The pediatric vaccine market is expected to show a lucrative growth at a CAGR of around 9.0% during the forecast period 2020-2026. In the scope of the report, a pediatric is a person under 18 years of age. Major factors for the growth of the market include rising government and non-governmental funding to increase global vaccination programs, and increasing healthcare expenditure in the emerging economies coupled with rising awareness toward vaccination for children among people. Significant control over some diseases has been obtained all across the globe from the pediatric vaccines including polio, however vaccines for many diseases are under development including dengue, and malaria, which once approved will provide significant growth to the market. 

As per the UN population division, each year around 140 million children will born between 2019 and 2026. The share of children's birth in the emerging economies will be larger as compared to developed economies and where the need for the vaccine will be higher. These children are prone to various diseases and mostly will be vaccinated under government programs or self-funding from the guardian. As per the WHO, during 2011-2020, around 24.6 to 25.8 million future fatalities were averted due to vaccination all across the globe. 

However, in 2020, the COVID-19 is impacting the growth of the pediatric vaccine market. To prevent the spread of COVID-19, the lockdowns were announced and a hurdle in the vaccination program has been witnessed all across the globe. Due to this, a negative impact can be witnessed due to the non-availability of vaccines or the delay of immunizations in pediatrics in 2020. Besides, a jump in the pediatric immunization for COVID-19 will be witnessed in the next couple of years. 

Market Segmentation

The global pediatric vaccine market is segmented based on vaccine type and application. Based on the vaccine type, the market is divided into live-attenuated vaccines, inactivated vaccines, recombinant vaccines, and others. Inactivated vaccines are expected to have a major market share during the forecast period all across the globe. By application, the market is bifurcated into monovalent vaccines and multivalent vaccines. Monovalent vaccines are used against a single disease whereas multivalent vaccines are used against a combination of diseases. Multivalent vaccines are expected to have a major market share during the forecast period. 

Global Pediatric Vaccine Market Share by Vaccine Type, 2019 (%)

Regional Outlook

The global pediatric vaccine market is segmented based on four major regions, including North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Developed economies of North America and Europe hold a major market share during the forecast period, owing to government programs for pediatric vaccination. For instance, in the US, pediatrics get vaccination under the Vaccines for Children (VFC) program at no cost of the vaccine. Moreover, Asia-Pacific is expected to show lucrative growth in the market, owing to increasing healthcare expenditure and awareness related to the vaccination in the region. 

A number of non-governmental agencies invest in the rest of the world, especially in African countries for vaccination which is expected to provide significant growth to the region. GAVI Alliance is a major non-governmental organization working in the field of pediatric vaccination in the emerging economies of Asia-Pacific, Africa, and Latin America. The organization has received a donation of $20.9 billion between the years 2000-2020. Countries such as UK, the US, Norway are the major contributor to the organization whereas Bill and Melinda Gates Foundation is the major private funder. The organization has saved around 13 million future fatalities from 2000-2018 by providing vaccination to 760 million children including 66 million children in 2018 alone.

Global Pediatric Vaccine Market Growth, by Region 2020-2026

Market Players Outlook

The pediatric vaccine market is consolidated and a few major market players hold 65-75% of the global market share. The major players operating in the market include Sanofi SA, GlaxoSmithKline PLC, CSL Ltd., Merck & Co., Inc., and Pfizer Inc. The market players are adopting growth strategies including mergers and acquisitions, product launches, and partnerships and collaborations, to gain a competitive advantage in the market. For instance, in August 2018 Emergent BioSolutions Inc., acquired PaxVax, a US-based company for $270 million. PaxVax works mainly in specialty vaccines against existing and emerging infectious diseases. PaxVax has the US FDA approval of Vivotif oral capsule vaccine against Typhoid for the children above 6 years. 

The Report Covers

• Market value data analysis of 2018 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global pediatric vaccine market. 
• Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.