A report released by Coherent Market Insights showed that pediatric vaccines market will surpass $69.482 billion by 2030.1 The main pharmaceutical companies in the global market for pediatric vaccines include Bharat Biotech, Emergent BioSolutions, GSK, Indian Immunologicals, Merck, Panacea Biotec, Pfizer, Sanofi, Serum Institute and Zydus Cadila.2
Pediatric Vaccine Approvals by Governments Will Drive Vaccine Market Growth
According to the World Health Organization (WHO), the prevalence of infectious disease increased by 57 percent in 2020 and predicted that this increase will drive the demand for pediatric vaccines. The report states that rising prevalence of infectious diseases such as tuberculosis, diphtheria, and pneumonia in the age group of 15 years and under is expected to contribute to the growth of the pediatric vaccines market.3
There is also speculation that increasing approvals for pediatric vaccine candidates by government regulatory authorities in countries across the globe may be the reason for the market’s growth over the forecasted period.4 For example, in 2022 the U.S. Food and Drug Administration (FDA) approved the expanded use of for Merck’s pneumococcal 15-valent conjugate vaccine known as VAXNEUVANCE for babies as young as six weeks old to 17 years old.5
In October 2021, Seqirus, one of the world’s largest influenza vaccine manufacturers announced that the FDA approved its Flucelvax Quadrivalent influenza vaccine for an expanded age indication for children of age six months old and older.6
Blackmailing U.S. Parents Who Refuse Vaccines Helped Drive the Growing Pediatric Vaccine Market in 2021
By region, North America dominated the global pediatric market in 2021 with the highest market share. It is predicted that this trend will continue into the forecasted period. This dominance in the market is attributed to an increase in research and development investments, increase in government support for vaccination and the development of candidate pediatric vaccines.7
There is also speculation that pediatric office policies of dismissing families that refuse pediatric vaccines contribute to a growing market. A survey revealed that fifty-one percent of pediatric offices in the United States have a policy to dismiss parents that refuse pediatric vaccines. Thirty-seven percent of pediatricians said they often dismissed families for refusing vaccines and six percent said they would dismiss a family for choosing a delayed vaccine schedule for their child.8 9
Sean O’Leary, MD, a professor of pediatrics at the University of Colorado Anschutz Medical Campus and Children’s Hospital Colorado in Aurora said:
Another argument for dismissing families is that doing so may increase vaccine rates when parents see that pediatric practices feel so strongly about vaccines. Some of the downsides are that kids might end up without a medical home, or parents will find pediatricians who don’t have policies about vaccines.10
The Middle East is also expected to be a fastest growing region in the forecast period of the pediatric vaccine market.11
MMR Vaccine Will Drive Market Growth in North America
The MMR (measles, mumps and rubella) vaccine is expected to drive market growth in the North American region primarily due to increasing vaccine approvals by drug regulatory authorities. In 2022, for example, the FDA approved GSK’s live virus MMR vaccine known as PRIORIX for children one year old and older.12
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