The Global Pediatric Vaccine Market is projected to grow at CAGR of 12.50% during the forecast period to reach a market size of 42.865 billion in 2023
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Following driver, restraints, and opportunities have been covered in this report-
• Rising awareness regarding the immunization
• Favorable reimbursement policies
• Manufacturing complexities
• Stringent government regulations
• Technological breakthroughs for development of new vaccine classes such as DNA vaccines
• The emergence of vaccines as therapeutic agents
Multivalent Vaccines is expected to show robust growth during the forecast period. The growth may be attributed to the fact that major players across the globe are focusing on the development of the tetravalent, pentavalent and hexavalent vaccines.
Infectious diseases segment is expected to hold significant share during the forecast period due to growing global awareness about immunization against a number of infectious diseases that cause mortality and morbidity globally.
North America holds a significant share in the market.
Geographically North America is expected to hold a major share in the pediatric vaccine market owing to the presence of major players in the region coupled with the presence of advanced healthcare infrastructure and facilities for immunization. The Asia Pacific will also show robust growth during the given frame owing to the presence of a large target population in the region and number of immunization initiatives by government and non-government organizations.
Some of the major players discussed in the reports are GlaxoSmithKline plc, Merck, Pfizer and Novartis AG, among others.
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