Increasing government and non-government funding for development of vaccine is the major driver for the pediatric vaccine market. Rise in technological advancement such as adjuvant and therapeutic vaccines are expected to drive the pediatric vaccine market during the forecast period. Increasing investment by companies due to high growth prospects in the emerging market, immunization schedule given by doctors for the children and awareness programs led by UNICEF, the WHO and other healthcare organization are also anticipated to propel the growth of the pediatric vaccine market. Immunization is one of the most cost-effective interventions that help in saving lives of millions of people by protecting them from disability and countless number of diseases. Diphtheria-tetanus-pertussis (DTP3) is an indicator of how well countries are providing routine immunization services. According to reports of the UNICEF and the WHO, global coverage for three doses of DTP-containing vaccine increased from 20 per cent in 1980 to an estimated 84 per cent in 2014. Rising women workforce also propels pediatric vaccines growth market.
The pediatric vaccine market is segmented on the basis of product, diseases and technology. The product segments include pediatric vaccines, CNS drugs, pediatric hormones, allergy & respiratory drugs and anti-infective drugs. Pediatric vaccines are the most popular and are highly recommended by pediatricians. It is estimated that with increase in pollution and various allergen there would be a growing need for allergy and various respiratory drugs. About one in 4,000 to 10,000 children have growth hormone deficiency. On the basis of technology, the market is segmented into dendritic cells vaccines, live attenuated vaccines, synthetic vaccines, toxoid vaccines, inactivated vaccines, conjugate vaccines, recombinant vector vaccines and subunit vaccines. Live attenuated vaccines are mostly used as compared to inactivated vaccines, which are used in hepatitis and polio. Live attenuated vaccine has an excellent immune response by providing maximum continual antigenic stimulation and giving sufficient time for memory cell production. Infectious disease, cancer and allergy are the types of disease segments of the pediatric vaccine market. Infectious diseases are further sub-segmented into MMR, pneumococcal, polio, influenza, meningococcal, DTP, varicella, hepatitis and rotavirus. Mainly the vaccine based on infectious diseases is used however, with rise in prevalence of chronic diseases such as cancer, there is increasing of cancer vaccine by hospitals and healthcare department.
Geographically, the pediatric vaccine market is segmented into North-America, Latin-America, Europe, Asia-Pacific and MEA. Developed economies of North-America and Europe have maximum share in the pediatric vaccine market. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to the rising focus of major players on the Indian vaccine technology market, governmental initiatives and growing immunization initiatives by organizations such as the World Health Organization and the Global Alliance for Vaccines and Immunizations (GAVI) in these regions. Emerging economies of Asia-Pacific such as India, China has maximum concentration of poverty and various awareness programs, therefore giving opportunities for the market to grow in the coming years. Certain clinic-based interventions, such as patient reminder/recall systems, have been found to improve immunization rates in specific settings and this site-based intervention reduces disparities in immunization rates at the community level. Low accessibility to vaccines in remote areas accompanied by stringent regulatory procedures are major reasons hampering the growth of pediatric vaccine market, however growing awareness about the importance of vaccines in emerging economies such as China and India is expected to drive the market during the forecast period.
Some of the major players dominating the pediatric vaccine market are Novartis AG., Sanofi, Abbott Laboratories, Amgen Inc., Shire Pharmaceuticals Group Plc, AstraZeneca Plc, Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Eli Lilly and Company, Merck & Co. Inc, Genentech Inc., GlaxoSmithKline, Actelion Pharmaceuticals Ltd (Switzerland), Shire Pharmaceuticals Group Plc (UK), Shire Pharmaceuticals Group Plc (UK), Abbott Laboratories (US), Sanofi S.A (formerly Sanofi-Aventis) (France), Pfizer Inc. (US), BoehringerIngelheim GmbH (Germany), Johnson and Johnson (U.S.), GlaxoSmithKline plc. (UK), Merck Serono (Switzerland), InfaCare, Novo Nordisk A/S (Denmark), Genentech, Inc. (US), Inc. (USA) Novo Nordisk A/S and Shionogi Inc.
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.