Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Centers for Disease Control and Prevention (CDC) recommends pneumococcal conjugate vaccine for all children below 2 years old. Moreover, other vaccines that are recommended for infants include Hepatitis B vaccine, flu vaccine, and human papillomavirus vaccine.
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The global pediatric vaccine market is estimated to be valued at US$ 37,567 Mn, in terms of value in 2019 and is estimated to reach US$ 98,859 Mn by the end of 2027.
Global Pediatric Vaccine Market: Drivers
The increasing number of funds related to vaccines is expected to drive growth of the global pediatric vaccines market over the forecast period. For instance, Codagenix, a company focusing on R&D of vaccines and viral therapies raised US$ 20 million in a new round of financing led by Adjuvant Capital, in January 2020.
Global Pediatric Vaccine Market: Opportunities
Major market players are focusing on targeting emerging economies for launching essential vaccines, owing to high prevalence of tuberculosis in such regions. Moreover, increasing resistance of antibiotics to treat tuberculosis is further expected to offer lucrative growth opportunities for players in the market.
Global Pediatric Vaccine Market: Restraints
However, rising mistrust about vaccination in some countries are expected to hamper growth of the market. For instance, according to The Wellcome Trust’s Wellcome Global Monitor 2019, Gabon (26%), Togo (25%), Russia (24%), Austria (21%), and Iceland (21%) were the leading countries with mistrust of vaccine safety.
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Key Takeaways:
Among vaccine type, pneumococcal vaccine segment in global pediatric vaccines market accounted for US$ 10,299.7 Mn in 2018, and is expected to reach US$ 36,120.1 Mn by 2027 exhibiting a CAGR of 14.4%, over the forecast period.
The increasing number of partnerships among Global Alliance for Vaccines and Immunization (GAVI) and key vendors to deliver pneumococcal vaccines in emerging countries is expected to drive the market growth over the forecast period. For instance, in March 2016, GSK (Glaxo Smith Kline) introduced pneumococcal vaccine at the lowest price – US$ 3.05 from 2017, a reduction of 10% from the 2016 price (US$ 3.40).
Among technology, conjugate vaccines segment held a dominant position in the global pediatric vaccine market in 2018, accounting for 30.0% market share in terms of value, followed by live vaccines and inactivated vaccine, respectively.
Moreover, increasing number of regulatory approvals for meningococcal conjugate vaccine candidates is expected to drive growth of the global conjugate vaccine market over the forecast period. For instance, in December 2016, Pfizer Inc. received European Commission (EC) approval for its expanded indication for Nimenrix (meningococcal group A, C, W-135, and Y conjugate vaccine), indicated for active immunization against invasive meningococcal disease (IMD).
Furthermore, increasing development of multivalent conjugate vaccines by key players is expected to drive growth of global conjugate vaccine market over the forecast period. For instance, Pfizer, Inc. received Breakthrough Therapy designation from the U.S. Food and Drug Administration (FDA) for its 20-Valent Pneumococcal Conjugate Vaccine (20vPnC) candidate, PF-06482077, in September 2018.
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Among type, monovalent vaccines segment held a dominant position in the global pediatric vaccine market in 2018, accounting for 76.6% market share, in terms of value followed by multivalent vaccine. Majority of the newly approved pediatric vaccines, as well as existing pediatric vaccines for different diseases are monovalent vaccines. Monovalent vaccines provide protection from an individual disease.
Market Trends
Key players in the market are focusing on conducting clinical trials to expand their product portfolio. For instance, in November 2019, Takeda Pharmaceutical Company Limited announced publication of results from the primary endpoint analysis of its Phase 3 Tetravalent Immunization against Dengue Efficacy Study trial of its dengue vaccine candidate (TAK-003) in the New England Journal of Medicine.
Major players in the market are also focusing on developing new vaccines and gaining regulatory approvals for their products. For instance, NewLink Genetics Corporation received the European Commission (EC) approval for marketing ERVEBO or Zaire Ebola virus vaccine V920 across 31 European countries, in November 2019.
Global Pediatric Vaccine Market: Competitive Landscape
Key players operating in the global pediatric vaccine market include GlaxoSmithKline Plc., Merck & Co., Inc., Pfizer Inc., Sanofi, Pancea Biotec, Zydua Cadila, Emergent BioSolutions Inc., Serum Institute of India Pvt. Ltd., Bharat Biotech, and Indian Immunologicals Ltd.
Global Pediatric Vaccine Market: Key Developments
December 2019: Y-mAbs Therapeutics Inc. received a Rare Pediatric Disease Designation status for its GD2-GD3 vaccine for the treatment of neuroblastoma, from the U.S. FDA
December 2019: Seqirus received approval for its cell-based quadrivalent influenza vaccine FLUCELVAX QUAD for the protection against four influenza virus strains — A(H3N2), A(H1N1) and two B virus strains, from Health Canada.
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Segmentation:
- Global Pediatric Vaccines Market, By Vaccine Type:
- Pneumonococcal Vaccine
- DTP Vaccine
- Rotavirus Vaccine
- MMR Vaccine
- Polio Vaccine
- Influenza Vaccine
- Hepatitis B Vaccine
- Meningococcal Vaccine
- Hib Vaccine
- Varicella Vaccine
- Global Pediatric Vaccines Market, By Technology:
- Live or Attenuated Vaccine
- Inactivated or Killed Vaccine
- Toxoid Vaccine
- Conjugate Vaccine
- Subunit Vaccine
- Recombinant Vaccine
- Global Pediatric Vaccines Market, By Type:
- Monovalent Vaccine
- Multivalent Vaccine
- Global Pediatric Vaccines Market, By Distribution Channel:
- Government
- Private
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