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Pediatric drugs and vaccines refer to the various medical supplies that are utilized for the treatment, prevention, and management of diseases in infants, children, and adolescents. Some of the subspecialties for pediatric drugs and vaccines include pediatric cardiology, pediatric critical care, pediatric oncology, pediatric pulmonology, and pediatric infectious disease. Timely and accurate administration of pediatric drugs and vaccines help children to remain healthy and disease free for the majority of their infancy or adolescence and develop into healthy adults.
Increasing number of births globally combined with the increasing prevalence of pediatric diseases are some of the factors driving the growth of global pediatric drugs and vaccines market. Increasing research and advances in pediatric drugs and vaccines, improvements in the immunization program and the emergence of pediatric drugs and vaccines in the emerging markets are some of the major factors driving the growth of the global pediatric drugs and vaccines market.
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According to the U.S. based non-profit organization Child Trends, in 2016, there were nearly 78 million children below the age of 18, accounting for 23.0% of the total U.S. population. The increasing pediatric population is expected to account for greater demand for pediatric drugs and vaccines and are expected to positively drive the market growth of the global pediatric drugs and vaccines market.
The factors limiting the growth of the global pediatric drugs and vaccines market are the lack of accessibility of pediatric drugs and vaccines in the emerging markets due to lack of awareness and inadequate healthcare infrastructure.
Some of the major companies that are present in the global pediatric drugs and vaccines market are Novartis AG, AstraZeneca, GlaxoSmithKline plc, Sanofi, Merck Sharp & Dohme Corp., Pfizer Inc., Mitsubishi Tanabe Pharma Corporation, Bharat Biotech, Zydus Cadila, Serum Institute of India Pvt. Ltd., Panacea Biotec Limited and others.
By Disease Indication
· Infectious Disease
· Allergy And Respiratory
· Nervous System Disorders
· Cardiovascular Disease
By Distribution Channel
· Hospital Pharmacies
· Retail Pharmacies
· Online Pharmacies
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
In 2018, among the distribution channel, vaccines dominated the global pediatric drugs and vaccines market due to the increase in high investment by pharmaceutical industries for the development of the pediatric vaccines and increased awareness about vaccination globally. This segment is projected to grow at comparatively higher CAGR during the forecast period.
North America dominated the global pediatric drugs and vaccines market in 2018. A large proportion of children in the region, increasing treatment options for pediatric diseases, established healthcare system and high per capita healthcare spending are some of the factors driving the growth of the pediatric drugs and vaccines market in the region. Easy access to advanced pediatric drugs and vaccines diagnostics due to advancements in research & development, increasing awareness regarding vaccination programs, and rising demand for preventive medical care are some factors anticipated to drive the growth of the pediatric drugs and vaccines market in North America. Asia Pacific is expected to grow at a significant CAGR during the forecast period due to the increasing awareness of pediatric diseases, increasing access to advanced pediatric drugs and vaccines, increasing disposable incomes and developing healthcare systems.
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