Increasing Need to Eliminate Various Diseases Fuels Demand for Paediatric Vaccine Market to reach a valuation of USD 184,706.7 Million by 2033

The paediatric vaccine market valuation to USD 54,130.1 million in 2023. The growth of the market is expected to be impressive with an estimated CAGR of 13.1% through 2033. The market is expected to reach a valuation of USD 184,706.7 million by 2033.

With rising awareness of the risks faced by children, paediatric vaccines are being increasingly sought by people around the world. The paediatric vaccine market is expected to grow exponentially as people become conscious of the need to eliminate the threat of various diseases as early as they can. The increase in population all over the world only multiplies the demand for paediatric vaccines as the number of children in need of vaccines increases.

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High costs of vaccines pose a major challenge for manufacturers of paediatric vaccines. Specifically, high investments are required for research, trial, development, and maintenance of vaccines, which acts as a financial constraint. The paediatric vaccine market also faces challenges in expanding to low-income and mid-income regions. It is difficult for people residing in these regions to get access to high-cost vaccines.

However, paediatric vaccine suppliers are taking steps toward making vaccines widely available. Financial backing from governments and private institutions is also helping paediatric vaccine manufacturers to overcome the market challenges.

“The onset of the COVID-19 pandemic highlighted the need for paediatric vaccines. Technological innovations are fueling the development of vaccines to prevent various diseases. Apart from the COVID-19 vaccine, new vaccines are being developed to combat pneumonia and bronchitis among children, fueling growth in the market,” says an analyst at FMI.

The multivalent vaccine market is also growing steadily, as new vaccines of this type are getting approval from health authorities.

Key Takeaways from the Cultured Meat Market

• The paediatric vaccine market is expected to reach a valuation of USD 184,706.7 million by 2033.
• North America and Europe are the leaders in the market and held 24.3% and 26.1% share of the global market respectively in 2022.
• The growth in the Asia-Pacific market is predicted to be prolific as China and India held a share of 19.6% and 19.2% respectively in 2022.
• The United Kingdom held a share of 16.1% of the global market in 2022.
• Monovalent vaccines rule the roost in vaccine types, as they accounted for a 73.6% share of the market in 2022.
• Among end users, institutional health centres are by far the leaders, with a 72.9% market share in 2022.

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Competition Analysis of the Paediatric Vaccine Market

Paediatric market suppliers are increasingly seeking market strategies like mergers, acquisitions, partnerships, and collaborations. With the help of these strategies, they get a wider outreach and are also able to get the desired funding.

Recent Developments in the Paediatric Vaccine market

• On June 30, 2023, SK Bioscience Ltd. and Sanofi Pasteur SA reported positive data from their study of the 21-valent pneumococcal conjugate vaccine (PCV) vaccine.
• In May 2023, vaccines from companies GSK plc and Pfizer Inc. were approved for respiratory syncytial virus (RSV) treatment by the FDA. These are the first vaccines approved by the FDA for RSV treatment. Additionally, Meissa Vaccines Inc. has also reported positive results from trials of its RSV vaccine.
• On 31 August 2022, Pfizer Inc. and BioNTech SE announced that their COVID-19 booster dose vaccine got approval by the FDA for people aged 12 years and above.

Key Companies in the Paediatric Vaccine Market

• GlaxoSmithKline Plc
• Merck & Co. Inc
• Pfizer Inc.
• Sanofi SA
• Panacea Biotec
• Zydus Cadila
• Emergent BioSolutions Inc
• Serum Institute of India Pvt. Ltd.
• Bharat Biotech and Indian Immunological
• Catalent Inc
• Robinson Pharma Inc.
• Hunan Er-Kang Pharmaceutical Co. Ltd.
• Procaps
• CAPTEK Softgel International Inc

Key segments

By Indication:

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

By Technology:

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

By Vaccine:

• Monovalent Vaccines
• Multivalent Vaccines

By End-use Sector:

• Hospital Pharmacies
• Retail Pharmacies
• Institutional Health Centres

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)

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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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