Pediatric Vaccine Market Opportunities and Strategies to 2033

This report describes and explains the pediatric vaccine market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global pediatric vaccine market reached a value of nearly $41.16 billion in 2023, having grown at a compound annual growth rate (CAGR) of 6.71% since 2018. The market is expected to grow from $41.16 billion in 2023 to $59.31 billion in 2028 at a rate of 7.58%. The market is then expected to grow at a CAGR of 8.08% from 2028 and reach $87.46 billion in 2033.

Growth in the historic period resulted from increasing birth rates in developing regions, increasing incidence of pediatric diseases, government and NGO funding, increasing mandatory vaccination policies. Factors that negatively affected growth in the historic period was high healthcare costs.

Going forward, increasing healthcare expenditure, rising incidence of chronic diseases among children, new vaccination awareness campaigns will drive the growth. Factor that could hinder the growth of the pediatric vaccine market in the future include shortage of healthcare professionals and supply chain disruptions.

The pediatric vaccine market is segmented by vaccine type into monovalent vaccines and multivalent vaccines. The monovalent market was the largest segment of the pediatric vaccine market segmented by vaccine type, accounting for 70.69% or $29.09 billion of the total in 2023. Going forward, the multivalent segment is expected to be the fastest growing segment in the pediatric vaccine market segmented by vaccine type, at a CAGR of 8.31% during 2023-2028.

The pediatric vaccine market is segmented by technology into live attenuated, inactivated, toxoid, conjugate and other technologies. The conjugate market was the largest segment of the pediatric vaccine market segmented by technology, accounting for 37.08% or $15.26 billion of the total in 2023. Going forward, the other technologies segment is expected to be the fastest growing segment in the pediatric vaccine market segmented by technology, at a CAGR of 7.75% during 2023-2028.

The pediatric vaccine market is segmented by application into infectious disease, allergy, cancer, pneumococcal disease, influenza, measles, mumps and rubella and other applications. The infectious disease market was the largest segment of the pediatric vaccine market segmented by application, accounting for 35.69% or $14.69 billion of the total in 2023. Going forward, the measles, mumps and rubella segment is expected to be the fastest growing segment in the pediatric vaccine market segmented by application, at a CAGR of 9.19% during 2023-2028.

North America was the largest region in the pediatric vaccine market, accounting for 41.42% or $17.05 billion of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the pediatric vaccine market will be Asia Pacific and Africa where growth will be at CAGRs of 9.05% and 8.25% respectively. These will be followed by Middle East and South America where the markets are expected to grow at CAGRs of 7.94% and 7.90% respectively.

The global pediatric vaccine market is highly concentrated, with large players in the market. The top ten competitors in the market made up to 60.85% of the total market in 2023. The market concentration can be attributed to the presence of large players in different geographies. Merck & Co. Inc. was the largest competitor with a 30.82% share of the market, followed by SANOFI S.A. with 7.67%, Pfizer, Inc. with 6.95%, Seqirus (CSL Limited) with 3.62%, GlaxoSmithKline plc with 3.58%, Johnson & Johnson with 2.79%, Daiichi Sankyo Co. Ltd. with 1.96%, Novavax, Inc. with 1.24%, AstraZeneca Plc. with 1.11% and Novartis AG with 1.10%.

The top opportunities in the pediatric vaccine market segmented by vaccine type will arise in the monovalent segment, which will gain $12.22 billion of global annual sales by 2028. The top opportunities in the pediatric vaccine market segmented by technology will arise in the conjugate segment, which will gain $6.83 billion of global annual sales by 2028. The top opportunities in the pediatric vaccine market segmented by application will arise in the infectious disease segment, which will gain $5.5 billion of global annual sales by 2028. The pediatric vaccine market size will gain the most in the USA at $6.37 billion.

Market-trend-based strategies for the pediatric vaccine market include focusing on developing new vaccines, focus on the development of conjugate vaccines to improve the immune response in children and focusing on new vaccines.

Player-adopted strategies in the pediatric vaccine market include focus on expand operations by new vaccine approvals and strengthening its market position through strategic partnerships.

To take advantage of the opportunities, the analyst recommends the pediatric vaccine companies to focus on developing targeted pediatric vaccines, focus on expanding conjugate vaccine development, focus on expanding pediatric vaccine portfolios, focus on multivalent pediatric vaccines, focus on live attenuated pediatric vaccines, expand in emerging markets, focus on expanding distribution channels to reach broader demographics, focus on pricing strategies for pediatric vaccine companies, leverage digital channels, strengthen healthcare provider outreach and focus on infectious disease market and pediatric vaccine development.