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Pediatric Vaccine Global Market Report 2023

ReportLinker
Updated ·5-min read
ReportLinker
ReportLinker

Major players in the pediatric vaccines market are GlaxoSmithKline plc, Pfizer Inc., Sanofi S.A., Merck & Co., Inc., Indian Immunologicals Limited, AstraZeneca plc, CSL Limited, Mitsubishi Tanabe Pharma Corporation, Serum Institute of India Pvt.

New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pediatric Vaccine Global Market Report 2023" - https://www.reportlinker.com/p06241821/?utm_source=GNW
Ltd., Panacea Biotec Ltd., Zydus Cadila, BIO-MED, Squibb, Novartis , Abbott Laboratries, Eli Lillyand Company, F. Hoffmann- La Roche Ltd., Novo Nordisk A/S, VF Corporation, Sinovac Biotech Ltd., Bristol- Myers, Sun Pharmaceutical Industries Ltd, Sellas and Takeda Pharmaceutical Company Limited, Daiichi Sankyo, Bristol- Myers and Sinovac Biotec Ltd.

The global pediatric vaccine market is expected to grow from $31.44 billion in 2021 to $36.64 billion in 2022 at a compound annual growth rate (CAGR) of 16.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The pediatric vaccine market is expected to reach $57.51 billion in 2026 at a CAGR of 11.9%.

The pediatric vaccines market consists of sales of BCG vaccines, hepatitis B vaccines, pentavalent vaccines, and rotavirus vaccines.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Pediatric vaccines refer to medications that are typically given to children as a form of protection against serious, frequently fatal diseases. They get the children’s body ready to battle the disease more quickly and successfully by boosting its natural defences.

North America was the largest region in the pediatric vaccines market in 2022.Middle East is expected to be the fargest growing region in the forecast period.

The regions covered in the pediatric vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of pediatric vaccines are monovalent and multivalent.A monovalent vaccine is made up of only one antigen strain.

The technology used includes live attenuated, inactivated, toxoid, conjugate, and other technologies to provide immunity from infectious disease, allergy, and cancer.

The rising prevalence of chronic diseases such as tuberculosis, diphtheria, and pneumonia in the age group of 15 years and below will contribute to the growth of the pediatric vaccines market.The risk of severe disease outcomes and complications of infectious diseases are increasing in children and adolescents with chronic conditions.

According to the World Health Organization, chronic disease prevalence rose by 57% in the year 2020. The increased prevalence of chronic diseases among children rises the demand for immunization from chronic diseases, hence, driving the pediatric vaccines market’s growth.

Vaccine refusal by parents for their children is a prevailing tradition in many countries.Among the reasons for withholding children from vaccination are lack of knowledge, religious and philosophical objections, exaggerated concerns regarding vaccine safety, and others.

According to a nationwide survey found that over half (51%) of pediatric services in the United States have a policy to dismiss families that refuse childhood vaccines. 37% of pediatricians themselves said they often dismissed families for refusing vaccines, and 6% said they would dismiss a family for choosing to reach out to crucial early vaccines. Governments are imposing laws and organizing awareness programs to overcome parents’ and families’ resistance to the child’s vaccine, but are unable to impose any strict rules against parents’ refusal of children’s immunization, which may hinder the pediatric vaccines market’s growth.

The demand for novel vaccines is steadily growing to deliver improved immunization against challenging infectious diseases (e.g. tuberculosis, HIV/ AIDS) and non-communicable chronic diseases such as cancer and neurodegenerative diseases. Novel approaches to vaccine development include structural immunogenic design, gene-based vaccine platforms, and effective adjuvant recombinant antigen formulations. To meet the increasing demand for novel vaccines, there is a continuous quest for pediatric vaccine manufacturers and developers for the innovation of vaccine design and manufacturing technologies. For instance, in January 2020, Hilleman laboratories, global research, and development organization, announced their plans to develop a novel vaccine against Group B Streptococcus, a major cause of neonatal infections in women, in the area of maternal and child health.

The countries covered in the pediatric vaccines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The pediatric vaccines market research report is one of a series of new reports that provides pediatric vaccines market statistics, including pediatric vaccines industry global market size, regional shares, competitors with a pediatric vaccines market share, detailed pediatric vaccines market segments, market trends and opportunities, and any further data you may need to thrive in the pediatric vaccines industry. This pediatric vaccines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06241821/?utm_source=GNW

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