Incidence of Metabolic Conditions, CNS, and Cardiovascular Diseases Among Children Drives the Pediatric Drugs Market, According to New Report by Global Industry Analysts
San Jose, California (PRWEB) May 14, 2012
Follow us on LinkedIn – The global pharmaceutical industry has always focused on the aging population, and the therapeutic drugs market for children has long been undervalued and underserved. However, the pediatric drugs market is currently emerging as an area of opportunity for drug manufacturers. Globally, about 26,500 children, aged below five years, die on a daily basis from preventable diseases. Pneumonia, Diarrhoea, Malaria, and AIDS are the major causes behind the high death toll in children. As a result, pediatric drugs market bodes tremendous opportunities for the pharmaceutical companies. Battered by the global economic downturn, the global pharmaceutical industry is beginning to see pediatric drugs sector as the ray of hope for increasing its profits. Segments such as anti-infectives, vaccines, and allergy and respiratory drugs, are fast emerging as profitable pediatric medicine segments. Moreover, changing lifestyles, and increasing instances of chronic conditions such as obesity, diabetes, and hypertension are also acting as growth propellers for the pediatric drugs market.
Over the years, children have long suffered as therapeutic orphans, witnessing problems such as lack of quality clinical trials, unlicensed medicines, appropriate information, and formulations. However, with the recent recognition and industry acceptance of distinct therapeutic needs for pediatric patients, initiation of regulatory programs has led to re-defining of norms for the pediatric industry. Several regulations, such as Best Pharmaceuticals for Children Act (BPCA), Pediatric Drug Research Equity Act (PREA), Food & Drug Administration Modernization Act (FDAMA), have been set up for rectifying flaws in the pediatric drugs market. Moreover, to encourage drug manufacturers for performing clinical trials for the pediatric population, the FDA and EMA have adopted new regulations. Several other factors are also driving growth of the pediatric drugs market, and the industry is expected to be one of the fastest growing drug markets in the ensuing years.
Sales in the pediatric drugs market are likely to surge in the following years, owing to the new approvals of numerous existing products, as well as the launch of new products, targeted mainly at children. Growth is primarily expected to emanate from pediatric vaccines, hormone therapy drugs, along with other segments such as respiratory and allergy products, CNS drugs, and anti-infective drugs. Further, sales of other drugs, including obesity medicines, are expected to grow, following their approval for pediatric use. Meanwhile, sales of OTC (Over-the-Counter) drugs are expected to remain stable, where growth is primarily expected to emanate from the increased use of popular products, such as OTC ibuprofen for children.
The US represents the largest regional market for pediatric drugs and vaccines globally, as stated by the new market research report on Pediatric Drugs and Vaccines. Europe trails behind the US market. However, growth in the market would be led by Asia-Pacific, which is projected to be the fastest growing regional market, and is forecast to witness a CAGR of more than 9.0% during the analysis period. Anti-infective Drugs represents the largest segment, while Pediatric Vaccines represents the fastest growing segment in the global pediatric drugs and vaccines market. Global market for Pediatric Hormones is forecast to grow at a CAGR of 6.6% during the analysis period.
Several innovative drug-delivery technologies are under development for facilitating easy administration of pediatric drugs, as taste and texture are major issues witnessed in the consumption of medicines by children. Moreover, to minimize the use of injections in children, various other needle-free, non-invasive alternatives such as inhalable formulations, thin-strip technologies, and transdermal patches, are prevalent.
Major players profiled in the report include Abbott Laboratories, Allergan Inc., AstraZeneca Plc., Amgen Inc., Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Genentech Inc., GlaxoSmithKline Plc., Merck & Co. Inc., Merck Serono, Novartis AG, Novo Nordisk A/S, Pfizer Inc., Sanofi, UCB Pharma, Shire 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 the pediatric drugs and vaccines markets, current market trends, key growth drivers, overview of diseases in children, the prevalence, the treatment, insight into pipeline drugs, recent product approvals, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for pediatric drugs and vaccines market for years 2009 through 2017 for the following geographic markets - US, Europe, Asia-Pacific, Latin America, and Rest of World. The report analyses the market for pediatric drugs and vaccines market by the following segments – Pediatric Vaccines, Pediatric Hormones, Allergy & Respiratory Drugs, Anti-infective Drugs, CNS Drugs, and Other Pediatric Drugs. Also, a six-year (2003-2008) historic analysis is provided for additional perspective.
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 more than 1300 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.