11-Dec-2020

Pediatric Vaccine Market Size to grow at a CAGR of 14.4% by 2027 | Coherent Market Insights

The Centers for Disease Control and Prevention (CDC) recommends pneumococcal conjugate vaccine for all children younger than 2 years old. Other vaccines for infants include, Hepatitis B vaccine, flu vaccine, and human papillomavirus vaccine.

The global pediatric vaccine market is estimated to account for US$ 37,567 Mn in terms of value in 2019 and is expected to reach US$ 98,859 Mn by the end of 2027.

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Global Pediatric Vaccine Market: Drivers

Increasing funding related to vaccines is expected to boost growth of the global pediatric vaccines market over the forecast period. For instance, in January 2020, Codagenix, a company focused on R&D of vaccines and viral therapies raised US$ 20 million in a new round of financing led by Adjuvant Capital.

Global Pediatric Vaccine Market: Opportunities

Players in the market may focus on targeting developing regions for launching essential vaccines. The prevalence of tuberculosis is high in such regions. Moreover, increasing resistance of antibiotics used to treat tuberculosis is also expected to offer lucrative growth opportunities for players in the market.

Global Pediatric Vaccine Market: Restraints

Mistrust regarding vaccination is high in some countries, which is expected to hinder growth of the market. For instance, according to The Wellcome Trust’s Wellcome Global Monitor (2019), Gabon (26%), Togo (25%), Russia (24%), Austria (21%), and Iceland (21%) were the leading countries with mistrust of vaccine safety.

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Key Takeaways:

Pneumococcal Vaccine sub segment in the vaccine type segment in global pediatric vaccines market was valued at US$ 10,299.7 Mn in 2018 and is expected to reach US$ 36,120.1 Mn by 2027 at a CAGR of 14.4% during the forecast period.

Increasing partnership among Global Alliance for Vaccines and Immunization (GAVI) and key vendors to deliver pneumococcal vaccines in emerging countries is expected to be a significant growth factor for the market. For instance, in March 2016, GSK (Glaxo Smith Kline) announced the introduction of pneumococcal vaccine at the lowest price – US$ 3.05 from 2017, a reduction of 10% from the 2016 price (US$ 3.40).

The conjugate vaccines segment held dominant position in the global pediatric vaccine market in 2018, accounting for 30.0% share in terms of value, followed by live vaccines and inactivated vaccine, respectively.

Increasing approval for meningococcal conjugate vaccine candidates is expected to boost growth of the global conjugate vaccine market. For instance, in December 2016, Pfizer Inc. received an European Commission (EC) approval for its expanded indication for Nimenrix (meningococcal group A, C, W-135, and Y conjugate vaccine), which is indicated for active immunization against invasive meningococcal disease (IMD). Furthermore, development of multivalent conjugate vaccines by key players is expected to drive growth of global conjugate vaccine market. For instance, in September 2018, Pfizer, Inc. received Breakthrough Therapy designation from the U.S. Food and Drug Administration (FDA) for its 20-Valent Pneumococcal Conjugate Vaccine (20vPnC) candidate, PF-06482077.

The monovalent vaccines segment held dominant position in the global pediatric vaccine market in 2018, accounting for 76.6% share in terms of value, followed by multivalent vaccine, respectively.

Majority of the newely approved pediatric vaccines, as well as existing pediatric vaccines for different diseases are monovalent vaccines. Monovalent vaccines provide protection from an individual disease.

Market Trends

Major players in the market are focused on conducting clinical trials to expand their product portfolio. For instance, in November 2019, Takeda Pharmaceutical Company Limited announced publication of results from the primary endpoint analysis of its Phase 3 Tetravalent Immunization against Dengue Efficacy Study trial of its dengue vaccine candidate (TAK-003) in the New England Journal of Medicine.

Major players in the market are also focused on developing new vaccines. For instance, in November 2019, NewLink Genetics Corporation received the European Commission (EC) approval for marketing ERVEBO or Zaire Ebola virus vaccine V920 across 31 European countries.

Global Pediatric Vaccine Market: Competitive Landscape

Major players operating in the global pediatric vaccine market include GlaxoSmithKline Plc., Merck & Co., Inc., Pfizer Inc., Sanofi, Pancea Biotec, Zydua Cadila, Emergent BioSolutions Inc., Serum Institute of India Pvt. Ltd., Bharat Biotech, and Indian Immunologicals Ltd.

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Global Pediatric Vaccine Market: Key Developments

December 2019: Y-mAbs Therapeutics Inc. received a Rare Pediatric Disease Designation status for its GD2-GD3 vaccine for the treatment of neuroblastoma, from the U.S. FDA

December 2019: Seqirus received approval for its cell-based quadrivalent influenza vaccine FLUCELVAX QUAD for the protection against four influenza virus strains — A(H3N2), A(H1N1) and two B virus strains, from Health Canada

Segmentation:

Global Pediatric Vaccines Market, By Vaccine Type:
- Pneumonococcal Vaccine
- DTP Vaccine
- Rotavirus Vaccine
- MMR Vaccine
- Polio Vaccine
- Influenza Vaccine
- Hepatitis B Vaccine
- Meningococcal Vaccine
- Hib Vaccine
- Varicella Vaccine
Global Pediatric Vaccines Market, By Technology:
- Live or Attenuated Vaccine
- Inactivated or Killed Vaccine
- Toxoid Vaccine
- Conjugate Vaccine
- Subunit Vaccine
- Recombinant Vaccine
Global Pediatric Vaccines Market, By Type:
- Monovalent Vaccine
- Multivalent Vaccine
Global Pediatric Vaccines Market, By Distribution Channel:
- Government
- Private
Global Pediatric Vaccines Market, By Geography:
- North America
  - By Vaccine Type
    - Pneumococcal Vaccine
    - DTP Vaccine
    - Rotavirus Vaccine
    - MMR Vaccine
    - Polio Vaccine
    - Influenza Vaccine
    - Hepatitis B Vaccine
    - Meningococcal Vaccine
    - Hib Vaccine
    - Varicella Vaccine
  - By Technology:
    - Live or Attenuated Vaccine
    - Inactivated or Killed Vaccine
    - Toxoid Vaccine
    - Conjugate Vaccine
    - Subunit Vaccine
    - Recombinant Vaccine
  - By Type
    - Monovalent Vaccine
    - Multivalent Vaccine
  - By Distribution Channel
    - Government
    - Private
  - By Country:
    - U.S.
    - Canada
- Europe
  - By Vaccine Type
  - By Technology:
  - By Type
  - By Distribution Channel
  - By Country:
    - U.K.
    - Germany
    - Italy
    - France
    - Spain
    - Russia
    - Rest of Europe
- Asia Pacific
  - By Vaccine Type
  - By Technology:
  - By Type
  - By Distribution Channel
  - By Country:
    - China
    - India
    - Japan
    - ASEAN
    - Australia
    - South Korea
    - Rest of Asia Pacific
- Latin America
  - By Vaccine Type
  - By Technology:
  - By Type
  - By Distribution Channel
  - By Country:
    - Brazil
    - Mexico
    - Argentina
    - Rest of Latin America
- Middle East:
  - By Vaccine Type
  - By Technology:
  - By Type
  - By Distribution Channel
  - By Country:
    - GCC
    - Israel
    - Rest of Middle East
- Africa
  - By Vaccine Type
  - By Technology:
  - By Type
  - By Distribution Channel
  - By Country/Region:
    - Central Africa
    - South Africa
    - North Africa

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Last Updated: 11-Dec-2020