Global pediatric vaccines market is expected to register a CAGR of 10.6% over the forecast period. Moreover, the global pediatric vaccines market was valued at USD 24 Billion in 2015 and is expected to reach at notable revenue by the end of 2021. The market is expected to expand on the back of favorable government initiatives and increasing concerns amongst the population regarding child safety and health. Some common vaccines are recommended for children’s such as Hapatitis B, DIPHTHERIA, Poliomyelitis and others.
Increase in investments by companies to capture a larger market share is anticipated to propel growth. Some of the factors attributed to increase in investment are high growth prospects in the emerging market, immunization schedule mandated by doctors for children, and awareness programs led by UNICEF, WHO, and other healthcare organizations. Furthermore, increase in number of government initiatives for raising awareness about immunization is expected to boost the market for pediatric vaccines.
Escalating Number of Newborns
According to world health organization, more than 130 Million live births per year across the globe. Further, rising need to prevent infants from vaccine preventable diseases such as cervical cancer, polio, pneumonia, diphtheria, mumps and other is a key factor which is driving the growth of pediatric vaccines market. Moreover, increasing concern regarding child’s health and wellness coupled with increasing expenditure on care of newborns are also fuelling the demand for pediatric vaccines across the globe.
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Favourable government initiatives and programmes
The pediatric vaccines market is poised to display substantial growth during the forecast period due to favorable government initiatives and vaccination programs across the globe. Furthermore, number of deaths due to vaccine-preventable diseases such as rubella, measles, tetanus, rotavirus and other diseases are increasing. Government expenditures on improvement of healthcare sector and to provide better medical services are anticipated to bolster the growth of pediatric vaccine market during the forecast period.
However, limited or no access to healthcare services in developing/under-developed countries, low healthcare spending, and lower pediatric vaccination coverage etc. are some of the challenges which might hamper the growth of global paediatric vaccines market in future.
The report titled “Global Pediatric Vaccines Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global pediatric vaccines market in terms of market segmentation by types, by diseases and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global pediatric vaccines market which includes company profiling of Pfizer Inc., Merck & Co., Inc., Sanofi Pasteur, Sinovac Biotech, Bio Med, Valeant Pharmaceuticals and Dynavax Technologies. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global pediatric vaccines market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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