17 January 2018 - - San Francisco, California-based market research and consulting company Grand View Research, Inc. expects the global pediatric vaccines market to reach 60.4 bn by 2025 at an 11.7% CAGR, the company said.
Advancements in development of vaccines and new product launches are some of the major drivers of the market, and an increase in investments by companies to capture a larger market share is anticipated to propel growth.
Some of the factors attributed to increase in investment are high growth prospects in the emerging market, immunization schedule mandated by doctors for children, and awareness programs led by UNICEF, WHO, and other healthcare organizations.
Furthermore, increase in number of government initiatives for raising awareness about immunization is expected to boost the market for pediatric vaccines.
Advancements in development of novel adjuvants and therapeutic vaccines are expected to drive growth during the forecast period. Ongoing research in novel molecules targeted at specific mechanisms of action in the body is aimed at providing immunity against fatal diseases such as cancer and Zika virus disease.
Grand View Research provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.