Vaccines contain antigens that are weakened versions of viruses or something that looks like a virus. These produce antibodies that protect the body if exposed to the same antigens in the future. Since 2000, the global vaccine market has almost tripled, making the vaccine industry one of the fastest growing sectors in the pharmaceutical industry.
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The sales of new and costly vaccines are higher in developed countries which account for more than half of the total vaccine sales globally. Broadly, the vaccines market is categorized into pediatric vaccines and adult vaccines. The pediatric vaccines segment accounts for a significant market share of 57.6% of the total vaccines market.
Unmet needs for vaccination, especially in developing countries, large funding from national governments and international bodies such as the World Health Organization (WHO) and philanthropy organizations such as Bill & Melinda Gates Foundation, research and development of new vaccines, increasing awareness, development of low-cost vaccine manufacturing facilities, entry of China market are factors driving the growth of the vaccine market. Additionally, the vaccine supply is generally looked through state government funding under public health support. This has reduced the barrier to immunization by providing free vaccines to infants and children in need. Governments across the world are striving to ensure that every part of a country should get easy access to immunization irrespective of its social and economic status. This resulted in the launch of Global Vaccine Action Plan (GVAP) in May 2012 by the WHO that was authorized by 194 member states of the World Health Assembly. The UNICEF and the WHO have published certain guidelines to develop a national immunization plan and a comprehensive multi-year plan (cMYP) for all the countries aiming for an easy access to vaccination facilities for all individuals.
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Furthermore, increasing research and development activities by pharmaceutical companies are driving the growth of the vaccines market. Needle-free vaccines, edible vaccines, intranasal vaccines, and vaccine patches and chips are expected to enter the market soon.
The children vaccination market is segmented on the basis of type of vaccine, severity and prevalence of disease, indication, end-user, and region. In terms of type of vaccine, the market is categorized as attenuated live viruses, inactivated (killed) viruses, subunit vaccines including purified or recombinant viral antigen, recombinant virus vaccines, anti-idiotype antibodies, and DNA vaccines. In terms of severity of disease, the market is segmented as Universal Immunization Program (UIP++) vaccines, mandatory vaccines, regular optional vaccines, one-time optional vaccines (exhibit), and post incident vaccines. The UIP segment, vaccines for diseases with a high life-threatening potential and particularly recommended for infants, includes bacillus Calmette-Guerin (BCG) vaccine and diphtheria, pertussis and tetanus (DPT) vaccine. Few of the emerging vaccines which are soon to be included in UIP and considered as mandatory are pneumococcal; meningococcal; measles, mumps, and rubella (MMR); human papilloma virus (HPV); and rotavirus. Vaccines for diseases with a low life-threatening potential (generally for adults) include typhoid and one-time optional vaccines such as cholera. Post incident vaccines include rabies vaccine. Based on indication, the market is segmented as DTP, pneumococcal disease, meningococcal disease, influenza, hepatitis, varicella, polio, MMR, human papilloma virus (HPV) infection, and others. In terms of end-user, the market is segmented as pediatrics and adults. The pediatrics segment is expected to grow faster as a result of increasing prevalence of diseases in children.
Geographically, the market is distributed over North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global market for children vaccination owing to the increasing government support and growing research and development by numerous companies. Europe is the second largest market after North America. The market in Asia Pacific is projected to expand at a fast growth rate owing to high birth rate in India and China.
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The global children vaccination market is dominated by key players such as GlaxoSmithKline, Sanofi Pasteur, Merck & Co., Pfizer, and Novartis.