Based on a report published by Grand View Research, Inc.; the global pediatric vaccines market is anticipated to attain around USD 60.4 billion by 2025. Rising awareness regarding immunization to control child mortality rate is anticipated to drive the global market. These vaccines increase immunity in children and protect them from severe infectious diseases. This factor is expected to boost the market over the forecast period (2014 to 2025).
High prevalence of chronic diseases coupled with severe communicable infections are expected to influence growth of market. Supportive initiatives from governments to promote immunization and increased funding for the development of novel vaccines can fuel market expansion in near future. Higher risk of contracting severe infectious diseases among infants is likely to stimulate demand for advanced vaccines. Emergence of new and deadly viruses or infections coupled with technological advancements to develop effective therapeutic vaccines is expected to augment market growth during the forecast period.
Full Research Report On Pediatric Vaccines Market Analysis: https://www.grandviewresearch.com/industry-analysis/pediatric-vaccine-market
To cater to the rising demand for therapeutic and cost-effective pediatric vaccines, pharmaceutical giants are increasingly getting involved in research and development (R&D) to discover advanced products. For instance, a technology and research company NANT recently announced the Food and Drug Administration (FDA) approval for its new vaccine. The company can proceed for clinical trials for its new investigational neoepitope yeast vaccine named YE-NEO-011 for personalized, next generation cancer immunotherapy.
In another instance, Pfizer Inc.; recently announced that it is set to begin phase ½ trial of its respiratory syncytial virus (RSV) vaccine candidate in healthy adult volunteers. This virus can affect lungs and airways in young children and older adults. Currently available treatments for RSV are limited for premature infants and high risk young children and infants. This new vaccine can increase immunity in vaccinated pregnant women by neutralizing antibody levels in pregnant women. These antibodies get passed to unborn child to provide them with similar immunity and protection from RSV.
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The worldwide pediatric vaccines market can be segregated on the basis of type, technology, application, and region. Based on type, the market can be bifurcated into multivalent and monovalent. In 2016, the monovalent vaccine segment dominated the overall market with the largest revenue share. The multivalent vaccines segment can witness significant growth during the forecast period attributed to rising prevalence of infectious diseases in children.
Based on technology, the market can be categorized into inactivated, conjugate, live attenuated, toxoid, subunit, and others. In 2016, conjugate vaccines segment dominated the market and is expected to continue witnessing maximum growth during the forecast period. High prevalence of meningococcal and pneumococcal infections and rising awareness regarding their prevention can fuel growth.
Based on application, the market can be classified into allergy, cancer, and infectious disease. The infectious disease segment is anticipated to hold the maximum market share in near future owing to rising awareness about morbidity and mortality causing diseases. Rising cases of typhoid, measles, chicken pox, and hepatitis in children can stimulate demand for immunization. This, in turn, can surge growth of pediatric vaccines market over the forecast period.
Regional segmentation includes, North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. In 2016, North America dominated the global market with the largest market share. Rising R&D investments from local companies coupled with government support for immunization and development of pediatric vaccines can fuel growth. In addition, high prevalence of advanced healthcare facilities and infrastructure are likely to boost growth of market in the region.
Similarly in Asia Pacific, the market for pediatric vaccines is expected to witness significant growth at a CAGR of around 12.6% during the forecast period. High prevalence of untapped population coupled with supportive initiatives from government and non-government organizations to promote immunization can impel growth in the years to come.
Some of the leading companies in pediatric vaccines market are Sinovac Biotech Limited, Mitsubishi Tanabe Pharma Corporation,Indian Immunologicals Limited, Zydus Cadila, and Panacea Biotec. Most companies are focusing on R&D to develop advanced pediatric vaccines to reduce mortality in young children. In addition, the companies are making investments in mergers and acquisitions (M&A) to expand product portfolio and to generate maximum revenue.
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