Europe Pediatric Vaccines Market

Europe Pediatric Vaccines Market Size (2023 to 2028)

The pediatric vaccines market in Europe is anticipated to be worth USD 22.93 billion by 2027 from USD 15.59 billion in 2023, growing at a CAGR of 8.02% from 2023 to 2028.

An increasing number of pediatric diseases among children and the birth of newborn babies are the primary factors driving the European pediatric vaccines market forward. Primary reasons for the cause of death among children are different from one another. Children below five years of age are more prone to death due to chronic diseases such as malaria, pneumonia, diarrhea, HIV, and tuberculosis. Children are more affected by infectious diseases due to a lack of a healthy diet and low immunity power. Respiratory infection is the most common in children below 14 years of age. Some of these diseases can be treatable if they are in the early stage by drugs or surgeries. Eurostat says nearly 4 million babies were born in 2020 in Europe. Due to the increasing number of fertility options for infertile couples in Europe, the birth rate has increased in recent years, which drives the market forward.

Increasing research and development in pediatric vaccines also drives the market forward. European countries have increased their investment in developing pediatric vaccines to decrease the death rate among children. In addition, most key players focus on developing advanced medicine for chronic diseases and reducing the cost of the medicine by manufacturing the drug locally.

However, the high costs associated with some of the vaccines for chronic diseases are the primary factor restraining the market growth. In addition, lack of investment in manufacturing some vaccines for rare diseases, lack of skilled professionals for research and development, and approval for various vaccines are restraining the market growth.

This research report on the global pediatric vaccines market has been segmented and sub-segmented into the following categories.

By Vaccine Type:

• Monovalent
• Multivalent

 By Technology:

• Live Attenuated
• Inactivated
• Subunit
• Toxoid
• Conjugate
• Other Technologies

By Application:

• Infectious Disease
• Cancer
• Allergy
• Pneumococcal Disease
• Influenza
• Measles, Mumps, and Rubella (MMR)
• Other Applications

By Country:

• United Kingdom
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Rest of Europe

Europe accounted for a substantial share of the global pediatric vaccines market in 2021 and is anticipated to showcase promising growth during the forecast period. The Paediatric Regulation has existed in the European Union since 2007, which helps improve the health of European children by providing advanced drugs and treatment for people between the ages of 0-17. This regulation helps provide high-quality treatment for children by collecting data from various sources and storing it in the database, which helps manufacture quality products such as vaccines. However, the high cost of some vaccines for chronic diseases is the primary factor restraining the market growth. In addition, lack of investment in manufacturing some vaccines for rare diseases, lack of skilled professionals for research and development, and approval for various vaccines are restraining the market growth.

All the countries in European nations have a specific vaccination schedule at various stages of childhood to prevent various diseases in the adolescent age. However, according to a survey, the children who are not taking this schedule's vaccination have chronic illnesses and an increased mortality rate. As a result, the European government has imposed strict rules for taking vaccination among children, which drives the market forward.

The UK pediatric vaccines market is expected to account for a significant share of the European market. It is driven by the increasing number of infectious and genetic diseases among children due to changes in environmental factors. For instance, due to the increasing spread of coronavirus disease in children in the United Kingdom, the European confederation for primary care Paediatricians focuses on manufacturing vaccination for children and adolescents.

On the other hand, the German pediatric vaccines market is anticipated to register a healthy CAGR during the forecast period. Germany has one of the best healthcare systems in the world, providing vaccines to the unvaccinated and helping people by protecting them from infectious diseases. Most of the vaccinations for children in Germany are free. In Germany, all the children's medical reports are documented to recognize and track any infectious illness. Germany also has several clinical centers to develop vaccines based on newly developed diseases. Researchers in the clinical center take the data from the government and manufacture the vaccines in sufficient amounts to save the children by providing the vaccine on time. These factors drive the pediatric vaccines market growth.

KEY MARKET PLAYERS:

Merck Sharp & Dohme Corp., Zydus Cadila, Sinovac Biotech Ltd., GlaxoSmithKline plc., Bio-Med Pvt. Ltd., SANOFI, Pfizer, Inc., Mitsubishi Tanabe Pharma Corporation, Panacea Biotec and AstraZeneca are a few of the major players in the European pediatric vaccines market.