Pediatric Drugs and Vaccines: A Global Strategic Business Report
San Jose, California (PRWEB) September 30, 2014
Demand for pediatric drugs and vaccines is growing in sync with the increasing birth rate, and the rising incidence and prevalence of various disease and disorders among children across the globe. Historically, the market for pediatric drugs remained underserved due to the high cost of drug development, the complexities of pediatric clinical trials, and poor return on investment. Conducting pediatric clinical studies poses a number of challenges for pharmaceutical companies, including identifying a pool of pediatric subjects, designing separate study protocols for children, and the lack of sufficient funding. Due to the lack of clinical information and drug labeling for pediatric indications, prescription for off-label and extemporaneously-prepared drugs is rampant in the pediatric sector. However, the scenario is changing, with rising healthcare expenditure, increased government support, and favorable regulations such as market exclusivity, expected to catalyze the development of new pediatric drugs and vaccines.
The rising incidence of several rare conditions among the global population, along with the financial incentives offered by governments across the world is encouraging pharmaceutical companies to engage in the development and manufacture of Orphan Drugs. Drug trial simulation and modeling tools, such as the pharmacometrics, are aiding researchers in overcoming numerous challenges and are minimizing the failure rate associated with pediatric clinical studies.
The prospects for pediatric vaccines continues to remain bright, given the large-scale immunization programs being implemented by government and healthcare organizations worldwide for controlling outbreaks and eradicating diseases. Pediatric vaccines dominate the global vaccines market, driven by the launch of new vaccine products, such as DNA vaccines and conjugate vaccines. The market for pediatric hormones is being driven by the rising incidence of diabetes, obesity, thyroid conditions, and growth disorders among children.
As stated by the new market research report on Pediatric Drugs and Vaccines, the United States represents the single largest market worldwide. Asia-Pacific ranks as the fastest growing regional market with a CAGR of 11.3% over the analysis period, driven by the large pediatric population, coupled with rising government and individual healthcare spending. Among the therapeutic classes, Pediatric Antibiotics dominate value sales, while Pediatric Vaccines are poised to witness the overall fastest compound annual growth rate (CAGR) over the analysis period.
Key players covered in the report include Actelion Pharmaceuticals Ltd, Abbott Laboratories, Allergan Inc., Amgen Inc., AstraZeneca Plc, Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, Crucell N.V., Eli Lilly and Company, F. Hoffmann-La Roche Ltd, Genentech Inc., GlaxoSmithKline plc., InfaCare Inc., Merck & Co. Inc., Merck Serono, Novartis AG, Novo Nordisk A/S, Pfizer Inc., Sanofi S.A, Shionogi Inc., and Shire Pharmaceuticals Group Plc., among others.
The research report titled “Pediatric Drugs and Vaccines: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, regulatory trends, demographic and disease trends, and strategic industry activities of major companies worldwide. Market estimates and projections are provided for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America, and Rest of World. Key therapeutic classes analyzed in the report include Vaccines, Hormones, Allergy & Respiratory, Antibiotics, CNS, and Others.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Pediatric_Drugs_and_Vaccines_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.