Pediatric Vaccines Market Estimated to Record Highest CAGR by 2026 With Top Key Players GlaxoSmithKline, Serum Institute of India, Eli Lilly Company, AstraZeneca, Pfizer
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The Centers for Disease Control and Prevention (CDC) recommends immunizing children against most of the vaccine preventable disease by the time they are two years old. These resulted in elimination of some of the infectious disease completely in various countries. For instance, Polio and smallpox have been eliminated in the U.S. due to effective vaccination. In March 2014, World Health Organisation (WHO) declared India as polio-free nation.
Increasing prevalence of chronic and infectious disease, along with growing awareness regarding childhood immunization among various developed and emerging economies lead to boost the growth of pediatric vaccines market in near future. Furthermore, increasing alliances, partnership, and collaborations among key players to introduce efficient vaccines in the market is expected to drive growth of the market in near future.
Increasing government initiatives for pediatric vaccines are projected to fuel market growth
Government of various economies, healthcare regulatory organizations, and private organizations are focused on reducing rate of pediatric disease, which is expected to propel demand for pediatric vaccine over the forecast period. For instance, in 2013, World Health Organization (WHO): Europe launched the flu Awareness Campaign initiative to spread awareness regarding flu among the European population. In 2002, the United Nations Children's Fund (UNICEF) initiated the Social Mobilization Network (SMNet) in India, in order to irradiate the polio from India.
Some of the major companies operating in the pediatric vaccines market are GlaxoSmithKline plc, Serum Institute of India Pvt. Ltd., Eli Lilly Company, AstraZeneca plc, Pfizer, Inc., Aventis Pharma Limited, Indian Immunologicals Limited, Zydus Cadila, Panacea Drugs Pvt. Ltd., and Sinovac Biotech Ltd.
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Pediatric Vaccines Market Regional Outlook
On the basis of geography, the global pediatric vaccines market is segmented into six major regions: North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to hold strong foothold in this market, owing to high presence of various key pediatric vaccine manufactures, extensive research and development (R&D) by research organizations, and rise in the government supports for immunization and development of pediatric vaccines.
Asia Pacific is expected to emerge as a major market player in the near future, owing to growing engagement of government and private organizations to initiate awareness campaign and nationwide vaccination program. For instance, in February 2017, Government of India in collaboration with The United Nations Children's Fund (UNICEF) and World Health Organization (WHO), initiated the campaign to prevent children from pediatric disease such as measles and rubella. Under the campaign, children aged between nine months and 15 years will be administered the measles-rubella vaccine (MR-VAC).
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