Johnson & Johnson
- Novartis International AG
- AstraZeneca plc
- CSL Limited
- Emergent BioSolutions Inc.
- Sinovac Biotech Ltd.
- Bharat Biotech
- Serum Institute of India Pvt. Ltd.
- Daiichi Sankyo Company
- Limited
- Bavarian Nordic A/S
- Takeda Pharmaceutical Company Limited
- 20% Free Customization Available to Meet Your Exact Requirements
The significance of vaccination in reducing childhood illnesses has come to the forefront of public consciousness. Parents' education regarding the advantages of pediatric vaccinations has been greatly aided by government programs, healthcare associations, and non-profit campaigns. As a result, the industry is expanding as more parents choose to vaccinate their kids. For instance, in February 2024, GSK and Sanofi Pasteur announced a strategic partnership to develop and market next-generation combination vaccines for kids, which will include a five-in-one vaccine that targets HIV, polio, tetanus, pertussis, and diphtheria (Hib).
By vaccine type, the multivalent vaccines segment accounted for the highest revenue-grossing segment in the global pediatric vaccines market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the increased convenience of administering multiple vaccinations in a single dose, reducing the need for multiple clinic visits and improving compliance rates among parents and healthcare providers. For instance, Pfizer's novel respiratory syncytial virus (RSV) vaccine candidate for newborns wins FDA approval in April 2024, potentially providing protection against a major cause of pediatric hospitalizations.
By technology, the inactivated vaccines segment accounted for the highest revenue-grossing segment in the global pediatric vaccines market in 2023 owing to the high demand for vaccines with proven safety records, especially among parents and healthcare providers concerned about adverse reactions associated with live attenuated vaccines. For instance, Sanofi reports encouraging Phase 3 trial findings for their experimental dengue vaccine candidate in March 2024, which might represent a major advancement in public health in areas with high dengue incidence. Additionally, the conjugate vaccines segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased efficacy in targeting bacterial diseases by enhancing the immune response, especially in infants and young children, leading to greater adoption and demand in the market.
By indication, the mumps and rubella segment accounted for the highest revenue-grossing segment in the global pediatric vaccines market in 2023 owing to the rising incidence of mumps and rubella outbreaks worldwide, driving demand for vaccinations to prevent these diseases and achieve herd immunity. For instance, in January 2024, Merck & Co. acquires a smaller company that specializes in rotavirus vaccines to broaden its line of pediatric vaccinations and increase its market share in developing nations. Additionally, the pneumococcal disease segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased awareness about the severity of pneumococcal infections and the introduction of newer vaccines targeting a broader range of pneumococcal strains, especially in emerging economies with expanding immunization programs.
By end-user, the institutional health centers segment accounted for the highest revenue-grossing segment in the global pediatric vaccines market in 2023 owing to the increased access to vaccines through government-funded immunization programs and partnerships with healthcare providers, ensuring widespread coverage and higher vaccination rates among children. For instance, in January 2024, Merck & Co. acquires a smaller company that specializes in rotavirus vaccines to broaden its line of pediatric vaccinations and increase its market share in developing nations. Additionally, the retail pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing convenience and accessibility for parents to obtain pediatric vaccines, coupled with the expansion of vaccination services and immunization awareness campaigns in retail pharmacy settings.
Pediatric Vaccines Market Analysis & Forecast by Vaccine Type 2023 - 2034 (Revenue USD Bn)
- Monovalent
- Multivalent
Pediatric Vaccines Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)
- Live Attenuated
- Inactivated
- Toxoid
- Conjugate
- Other Technologies
Pediatric Vaccines Market Analysis & Forecast by Indication 2023 - 2034 (Revenue USD Bn)
- Varicella
- Human Papilloma Virus
- Measles
- Mumps and Rubella
- Meningococcal Disease
- Pneumococcal Disease
- Polio
- Rotavirus
- Diphtheria
- Pertussis and Tetanus
- Influenza
- Other Indications
Pediatric Vaccines Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Hospital Pharmacies
- Retail Pharmacies
- Institutional Health Centres
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $54.17 Billion |
| Forecasted Market Value (USD) by 2034 | $156.57 Billion |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/p6ve4q
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