The pediatric vaccines market has experienced remarkable growth, showcasing a strong compound annual growth rate (CAGR) of 7%. The market has now reached an impressive value of US $2.5Bn in 2019. This growth is attributed to the increasing awareness about the importance of immunization, advancements in vaccine technology, and the efforts of healthcare organizations to expand vaccination coverage among children worldwide. The rising prevalence of infectious diseases and government initiatives to combat them have also played a significant role in propelling the demand for pediatric vaccines.
The report "Pediatric Vaccines Market, By Technology (Live Attenuated, Inactivated, Toxoid, Conjugate, and Other Technologies), By Vaccine Type (Monovalent, and Multivalent), By Application (Pneumococcal Disease, Influenza, Measles, Mumps, and Rubella (MMR) and Other Applications), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030. The global pediatric vaccines market is growing up to the US $ 2.5 billion in 2019.
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Key Highlights:
• In 2018, GlaxoSmithKline PLC. Signed an agreement with Novartis to secure full ownership of the consumer healthcare business.
Analyst view:
According to industry analysts, the pediatric vaccines market is positioned for sustained growth in the coming years. The robust CAGR 7% and impressive market value indicate a favorable outlook for vaccine manufacturers and healthcare providers. Analysts attribute this growth to several factors, including the continuous efforts to improve vaccine development, expanding vaccination programs in developing regions, and the introduction of new vaccines targeting a broader range of diseases.
Competitive players:
The prominent player operating in the global pediatric vaccines market includes GlaxoSmithKline PLC., Indian Immunologicals Limited, AstraZeneca, Merck & Co. Inc., Mitsubishi Tanabe Pharma Corporation, Johnson & Johnson, Pfizer Inc., Sanofi SA, and Seqirus (CSL Limited)
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