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Global Pediatric Vaccine Market - Technologies, Market share and Industry Forecast to 2024

Global Pediatric Vaccine Market - Technologies, Market share and Industry Forecast to 2024

PR Newswire

LONDON, Oct. 4, 2018

LONDON, Oct. 4, 2018 /PRNewswire/ -- Global pediatric vaccine market is expected to grow with a CAGR of around 12.6% over the forecast period 2017-2024. Key factors contributing the growth of global pediatric vaccine market includes, rise in importance and awareness of immunization across the globe predominance of chronic diseases, technologic advancements and increase in government and non-government funding. However, cost of immunization and of healthcare infrastructure are some of the growth restricting factor in the market. Whereas, rising concern regarding diseases which are vaccine-preventable across the globe is a key opportunity in the market. Moreover, lack of awareness regarding diseases in the remote areas is expected to deliver challenge towards the market.

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Rise in importance and awareness of immunization across the globe over the forecast period is the major factor attributing the growth of the market. Global governments and non-government organizations are focusing efforts regarding vaccine preventable diseases to increase awareness globally. For instance, programs by World Health Organization, Gavi, Pan America Health Organization, Center for Disease Control and Prevention etc., are providing significant awareness and aids in the immunization field to increase the healthcare in children. As the result of continuous awareness programs and immunization programs across the world, prevalence of polio has decreased in several countries almost by 99% since 1988. Only 3 countries that are Nigeria, Pakistan and Afghanistan are polio-endemic countries left. In 2016, around 86% of global children population has received 3 doses of diphtheria-tetanus-pertussis (DTP1) vaccination. Increasing vaccination programs and rising need for preventing fatal disease has significantly increased the adoption of vaccination. However, lack of healthcare infrastructure is a global pediatric vaccine major factor restricting growth of the market.

Global pediatric vaccine market is segmented into type, technology and application. On the basis of type market is segmented into monovalent and multivalent. Further on the basis of technology market is segmented into live attenuated, inactivated, subunit, toxoid, conjugate and others. Similarly, on the basis of application, global pediatric vaccines market segregated into infectious disease, cancer and allergy.

Geographically, market is segmented into North America, Asia Pacific, Europe and Rest of the world. North America is expected to dominate the global pediatric vaccine over the forecast period 2017-2024 by holding largest market share in terms of revenue. Rise in the research and development activities in the region is major factor attributing the regional market growth. Also, various investments by market players and government for increasing vaccination is expected to contribute towards the growth of the pediatric vaccine market. However, Asia Pacific is expected to register fastest growth over the forecast period 2017-2024.

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Last Updated: 05-Oct-2018