The report defines the “Pediatric Vaccines Market (Vaccine Type – Monovalent and Multivalent; Technology – Attenuated Live Viruses, Inactivated Viruses, Recombinant, Subunits, Toxoids, Conjugates and Polysaccharides; Application – Infectious Disease, Allergy and Cancer; End User – Hospitals, Pediatric Clinics, Research Organizations, and others): Global Industry Analysis, Trends, Size.”
Vaccines that are intended to be used as an immunization against several infections or diseases in all children from birth through 12 years of age. The routines of the immunization are provided by the Centers for Disease Control and Prevention (CDC) with the specific guidelines. According to the report the global pediatric vaccines market is projected to grow at a CAGR of 11.2% over the forecast period of 2018-2024.
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The growing prevalence of chronic diseases among children drives the growth of the pediatric vaccine market. The risk of various chronic diseases among children is increasing every year. Millions of children are suffering from several chronic diseases including asthma, diabetes, cancer, AIDS, Malnutrition, Cystic fibrosis and others. According to the Centers for Disease Control and Prevention (CDC), globally 6.2 million children have suffered from asthma in 2017. In addition, more than 40,000 children undergo treatment for cancer each year globally. The rise in the occurrence of these diseases creates a huge demand for vaccinations. Immunization provides the antibodies that help to control the prevalence of chronic illnesses among the children.
Furthermore, the various government organizations are rising their investments in the pediatric vaccinations by promoting them through healthcare awareness programs across the world.
Pediatric Vaccines Market: Market Segmentation by Type
The pediatric vaccines market by vaccine type is segmented as monovalent and multivalent. The monovalent vaccines are used to immunize the single strain of a single microorganism whereas the multivalent vaccines are used for two or more strains of the same microorganism.
Pediatric Vaccines Market: Market Segmentation by Application
The application segment of the pediatric vaccine market includes Infectious Disease, Allergy, and Cancer applications.
Infection diseases are the condition or the illness caused by the microorganisms such as bacteria, viruses, and parasites that normally spread between the individuals. Among the most prevalent infectious diseases found in children include Hepatitis C (HCV), Dengue, malaria, pneumonia, gastrointestinal infections, and others. The prevalence of these diseases is growing rapidly among the pediatric population across the world.
Allergies are the abnormal reactions of the immune system caused due to the aversion of the particular food, mediation, and other substances. Children are easily getting infected by several allergic substances as they have sensitive skin and weak immune system. Although pediatric vaccinations are specifically used for immunization, they are also used in the treatment of allergies.
According to the world data organization, 192,516 children across the world suffered from any of the forms of cancer. Cancer is the second leading cause of death in the children. There are two types of vaccinations available for cancer such as prevention vaccines and treatment vaccines. The cancer vaccines are used to recognize and destroy the cancer cells from the children.
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Pediatric Vaccines Market: Regional Analysis
Among the regions considered in the scope of the report, North America held maximum share in the pediatric vaccines market, in 2017. It will continue to dominate the pediatric vaccines market over the forecast period. The growing investments in the research and development of the vaccine industry are the major factor that drives the growth in North America pediatric vaccines market. Presence of various key players of pediatric vaccination market such as Merck Sharp & Dohme Corp and others are contributing to the growth of this market.
Furthermore, Asia Pacific is the fastest growing region in the pediatric vaccines market. In the Asia Pacific region, several children are suffering from different chronic illness. The prevalence of these diseases is rising very rapidly. The government of various countries such as China, India, and others are providing free vaccinations to children to overcome the challenge of high growth of chronic conditions.
Pediatric Vaccines Market: Competitive landscape
The report provides the profiles of the companies in the global pediatric vaccine market such as Merck Sharp & Dohme Corp, SANOFI, Indian Immunologicals Limited, Mitsubishi Tanabe Pharma Corporation, Sinovac Biotech Ltd., GlaxoSmithKline plc, Serum Institute of India Pvt. Ltd., Eli Lilly Company, Pfizer, Inc. and SANOFI
The Merck Sharp & Dohme Corp, SANOFI, and Pfizer, Inc are among the major players operating in the pediatric vaccines market. These players are focusing on numerous key strategies such as new product launch, mergers and acquisition, partnerships and many others to expand their product portfolio. This will further help them to improve their sales.
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