Pediatric Vaccines Market Regional Outlook,Trends,Growth
Posted by Pareesh on June 5th, 2018
Pediatric vaccines perform significant role in reduction of various childhood infectious disease such as measles, diphtheria, Poliomyelitis, and Haemophilus influenzae type b (Hib). Increasing adoption of pediatric vaccines have significantly led to increase in global vaccination coverage. According to the World Health Organization (WHO), immunization helps to prevent around 2 to 3 million deaths annually. Moreover, vaccination is the most cost–effective and efficient heath investment, which is accessible to hard-to-reach locations and vulnerable populations. According to the data published by Centers for Disease Control and Prevention (CDC), in April 2014, vaccination was estimated to prevent around 21 million hospitalizations and around 732,000 deaths among children born between 1994 and 2013. High prevalence of infectious disease, combined with increasing numbers of government initiatives for raising awareness regarding immunization and development of novel adjuvants and therapeutic vaccines are expected to drive growth of pediatric vaccines market during the forecast period.
The global pediatric vaccines market was valued at US$ 23,317.0 million in 2017 and is expected to witness a CAGR of 10.8% over the forecast period (2018 – 2026)
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Increasing government initiatives for pediatric vaccines are expected to drive growth of the pediatric vaccines market
Increasing engagement by various government healthcare regulatory organization and private organizations in minimizing the pediatric disease, is expected to propel demand for pediatric vaccine over the forecast period. For instance, in 2013, World Health Organization (WHO): Europe launched the flu Awareness Campaign initiative to spread awareness regarding flu among the European population. In 2002, the United Nations Children's Fund (UNICEF) initiated the Social Mobilization Network (SMNet) in India, in order to irradiate the polio from India. According to the data published in the Journal of Infectious Diseases in July 2017, Social Mobilization Network resulted in increasing immunization coverage in the high-risk areas of India from 36% in 2009 to 81% in 2016 in Uttar Pradesh and from 54% in 2009 to 88.5% in 2016 Bihar. Moreover, increasing involvement of various healthcare regulatory organizations in minimizing the pediatric infectious disease is expected to augment growth of the pediatric vaccines market in near future.
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About the AuthorPareesh
Joined: May 31st, 2017
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