Global Childhood
Vaccine Market: Vaccine
The
global childhood
vaccine market is projected to grow at a healthy rate over the forecast
period. The rising number of deadly infection has led to advent of many
vaccines that can prevent children from diseases like meningitis, pneumonia,
and hepatitis etc. The increasing numbers of pediatric clinics are anticipated
to drive the global childhood vaccine market towards growth.
Transparency
Market Research (TMR) report elucidates on share, size, and trend of the global
childhood market. The report also includes factors that influence growth,
restraints that hinder market, and the geographical out look of the childhood
vaccine market.
Global Childhood Vaccine Market: Notable Developments
Several
developments have taken place in the global childhood vaccines market, some of
the recent development in this area are:
The
Pfizer, global leader in healthcare drugs and vaccines was granted a FDA
approval in 2018 for breakthrough therapy and vaccine in meningococcal B group.
The drug is named as TRUMENBA®, this prevents children from 1 year to 9
years of age from both the diseases meningitis and pneumococcal.
In
2019, The Committee for Medicinal Products for Human Use recommends the
approval for Dupixent® for
atopic dermatitis in children from 12 years to 17 years age group.
The
global childhood vaccines market comprises of several healthcare companies.
However, some of the prominent market players include Sanofi, Pfizer, Hissen,
CSL, Merck, and China National Biotech.
Global Childhood Vaccine Market: Drivers and
Restraints
New Born Promotes Childhood Vaccine Market
Several
thousands of birth takes place every year and the birth rate is highest in
developing countries, pushing the growth of the global childhood vaccine market
during the forecast period. Additionally, growing number of maternity clinics
where the new-borns are administered vaccines soon after the birth to protect
them against virus and other communicable infections are expected to surge the
demand.
Rising Government Support Growth in Childhood Vaccine
Market
The
increasing number of initiatives from government to provide basic vaccines such
as protection against TB, cholera, and flu etc. are anticipated to boost the
sales in the global market. Further, rising awareness among parents through pre
natal and post natal programs, TV commercials from government and NGOs are
expected to drive the global childhood market to grow in the upcoming years.
School mandates of immunization to protect children from infection and
immunization drives carried out in schools are anticipated to expand the
childhood vaccine market.
Rising
disposable income and compulsory vaccines that are spread across two years are
also reasons that may surge the global childhood market over the forecast
period.
Although,
there are several vaccines available to protect against deadly diseases, these
vaccines may not reach the poor countries on time. The high cost of many
vaccines may not be affordable by all, which may hinder the growth of the
global vaccine market.
Nevertheless,
the rising investment on research and development and development of innovative
vaccines are projected to push the global childhood market to expand in future.
Global Childhood Vaccine Market: Geographic Analysis
Asia
Pacific is expected to be the major contributor in the global childhood market
during the forecast period. The growth in this region can be attributed ever
increasing birth rate, rising awareness, and increasing disposable income.
North
America may also play a significant role in the global childhood vaccine market
due to the availability better medical infrastructure. Moreover, promising
outcomes of research and developments and clinical trials are expected to
expand the childhood vaccine market.