Focus on Improving Primary Healthcare to
Bolster Demand
Over the
past two to three decades, considerable efforts have been made to develop and
improve global health, particularly in underdeveloped and developing regions. A
number of international organizations, such as the World Health Organization,
has been at the forefront in terms of development of new vaccines and therapies
to address a range of medical conditions among children. Several pediatric
vaccines are available, owing to research and development activities, which, in
turn, save nearly 2-3 million lives on an annual basis. As countries continue
to focus on improving the primary healthcare infrastructure, the demand for
pediatric vaccines is anticipated to witness major growth during the forecast
period.
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In the current scenario, governments of both developed as well
as developing regions are increasingly emphasizing on improving the
accessibility to pediatric vaccines– a factor that is expected to provide boost
to the global
pediatric vaccines market during the assessment period. Many market players
have entered the current pediatric vaccines market, and are inclined toward
leveraging advancements in technology and research to develop effective and
cost-efficient pediatric vaccines.
Advancements in Rotavirus Vaccines to Boost Global Market
Recent
advancements and breakthroughs in next-generation rotavirus vaccines are
expected to provide considerable boost to the global pediatric vaccines market
during the assessment period. The advent of novel rotavirus vaccines has played
an instrumental role in minimizing the number of diarrhea hospital admissions
among children that are five years or younger. Moreover, rotavirus has emerged
as a cost-efficient and full-proof long-term solution when incorporated within
national immunization programs.
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At
present, players involved in the current pediatric vaccines are increasingly
leaning toward addressing various challenges related to the rotavirus,
including compromised effectiveness and fading protection, particularly among
the children in low to middle-income nations. A number of attempts have been
made to improve the effectiveness of the rotavirus including new scheduling
alternatives, new formulations, development of new oral vaccines, and entry of
new types of vaccines such as injectable rotavirus. At present, market players
involved in the current market for pediatric vaccines are roping in efforts to
develop new vaccines and other effective approaches to vaccination to address
the looming global threat of the rotavirus disease.
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Moderate Impact of COVID-19 Pandemic on Pediatric Vaccines
Market
The
outbreak of the COVID-19 pandemic is expected to have a moderate impact on the
overall growth of the global pediatric vaccines market. The WHO and the UNICEF
issued warnings to highlight the potential decline in pediatric vaccines during
the COVID-19 pandemic due to factors including disruptions in the delivery of
immunization services. The onset of the COVID-19 pandemic is expected to hinder
and stall the progress made across the pediatric vaccines market over the past
few years. However, a number of market players are also likely to expand their
production capacities and manufacturing infrastructure to cater to the swelling
demand for various types of pediatric vaccines worldwide. Market players are
anticipated to focus on addressing various bottlenecks in vaccine production
and supply to gain advantage in the current market landscape for pediatric
vaccines.
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A number
of companies is likely to initiate testing of the newly developed vaccines for
COVID-19 among children. For instance, in December 2020, Moderna announced that
the company is expected to start testing the newly developed COVID-19 vaccine
in children. In addition, Pfizer, a U.S.-based pharmaceutical company announced
that the company has received the green signal from the U.S. FDA to start
enrolling children for coronavirus vaccine trials.
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