The global pediatric vaccines market is expected to grow at a significant CAGR over the forecast period on account of growing awareness towards benefits of immunization. Along with this, increasing government support through various programs such as “The Vaccines for Children Program” and “The Universal Immunization Programme” is also likely to stimulate the market for pediatric vaccines.
Moreover, increasing number of awareness programs led by UNICEF, WHO, and other healthcare organizations is also expected to augment market growth over the coming years. However, low accessibility in remote areas coupled with rising cost of vaccines is projected to affect the profitability of market.
Pediatric Vaccines Market: Type Insights
On the basis of type, the industry is segmented into monovalent and multivalent vaccines. The market for monovalent vaccines is expected to occupy the highest share on account of stability and safety. Moreover, the ability of monovalent vaccines to develop rapid immune response is also likely to boost market growth.
Multivalent vaccines are projected to grow significantly over the years owing to rising incidence of diseases globally. Along with this, ability of the vaccine to treat multiple diseases at a time is likely to favor the sector.
Pediatric Vaccines Market: Technology Insights
By technology, the pediatric vaccines market is segmented into live attenuated, inactivated, subunit, toxoid and conjugate among others. The conjugate segment is anticipated to register a significant growth rate over the forecast period on account of its ability to elicit immunological memory and reduce asymptomatic carriage of bacteria. Along with this, inherent factors of conjugate vaccines such as long lasting protection and creation of herd immunity is also projected to augment market growth.
Pediatric Vaccines Market: Application Insights
Pediatric Vaccine finds its application in treatment of Infectious Diseases, Cancer and Allergy. The infectious diseases segment is anticipated to dominate the market over the forecast period owing to increase in incidence of diseases such as chicken pox, typhoid, cholera, measles, and hepatitis globally. The rising occurrence of these diseases in children is likely to positively impact the market
Pediatric Vaccines Market: Regional Insights
North America occupied the largest share of this market since the past few years. This can be attributed to rising government and organizational support through various programs. Moreover, growing healthcare infrastructure coupled with disposable income of consumers is anticipated to augment market growth.
Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period due to growing consumption of pediatric vaccines and increase in immunization initiatives by government and non-government organizations.
Pediatric Vaccines Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Pediatric Vaccines Market: Market Share & Competitor Analysis
The global market for this product is expected to be significantly large due to the presence of numerous manufacturers. The major players have made large investments in R&D activities along with a number of mergers and acquisitions in the past few years to expand their business line. The key players profiled in the pediatric vaccines market include Serum Institute of India Pvt. Ltd.; Pfizer, Inc, Mitsubishi Tanabe Pharma Corporation; SANOFI, GlaxoSmithKline plc, Merck Sharp & Dohme Corp.; AstraZeneca, Zydus Cadila; Indian Immunologicals Limited; Panacea Biotec; Sinovac Biotech Ltd.; and Bio Med Pvt. Ltd.