by The global pediatric vaccines market is estimated to play a crucial role in improving overall public health worldwide. Pediatric vaccines help provide protection to children from deadly and debilitating infectious diseases such as polio, diphtheria, pertussis, tetanus, pneumococcal disease, rotavirus gastroenteritis, among others. Vaccines essentially work by priming the immune system of the vaccinated individual to recognize and combat specific pathogens/diseases, thereby preventing infectious diseases.
The Global pediatric vaccines market is estimated to be valued at US$ 52093.48 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the pediatric vaccines market are GlaxoSmithKline Plc., Merck and Co., Inc., Pfizer Inc., Sanofi S.A., Panacea Biotec, Zydus Cadila, Emergent BioSolutions Inc., Serum Institute of India Pvt. Ltd., Bharat Biotech, and Indian Immunologicals Ltd. The high risk of infectious diseases among children along with government programs to promote immunization has led to increased demand for pediatric vaccines. Growing awareness among parents and guardians regarding the importance of vaccinating children is expected to drive the market going forward. Furthermore, rising government initiatives to prevent infectious diseases are also boosting the global pediatric vaccines market. Key players are focusing on expansion plans and new product launches to strengthen their geographic presence globally.
Market key trends
One of the key Pediatric Vaccines Market Trends is increasing research and development activities. Manufacturers are increasingly investing in R&D activities to develop advanced vaccines with high efficiency and safety. This is prompting them to come up with novel vaccination technologies and vaccine combinations. Apart from this, fast track regulatory designations given to new pediatric vaccines in developed markets is speeding up product approval times. This is encouraging manufacturers to invest in developing vaccines for infectious diseases with high public health need and commercial potential.
Porter’s Analysis
Threat of new entrants: Low capital requirements and technology needed to enter the pediatric vaccine market. However, R&D investment and credibility acts as a barrier.
Bargaining power of buyers: High as buyers have many existing suppliers to choose from. They can negotiate for price and quality.
Bargaining power of suppliers: Moderate as buyers have a variety of vaccine manufacturers to choose from. Suppliers have differentiated products.
Threat of new substitutes: Low as there are limited substitutes for pediatric vaccines which are necessary for a child’s wellbeing.
Competitive rivalry: Intense as major players compete on innovation, geographic expansion, and development of new combo vaccines.
Geographical Regions
North America holds the largest share in the pediatric vaccines market in terms of value due to the presence of major players and strong reimbursement policies. The United States contributes significantly owing to high awareness levels and recommended vaccination schedules for children.
Asia Pacific is expected to grow at the fastest rate during the forecast period. Rapid economic growth, rising healthcare access and expenditure, growing population and availability of low-cost vaccines from domestic players are driving the regional market. China and India have a high birth rate and introduction of new vaccines in national immunization programs will boost the pediatric vaccines industry.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
