Pediatric Vaccine Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[204+ Pages Report] According to Facts and Factors, the global Pediatric vaccine market size was valued at USD 47.82 billion in 2022 and is predicted to surpass USD 124.34 billion by the end of 2030. The pediatric vaccine industry is expected to grow by a CAGR of 12.73%.

Market Overview

Pediatric vaccines are particularly made for immunization to help protect children against various infectious viruses. The vaccine functions by prompting the immune system to identify particular pathogens or bacteria and administer medicine to the viruses that cause serious illnesses. Pediatric vaccines are delivered on a recommended schedule shortly after the birth of the baby and continue through their childhood to provide immunity at the most vulnerable stages of the child's development.

Key Insights

• As per the analysis shared by our research analyst, the global pediatric vaccine market size is estimated to grow annually at a CAGR of around 12.73% over the forecast period (2023-2030).
• In terms of revenue, the global pediatric vaccine market size was valued at around USD 47.82 billion in 2022 and is projected to reach USD 124.34 billion by 2030.
• Expanded immunization programs are driving the growth of the global pediatric vaccine market.
• Based on the end-users, the hospital pharmacies segment is growing at a high rate and is projected to dominate the global market.
• Based on the vaccine, the monovalent vaccine is projected to swipe the largest market share.
• Based on the technology, the recombinant vector vaccine segment is expected to swipe the largest share of the market.
• Based on the indication, the influenza segment accounts for the largest share of the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.           

Growth Drivers

• Expanded immunization programs will drive the growth of the global market.

The ongoing efforts by the government and several health organizations to strengthen immunization programs for children are the major factors driving the growth of the global pediatric vaccine market. Increasing investments and support to expand vaccination campaigns to help a growing number of children all across the world is another significant reason for the high demand for pediatric vaccines in the global marketplace.

For instance, Pfizer Inc. and BioNTech SE got approval for the booster dose of the COVID-19 vaccine on 31 August 2022 for people 12 years or older.

Restraints

• High development costs are likely to hamper the growth of the global market.

Innovating, testing, and developing vaccines is a time-consuming process that involves a high cost. Therefore, the high cost associated with regulatory approval, clinical trials, and research further limits the number of vaccines in the market, particularly in economically weak countries. Therefore, such a landscape is expected to slow down the growth trajectory of the pediatric vaccine industry during the forecast period.

Opportunities

• High incidence of infectious diseases is expected to foster growth opportunities in the global market.

There is a growing prevalence of infectious diseases along with various other potential outbreaks, emphasizing the high requirement for vaccination campaigns. The emerging strains of various viruses in the market further foster the development of relevant vaccines all across the globe.

Therefore, the pediatric vaccine industry landscape is expected to witness huge developments in the coming years. For instance, GlaxoSmithKline Plc revealed its vaccine for the prevention of rubella, mumps, and measles in June 2022 for people above one year.

Challenges

• Vaccine hesitancy is a big challenge in the global market.

There are several concerns and misinformation regarding the safety of vaccines, which foster vaccine hesitancy among the people. Such a landscape drives lower vaccine rates in the market, which is likely to slow down the growth of the global pediatric vaccine market. This hesitancy is a result of social media platforms, cultural beliefs, and misinformation campaigns.

Segmentation Analysis

The global pediatric vaccine market can be segmented into end user, vaccine, technology, indication, and region.

By end user, the market can be segmented into institutional health centers, retail pharmacies, and hospital pharmacies. The hospital pharmacies segment accounts for the largest share of the pediatric vaccine industry. Hospitals are viewed as a central hub for vaccination programs. It largely involves childhood immunization and several other important vaccination programs, which drive a huge pool of patients into the centers.

Moreover, the well-established infrastructure and expertise to handle large-scale vaccination programs are also expected to foster huge developments in the segment.

By vaccine, the market can be segmented into multivalent vaccines and monovalent vaccines. The monovalent vaccine segment is expected to swipe the largest share of the global pediatric vaccine market. The monovalent vaccines are designed to offer a higher protection variant against a single pathogen. It is a targeted approach to help people get immunity against a particular disease. The high prevalence of these diseases and associated public health priorities increases the demand for specific vaccines.

Development and adoption of these vaccines targeting a particular disease also increases the demand. Advancements in vaccine technology, like improvements in the manufacturing process, formulation, and adjuvant, further led to the innovation of highly effective monovalent vaccines.

By technology, the market can be segmented into recombinant vector vaccine, subunit vaccine, conjugate vaccine, toxoid vaccine, inactivated or killed vaccine, live or attenuated vaccine, and others. The recombinant vector vaccine is the leading segment in the pediatric vaccine industry. Recombinant vector vaccines are technologically advanced approaches to deliver strong and specific immune responses.

The recombinant vector vaccines are versatile in nature and can be adapted to treat various pathogens. These vaccines involve the utilization of a harmless virus to deliver the genetic material into the cell to prompt an immune response. Such a positive landscape has significantly increased the attention to their potential to offer targeted protection against particular diseases.        

By indication, the market can be segmented into varicella virus vaccine, MMR vaccine, rotavirus vaccine, polio vaccine, meningococcal vaccine, influenza, DTP vaccine, pneumococcal conjugate vaccine, and others. The influenza segment is anticipated to observe notable developments in the global pediatric vaccine market during the forecast period. Influenza is a seasonal virus, and the vaccine for its treatment is always updated annually to target the most prevalent strains of influenza.

However, their requirement for updated vaccines and the recent surveillance of new influenza strains are significantly contributing to the growth of the segment. Also, the government and non-government organizations are executing influenza vaccine campaigns as a part of public health initiatives. The increasing accessibility and awareness are likely to drive notable developments in the segment.

Report Scope

Regional Analysis

• North America to dominate the global market.

North America accounts for the largest share of the global pediatric vaccine market in the forthcoming years. The dynamics of the regional market depend on the regional healthcare infrastructure, vaccination policies, disease prevalence, and public awareness. The United States and Canada have well-established regular immunization programs. These programs help in vaccination for children against pertussis, diphtheria, polio, goal mumps, measles, rubella,  and others.

Regulatory bodies like the US Food and Drug Administration (FDA) and Health Canada play a vital role in approving pediatric vaccines and evaluating them on the basis of efficacy and safety. Therefore, such a landscape is likely to foster developments in the regional market.

Also, the accessibility of pediatric vaccines because of insurance coverage and healthcare policies is further expected to positively impact the growth trajectory of the market. The public health campaigns and educational initiatives to promote children's vaccinations are further expected to boost the demand in the market. These campaigns aim to enhance awareness among healthcare providers and parents about the advantages of timely vaccination, which is another primary reason for the high growth rate of the regional market.

Asia Pacific is also likely to grow steadily during the forecast period. The emerging countries in the Asia Pacific are investing heavily in strengthening the healthcare infrastructure and the vaccination program, which is further expected to positively impact the growth trajectory of the pediatric vaccine industry.

Moreover, several vaccination immunization programs are run by the government to ensure a larger group of children receive the essential vaccines. These programs specifically target some severe and fast-growing diseases like hepatitis, polio, measles, and some others.

Moreover, the public-private partnership emerges as a primary factor for the development and distribution of vaccines on a large scale in the region. For instance, Pfizer Inc. and GSK plc got their vaccines approved by the FDA in May 2023 for the treatment of respiratory syncytial virus.

Competitive Analysis

The key players in the global pediatric vaccine market include:

• Meissa Vaccines Inc.
• AstraZeneca Plc
• Sinovac Biotech Ltd.
• Bahrain Pharma
• Sirio Pharma Co. Ltd.
• Aenova Holding GmbH
• Softcaps Fuji Capsule Co. Ltd.
• CAPTEK Softgel International Inc.
• Procaps
• Hunan Er-Kang Pharmaceutical Co. Ltd.
• Robinson Pharma Inc.
• Catalent Inc.
• Bharat Biotech and Indian Immunological
• Serum Institute of India Pvt. Ltd.
• Emergent BioSolutions Inc.
• Zydus Cadila
• Panacea Biotec
• Sanofi SA
• Pfizer Inc.
• Merck & Co. Inc.
• GlaxoSmithKline Plc

For instance, SK Biosciences Ltd and Sanofi Pasteur SA on 30 June 2023 revealed positive data from their 21 valent pneumococcal conjugate vaccine study.

The global pediatric vaccine market is segmented as follows:

By End User Segment Analysis

• Institutional Health Centers
• Retail Pharmacies
• Hospital Pharmacies

By Vaccine Segment Analysis

• Multivalent Vaccines
• Monovalent Vaccines

By Technology Segment Analysis

• Recombinant Vector Vaccine
• Subunit Vaccine
• Conjugate Vaccine
• Toxoid Vaccine
• Inactivated Or Killed Vaccine
• Live Or Attenuated Vaccine
• Others

By Indication Segment Analysis

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

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America