Pediatric Vaccines are generally given to prevent children from diseases transmitted through infections, seasonal variations and even through germ-infested areas. Pediatric vaccines perform important role by declining various infectious diseases such as measles, diphtheria, and poliomyelitis. Increasing adoption of pediatric vaccines has significantly increased the global pediatric vaccines market. Pediatric vaccination is the most cost effective method of disease prevention. High prevalence of infectious diseases coupled with increasing government initiatives for raising awareness regarding vaccination are factors expected to drive the global pediatric vaccine market during the forecast period.
Market Size and forecast
Increasing birth rate worldwide has significantly increased the demand for pediatric vaccines globally. The rising incidence of diseases such as polio, influenza, hepatitis is also expected to fuel the market growth of global pediatric vaccines market in the forthcoming years. The pediatric vaccines market is expected to value at USD 62 Billion by 2027 and registers a CAGR of 11.9%.The global pediatric vaccine market is segmented on the basis of type, product, technology, disease and by end user. On the basis of product type pediatric vaccines is segmented into pediatric vaccines, CNS drugs, pediatric hormones, allergy & respiratory drugs, anti-infective drugs. On the basis of technology pediatric vaccines market is segmented into dendritic cells vaccines, live attenuated vaccines, synthetic vaccines, toxoid vaccines, inactivated vaccines, conjugate vaccines, recombinant vector vaccines subunit vaccines
Among the technology segment, live attenuated vaccines are anticipated to record the highest growth. Based on type of disease, the infectious disease segment is anticipated to be the leading segment during the forecast period.
By region, global pediatric vaccine market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America leads the global pediatric vaccines market and is closely followed by Europe on the account of high presence of various pediatric vaccine manufactures, extensive research and development (R&D) and increasing government supports for immunization and development of pediatric vaccines. However, the market for pediatric vaccines in Asia Pacific is anticipated to witness the fastest growth during the forecast period 2017 to 2027 owing to the increasing birth rate in countries such as India and China.
Our-in depth analysis of the global pediatric vaccines market which includes the following segments:
By End user
Global pediatric vaccines market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Rapid increase in government and non-government funding for the development of new vaccines coupled with rising awareness about the benefits of vaccination, is expected to drive the global pediatric vaccines market growth in the forthcoming years. Government is continuously looking to reduce the cost of patient immunization through various vaccination programs. For instance various countries have included programs such as children vaccination programs which offers vaccines to children who lack health insurance.Additionally, growing prevalence of chronic diseases is another major market factor driving global pediatric vaccines market.
However, low accessibility to vaccines in developing countries coupled with stringent regulations for the usage of these vaccines, is anticipated to hinder the growth of this global pediatric vaccines over the forecast period.
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