Pediatric Drugs - Market Insights, Competitive Landscape, and Market Forecast - 2030

Pediatric Drugs - Market Insights, Competitive Landscape, and Market Forecast - 2030

Pediatric Drugs Market By Indication (Respiratory Diseases, Cancer, Neurological Diseases, Genetic Diseases, And Others), By Route Of Administration (Oral, And Parenteral), By Distribution Channels (Hospital And Retail Pharmacy, E-Commerce, And Others), by geography is estimated to growth at a remarkable CAGR during the forecast period from 2024-2030 owing to rising number of pediatric patients suffering from multiple diseases and increasing research and development activities

The global pediatric drugs market is estimated to grow at a CAGR of 4.79% during the forecast period from 2024 to 2030. The pediatric drugs market is slated to witness prosperity owing to factors such as the rising prevalence of acute and chronic diseases among children, the increasing number of clinical trials for pediatric drugs coupled with the increasing child population, and the growing focus on improving the safety and usability of pediatric drugs are further expected to result in the appreciable revenue growth in the pediatric drugs market during the forecast period (2024-2030).

Pediatric Drugs Market Dynamics:

The rising prevalence of infectious diseases such as HIV, tuberculosis, malaria, and others among children is one of the major factors driving the growth of pediatric drugs. As per the data provided by UNICEF 2022, worldwide, out of an estimated 38.4 million cases of HIV in 2022, 2.73 million cases were of children aged between 0–19. As per the same source, every day nearly around 850 children became infected with HIV in 2022 across the globe.

As per World Health Organization 2022, worldwide around 400,000 children and adolescents aged between 0 and 19 years develop cancer each year and out of all cancers leukemias, brain cancers, lymphomas, and solid tumors, such as neuroblastoma and Wilms tumors are the most common types of childhood cancers.

The number of pharmaceutical trials going on for pediatric drugs is likely to assist the growth of the pediatric drug market. For example, Evrysdi (risdiplam, RG7916) is an investigational oral SMN2 splicing modifier being studied in the treatment of spinal muscular atrophy in pediatric patients by F. Hoffmann-La Roche Ltd. in partnership with PTC Therapeutics and SMA Foundation.

However, side effects associated with pediatric drugs and stringent regulatory policies may act as a restraint in the growth of the pediatric drugs market.

The pediatric drugs market reported a short period of a setback in the market growth owing to the implementation of the lockdown as a necessary step to stop the spread of COVID-19 infection. This led to a decline in the development and manufacturing of pediatric drugs owing to a shortage of raw materials. However, with the resumption of activities across industries including the healthcare and pharmaceutical sector, there has been a rising demand for pediatric drugs owing to the resumption of activities. The post-COVID scenario is going to be healthy for pediatric drugs and is expected to grow during the forecast period from 2024-2030.

Pediatric Drugs Market Segment Analysis:

Pediatric Drugs Market by Indication (Respiratory Diseases, Cancer, Diabetes, Genetic Diseases, and Others), Route of Administration (Oral and Parenteral), Distribution Channels (Hospital and Retail Pharmacy, E-Commerce, and Others), Geography (North America, Europe, Asia-Pacific, and Rest of the World)

Based on the route of administration segment of the pediatric drugs market, the oral category is projected to register a significant growth in revenue in the pediatric drugs market during the forecast period (2024-2030).

This can be ascribed to the advantages associated with the oral route of administration of drugs in pediatric patients. Oral administration of drugs in children is non-invasive and non-painful as compared to the parenteral route of administration and hence more acceptable by both parents and their children.

It is the simplest and safest method of administering drugs to children and does not cause severe reactions. It does not require training and is less objectionable than the parenteral method in the case of pediatric patients.

Also, the increasing research and development activities w.r.t. oral pediatric drugs are going to provide a conducive environment for the growth of the pediatric drugs market.

For instance, In March 2022, Pfizer Inc. announced that it has started Phase II/III Study of Novel COVID-19 Oral Treatment in Pediatric Participants. The study aims to evaluate the safety, pharmacokinetics, and efficacy of Pfizer’s PAXLOVID™ in non-hospitalized, symptomatic, pediatric participants with a confirmed diagnosis of COVID-19 who are at risk of progression to severe disease.

Therefore, considering the advantages associated with oral pediatric drugs and their growing popularity, this product category is expected to generate considerable revenue thereby pushing the overall growth of the global pediatric drugs market during the forecast period.

North America is expected to dominate the overall Pediatric Drugs Market:

Among all the regions, North America is expected to lead in revenue generation in the global Pediatric Drugs market. This can be ascribed to the increasing prevalence of pediatric diseases across the region, a highly potent market in terms of product development and launches, and the local presence of key market players among other factors in the region.

The continuous research and development happening in the region are likely to accelerate the growth of pediatric drugs. For instance, according to the Pharmaceutical Research and Manufacturers of America (PhRMA) report 2020, more than 2,100 industry-sponsored pediatric clinical trials were going on in 2020 in the United States testing around 580 investigational medicines with the involvement of more than 1.2 million pediatric patients across a variety of therapeutic areas, including diseases where there is a significant unmet medical need.

The rising number of cases of developmental disorders among children is another possible factor affecting the growth of the pediatric drug market. For instance, according to the Centers for Disease Control and Prevention 2022 based on the National Survey of Parents data from 2016-2019, around 6 million children aged between 3-17 years were diagnosed with Attention-deficit/hyperactivity disorder (ADHD).

The increasing product launches and approvals in the region are other factors bolstering the growth of the pediatric drugs market in the region. For example, In May 2020, Sanofi received the US Food and Drug Administration (FDA) approval Dupixent® (dupilumab) for children aged 6 to 11 years with moderate-to-severe atopic dermatitis.

Hence, the above-mentioned factors are expected to bolster the growth of the pediatric drug market in the United States during the forecast period.

Pediatric Drugs Market Key Players:

Some of the key market players operating in the Pediatric Drugs market include ORPHELIA Pharma, BioMarin Pharmaceutical Inc., Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., AstraZeneca, Sanofi, Viatris Inc., Novartis AG, GSK plc. Bayer AG, Cipla Inc., Sumitomo Pharma Co., Ltd, Gilead Sciences, Inc., Takeda Pharmaceutical Company Limited, Pfizer Inc., Mestra Pharma, Otsuka Pharmaceutical Co., Ltd., F. Hoffmann-La Roche Ltd, UCB S.A., Supernus Pharmaceuticals, Inc., and others.

Recent Developmental Activities in the Pediatric Drugs Market:

In November 2022, BioMarin Pharmaceutical Inc. announced that the U.S. Food and Drug Administration (FDA) has granted accelerated approval to VOXZOGO™ (vosoritide) for Injection, indicated to increase linear growth in pediatric patients with achondroplasia five years of age and older with open epiphyses (growth plates).

In October 2022, Enzyvant announced the U.S. Food and Drug Administration (FDA) approval of RETHYMIC® which is a one-time regenerative tissue-based therapy for immune reconstitution in pediatric patients with congenital athymia.

In June 2022, Novartis AG, a leader in immuno-dermatology and rheumatology, received the U.S. Food and Drug Administration (FDA) approval for Cosentyx® (secukinumab) which is intended for the treatment of moderate to severe plaque psoriasis in pediatric patients aged six years and older.

Key Takeaways from the Pediatric Drugs Market Report Study

Market size analysis for current pediatric drugs market size (2023), and market forecast for 6 years (2024-2030)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the pediatric drug market.

Top key product developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years

Key companies dominating the global pediatric drugs market.

Various opportunities available for the other competitor in the pediatric drugs market space.

What are the top-performing segments in 2023? How these segments will perform in 2027.

Which are the top-performing regions and countries in the current pediatric drugs market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for pediatric drug market growth in the coming future?

Target Audience who can be benefited from this Pediatric Drugs Market Report Study

Pediatric drugs providers

Research organizations and consulting companies

Pediatric Drugs -related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in pediatric drugs

Various distribution channels who want to know more about the pediatric drugs market and the latest product innovations and developments in the pediatric drugs market.

Frequently Asked Questions for the Pediatric Drugs Market:

1. What are pediatric drugs?

Pediatric drugs are those medications that are intended for treating infants, children, adolescents, and young adults suffering from any kind of disease condition.

2. What is the market for global pediatric drugs?

The global pediatric drugs market is estimated to grow at a CAGR of 4.79% during the forecast period from 2024 to 2030.

3. What are the drivers for the global pediatric drugs market?

The pediatric drugs market is slated to witness prosperity owing to factors such as the increasing prevalence of chronic diseases among children, the increasing number of clinical trials for pediatric drugs, and the growing focus on improving the safety and usability of pediatric drugs are further expected to result in the appreciable revenue growth in the pediatric drugs market during the forecast period (2024-2030).

4. Who are the key players operating in the global pediatric drugs market?

Some of the key market players operating in the pediatric drugs market include ORPHELIA Pharma, BioMarin Pharmaceutical Inc., Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., AstraZeneca, Sanofi, Viatris Inc., Novartis AG, GSK plc. Bayer AG, Cipla Inc., Sumitomo Pharma Co., Ltd, Gilead Sciences, Inc., Takeda Pharmaceutical Company Limited, Pfizer Inc., Mestra Pharma, Otsuka Pharmaceutical Co., Ltd., F. Hoffmann-La Roche Ltd, UCB S.A., Supernus Pharmaceuticals, Inc., and others.

5. Which region has the highest share in the pediatric drugs market?

North America is expected to dominate the overall pediatric drugs market during the forecast period, 2024 to 2030. This can be ascribed to the increasing research and development activities w.r.t. to pediatric drugs in the region, the increasing number of pediatric patients suffering from various diseases, high-tech medical facilities, government initiatives, and a highly potent market in terms of product development and launches, and the local presence of key market players among other factors in the region.