LONDON, July 01, 2021 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the pediatric vaccine market, disruptions in the delivery and uptake of immunization services caused by the COVID-19 pandemic led to a decline in routine immunization rates across the world. The unavailability of vaccines, health workers, reluctance to leave home, transport interruptions and fear of being exposed to people with COVID-19 were some of the reasons leading to a fall in vaccination rates.
As things slowly return to “normal”, going forward, increasing cases of invasive cervical cancer, strong late-stage pipeline and new drug approvals, increasing prevalence of infectious diseases will drive growth of the market. Factors that could hinder the growth of the pediatric vaccines market in the future include vaccine refusal by parents, skilled workforce shortages, stringent regulations related to pediatric vaccines approvals.
The global pediatric vaccine market is expected to grow from $28.97 billion in 2020 to $32.44 billion in 2021 at a compound annual growth rate (CAGR) of 12%. This growth is mainly due to companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $49.9 billion in 2025 at a CAGR of 11.4%.
The Business Research Company’s report titled Pediatric Vaccine Global Market Report 2021: COVID 19 Growth And Change to 2030 covers major pediatric vaccine companies, pediatric vaccine market share by company, pediatric vaccine manufacturers, pediatric vaccine market size, and pediatric vaccine market forecasts. The report also covers the global pediatric vaccine market and its segments.
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North America is the largest region in the pediatric vaccine market, accounting for 37.6% of the total in 2020. It was followed by the 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 North America where growth will be at CAGRs of 13.6% and 11.7% respectively during 2020-2025. These will be followed by the Middle East and Western Europe, where the markets are expected to register CAGRs of 9.4% and 9.2% respectively during 2020-2025.
The pediatric vaccine market is highly fragmented, with a large number of small players. The top ten competitors in the market made up to 52.9% of the total pediatric vaccine industry size in 2020. Major players in the market include Merck & Co. Inc., Serum Institute of India Pvt. Ltd., Sanofi SA, Pfizer Inc., AstraZeneca and others.
The top opportunities in the pediatric vaccine market segmented by vaccine type will arise in the monovalent market, which will gain $18.99 billion of global annual sales by 2025. The top opportunities in the pediatric vaccine market segmented by technology will arise in the conjugate market, which will gain $10.68 billion of global annual sales by 2025, by application will arise in infectious disease market, which will gain $21.69 billion of global annual sales by 2025. The pediatric vaccine market size will gain the most in the USA at $8.62 billion.
Pediatric Vaccine Global Market Report 2021: COVID 19 Growth And Change to 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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