According to a recent report published by Fast.MR, titled, “Pediatric Drugs Market – By Drug Type (Allergy and Respiratory Drugs, Anti-Infectives, Cancer Therapies, Cardiovascular Drugs, Central Nervous System Drugs, Gastrointestinal Drugs, Hormone Drugs, And Others), By Route of Administration (Oral, Buccal, Topical, Parenteral, And Other), By Application (Pediatric Clinical Pharmacology, Pediatric Pharmacotherapy, and Pediatric Pharmacy), By End User (Hospital, Clinic, And Drugstore), 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)), & Global Region- Market Size, Trends, Opportunity, Forecast 2018-2024”. It evaluates the key market trends, advantages, and factors that are pushing the overall growth of the market. The report also analyzes the different segments along with major geographies that have more demand for Pediatric Drugs Market. The competition analysis is also a major part of the report.
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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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.
– Pediatric Clinical Pharmacology
– 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
By Drug Type
– Allergy and Respiratory Drugs
– Cancer Therapies
– Cardiovascular Drugs
– Central Nervous System Drugs
– Gastrointestinal Drugs
– Hormone Drugs
– 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)
The report profiles various major market players such as
• Abbott Laboratories
• Boehringer Ingelheim
• Bristol-Myers Squibb
• Colgate Oral Pharmaceuticals
• Eli Lilly
• Forest Laboratories
• Johnson & Johnson
• Other Notable Players
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