The Global Market for Pediatric Drugs and Vaccines is Forecast to Reach US$143.2 Billion by 2024

Government Funded Initiatives to Reduce Infant Mortality Rates Drives the Global Pediatric Drugs and Vaccines Market, According to a New Report by Global Industry Analysts, Inc.

                                                                                                

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Pediatric Drugs and Vaccines market. The global market for Pediatric Drugs and Vaccines is forecast to reach US$143.2 billion by 2024, spurred by continued government efforts especially in developing countries to reduce infant mortality and the resulting expansion of diseases covered under national immunization programs. The market also stands to benefit from rising early-onset of diseases and health conditions such as diabetes, obesity, and hypertension.

The pediatric drugs market continues to grow globally, led by strong developments in medical research and the resulting development of prevention strategies for numerous childhood diseases and illness. Growing awareness among parents over child health and growing government focus on reducing preventable deaths by making child health a national priority, represent other major factors driving growth. In the developed world, including the U.S. and Europe, growing awareness about child health and increasing disposable incomes, coupled with rising incidence of early-onset diabetes, obesity, and hypertension are leading to higher use of pediatric drugs. Pediatric drug sales are likely to surge in the coming years, owing to the pediatric extension status for numerous existing products, as well as the launch of new products.

The market is dominated by antibiotics, while hormone drugs are witnessing rapid growth backed by rising incidence of diabetes, growth disorders and thyroid conditions. The Orphan Drug Act serves to further the cause of pediatric drugs through development of specialty drugs for orphan diseases, many of which happen to manifest during childhood. Increasing birth rates in developing markets also serve as a major market trigger. The recent child healthcare programs undertaken by the WHO and UNICEF will further boost the pediatric vaccines market. Pneumococcal vaccines accounted for the highest share, driven by the high prevalence of pneumonia.

As stated by the new market research report on Pediatric Drugs and Vaccines, the United States represents the largest market worldwide, supported by the country’s focus on raising healthy children and regulations that promote new drug development. Rising incidence of obesity in children, which is considered to be the primary reason behind the rising incidence and prevalence of gastroesophageal reflux disease and hypertension among children, also represents one of the important growth drivers for pediatric drugs market in the country. Asia-Pacific ranks as the fastest growing market with a CAGR of 11.3% over the analysis period, driven by the large pediatric population; changing lifestyle and environmental factors and the resulting increase in ailments such as ADHD; high prevalence of malaria, and other parasitic infections which are endemic to tropical Asian climate; and globalization of drug development and gradual increase in the capability of Asian companies to research, develop and manufacture pediatric agents.

Key players in the market include Abbott Laboratories, Allergan Inc., Amgen Inc., AstraZeneca Plc, Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche Ltd, Genentech Inc., GlaxoSmithKline Plc., Janssen Biologics B.V, Merck & Co. Inc., Novartis AG, Novo Nordisk A/S, Pfizer Inc., Sanofi, Shionogi Inc., and Shire Pharmaceuticals Group Plc., among others.

The research report titled “Pediatric Drugs and Vaccines: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, regulatory trends, demographic and disease trends, and strategic industry activities of major companies worldwide. Market estimates and projections are provided for major geographic markets, including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America, and Rest of World.  Key therapeutic classes analyzed in the report include Vaccines, Hormones, Allergy & Respiratory, Antibiotics, CNS, and Others. The report also analyzes the global pediatric vaccines market by segment - Combinations, Hepatitis, MMR, Varicella, Poliovirus, Pneumococcal, and Others.

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