US-Backed Innovations Set the Stage for North American Pediatric Vaccines Industry 2023 To 2033 | FMI Findings

In a significant development, the United States continues to assert its leadership in the North American Pediatric Vaccines Industry, maintaining a substantial market share of 17.9% throughout 2022.

This milestone is underpinned by a robust enhancement of healthcare facilities across the country, opening up new avenues for the efficient distribution of pediatric vaccines. Simultaneously, there has been a notable increase in public awareness regarding the critical role of vaccinations in safeguarding the health of children. The rising consciousness among the American populace about the potential risks posed by various diseases to children has led to an increased willingness to embrace vaccines as a protective shield.

Furthermore, the United States has witnessed a surge in investments in research and development, bolstering the pediatric vaccines sector. This concerted effort to advance research and innovation is pivotal in fortifying the nation’s commitment to the well-being of its younger generations.

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Future Market Insights, a leading research firm, has revealed promising prospects for the global paediatric vaccine Industry. According to their latest study, the market is poised to surge from an anticipated value of $48.8 billion at the close of 2022 to a remarkable $160.7 billion by 2032, showcasing a compelling Compound Annual Growth Rate (CAGR) of 12.7%.

In a significant development, the pneumococcal vaccine, by indication, is projected to maintain its dominance in 2021, boasting an impressive market share of approximately 31.9%.

The recent report titled “Paediatric Vaccine MIndustry: Global Industry Analysis & Opportunity Assessment, 2016 – 2026” by Future Market Insights underscores the market’s robust growth. Over the forecast period of 2016-2026, the global paediatric vaccine market is expected to witness a robust 12.2% CAGR in terms of revenue, reaching an estimated $27.97 billion in 2016.

Paediatric vaccine market is a billion dollar market accounting for a substantial proportion of healthcare expenditure in the recent times. The paediatric vaccine market is segmented according to indication, technology and vaccine type. According to the indication, the paediatric vaccine mIndustry is sub segmented into pneumococcal, DTP, rotavirus, influenza, meningococcal, hepatitis B, Hib, MMR and polio. According to technology the market is further segmented into live or attenuated, inactivated or killed, toxoid, conjugate, subunit and recombinant vaccines. By vaccine type, the global paediatric vaccine Industry is segmented into monovalent and multivalent vaccines.

A slew of routine immunisation initiatives rolled out by the government and private agencies has broadened the market for the paediatric vaccines. A new wave of funds pumped into the market by different government and private players to cork the rise of the child deaths across the globe has also opened a new window of opportunity for the paediatric vaccine Industry. As per the report of WHO (World Health Organization), the global spending on immunisation soared from US$21.4 to US$26.9 per infant in 2014. The massive economic boom in some regions of the world is expediting the growth of the paediatric vaccine Industry.

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Segmentation analysis

• By indication, pneumococcal segment accounted for higher revenue share in global paediatric vaccines as compared to other product segments. The pneumococcal segment is expected to reach a value of US$ 31.58 Bn by 2026, reflecting a CAGR of 14.4% over the forecast period. The growth of pneumococcal segment is attributed to the increasing incidence of infectious diseases.

• In terms of revenue, Hib vaccine segment is the second most growing segment and is expected to reach a value of US$ 13.49 Bn by 2026, growing at a CAGR of 13.4%. Hepatitis B and meningococcal segment are expected to show double-digit CAGR growth in the forecast period contributing to the growth of global paediatric vaccine market.

• By technology, conjugate segment accounted for highest revenue share in global paediatric vaccine Industry as compared to live or attenuated segment. The conjugate segment is expected to reach a value of US$ 32.09 Bn by 2026, reflecting a CAGR of 14.8% over the forecast period. This is expected to be closely followed by the growth of pneumococcal and meningococcal vaccines in this segment

• By end user, institutional health centres account for higher demand for paediatric vaccine as compared to other end user segments such as hospital pharmacies and retail pharmacies. The strong growth in institutional health centres can be attributed to increasing government interventions in immunisation programs in order to improve vaccine coverage. Institutional health centres are expected to register highest CAGR of 13.8% over the forecast period.

Regional analysis

By region, North America is dominating the global paediatric vaccine Industry due to improved healthcare infrastructure in this region. The North America paediatric vaccine Industry is expected to be valued at US$ 20.15 Bn by 2026 growing at a CAGR for 11.0%. In addition to North America, demand for paediatric vaccines has been significantly growing in Western Europe and APEJ. APEJ is expected to grow at a CAGR for 14.9% over the forecast period and is expected to dominate the market by 2026 by generating revenue of US$ 22.69 Bn and revenues in Western Europe are anticipated to grow by 11.2%. Middle East and Africa is expected to grow at a CAGR of 12.6% and this growth is anticipated by growth government intervention for immunisation by carrying out national level immunisation campaigns and also disease specific immunisation campaigns.

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Key players in the global paediatric vaccine Industry include

• Indian Immunologicals,
• GlaaxoSmithKline Plc.,
• Pfizer Inc.,
• Sanofi, Merck & Co. Inc.,
• Panacea Biotec,
• Zydus Cadila,
• Emergent BioSolutions Inc.,
• Serum Institute of India Pvt. Ltd.,
• Bharat Biotech.

Key players in the field, for instance, attribute the growth of pediatric vaccine market to the development in the research in February 2016, GSK submitted US regulatory submission for expanding the indication of FLuLaval Quadrivalent, influenza vaccine, for infants more than 6 months. These developments will boost the growth of the global paediatric vaccine Industry.

Market Segmentation

Technology

• Live or Attenuated Vaccine
• Inactivated or Killed Vaccine
• Toxoid Vaccine
• Conjugate Vaccine
• Subunit Vaccine
• Recombinant Vector Vaccine

Indication

• Pneumococcal Conjugate Vaccine
• DTP Vaccine
• Influenza
• Meningococcal Vaccine
• Polio Vaccine
• Rotavirus Vaccine
• MMR Vaccine
• Varicella Virus Vaccine

End User

• Hospital Pharmacies
• Retail Pharmacies
• Institutional Health Centres

Vaccine Type

• Monovalent Vaccines
• Multivalent Vaccines

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Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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