The increasing prevalence of pediatric diseases are driving the global pediatric drugs and vaccines market, says Fortune Business Insights in a report, titled “Pediatric Drugs and Vaccines Market Size, Share and Global Trend By Product (Vaccines, Drugs) By Disease Indication (Infectious Disease, Cancer, Allergy And Respiratory, Nervous System Disorders, Cardiovascular Disease, Diabetes, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) and Geography Forecast till 2026.” The rising number of births around the world is fostering the growth of global pediatric drugs and vaccines market.
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Improvements in the Immunization Program Will Facilitate Growth
The increasing pediatric population around the world is predicted to fuel demand for pediatric drugs and vaccines which will, in turn, promote the growth of the global pediatric drugs and vaccines market. 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. Further, the rising number of births around the world along with the increasing prevalence of pediatric diseases are some of the factors contributing to the global pediatric drugs and vaccines growth.
In addition, Increasing R&D activities in pediatric drugs and vaccines, improvements in the immunization program and the emergence of pediatric drugs and vaccines in the emerging nations are some of the prime factors that are boosting the global pediatric drugs and vaccines revenue. However, the lack of accessibility of pediatric drugs and vaccines in the developing countries due to lack of awareness and inadequate healthcare infrastructure are factors restricting the growth of the global pediatric drugs and vaccines market.
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By Disease Indication
- Infectious Disease
- Allergy And Respiratory
- Nervous System Disorders
- Cardiovascular Disease
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Increasing Treatment Option for Pediatric Diseases Will Foster Growth in North America
Geographically, the global pediatric drugs and vaccines market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. North America led the global pediatric drugs and vaccines market in 2018 and is expected to continue dominating during the forecast period. A large children pool and increasing treatment options for pediatric diseases are driving the global pediatric drugs and vaccines market.
Well-established healthcare system and high per capita healthcare expenditure are further speeding up the growth of the pediatric drugs and vaccines market in the region. In addition, Easy access to advanced pediatric drugs and vaccines diagnostics due to improvements in research & development along with escalating demand for preventive medical care are contributing positively to the global pediatric drugs and vaccines growth in North America.
Asia Pacific is expected to grow at a considerable rate during the forecast period owing to the rising awareness of pediatric diseases and increasing access to advanced pediatric drugs and vaccines. Rising disposable incomes and developing healthcare systems in further adding to the pediatric drugs and vaccines shares in Asia Pacific.
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