New York, United States, April 17, 2024 (GLOBE NEWSWIRE) -- The Global Pediatric Drugs and Vaccines Market Size is to Grow from USD 122.5 Billion in 2023 to USD 265.5 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 8.04% during the projected period.
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Pediatrics is the field of medicine that focuses on physical, social, and mental health from birth to the end of adolescence and is widely used in pediatric therapeutic areas, including antibiotics, analgesics, respiratory, GI, and vaccinations. Drug treatment dosing in pediatrics is based on the weight or surface area of the patient's body and the patient’s age due to variations in drug absorption, distribution, metabolism, and elimination. On the other hand, pediatric vaccines aid in stimulating the immune system of pediatric patients (immunological response), thus considered as the protective shield against harmful viruses. Pediatric drugs and vaccines are the medical supplies that are used for managing ailments/diseases in infants, children, adolescents, and young adults. The component of vaccine formulation responsible for triggering an immune response are inactive part of an antigen that produces antibodies against viruses. Vaccination has been extremely effective in preventing serious diseases and in improving health worldwide. The rising pediatric population is responsible for developing the pediatric drug and vaccine market. On the contrary, lack of accessibility due to lack of awareness and inadequate healthcare infrastructure deprives the market.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Pediatric Drugs and Vaccines Market Size, Share, and COVID-19 Impact Analysis, By Technology (Live Attenuated, Inactivated, Subunit, Toxoid, Conjugate, and Others), By Drug Indication (Infectious Disease, Cancer, Allergy and Respiratory, Nervous System Disorders, Cardiovascular Disease, Diabetes, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The conjugate segment dominates the market with the largest revenue share through the forecast period.
Based on technology, the global pediatric drugs and vaccines market is segmented into live attenuated, inactivated, subunit, toxoid, conjugate, and others. Among these, the conjugate segment is dominating the market with the largest revenue share through the forecast period. The increasing demand for conjugate vaccines is due to rising cases of pneumococcal and meningococcal diseases. For instance, the pneumococcal conjugate vaccine (PCV13) and the pneumococcal polysaccharide vaccine (PCV23) are the two conjugate vaccines that protect against pneumococcal infections in kids.
The infectious diseases segment is witnessing significant CAGR growth through the forecast period.
Based on the drug indication, the global pediatric drugs and vaccines market is segmented into infectious disease, cancer, allergy and respiratory, nervous system disorders, cardiovascular disease, diabetes, and others. Among these, the infectious disease segment is witnessing significant growth through the forecast period. There is growing market demand for pediatric drugs and vaccines among the common people for the infectious disease segment due to the spread of viruses like MERS, coronavirus, plague, etc.
The hospital pharmacy segment is witnessing significant CAGR growth through the forecast period.
Based on the distribution channel, the global pediatric drugs and vaccines market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Among these, the hospital pharmacy segment is witnessing significant growth through the forecast period. Since, hospitals are the primary healthcare centers for treating pediatric ailments thus hospital pharmacy is the crucial point for accessing pediatric drugs. The collaboration of pharmaceutical companies with hospitals influences hospital pharmacies in the pediatric drug market.
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North America dominates the market with the largest market share over the forecast period.
North America dominates the market with the largest market share over the forecast period. The increasing pediatric population and increasing treatment options for curing pediatric diseases uplifting the market of pediatric drugs and vaccines. In addition, the high healthcare spendings for treating pediatric diseases and accessibility of advanced pediatric ailment therapeutics due to advanced technology, and R&D of the drugs. Further, rising demand for preventive medical care and awareness regarding vaccine programs for the prevention of pediatric diseases positively influencing the pediatric drug and vaccine market in the region.
Asia-Pacific region is expected to grow the fastest during the forecast period. The increasing awareness and ease of accessibility to advanced pediatric drugs and vaccines. Further, rising disposable income and the development of healthcare infrastructure in the region lead to market growth. In addition, the rising government support and launch of new vaccines are boosting the market growth of pediatric drugs and vaccines.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global pediatric drugs and vaccines market are Novartis AG, AstraZeneca, Sanofi, GlaxoSmithKline plc., Pfizer, Merck & Co. Inc., Novo Nordisk A/S, Eli Lilly and Company, Serum Institute of India Pvt. Ltd., Panacea Biotec., Merck Sharp & Dohme Corp., Mitsubishi Tanabe Pharma Corporation, Zydus Cadila, Indian Immunologicals Ltd., Allergan Inc., and Others Key Players.
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Recent Developments
- In July 2023, FDA approved a monoclonal antibody treatment to protect infants and young babies against RSV. Nirsevimab, the antibody marketed by AstraZeneca and Sanofi as Beyfortus are one shot vaccine given to children upto 24 months of age.
- In December 2021, Novartis Cosentyx received FDA approval for the treatment of children and adolescents with enthesitis-related arthritis and psoriatic arthritis.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global pediatric drugs and vaccines market based on the below-mentioned segments:
Global Pediatric Drugs and Vaccines Market, Technology Analysis
- Live Attenuated
- Inactivated
- Subunit
- Toxoid
- Conjugate
- Others
Global Pediatric Drugs and Vaccines Market, Drug Indication Analysis
- Infectious Disease
- Cancer
- Allergy and Respiratory
- Nervous System Disorders
- Cardiovascular Disease
- Diabetes
- Others
Global Pediatric Drugs and Vaccines Market, Distribution Channel Analysis
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Pediatric Drugs and Vaccines Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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