Children Vaccination Market: Overview
Vaccination is the mechanism to strengthen the immune system to fight against specific antigen. It involves injection of antigens which are weaker version of target viruses. These antigens produce antibodies when body is exposed to similar kind of antigens, in future. This is one of easiest way to prepare the body to fight against certain diseases. Most vaccines are given in the developing stage of the immune system.
With rising awareness among people, they are more inclined towards immunization. Medical practitioners prescribe set of vaccines at the time of birth. These vaccines are administered in the early years to fight attack from viral and bacterial diseases. Besides, subsidized cost of vaccines and efforts by government bodies for children’s health, especially in developing countries, has led to surface of dedicated children vaccination programs.
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Owing to all the benefits offered by vaccination and awareness among people, vaccination segment is the leading contributor to the overall pharmaceuticals sector. Moving further, since most vaccinations are done at an early age, paediatric use vaccines contribute significantly to the entire vaccination market.
The market report on children vaccination market covers major drivers and trends which are fuelling the growth of the said market. The insights given in the report focus on challenges and threat in the vaccination market, and how it will shape the future growth of the market. Besides, it also discusses the advancements in the vaccines brought by various companies.
Children Vaccination Market: Trends and Opportunities
Various national government bodies in collaboration with international bodies are trying to raise awareness regarding immunizations among people. World Health Organization (WHO) and philanthropic organizations including Bill & Melinda Gates Foundation are supporting research and development of low cost vaccines.
In May 2012, WHO introduced Global Vaccine Action Plan (GVAP) to ensure easy access of immunization worldwide. The plan was authorized by 194 member states of the world health assembly.
Government in various countries are providing subsidized or free of cost vaccination to reduce the risk of respective diseases. Also, government bodies are funding various research and development programmes to develop vaccines for new viruses. Altogether, these factors are translating into opportunities for growth and expansion of children vaccination market.
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Children Vaccination Market: Regional Outlook
In North America, government is forming new policies to support vaccination of newborns. Besides, there are also various companies that are trying to develop new vaccines. As a result of all these factors, North America is anticipated to be the leading contributor to children vaccination market in the duration of forecast period (2017-2025). Most probably, Europe will follow North America.
Countries such as India and China are witnessing high birth rate. This, in turn, is fuelling the demand for vaccines in the region. As a result, the children vaccination market is projected to grow in Asia Pacific region.
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Children Vaccination Market: Competitive Analysis
Some of the key players in the children vaccination market are Merck & Co., GlaxoSmithKline, Pfizer, Sanofi Pasteur, and Novartis
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