Pediatric Vaccines Market Is Witnessing Significant Growth Due To Rise In Importance & Awareness Of Immunization Across The Globe Till 2025
The
global pediatric vaccines market is expected to reach USD
60.4 billion by 2025 at an 11.7% CAGR, according to a new report by Grand View
Research, Inc. Advancements in development of vaccines and new product launches
are some of the major drivers of the market.
Increase
in investments by companies to capture a larger market share is anticipated to
propel growth. Some of the factors attributed to increase in investment are
high growth prospects in the emerging market, immunization schedule mandated by
doctors for children, and awareness programs led by UNICEF, WHO, and other healthcare
organizations. Furthermore, increase in number of government initiatives for
raising awareness about immunization is expected to boost the market for
pediatric vaccines.
Advancements
in development of novel adjuvants and therapeutic vaccines are expected to
drive growth during the forecast period. Ongoing research in novel molecules
targeted at specific mechanisms of action in the body is aimed at providing
immunity against fatal diseases such as cancer and Zika virus disease. For
instance, in June 2016, Inovio Pharmaceuticals, Inc. announced the initiation
of phase I clinical trial for their Zika DNA vaccine named GLS-5700.
Browse full
research report on Pediatric Vaccines
Market: www.grandviewresearch.com/industry-analysis/pediatric-vaccine-market
Further
key findings from the report suggest:
- The global pediatric vaccines market was
estimated at USD 22.4 billion in 2016 and is expected to grow with a CAGR
of 11.7% from 2017 to 2025
- By type, monovalent emerged as the largest
segment due to factors such as high usage and increase in initiatives for
R&D activities supported by various governments
- Conjugate vaccines formed the dominant
technology segment in terms of revenue in 2016. Higher adoption of these
vaccines and increase in prevalence of infectious diseases contribute to
its lead in the market for pediatric vaccines
- By application, the cancer segment is expected
to witness the fastest growth with a CAGR of 12.6% owing to increasing
prevalence of cancer and rising need for immunization against the disease
- North America held the largest revenue share in
2016. Its dominance in the market for pediatric vaccines is owing to
factors such as local presence of major players in the industry and
extensive R&D activities
- The Asia Pacific region is anticipated to
witness lucrative growth over the next decade due to increase in prevalence
of infectious diseases and a large target population
- Key players such as GlaxoSmithKline plc;
Pfizer, Inc.; SANOFI; and AstraZeneca dominated the global market for
pediatric vaccines in 2016.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has segmented the global pediatric vaccines market on
the basis of type, technology, application, and region:
Type
Outlook (Market Revenue in USD Billion, 2014 - 2025)
- Monovalent
- Multivalent
Technology
Outlook (Market Revenue in USD Billion, 2014 - 2025)
- Live
Attenuated
- Inactivated
- Subunit
- Toxoid
- Conjugate
- Others
Application
Outlook (Market Revenue in USD Billion, 2014 - 2025)
- Infectious
disease
- Cancer
- Allergy
Regional
Outlook (Revenue, USD Billion, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia
Pacific
- China
- Japan
- India
- Latin
America
- Brazil
- Mexico
- Middle
East & Africa
- South
Africa
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-pediatric-vaccine-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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