According to the latest report by IMARC Group, titled "Pediatric Vaccines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global pediatric vaccines market is expected to grow at a CAGR of
8.1% during 2023-2028. Pediatric vaccines are generally administered to children and infants that are recommended by organizations and agencies. They are an integral part of immunization that help the body become resistant to numerous disease-causing agents, such as viruses and bacteria. They are widely available in multiple forms that vary on the basis of their route of administration and children’s age and health. They include live, inactivated, conjugate, recombinant, toxoid and subunits that ensure long-lasting protection against the pathogens. Some of the commonly administered pediatric vaccines are Hepatitis B, Rotavirus, Pneumococcal conjugate, Influenza, Measles, Varicella, Tetanus and Meningococcal.
Global Pediatric Vaccines Market Trends:
The global market is primarily driven by the growing prevalence of chronic diseases among the pediatric population. This can be attributed to the increasing birth rates and the rising awareness among parents. Along with this, numerous initiatives undertaken by various government and non-government organizations of several countries to raise awareness regarding the importance of pediatric vaccines and conduct vaccination drives are creating a positive market outlook. In addition to this, the growing investments by public and private agencies in extensive research and development (R&D) activities in the field of life sciences and genetic engineering are impacting the market growth favorably. Furthermore, continuous technological advancements in the vaccination production processes are significantly supporting the product demand on the global level. The market is further driven by several improvements in the supply chain processes. Other factors, including continual developments in the healthcare infrastructure, the establishment of medical facilities across rural and geographical extended locations, and continuous product innovations, are also positively influencing the market.
- On the basis of type, the market has been segmented into multivalent and monovalent.
- Based on the technology, the market has been segregated into conjugate, live attenuated, inactivated, subunit, toxoid and others.
- On the basis of the application, the market has been categorized into infectious disease, cancer, allergy and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Abbott Laboratories, Bio-Med Private Limited, Daiichi Sankyo Company Limited, GSK plc, Indian Immunologicals Limited (National Dairy Development Board), Merck & Co. Inc., Mitsubishi Tanabe Pharma Corporation (Mitsubishi Chemical Holdings Corporation), Panacea Biotec Limited, Pfizer Inc., Sanofi S.A. and Sinovac Biotech Ltd.
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