Pediatric vaccines are revolutionizing the healthcare industry by providing protection against the severe illnesses, thereby enabling improved heath and reduced family stress. Moreover, childhood immunization is essential step in maintaining high vaccination levels within the population, which prevents outbreaks such as diphtheria, hepatitis A, hepatitis B, influenza, Haemophilus influenzae type b (Hib), measles, and mumps. Various government healthcare organizations such as the United Nations Children’s Fund (UNICEF), American Academy of Pediatrics (AAP), and World Health Organization (WHO) are engaged in initiating various immunization awareness programmes to increase vaccination among the pediatric population. Click To Read More On Pediatric Vaccines Market.
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. The global pediatric vaccines market was valued at US$ 23,317.0 million in 2017 and is expected to witness a CAGR of 10.8% over the forecast period (2018 – 2026).
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.
Furthermore, according to the data published in the Journal of Infectious Diseases in July 2017, Social Mobilization Network resulted in increasing immunization coverage in the high-risk areas of India from 36% in 2009 to 81% in 2016 in Uttar Pradesh and from 54% in 2009 to 88.5% in 2016 Bihar. As pediatric vaccines contribute in significant reduction of pediatric infectious, numbers of vaccine preventable infectious disease are minimized using vaccination programme. However, mortality associated with such infectious disease is reported in some of the countries.
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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