NEWARK, Del:, Sept. 25, 2023 (GLOBE NEWSWIRE) -- In 2023, the paediatric vaccine market is expected to be worth US$ 54,130.1 million. The market is expected to grow at a remarkable 13.1% CAGR to a value of US$ 184,706.7 million by 2033. As a result, it demonstrates that the paediatric vaccine market is poised for significant growth in the coming years.
The market value for the paediatric vaccine is approximately 31.9% of the overall US$ 138.7 Bn of the global vaccines market in 2021. As per the historical analysis conducted by Future Market Insights, the sales of paediatric vaccines expanded at a CAGR of 9.4% from 2014 to 2021.
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The global demand for paediatric vaccines market is anticipated to propel over the forecast period attributed to the increasing live births and an increasing number of infectious diseases like pneumonia, malaria, diarrhea, and tuberculosis. There is an increasing development of vaccinations using cutting-edge technology. Furthermore, key players in the market are likely to focus their efforts on resolving various supply and production constraints in the vaccine industry to get an advantage in the paediatric vaccine market.
Some lethal diseases like Hepatitis A., Hepatitis B., and HPV (human papillomavirus, polio, tetanus, and rubella majorly affect the paediatric population due to their weak immune system. Paediatric vaccines protect children affected by such disease and will expand the global market. Owing to the steadily growing demand for paediatric vaccines, manufacturers in the industry are focusing on paediatric vaccines. Numerous infections are transmitted globally, and children's weak immune system makes them more susceptible to infections. The market for paediatric vaccines is expanding globally due to this factor.
"Pediatric vaccines are integral to child healthcare," emphasizes the research manager, based on a Lead Analyst recent study. "These vaccines provide crucial protection against preventable diseases, safeguarding the health and well-being of children and contributing to public health initiatives worldwide.
Key Takeaways
- The rising investment of government and non-government organizations in raising awareness and favorable reimbursement policies is anticipated to boost the market's growth. In addition, increased emphasis on immunization programs to build awareness regarding the benefits of vaccination and expanding the accessibility of vaccines by making them available at affordable rates at government institutions will boost market expansion for paediatric vaccines.
- Various factors including economic growth in emerging markets, increasing awareness of vaccines and immunization among the population, as parents are now well aware of vaccines and advanced features after use, are set to enhance the sales of the overall market.
- A significant rise in research collaborations is taking place for the development of innovative vaccines and the management of end users to escalate the reach of vaccines are crucial factors contributing to the growth of the global paediatric vaccine market.
- The global paediatric vaccines market is expected to experience significant growth throughout the assessment period as a result of recent developments and breakthroughs in next-generation rotavirus vaccines.
- Over the recent years, the development of new and more effective vaccines has significantly reduced the incidence of hospital admissions for diarrhea among children five years old or younger. This is a major driving factor to boost the demand for paediatric vaccines.
- Additionally, when incorporated into national immunization programs, rotavirus has shown to be a fully effective, long-term, and cost-effective treatment. Hence, demand within the paediatric vaccine market is continuously surging.
Paediatric Vaccine Market Size:
| Attributes | Details | |
| Paediatric Vaccine Market Value for 2023 | US$ 54,130.1 million | |
| Projected Market Value for 2033 | US$ 184,706.7 million | |
| Value-based CAGR for 2023 to 2033 | 13.1 | % |
Competitive Landscape
The market for the production of paediatric vaccines is fragmented with several competitors. These businesses are employing strategies including collaborations, partnerships, mergers, acquisitions, and new product releases to satisfy consumer demand and increase their client base.
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Paediatric Vaccine Market Segmentation:
By Indication:
- Pneumococcal Conjugate Vaccine
- DTP Vaccine
- Influenza
- Meningococcal Vaccine
- Polio Vaccine
- Rotavirus Vaccine
- MMR Vaccine
- Varicella Virus Vaccine
By Technology:
- Live or Attenuated Vaccine
- Inactivated or Killed Vaccine
- Toxoid Vaccine
- Conjugate Vaccine
- Subunit Vaccine
- Recombinant Vector Vaccine
By Vaccine:
- Monovalent Vaccines
- Multivalent Vaccines
By End User:
- Hospital Pharmacies
- Retail Pharmacies
- Institutional Health Centers
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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