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IMARC Group’s report titled “Pediatric Vaccines Market Report by Type (Multivalent, Monovalent), Technology (Conjugate, Live Attenuated, Inactivated, Subunit, Toxoid, and Others), Application (Infectious Disease, Cancer, Allergy, and Others), and Region 2024-2032”. The global pediatric vaccines market size reached US$ 37.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 70.3 Billion by 2032, exhibiting a growth rate (CAGR) of 7.26% during 2024-2032.
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Factors Affecting the Growth of the Pediatric Vaccines Industry:
Increasing Birth Rates and Childhood Population:
The rising number of birth rates is catalyzing the demand for pediatric vaccines. Countries with large pediatric populations, such as India and China, are key contributors to market growth as the demand for vaccines naturally rises with the increasing number of newborns and young children. In these regions, the need for immunization is critical for managing public health, especially in densely populated areas where the risk of disease transmission is higher. Additionally, the increasing awareness among parents about the importance of immunization to protect against illnesses is bolstering the market growth.
Technological Advancements in Vaccine Development:
Innovations, such as recombinant deoxyribonucleic acid (DNA) technology, messenger ribonucleic acid (mRNA) vaccines, and improved adjuvant systems, benefit in enhancing vaccine efficacy, safety, and stability. These technologies enable the development of combination vaccines that protect against multiple diseases with a single injection, reducing the number of shots required and improving compliance among parents and healthcare providers. Besides this, new delivery systems, such as needle-free injections and oral vaccines, make the vaccination process less invasive and more acceptable, especially for children.
Expansion of Immunization Programs:
The global expansion of immunization programs, particularly in developing countries, is a major driver of the pediatric vaccines market. Governing agencies and international organizations are working to increase the reach of these programs, ensuring that more children have access to life-saving vaccines. This expansion is often supported by funding from global health initiatives, which provides financial support to lower-income countries to improve vaccine coverage. These programs focus on integrating new vaccines into national immunization schedules, broadening the scope of protection for children against a wider range of diseases.
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Leading Companies Operating in the Global Pediatric Vaccines Industry:
Abbott Laboratories
Bio-Med Private Limited
Daiichi Sankyo Company Limited
GSK plc
Indian Immunologicals Limited (National Dairy Development Board)
Merck & Co. Inc.
Mitsubishi Tanabe Pharma Corporation (Mitsubishi Chemical Holdings Corporation)
Panacea Biotec Limited
Pfizer Inc.
Sanofi S.A.
Sinovac Biotech Ltd.
Pediatric Vaccines Market Report Segmentation:
By Type:
Multivalent
Monovalent
Multivalent represents the largest segment as it provides protection against multiple diseases through a single vaccine injection.
By Technology:
Conjugate
Live Attenuated
Inactivated
Subunit
Toxoid
Others
Conjugate holds the biggest market share due to the rising focus on enhancing the immune response against certain bacteria.
By Application:
Infectious Disease
Cancer
Allergy
Others
On the basis of the application, the market has been divided into infectious disease, cancer, allergy, and others.
Regional Insights:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
North America enjoys a leading position in the pediatric vaccines market on account of the increasing awareness among parents and caregivers about the importance of immunization.
Global Pediatric Vaccines Market Trends:
The rising awareness among individuals about the critical role of vaccinations in preventing serious childhood diseases is impelling the market growth. Health organizations, such as the World Health Organization (WHO) and United Nations Children's Fund (UNICEF), are launching extensive immunization programs aimed at educating parents about the importance of pediatric vaccines. These initiatives often include mass vaccination campaigns, subsidies, and mandatory immunization laws that ensure higher coverage rates. Additionally, partnerships between public and private sectors help in the distribution of vaccines to even the most remote areas.
Furthermore, the high prevalence of diseases like measles, rotavirus, and influenza is highlighting the need for effective vaccination.
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