The global pediatric vaccines market Growth Accelerated by Rising Government Initiatives Towards Immunization Programs

 


The global pediatric vaccines market accounts for various products that help in immunizing children and infants against dangerous diseases such as polio, diphtheria, pertussis, and many more. Pediatric vaccines offer protection for newborns till they develop natural immunity. There has been a rise in various government initiatives that aim to promote the immunization of children on a large scale.

The global pediatric vaccines market is estimated to be valued at US$ 46,424.3 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growth of the pediatric vaccines market is highly accelerated by rising government initiatives towards immunization programs across major countries. Various governmental agencies are focusing on strengthening routine immunization by improving infrastructure and services. For instance, the National Health Mission in India aims to increase full immunization coverage from 62% to 90% by 2022. Initiatives like Mission Indradhanush have helped improve vaccination rates. Furthermore, governments are increasingly investing in new vaccine procurement to include more preventable diseases under routine immunization. This helps drive higher demand for pediatric vaccines over the forecast period.


Segment Analysis

The global pediatric vaccines market is segmented by product type, technology, diseases indication end user. Based on product type, the market is divided into monovalent and multivalent vaccines. The multivalent vaccine segment dominates the market as these vaccines protect against multiple diseases in one shot. This reduces the number of injections required for complete vaccination of children.

Key Takeaways
The global pediatric vaccines market is expected to witness high growth over the forecast period of 2023 to 2030. The global pediatric vaccines market is estimated to be valued at US$ 46,424.3 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.

Regional analysis:
North America is projected to dominate the pediatric vaccines market during the forecast period. This is attributed to rising awareness about vaccination and availability of vaccines through vaccination programs in countries like the US and Canada. Asia Pacific is expected to grow at the fastest pace due to large population base, improving healthcare infrastructure and rising focus of government on immunization in countries like India and China.

Key players:
Key players operating in the pediatric vaccines market are GlaxoSmithKline Plc., Merck & Co. Inc., Pfizer Inc., Sanofi, Panacea Biotec, Zydus Cadila, Serum Institute of India Pvt. Ltd., Bharat Biotech.

GlaxoSmithKline Plc. dominates the market with its product portfolio comprising vaccines for diseases like diphtheria, tetanus, whooping cough, hepatitis B, Hib, and pneumococcal. Merck & Co. Inc. offers vaccines for measles, mumps, rubella and varicella. Pfizer Inc. has vaccines for pneumococcal disease. Sanofi manufactures vaccines for polio, diphtheria, tetanus, pertussis, hepatitis A and B, haemophilus influenza type B and pneumococcal. These companies focus on continuous innovations to develop more effective multivalent vaccines.

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