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.
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.
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.
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.
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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The following regional segments are covered comprehensively:
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Below is a snapshot of these quadrants.
1. Customer Experience Map
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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