Vaccination is necessary for newborns to be protected against diseases such as pneumonia, polio, and influenza. Vaccination imitates a specific pathogen (infection-causing organism) and stimulates the immune system to make antibodies that develop resistance to diseases caused by these pathogens in the future. The global pediatric vaccine market is estimated to account for US$ 37,567 Mn in terms of value in 2019 and is expected to reach US$ 98,859 Mn by the end of 2027.
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The worldwide paediatric vaccine market is likely to develop at a faster rate over the forecast period as people become more aware about vaccinations and immunisation. In the United States, for example, January is Cervical Health Awareness Month, during which the need of regular immunisation and screening in the prevention of cancer is promoted. Furthermore, rising instances of invasive cervical cancer are likely to enhance market growth. Cervical cancer can be avoided by getting vaccinated against HPV and having regular cervical checkups. According to the American Cancer Society, roughly 13,800 new instances of invasive cervical cancer are predicted to be diagnosed in the United States in 2020, with 4,290 women dying as a result of the disease.
Europe region held dominant position in the global pediatric vaccine market in 2018, accounting for 27.0% share in terms of value, followed by North America.
The high cost of paediatric vaccines is likely to stifle the global market for paediatric vaccines. Many vaccines are exclusively available from one or two companies. Due to the large expenditure required to manufacture a vaccine, there are generally fewer providers for newer vaccinations. As a result, the price of vaccines rises. Furthermore, the market’s expansion is projected to be hampered by vaccination accessibility in rural areas. According to the World Health Organization, around 19.4 million infants under the age of one year were not given essential immunizations in 2018. Around 60% of these children came from developing nations like Angola, Brazil, the Democratic Republic of Congo, Ethiopia, India, and Indonesia. Nigeria, Pakistan, the Philippines, and Viet Nam.
For companies in the worldwide paediatric vaccines market, R&D of novel vaccines is likely to provide lucrative growth prospects. Merck & Co, Inc., for example, began two Phase III studies of PCV-15 (V114), an experimental polyvalent conjugate vaccination for the prevention of pneumococcal illness, in April 2018. Vaccines for diseases like West Nile virus and Zika virus can also be developed by market companies. As of April 2019, no vaccines have been authorised for clinical use; however, a variety of vaccines, such as neutralising antibodies and ZPIV, ZIKV purified inactivated viral vaccine, are now in clinical studies. The Pneumococcal Vaccine sub-segment of the vaccine type sector in the global paediatric vaccines market was worth US$ 10,299.7 million in 2018, and is predicted to grow at a CAGR of 14.4% to US$ 36,120.1 million by 2027.
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The market is growing due to the increased participation of government and non-government groups in promoting vaccination. For example, in December 2019, the World Health Organization certified Pneumosil, a third pneumococcal conjugate vaccine produced by India’s Serum Institute. The Bill and Melinda Gates Foundation helped fund the project. .
Multivalent vaccinations are becoming increasingly popular on the market. For example, in December 2019, University of Nottingham researchers published a study that could lead to a better vaccination to defend against the bacterium Neisseria meningitides, which causes sepsis and meningitis. The research also emphasised the relevance of multivalent immunizations in preventing mutations.
GlaxoSmithKline Plc., Merck & Co., Inc., Pfizer Inc., Sanofi S.A., Panacea Biotec, Zydus Cadila, Emergent BioSolutions Inc., Serum Institute of India Pvt. Ltd., Bharat Biotech, and Indian Immunologicals Ltd. are among the major competitors in the global paediatric vaccine market. .
Major market participants are also concentrating on producing new vaccines in order to extend their product line. For example, NewLink Genetics Corporation gained FDA approval for ERVEBO or Zaire Ebola virus vaccine V920 in December 2019.Clinical trials are a priority for the market’s major players as they seek to extend their product portfolio. Soligenix, Inc., for example, started a research in December 2019 to evaluate the safety of RiVax, a lyophilized ricin toxin A-chain subunit vaccine with alum adjuvant.
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Current and future of global Pediatric Vaccines market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
Regions/countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
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Major Point Answered in Pediatric Vaccines Market Research Study are:
What will be the progress rate of the Pediatric Vaccines Market for the conjecture period, 2020-2027?
What are the prominent factors driving the Pediatric Vaccines Market across different regions?
Who are the major vendors dominating the Pediatric Vaccines industry and what are their winning strategies?
What will be the market scope for the estimated period?
What are the major trends shaping the expansion of the industry in the coming years?
What are the challenges faced by the Pediatric Vaccines Market?
Actual Numbers & In-Depth Analysis, Business opportunities, Market Size Estimation Available in Full Report.
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