Pediatric Vaccines Market Size, Share & Trends Analysis Report By Type (Monovalent, Multivalent), By Technology (Live Attenuated Vaccines), By Application (Cancer), By Region, And Segment Forecasts, 2024 - 2030

Pediatric Vaccines Market Size & Trends

The global pediatric vaccinesmarket size was valued at USD 44.87 billion in 2023 and is projected to grow at a CAGR of 4.1% from 2024 to 2030. This is due to increased awareness of the benefits of vaccines worldwide, resulting in higher demand for childhood vaccines. Furthermore, the increasing prevalence of chronic diseases such as respiratory infections among children requires more specialized vaccines, and, in addition, government programs and subsidies for their protection policies in developing countries are anticipated to drive market growth.

Advancement in new and better types of vaccines such as conjugate vaccines and recombinant vaccines proves to be more safe and effective for children. It creates trust in vaccines thus making their use more prevalent.

There is a substantial increase in economic growth, especially of the emerging economies, due to which families are able to save more and therefore spend more on preventative measures such as child immunizations.

Type Insights

Monovalent dominated the market and accounted for a share of 55.8% in 2023. This can be attributed to the fact that monovalent vaccines aims at one pathogen and is more sought after due to therapeutic irrationality and minimal side effects as perceived in combination vaccines hence making them more acceptable among the animators and parents. Additionally, huge amounts of funds have been spent by large EPSs on the manufacture and distribution of monovalent vaccines that have made them available and more accessible across the world.

Multivalent is expected to register the fastest CAGR of 4.3% during the forecast period. The main driver is the need to develop broad-spectrum immunization solutions where several diseases can be addressed through one injection, as per the needs of providers and users. Additionally, improvements in the existing vaccines and research for the development of new multivalent vaccines are increasing their reach and effectiveness. The immunization programs supported by governments and organizations are focusing on multivalent vaccines, particularly in areas with high incidence rates of diseases.

Application Insights

The infectious disease segment dominated the market in 2023. This is due to infectious diseases are more common and widespread especially measles, mumps, and rubella that require immunization. Also, constant improvements in the development of vaccines, and high governmental and international support for immunization programs have also contributed to the growth of this segment to constantly produce effective vaccines which are supplied across the world.

The measles, mumps, and rubella (MMR) segment is projected to grow at the fastest CAGR of 6.1% over the forecast period. This is attributable to the fact that there are still cases of measles, mumps, and rubella which are characteristics of children who have not been vaccinated in areas with poor coverage. Additionally, public health campaigns promoting the need for MMR vaccination and frequent international journeys are creating the need for this combination vaccine for children to prevent these diseases.

Technology Insights

The conjugate vaccines segment dominated the market in 2023. This is attributable to the higher immunogenicity they have as compared to usual vaccines as they stimulate better immunity in children especially those with low immunity. This advantage, along with the ability to target specific antigens, makes conjugate vaccines a preferred choice for many childhood vaccinations.

The live attenuated vaccines is projected to grow at the substantial rate over the forecast period. This is owing to long-term immunity these vaccines provide for illnesses such as measles, mumps as well as rubella thereby eliminating the use of booster vaccines. Additionally, they are very effective and cheap and hence can be used in immunization programs, especially in developing countries.

Regional Insights

North America dominated the pediatric vaccines market and accounted for a revenue share of 42.7% in 2023 due to immunisation coverage that is backed up by enough government support and funding of immunisation to ensure easy access to vaccines and strict compliance with immunisation schedules. Furthermore, the existing presence of big pharmaceuticals, the constant progress in the vaccine technology, and the good healthcare system that supports the market and promotion of new and advanced vaccines are anticipated to drive market growth in this region.

U.S. Pediatric Vaccines Market Trends

The U.S. pediatric vaccines market dominated the North America market with a share of 78.1% in 2023 due to developed healthcare infrastructure and government-supported immunization programs in the U.S. for pediatrics. This strong system guarantees a high level of vaccination and establishes stable demand for children’s vaccines and brings the U. S. market to the leading position.

Europe Pediatric Vaccines Market Trends

Europe pediatric vaccines market was identified as a lucrative region in 2023. First of all, there is concentration on the progresses of research and development of vaccines in Europe and the new creation of more effective vaccines. Furthermore, proper government support and grants for children's immunization services guarantee high rates of immunization and subsequently constant demand for children's vaccines across Europe.

UK pediatric vaccines market is expected to grow rapidly in the coming years due there is a rising importance of enhancing the immunisation routine for children in the UK, especially as many parents remain unconvinced of the need for vaccinations for their children with pertinent deadly diseases being eradicated. Additionally, an enhancement of public awareness of the need to get vaccinated and support from the government towards such programs are expected to propel the need for pediatric vaccines across UK.

Asia Pacific Pediatric Vaccines Market Trends

Asia Pacific pediatric vaccines market is anticipated to witness significant growth. As there is a significant rise in the population of children in the region which suggests a high demand for pediatric vaccines. Additionally, there is an increasing concern with the quality to health care facilities and for childhood immunization programs in many of the countries in Asia Pacific.

China pediatric vaccines market held a substantial market share in 2023 owing to China’s high birth rate and population growth, which means there is a constant stream of children that require immunization. Secondly, the government support for child immunization programs and efforts to enhance the population's awareness of immunization benefits also support more demand for pediatric vaccines in China.

Key Pediatric Vaccines Company Insights

AstraZeneca, Sanofi, and Pfizer are some of the key players operating in the pediatric vaccines market. These companies are primarily focusing on expanding their product portfolios and investing in mergers & acquisitions to capture a prominent market position.

• AstraZeneca is a multinational biopharmaceutical corporation whose core business is in discovering and producing new drugs in such categories as oncology, cardiovascular and metabolic disease. The medicines, for instance, those for asthma and chronic illnesses, are being consumed by millions of patients globally.

• Pfizer is an international pharmaceutical company that focuses on advancing health through innovation and producing prescription and over the counter products in several therapeutic categories.

Recent Developments

• In March, 2024 European commission approved Pfizer's PREVENAR 20, a vaccine offering the broadest serotype coverage to protect children against pneumococcal disease. This approval is based on extensive Phase 3 trial data demonstrating its safety and effectiveness. It follows similar approvals in the U.S., Canada, Australia, and other countries.

• In November, 2023 Indian Immunologicals Limited (IIL) has launched a new measles and rubella vaccine for children, named Mabella. Developed in partnership with the Polyvac Institute of Vietnam, the live-attenuated vaccine has undergone rigorous clinical trials, demonstrating both safety and efficacy. This launch coincides with the 25th anniversary of IIL’s Human Biologicals Institute, highlighting the company’s ongoing contributions to vaccine development and disease control in India.

• In May, 2023 Phase IIIb HARMONIE trial data was presented at the European Society for Paediatric Infectious Diseases meeting which demonstrated that Beyfortus (nirsevimab) significantly reduced hospitalizations due to RSV lower respiratory tract infections in infants under 12 months by 83.2%. Additionally, it showed a 75.7% reduction in very severe RSV LRTI hospitalizations, with Beyfortus maintaining a favorable safety profile. These results reinforce Beyfortus' potential to significantly relieve the burden of RSV on healthcare systems and families.

Pediatric Vaccines Market Report Scope

Global Pediatric Vaccines Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global pediatric vaccines market report based on type, technology, application, and region:

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Monovalent

  • Multivalent

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Live Attenuated Vaccines

  • Inactivated Vaccines

  • Subunit Vaccines

  • Toxoid Vaccines

  • Conjugate Vaccines

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Infectious Disease

  • Cancer

  • Allergy

  • Pneumococcal Diseases

  • Influenza

  • Measles, Mumps, and Rubella (MMR)

  • Other Application

• Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait