A team led by the University of Edinburgh analysed data from 329 studies of Respiratory Syncytical Virus (RSV) infection worldwide.
Their estimates, published in The Lancet journal, indicate that there are more than 33 million cases of RSV infection in children under five globally each year.
Five countries - India, China, Nigeria, Pakistan and Indonesia - account for half of the estimated cases of RSV worldwide, researchers said.
Around three million are admitted to hospital each year with the virus, which causes breathing difficulties and wheezing.
Experts report that more than 115,000 children under five are dying each year from complications associated with the infection.
Almost half of those who die in hospital are younger than six months old and more than 99 per cent of deaths occur in developing countries, the study estimated.
"We are at an opportune time to step up efforts to prevent RSV infection in young children. With more than 60 candidate vaccines in clinical development, it is likely that an RSV vaccine will be available in the next 5-7 years," said lead researcher Harish Nair, professor at the University of Edinburgh.
Researchers say more data is needed from Africa and South Asia, where the number of RSV infections may be even higher.
For most babies and young children, it causes nothing more than symptoms of a cold. In some cases, however, it can lead to severe lung complications such as pneumonia or bronchiolitis, researchers said.
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