The pediatric drugs market is projected to grow at a considerable CAGR of around 5% during the, forecast period (2020-2026). The growing prevalence of several disorders such as asthma, anorexia, birth defects, cancer in children, growth deficiencies, juvenile diabetes, and attention deficit hyperactivity among others is a major factor creating the demand for pediatric drugs. The presence of several acts such as Best Pharmaceuticals for Children Act (BPCA) and the Pediatric Research Equity Act (PREA) is further propelling the major players to increase the investments on R&D activities for the development of the pediatric drugs. Furthermore, the growing pediatric population across the globe is predicted to accelerate the demand for pediatric drugs which in turn, is anticipated to drive the market growth. According to the US-based non-profit organization Child Trends, in 2017, there were 73.7 million children younger than 18 in the US, accounting for 22.6% of the total population.
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In addition, growing R&D activities in pediatric drugs, improvements in the immunization program and the proliferation of pediatric drugs in the emerging countries are among the major factors that are promoting the growth of the pediatric drugs market during the forecast period. However, the lack of accessibility of pediatric drugs in emerging countries due to lack of awareness and healthcare infrastructure are the major factors that are anticipated to restrict the growth of the global pediatric drugs market. In addition, side effects associated with the dosage of pediatric drugs such as anxiety, headache, and fatigue are the other factors to restrain its market growth.
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Global Pediatric Drugs Market Segmentation
By Drug Type
- Allergy and Respiratory Drugs
- Cancer Therapies
- Cardiovascular Drugs
- Gastrointestinal Drugs
- Others
By Route of Administration
- Oral
- Topical
- Parenteral
- Other (Buccal)
By Application
- Pediatric Clinical Pharmacology
- Pediatric Pharmacotherapy
- Pediatric Pharmacy
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