Newark, Oct. 17, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global Pediatric Vaccines market is expected to grow from USD 41.6 Billion in 2021 to USD 98.8 Billion by 2030, at a CAGR of 10.1% during the forecast period 2022-2030.
The market is anticipated to be driven by the rising incidences of chronic diseases among children. Furthermore, the increasing number of stringent government measures and government funding adds impetus to the market's growth during the forecast period. The increase in the number of vaccine approvals provides an opportunity for market’s growth. The rising prevalence of chronic and infectious diseases among children increases the development of vaccines that needs to be approved. As the government is focused on adopting novel vaccines for diseases, they approve vaccines in large numbers, providing an opportunity for the market's growth
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Competitive Strategy
To enhance their market position in the global Pediatric Vaccines market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In August 2022: UNICEF gave the contract of the first-ever supply of the malaria vaccine RTS, S/AS01, to GSK with a value of around USD 170 Million. It would make 18 million doses available for three years, saving many lives. For instance, in 2020, around half a million children died of malaria in Africa.
Market Growth & Trends
Pediatric Vaccines These vaccines contain heat-killed viruses or inactivated viruses. This means these viruses have lost their capacity or pathogenicity to cause any disease in humans. Furthermore, the inactivated viruses act as antigens and trigger the immune system to create antibodies against the virus that might cause illness in the child's body. As a result, they protect the body's immune system from any infectious and non-infectious diseases in the future. A study has found that immunization in children saves the life of an estimated 2-3 million children per year. The rising awareness among people regarding the benefits of vaccinations for children drives the market's growth. These days people are traveling more frequently, coming in contact with wild animals, and staying in densely populated areas, increasing the risk of disease in children. Furthermore, the increasing global warming and rising pollution also add to the growing illness in children. The diseases can also be triggered due to the intentional introduction of pathogens into the plant, humans, and populations for terrorist goals, increasing the chances of new infection occurrence in the people, which can trigger worldwide epidemics. The increasing prevalence of chronic diseases such as diphtheria, influenza, tetanus, pertussis, etc., drives the market's growth. Furthermore, the rising occurrence of infectious and non-infectious diseases in children also propels the market's growth.
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Key Findings
• In 2021, the monovalent segment dominated the market with the largest market share of 63% and market revenue of USD 26.21 Billion.
The vaccine type segment is divided into monovalent and multivalent. In 2021, the monovalent segment dominated the market with the largest market share of 63% and market revenue of USD 26.21 Billion. The monovalent vaccine type segment has been growing owing to its rapid immune response to the human body. Further, the monovalent vaccine type segment also comes with safety and stability, which drives the segment's growth.
• The conjugate segment is expected to grow at the fastest CAGR of 16.6%.
The technology segment is divided into inactivated, live attenuated, subunit, conjugate, toxoid, and other. Over the forecast period, the conjugate segment is expected to grow at the fastest CAGR of 16.6%. The segment has been growing owing to an increase in the prevalence of meningococcal and pneumococcal infections coupled with rising awareness regarding the prevention of diseases.
• In 2021, the infectious disease segment dominated the market with the largest market share of 16% and market revenue of USD 6.66 Billion.
The application segment is divided into cancer, mumps, infectious disease, allergy, influenza, pneumococcal disease, measles, and rubella (MMR). In 2021, the infectious disease segment dominated the market with the largest market share of 16% and market revenue of USD 6.66 Billion. The rising awareness about immunization against several infectious diseases that causes morbidity and mortality drives the segment's growth.
Regional Segment Analysis of the Pediatric Vaccines Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region occurred as the largest market for the global Pediatric Vaccines industry, with a market share of 33% and a market value of around USD 13.73 Billion in 2022. The market for pediatric vaccines in the region has been growing owing to increasing innovations, growing research and development activities, and rising investments by government and non-government organizations.
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Key players operating in the global Pediatric Vaccines market are:
• Astellas Pharma Inc.
• GSK
• Grifols, S.A.
• Novo Nordisk A/S
• Pfizer Inc.
• Johnson & Johnson Services, Inc.
• Teva Pharmaceutical Industries Ltd.
• Merck & Co., Inc.
• Takeda Pharmaceutical Company Limited
• Bristol-Myers Squibb Company
• F. Hoffmann-La Roche Ltd.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global Pediatric Vaccines market based on below mentioned segments:
Global Pediatric Vaccines Market by Vaccine Type:
• Monovalent
• Multivalent
Global Pediatric Vaccines Market by Technology:
• Inactivated
• Live Attenuated
• Subunit
• Conjugate
• Toxoid
• Other
Global Pediatric Vaccines Market by Application:
• Cancer
• Mumps
• Infectious Disease
• Allergy
• Influenza
• Pneumococcal Disease
• Measles
• Rubella (MMR)
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About the report:
The global Pediatric Vaccines market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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