According to a recent report published by Fast Market Research, titled, Pediatric Drugs Market 2018: Market Value, Trends, Opportunity, forecast 2018-2024, “the global Pediatric Drugs market accounted for USD XX Million in 2018 and is estimated to reach USD XX Million by 2024. Moreover, it is anticipated to flourish at a CAGR of XX% during the forecast period i.e. 2018-2024.
Pediatric drugs are formulated to best suit a child’s age, size, physiologic condition, and treatment requirements. Furthermore, Pediatric drugs are different from adult drugs and only prescribed to children and infants for different diseases. Pediatric drugs are recommended in various conditions such as asthma, anorexia, congenital disabilities, cancer in children, growth deficiencies, juvenile diabetes, attention deficit hyperactivity disorder, and others. The global pediatric drugs market reached a market valuation of USD XX.X Billion in 2018 and is estimated to grow at a CAGR of XX.X% during the forecast period, i.e., 2019-2024.
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Market Insights
Growth Drivers – Pediatric drugs Market
Prevalence of Diseases in Children
There is always a strong prevalence of several common diseases in children such as chickenpox, Diarrhea, mumps, and others. These diseases are prevalent among children, and it requires medicinal help to fight such diseases. Some common infections among children such as Bronchiolitis, Croup, Common cold, Influenza, Strep throat & scarlet fever, ear infection, rashes and others are also on the rise. This regular occurrence of diseases among children is a significant factor that is anticipated to encourage the demand for pediatric drugs over the forecasted period. Apart from this, the mortality rate is also quite stronger among children aged 1-4 years and children aged 5-14 years. Congenital malformations, deformations, chromosomal abnormalities and cancer are some of the common reasons behind children deaths. For instance, the total number of infant deaths in the U.S. reached 22,335 in 2017.
Government Support & Encouragement for Children Health
Governments worldwide are funding and initiating various national programs to support the use of drugs to curb infant and child mortality rates. Apart from this, governments are also taking initiatives such as digital media advertisement, medical campaigns and others to increase awareness among people about child-related health issues. The rise in disposable income, along with recognition in people has augmented the growth of pediatric drugs across the globe, especially in developed countries.
Barriers – Pediatric drugs Market
Despite continuously increasing awareness about children health in developed countries, weak awareness, weak disposable income and insufficient government support in several developing in underdeveloped countries is a major challenge which is likely to hamper the growth of global pediatric drugs market.
Segmentation Analysis
The pediatric drugs market is segmented in different categories including by drug type, by application, by age group, by route of administration, and by end-user. The market is segmented by drug type into allergy and respiratory drugs, anti-infectives, cancer therapies, cardiovascular drugs, central nervous system drugs, gastrointestinal drugs, hormone drugs, and others. Among this segment, the allergy and respiratory drugs are expected to capture significant shares of the market in 2018. Global allergy & respiratory drugs segment was totalled at USD XXX.X billion in 2018 and is projected to reach USD XXX.X billion in 2024 at a CAGR of XX.X% from 2019 to 2024.
Moreover, based on the route of administration, the pediatric drugs market is further sub-segmented into oral, buccal, topical, parenteral, and other. Among which oral segment is about to register a remarkable growth rate in upcoming years. The report is further breakdown into three more sections including by application (pediatric clinical pharmacology, pediatric pharmacotherapy, and pediatric pharmacy), by end-user (Hospital, Clinic, and Drugstore) and by age group (Neonate (0– 30 days), Infant (1 month-2 Years), Young Child (2-6 Years), Child (6-12 Years), and Adolescent (12-18 Years)).
Geographical Analysis
Regionally, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. As opposed to the rest of the world, the Asia Pacific region has acquired considerable shares of the market and is poised to attain a healthy growth rate in the coming years. Constant disease prevalence rate, a growing number of pediatric hospitals, government initiatives and large population base are vital factors which are likely to bolster the growth of the global pediatric drugs market.
Competitive Analysis
The report also covers detailed competitive analysis of major market players of the global pediatric drugs market, such as Abbott Laboratories, Bayer, Boehringer Ingelheim, Bristol-Myers Squibb, Colgate Oral Pharmaceuticals, Eli Lilly, Forest Laboratories, Genentech, GlaxoSmithKline, Johnson & Johnson and other major & notable players. Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by business segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
Segmentation
By Application
– Pediatric Clinical Pharmacology
-Pediatric Pharmacotherapy
– Pediatric Pharmacy
By Age Group
– Neonate (0– 30 days)
– Infant (1 month-2 Years)
– Young Child (2-6 Years)
– Child (6-12 Years)
– Adolescent (12-18 Years)
By Route of Administration
– Oral
– Buccal
– Topical
– Parenteral
– Other
By Drug Type
– Allergy and Respiratory Drugs
– Anti-Infectives
– Cancer Therapies
– Cardiovascular Drugs
– Central Nervous System Drugs
– Gastrointestinal Drugs
– Hormone Drugs
– Others
By End-User
– Hospital
– Clinic
– Drugstore
By Geography
– North America (U.S. & Canada)
– Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
– Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
– Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
– Middle East & Africa (GCC, North Africa, South Africa and Rest of the Middle East & Africa)
Competitive Landscape
The report profiles various major market players such as
• Abbott Laboratories
• Bayer
• Boehringer Ingelheim
• Bristol-Myers Squibb
• Colgate Oral Pharmaceuticals
• Eli Lilly
• Forest Laboratories
• Genentech
• GlaxoSmithKline
• Johnson & Johnson
• Other Notable Players
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