Pediatric vaccines are vaccines administered to children during early life. Some of the key pediatric vaccines available in the market include pneumococcal vaccines, polio vaccines, MMR (measles, mumps, and rubella) vaccines, hepatitis vaccines, rotavirus vaccines, meningococcal vaccines, influenza vaccines, among others. These vaccines help prevent various life-threatening diseases and infections in children. Increased government initiatives to promote immunization programs globally have played a key role in improving children’s immunization rates.

The global Pediatric Vaccines Market is estimated to be valued at US$ 46,424.3 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

Increased government immunization programs present a key growth opportunity for the pediatric vaccines market. Various governments across the world are investing heavily in mass immunization programs to ensure high immunization rates among children. For instance, the Indian government’s Universal Immunization Program (UIP) aims to immunize all children up to 2 years of age against twelve vaccine-preventable diseases. Similarly, governments in the U.S., UK, China, Brazil and others are implementing effective nationwide immunization programs. The strong impetus by governments to promote immunization is expected to drive the demand for pediatric vaccines, especially in developing regions. This will encourage vaccine manufacturing companies to develop new and improved pediatric vaccines to capitalize on this opportunity.

Porter’s Analysis
Threat of new entrants: New entrants face high costs associated with R&D, clinical trials, and licensing requirements. Stringent regulations imposed by regulatory bodies further increase barriers.
Bargaining power of buyers: Buyers have low bargaining power as vaccines market is highly consolidated and R&D for new vaccines requires huge investments. Switching costs for buyers are also high.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to specialized expertise and long term contracts with manufacturers. However, presence of alternatives balances it.
Threat of new substitutes: Threat of substitutes is low as vaccines have few alternatives for preventing infectious diseases.
Competitive rivalry: Market is dominated by few global players. Intense competition exists on the basis of portfolio expansion and vaccines pricing.

SWOT Analysis
Strength: High unmet needs for new vaccines and immunization programs. Increasing government support and initiatives to promote immunization.
Weakness: High R&D costs and stringent regulations increase entry barriers. Pipeline depends on success rate of clinical trials.
Opportunity: Emerging economies provide high growth potential. Collaborations aid expansion into new geographies and product lines.
Threats: Pricing pressures to make vaccines affordable. Outbreaks of contagious diseases challenge current immunization.

Key Takeaways
The global pediatric vaccines market is expected to witness high growth over the forecast period. Vaccines are the most effective way to prevent infectious diseases in children. However, limited availability and affordability in developing nations persists. The global Pediatric Vaccines Market is estimated to be valued at US$ 46,424.3 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023-2030.

North America dominates the market currently owing to supportive immunization programs and availability of advanced vaccines. However, Asia Pacific is witnessing fastest growth led by China and India on back of improving healthcare infrastructure, rising awareness and income levels.

Key players operating in the pediatric vaccines market are GlaxoSmithKline, Merck, Sanofi, Pfizer, and Mylan. GlaxoSmithKline leads the market with its wide portfolio of pediatric vaccine brands like Infanrix and Pediarix. New vaccines in pipeline focusing on respiratory infections, meningococcal disease, and Ebola can further aid market expansion.