Pediatrics Medicine Market size was estimated at $101 billion in 2020, projected to grow at a CAGR of 5.2% during the forecast period 2021-2026. Pediatrics Medicine industry has witnessed huge demand owing to the rising pediatric diseases such as cystic fibrosis, asthma, and other infectious diseases. Montelukast sodium and clavulanate are the medicines used for asthma and variety of infectious diseases respectively. Pediatric medicine is a branch of medicine that is specifically designed for infants, children and adolescents.
The term Pediatrics means healer of children. The pediatric medicine is a combination of Pediatrics and emergency medicine. All pediatricians that deal with pediatric medicine are more concerned with congenital abnormalities, genetic variation and developmental problems. The pediatric medicine market grows significantly as children suffer from respiratory, gastrointestinal, allergic and other chronic diseases owing to their weaker immunity.
For instance, the Global Health Observatory (GHO) has released a fact sheet on the leading causes of child mortality in 2018. According to 2017 figures, diarrhea is the leading cause of the deaths among children, and neonatal deaths was reported 47% of deaths among children under age 5, demanding for effective treatment is boosting the market growth. Moreover, the pediatric medicine market is growing owing to an increase in the prevalence of renal or pulmonary dysfunctions and genetic disorders like cystic fibrosis.
Pediatrics Medicine Market Segment Analysis – By Type of Medicine:
Based on Medicine Type, Pediatrics Medicine Market is segmented into Autoimmune Disorder Medicine, Respiratory Disorder Medicine, Cardiovascular Medicine, Gastrointestinal Medicines. Respiratory disorder segment is accounted for the largest revenue market share in 2020 owing to the lower immunity of children and growing pollution coupled with exposure of allergens that results in chronic respiratory disorders.
For instance, Chronic obstructive pulmonary disease is a major cause of pediatric healthcare burden. Montelukast is used for prophylaxis of asthma from age of 2 years and older than that, where the predominant component is exercise induced broncho-constriction. Autoimmune disorders segment is poised to grow with the fastest CAGR of 5.8% in the forecast period 2021-2026. This is attributed to the rising prevalence of genetic disorders, cancers and cystic Fibrosis that provide incentives in order to assist and aid the development of medicines for such rare autoimmune disorders.
Pediatrics Medicine Market Segment Analysis – By Route of Administration:
Based on route of administration, Pediatrics Medicine Market is segmented in to Topical, Oral, Parenteral and Others. Oral segment accounted for largest revenue market share in 2020. As Oral delivery of medicines is the most preferred route of administration for the pediatric patients owing to its non-invasive form and has less risk of pain. In addition, parents feel much comfortable to deliver medicine by this method, and leads to improved compliance for the medicine administrated via this route.
Topical segment is anticipated to grow with the fastest CAGR of 5.9% in the forecast period 2021-2026. This is owing to the low risk of adverse reactions and drug interactions coupled with ease of administration to a child. Moreover, very less amount of drug is used, low cost and high concentration of antibiotics while applied on affected area are some of the factors contributing to the growth of this segment in the Pediatrics medicine market.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=507060
Report Price: $ 5900 (Single User License)
Pediatrics Medicine Market Segment Analysis – By Geography:
Based on Geography, North America Pediatrics Medicine Market accounted for the 37% revenue share in 2020. This is majorly attributed to the rising number of pediatric cases that are suffering from various respiratory disorders, autoimmune disorders, muscular atrophy, cerebral palsy coupled with adoption of advanced technologies in the U.S. for instance, American Academy of allergy, Asthma & Immunology statistics has estimated that in 2018, more than 40% children in the U.S have allergies thereby rising demand for pediatric medicine is boosting the market in this region.
Cystic fibrosis is a most common genetic disorder among white people in the U.S. It occurs in 1 in 2,500 to 3,500 white new born. Whereas, Cystic fibrosis is less common in other groups, it affects about 1 in 17,000 African Americans and 1 in 31,000 Asian Americans. Moreover, the launch of new products by the market’s major players in this region, government initiatives that creates awareness in people for pediatric medicines like Montelukast sodium, clavulanic acid and others and early approvals by the USFDA aid to the growth of the market in this region. Asia-Pacific market is poised to grow with the fastest CAGR in the forecast period 2021-2026 owing its increase in population, increasing health care expenditure coupled with government initiatives and other healthcare policies in this region is contributing to the growth of the market in this region.
Pediatrics Medicine Market Segment Analysis – Drivers
Increasing development of Pediatric Medicine Formulations:
Over the past two decades, regulators have made considerable efforts to encourage pharmaceutical companies in order to develop pediatric medicines, especially orphan drugs for the rare and ultra rare diseases and drugs for cystic fibrosis. Over the last few years, new regulations and legislation have resulted in a substantial increase in the number of new route of administration options for the patients in this category. Designing, recruiting and running various pediatric clinical trials, as well as determining acceptable end points are still difficult tasks, but many major clinical research organizations now provide specialized services in this field. Moreover, the increase in FDA approvals of such medicines is further contributing to the growth of the market. For instance, in May 2019, Jacobus Pharmaceutical company has received an U.S. FDA approval under Priority Review and Fast Track designations for RUZURGI tablets (amifampridine). It also received orphan drug designation for treating Lambert Eaton myathenic syndrome (LEMS) in pediatric population.
Pediatrics Medicine Market Segment Analysis – Challenges
Lack of Understanding Amongst Physicians Regarding Effectiveness of Medicines:
Despite of the major difficulties and cost associated with developing age appropriate formulations, medicines for treating pediatric conditions are becoming more difficult. As they are specific formulations formulated for certain age group, sometimes they lack in providing label instructions for the pediatric patients. Moreover, physicians rarely rely on their clinical judgement to study it and know how to administer a medicine and what was it intended for. This approach increase the risk, as too much medicine turns to be toxic, and too little is said to be ineffective for the treatment.
Pediatrics Medicine Market Segment Landscape:
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Pediatrics Medicine Market. Pediatrics Medicine Market top 10 companies are Cipla, Inc., Lupin, Pfizer Inc., F. Hoffman-La Roche Ltd, Sanofi S.A., Abbott Laboratories, Eli Lilly & Company, Merck Co.Ltd., Heron Therapeutics Inc., Novartis A.G.
Acquisitions/Product Launches
In April 2019, GSK has received approval from U.S. Food and Drug administration for its intravenous Benlysta, the first ever medicine in the US to be approved for children suffering from systemic lupus erythematous (SLE).
Key Takeaways
Geographically, North America Pediatrics Medicine Market held the largest revenue share of 37% in 2020 owing to the region demand.
Significant R&D techniques adopted by the key players of the market is one of the major factors supporting global pediatric medicine market.
Increase in FDA approvals for pediatric medicine formulations are propelling the market for the Pediatrics Medicine.
Related Reports :
A. Pediatric Supplements Market
https://www.industryarc.com/Report/15129/pediatric-supplements-market.html
B. Pediatric Marke
https://www.industryarc.com/Report/1290/pediatric-market-analysis.html
For more Lifesciences and Healthcare Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/
