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Pediatric Vaccines Market Trends

Report ID: GMI10161
Published Date: Jul 2024
Report Format: PDF

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Pediatric Vaccines Market Trends

The rising prevalence of infectious and chronic disease in children significantly fuels the growth of the market. Infectious diseases such as measles, mumps, rubella, and pertussis pose serious health threats to children, driving demand for vaccines to prevent these illnesses and curb potential outbreaks.

For instance, as per the report published by National Foundation for Infectious Disease in September 2023, it is estimated that an average of 20,000 children under the age of 5 are hospitalized due to flu complications each year. Thus, the rising prevalence of infectious disease globally increases the demand for pediatric vaccines that will boost the market for pediatric vaccines.

Further, increased awareness and education pertaining to the benefits of vaccination in preventing complications associated with these diseases contribute to higher vaccination rates and sustained market growth.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global pediatric vaccines market was valued at USD 48.1 billion in 2023 and will grow at 8.9% CAGR over 2024-2032, driven by the rising prevalence of infectious and chronic diseases among children.

The multivalent pediatric vaccines industry held a revenue of USD 30 billion in 2023 and will expand rapidly through 2032, as they protect against multiple diseases with a single injection, making them highly desirable for comprehensive disease prevention.

North America pediatric vaccines market secured a 48.2% revenue share in 2023 and will expand through 2032, owing to strong presence of major pharmaceutical and biotechnology companies, driving innovation and development of new vaccines.

Astellas Pharma, Inc, AstraZeneca Plc, CSL Limited, Daiichi Sankyo Company Limited, Emergent BioSolutions, Inc, GlaxoSmithKline Plc, Grifol SA, Meissa Vaccines, Inc, Merck & Co. Inc, and Panacea Biotec among others.