Pediatric Vaccine Market Demand, Scope and Future Estimation until 2026
Posted by Akshay Solanki on December 2nd, 2021
According to a new report published by Future Market Insights titled “Pediatric Vaccine Market: Global Industry Analysis & Opportunity Assessment, 2016 – 2026”, in terms of revenue, the global Pediatric vaccine market is expected to increase at 12.2% CAGR during the forecast period 2016-2026. The global Pediatric vaccine market is expected to reach US$ 27.97 Bn in 2016.
Pediatric vaccine market is a billion dollar market accounting for a substantial proportion of healthcare expenditure in the recent times. The Pediatric vaccine market is segmented according to indication, technology and vaccine type. According to the indication, the Pediatric vaccine market 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 Pediatric vaccine market is segmented into monovalent and multivalent vaccines.
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A slew of routine immunisation initiatives rolled out by the government and private agencies has broadened the market for the Pediatric 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 Pediatric vaccine market. As per the report of WHO (World Health Organization), the global spending on immunisation soared from US.4 to US.9 per infant in 2014. The massive economic boom in some regions of the world is expediting the growth of the Pediatric vaccine market.
By region, North America is dominating the global Pediatric vaccine market due to improved healthcare infrastructure in this region. The North America Pediatric vaccine market 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 Pediatric 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.
Key players in the global Pediatric vaccine market include Indian Immunologicals, GlaaxoSmithKline Plc., Pfizer Inc., Sanofi, Merck & Co. Inc., Panacea Biotec, Zydus Cadila, Emergent BioSolutions Inc., Serum Institute of India Pvt. Ltd., and Bharat Biotech. The growth of Pediatric vaccine market is attributed to the development in the research by key players in the field, for instance, 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 Pediatric vaccine market.
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About the AuthorAkshay Solanki
Joined: December 29th, 2020
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