Pediatric Vaccines Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2847
Pediatric Vaccines Market size is expected to grow significantly from 2018 to 2024.
Rising prevalence of chronic infections such as tuberculosis, diphtheria and pneumonia in the age group of 15 years and below will upsurge the demand for pediatric vaccines. According to NCBI, in 2014, it was reported that around 10 million children suffer from tuberculosis every year in India. Poor hygiene conditions, high rates of superstitions and other factors augment the rate of disease prevalence in developing countries such as India that will positively impact the pediatric vaccines industry growth in forthcoming years.
Increasing government initiatives should increase the demand for pediatric vaccines. For instance, number of government initiatives implemented to raise the awareness regarding the availability of superior quality pediatric vaccines thereby will escalate the pediatric vaccines industry growth. Moreover, key industry players adopt various strategic initiatives to develop high precision pediatric vaccines that will increase the preference of these vaccines surging the industry growth. However, high costs associated with immunization may affect the industry growth over the forecast timeframe.
Multivalent pediatric vaccines segment should have significant market share over the forecast timeframe. High growth of this segment can be accounted to the increasing prevalence of infections in the pre-matured babies that weakens the immunity making them more susceptible to chronic viral infections thereby, will stimulate the preference for pediatric of vaccines.
Live attenuated pediatric vaccine technology segment will experience high growth during the forecast timeframe. Benefits offered by the live attenuated pediatric vaccines such as high immunization over various diseases will increase its preference over the conventional inactivated form of vaccines that will upsurge the industry growth in the upcoming years.
Cancer segment will have high growth during the estimated forecast period and the growth will be associated to the increasing prevalence of cancer in the children. According to CANKIDS, 40,000-50,000 children suffer from cancer every year and only 50% of them are diagnosed and get definite treatment. Government is undertaking essential steps to improve the levels of awareness among the parents for treatment of undiagnosed individuals that will upsurge the industry growth.
India pediatric vaccines market will have high growth during the forecast timeframe owing to the increasing cases of infections among pediatric population. Also, certain regulatory bodies in India have implemented strategies to raise awareness regarding availability of treatments that will escalate business growth. For instance, AVERT organization in India have implemented certain programs that will raise the awareness regarding AIDS treatment for children surging the industry growth.
Major industry players are GlaxoSmithKline, Merck Sharp & Dohme, SANOFI, AstraZeneca, Pfizer, Zydus Cadila, Indian Immunologicals, Serum Institute of India, Mitsubishi Tanabe Pharma, Panacea Biotech, Sinovac Biotech. New strategic initiatives adopted by the companies will assure profitable scenario. For instance, in 2017, Zydus Cadila received approval to launch tetravalent inactivated influenza vaccine. New product launch will develop the company’s product portfolio thereby generating enormous profits.
Pediatric Vaccines Market by Type, 2013-2024 (USD Million)
Pediatric Vaccines Market by Technology, 2013-2024 (USD Million)
- Live attenuated
Pediatric Vaccines Market by Application, 2013-2024 (USD Million)
- Infectious Diseases
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
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