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2019-06-18
320
Global
Pediatric vaccines are encountered to be the most successful and cost-effective tools for the improvement of public health by preventing most of the death cause diseases. This has led to ongoing increase in awareness and demand for pediatric vaccines across the globe. Moreover with the changing global environment and spread of new diseases, the R&D on the diseases for their vaccines will continue to attract the investments. But entry of new players in vaccines market is very difficult on the back of risks attached from pre-approval process to mass production. Further, the high technological advancement in the pharmaceutical industry is the key driving factors of the global pediatric vaccines market. The technologies such as synthetic vaccinology and platform manufacturing, can accelerate the process and diminish manufacturing time of new vaccines.
The GAVI business model, public-private vaccine alliance, and the morbidity issues in a region has shaped the market in terms of assessing the production, supply and prices of the vaccines. The U.S. has now achieved more than 95% reduction in morbidity rates. More than 90% of the infants are recorded to have receiving most important and recommended vaccinations by the age of 2 years. Whereas, in the African countries there still is a long way to go to achieve such morbidity rates.
Further, parental concerns and awareness regarding the vaccination is the most essential part of the complete pediatric vaccination campaign. Across the developing and under developed countries, vaccination awareness campaigns are carried out by the government, NGO’s and other healthcare agencies. Therefore, these campaigns have been the major factor for the rise in production of pediatric vaccines and growth in revenue of the pharmaceutical companies. In recent years, with the launch of new vaccines such as HPV vaccine & others has led to expansion of pediatric vaccines market. This market is majorly supplied by four companies namely, GlaxoSmithKline, Sanofi‐Pasteur, Pfizer and Merck, with a market share of 75% in 2017. The total pediatric vaccines market is expected to reach nearly USD 45,600 million by 2025, which is estimated to grow at a CAGR of USD 10.2% over the forecast period.
Our Global Pediatric Vaccines Market can be segmented on the following basis:
Based on Technology
Based on Vaccine Type
Based on End User
Based on Geography
Based on technology, conjugate/subunit vaccines accounted for largest market share of 31.8% in 2017 owing to the fact that they provide strong immunization to the targeted areas by the vaccine germ and benefiting with the creation of herd immunity, thus it has high adoption across the world.
As per the estimates of Centers for Disease Control and Prevention (CDC) for the period of November 2017 to February 2018, it concluded that influenza A (H3N2) virus vaccines were 36% effective including both adults and children. On the other hand, among the children between 6 months to 8 years effectiveness for flu vaccines was 59%. This reflects the efficiency of pediatric vaccines as compared to adult vaccines. Thus, for the manufacturers of the vaccines it is feasible to target those regions with high generation Z population and low morbidity rate.
UNICEF with the government, NGOs and more UN agencies are taking steps to provide immunization to children. The lives of the children at risk equally impacts the wellbeing of their society and thus UNICEF is approaching all poorer countries and every remote locations in the world by the GAVI, the private-public vaccine alliance. The vaccine industry players such as GlaxoSmithKline, Sanofi‐Pasteur, Pfizer and Merck among others have joined hands with UNICEF for the investments and technologies to improve and develop new vaccines. Furthermore, the new vaccines are witnessed to reach children in the developing countries at much rapid pace, due to the actions of GAVI. Moreover, the prices of vaccines in these countries are significantly low as compared to developed countries i.e. in 2015 price of PCV was nearly USD 2 among the 3,200 million people demand, whereas in USA the price of PCV was nearly USD 100 among the 96 million people demand.
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