Global Pediatric Vaccines Market, By Vaccine Type (Pneumococcal Vaccine, DTP Vaccine, Rotavirus Vaccine, MMR Vaccine, Polio Vaccine, Influenza Vaccine, Hepatitis B Vaccine, Meningococcal Vaccine, Hib Vaccine, Varicella Vaccine), By Technology (Live or Attenuated Vaccine, Inactivated or Killed Vaccine, Toxoid Vaccine, Conjugate Vaccine, Subunit Vaccine, Recombinant Vaccine), By Type (Monovalent Vaccine and Multivalent Vaccine), By Distribution Channel (Government and Private), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 46,424.3 Million in 2023 and is expected to exhibit a CAGR of 5.93% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing government immunization programme by regularity authorities is expected to drive the market growth over the forecast period. For instance, on June 21, 2022, The Global Alliance for Vaccines and Immunization (Gavi), a Vaccine Alliance, launched the Zero-Dose Immunization Programme (ZIP), a new innovative initiative that will provide help with up to US$ 100 million to identify and to reach zero-dose children living in displaced communities, and in fragile and conflict settings. Zero-dose children are those that have not received a single shot of a routine vaccine.
Global Pediatric Vaccines Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), that first appeared in Wuhan, (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and has a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
The COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems regarding transportation of drugs from one place to another.
The COVID-19 pandemic and lockdowns in various countries across the globe have significantly impacted the supply and demand chain in the healthcare sector.
However, according to vaccine update published by public health England (PHE) in May 2021, during April 2020 and May 2020, PHE conducted an online survey and interviews to find and experiences of accessing routine childhood vaccinations during the first wave of the coronavirus (COVID-19) pandemic, and during the first national lockdown. During the year 2019 in the pandemic, vaccination counts were 20% in 2019 in Europe region, before recovering in mid-April. This study aimed to identify barriers in accessing routine childhood vaccination during the early phase of the pandemic in Europe.
Global Pediatric Vaccines Market: Key Developments
According to a UNICEF article published on June 16, 2020, an agreement was signed between UNICEF, Gavi's procurement partner, and the Serum Institute of India (SII, a biotechnology and biopharmaceuticals company,), will provide pneumococcal conjugate vaccine in low income countries around the world for US$ 2 per dose. . The new price is 43% lower than the original Gavi price of US$ 3.50 for pneumococcal conjugate vaccine.
Browse 32 Market Data Tables and 36 Figures spread through 208 Pages and in-depth TOC on “Global Pediatric Vaccines Market ”- Forecast to 2030 By Vaccine Type (Pneumococcal Vaccine, DTP Vaccine, Rotavirus Vaccine, MMR Vaccine, Polio Vaccine, Influenza Vaccine, Hepatitis B Vaccine, Meningococcal Vaccine, Hib Vaccine, Varicella Vaccine), By Technology (Live or Attenuated Vaccine, Inactivated or Killed Vaccine, Toxoid Vaccine, Conjugate Vaccine, Subunit Vaccine, Recombinant Vaccine), By Type (Monovalent Vaccine, Multivalent Vaccine), By Distribution Channel (Government, Private), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/pediatric-vaccines-market-1708
Key Takeaways of the Global Pediatric Vaccines Market:
- Among Vaccine Type, influenza vaccine segment is estimated to hold a dominant position in the global pediatric vaccines market over the forecast period, owing to increasing product launches by the key market players in order to expand their product portfolio. For instance, inactivated vaccines uses killed version of the germ that causes a disease such as Hepatitis A, Flu (shot only), Polio (shot only), and Rabies. Subunit, recombinant, polysaccharide, and conjugate vaccines uses specific pieces of the germ like its protein, sugar, or capsid. For instance, in 2020, Abbott, A company in diagnostics, medical devices, nutrition and branded generic pharmaceuticals has launched a new inactivated quadrivalent vaccine for influenza in India. It is the first kind of a vaccine that offers protection against various types of virus strains. It is administered as 0.5 mL, and is approved to be used in children below 3 years of age.
- Among region, North America is expected to be the dominant region in the global pediatric vaccines market, owing to the increasing research and development for product and clinical trials for improvement is expected to drive the global pediatric vaccines market over the forecast period. For instance, on June 1, 2021, The National Institutes of Health (NIH) has begun a clinical trial of FluMos-v1, a universal influenza vaccine candidate that uses self-assembling nanoparticle scaffolds to display part of the influenza virus hemagglutinin (HA) protein to stimulate antibodies against multiple influenza virus strains. At the National Institutes of Health Clinical Center in Bethesda, Maryland, a Phase 1 trial started to examine the safety and immunogenicity of an experimental nanoparticle influenza vaccine designed to give long-term protection against several flu virus strains has commenced.
- Major players operating in the global pediatric vaccines market include GlaxoSmithKline Plc., Merck & Co., Inc., Pfizer Inc., Sanofi S.A., Panacea Biotec, Zydus Cadila, Emergent BioSolutions Inc., Serum Institute of India Pvt. Ltd., Bharat Biotech, and Indian Immunologicals Ltd.
