Global Pediatric Drugs Market, By Type (Respiratory disorder drugs, Autoimmune disorder drugs, Gastrointestinal drugs, Cardiovascular drugs), By Route of Administration (Oral, Topical, Parenteral, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2024-2033

Report Overview

The global Pediatric Drugs Market size is expected to be worth around USD 95.4 Billion by 2033 from USD 28.8 Billion in 2023, growing at a CAGR of 12.7% during the forecast period from 2024 to 2033.

The drugs differing fron adult drugs which are prescribed to the population age between 2 to 12 years, is known as pediatric drugs. The growing preterm birth and intrapartum complications combined with the rising infectious diseases among pediatric population including diarrhoea, malaria, and pneumonia are becoming the major causes of death among children under the age of 5 across the world. Thus, this necessitates prompt care among pediatric population.

• According to Union Nations International Children’s Emergency Fund (UNICEF) 2020 report, aprroximately 5.2 million children under the age of five were anticipated to die by 2020, equating 13, 900 children dying every day.

A keen focus is emphasized by pharmaceutical companies to formulate medicines especially for pediatrics by considering their age, weight and development of their body. The market for pediatric drugs is boosted by virtue of the fact of kids often facing health issues like allergies, stomach issues, respiratory problems due to their weaker immune systems. These drugs are delivered into the body of children through diverse pathways depending upon the root cause such as oral, applied on skin, or intravenous and others, prioritizing safety and efficacy of medicines.

• European Medical Agency and Food & Drug Administration have standardized their rules to ecourage research and ensure safe and efficient medicines for children.

Key Takeaways

• Market Size: Pediatric Drugs Market size is expected to be worth around USD 95.4 Billion by 2033 from USD 28.8 Billion in 2023
• Market Growth: The market growing at a CAGR of 12.7% during the forecast period from 2024 to 2033.
• Type Analysis: Respiratory disorder drugs domiante market by 39.4% market share in 2023.
• Route of Administration Analysis: Oral route segment dominate the market by 48.7%.
• Distribution Channel Analysis: Hospital pharmacies leads the market for pediatric drugs capturing a valuable market share of 52.7% in the year 2023.
• Regional Analysis: North America region dominate 34.9% market share in 2023.
• Innovative Treatments: There is a surge in the development of innovative pediatric treatments, including new formulations of existing drugs, gene therapies, and child-friendly medications that improve compliance and outcomes.
• Regulatory Approvals: The market is seeing an increase in regulatory approvals for pediatric-specific drugs, reflecting a focus on addressing the unique medical needs of children.
• Acquisitions and Mergers: Strategic acquisitions and mergers are common, as companies aim to expand their pediatric drug portfolios and enhance their capabilities in developing new treatments for children.

By Type Analysis

Respiratory disorder drugs is a major leader in 2023

Based on type, the market is bifurcated into Respiratory disorder drugs, Autoimmune disorder drugs, Gastrointestinal drugs and Cardiovascular drugs. Amongst all these, a large market share of 39.4% is accounted by respiratory disorder drugs in the year 2023. The supremacy of the segment is highly attributed to prevalence of respiratory ailments across the globe, encompassing conditions like asthma, respiratory infections, and chronic obstructive pulmonary disease.

These ailments cumulatively demands for medications addressing these health challenges. COVID 19 pandemic revolutionized the area of respiratory disorder drugs, necessitating efficacious drugs targeting respiratory illnesses.

In addition, the market experiences rapid growth by virtue of continuous advancements and research efforts in the related segment, ranging from biologics to inhalation therapies.

• According to Global Burden of Disease (GBD), lung diseases are among most common causes of death in children under 5 years, counting both acute infectious processes and chronic conditions. Where as, asthma affects about 14-15% of children across the globe, also being a most common disease in children.

Following closely, gastrointestinal segment is projected to grow at a substantial CAGR of 13.9% during the forecast period. This owes to the fact of children dealing more with gastrointestinal issues, ranging from reflux and irritable bowel syndrome to inflammatory bowel diseases, ultimating specialized treatments for pediatric population.

By Route of Administration Analysis

Oral route of administration dominates the market

Based on route of administration, the market is disjointed into Oral, Topical, Parenteral and Other segments. A commendable market share of 48.7% is withheld by oral route of administration segment in the year 2023. A combination of factors drives the segments’ growth in recent years. Due to ease and convenience in administrating children with medications, oral route segment play a pivotal role especially for those who does not go with injections or other forms of drug administration. Oral drugs have become a primary choice for pediatric medication due to its easy administration and accurate dosing.

In addition, patients’ compliance is up scaled with the availability of pediatric-friendly oral formulations including chewable tablets, pleasant-tasting liquids, and syrups. Thus, all these facets collectively leads to growth of the segment, thereby bolstering the market position.

By Distribution Channel Analysis

A large market share is grabbed by hospital pharmacy segment

Based on distribution channel, the market is fragmented into Hospital Pharmacies, Retail Pharmacies and Online Pharmacies. Hospital pharmacies leads the market for pediatric drugs capturing a valuable market share of 52.7% in the year 2023. The dominance of the segment is highly attributed to an amalgamation of factors. Being a crucial point of access for pediatric medications, hospitals are primary healthcare centres for children.

In addition, hospital poharmacies accurately manage and dispense specialized pediatric formulations, ensuring safety and efficacy of dose. The infrastructure of hospital pharmacies coupled with expertise and accessibility of medications makes hospital pharmacies highly dominant. The pediatric drugs market further propels by the collaborational effots between hospitals and pharmaceutical industries, bolstering the impact of hospital pharmacies in the pediatric drug market.

Key Market Segments

By Type analysis

• Respiratory disorder drugs
• Autoimmune disorder drugs
• Gastrointestinal drugs
• Cardiovascular drugs

By Route of Administration

• Oral
• Topical
• Parenteral
• Other

By Distribution channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Drivers

Hoist of Chronic illnesses

Chronic illnesses such as asthama, growth deficiencies, cancer in children, juvenile diabetes and anorexia are becoming gigantic in recent years. The scaling of such illnesses among pediatric population creates an ultimatum for pharmaceutical firms to formulate highly advanced and efficacious pediatric drugs addressing specific health condition. This demand pressurize the formulation of medications leading to upswing of the market.

• According to World Health Organization, the 3^rd leading cause of death was referred to Chronic Obstructive pulmonary disease, resulting in 3.23 million death of children in 2021.

Rising investments for healthcare foundation

Pediatric drugs market showcased a significant growth due to rising healthcare expenditures assiting in amelioration of infrastructure. In addition, healthcare infrastructure is further improved by increased fundings by various government organizations, propelling the markets’ trajectory.

• The cumutative Foreign Direct Investment (FDI) inflow into drugs and pharmaceuticals industry in India from April 2000 to December 2022 was the USD 21.22 billion, accounting for nearly 3% of the total FDI inflow across all sectors.

Restraints

A combination of factors restricts the market growth

A major constraining factor in the expansion of pediatric drugs market is the limited number of study population in pediatric research. Side affects associated with pediatric drugs such as headache along with anxiety is the another key factor limiting the market reach. Developing economies comprise of a poor health care infrastructure causing problems in advancement of pediatric drugs.

In addition to this, the market faces challenges with the dearth of skilled professionals and lack of recognition among people regarding the advantageous pediatric medications. Thus, these factors contributes to the impediment of the market in the near future.

Opportunities

Acceleration of research and development activities

The implenetation of Best Pharmaceuticals for Children Act (BPCA) and Pediatric Research Equity Act (PREA) is expediting the research and development activities related to pediatric drugs by virtue os escalating R&D investments. The market gains popularity with the quick witted drug approvals by Food and Drug Administration (FDA) coupled with new product launches in the market, fostering its market space.

In addition, the pediatric drug market witnesses promising growth opportunities with the increasing investments for formulating advanced medication and technology development proving beneficial for pediatric drugs market.

• In May 2019, RUZURGI (amifampridine) tablets formulated by Jacobus Pharmaceutical company received approval from Food and Drug Administration under priority review and fast track designations.

Latest Trends

Several advancements are made in the area of pediatric drugs resulting into market expansion. Some of these advances include:

Gene Therapy: The treatment of pediatric genetic disorders is completely revolutionized due to advancements in gene therapy. These gene therapies are under clinical trials for evaluating their safety and efficacy for diverse conditions including Duchenne muscular dystrophy and spinal muscular atrophy coupled with inherited metabolic disorders.

Digital Health Technologies: The monitoring of pediatric patients has become convienient due to the integration of digital technologies such as mobile apps and wearbale devices in the pediatric treatment procedures. These advanced technologies helps pediatric population to adhere to the medication regimens, allow smooth communication between patients, caregivers and healthcare providers, thereby ameliorating treatment results and patient engagement.

Impact of Macroeconomic factors

The market for pediatric drugs is highly influenced by population demographics highlightening size and age distribution of pediatric population. The region faces greater medication demand with high pediatric population, resulting it in growth of the market. Pandemic or disease outbreaks can also impact the market, as more the children affected with infectious diseases more is the demand for related medications.

However, the changes in currency enchange rates can have a vital effect on cost import and export of pharmaceutical drugs, impacting the pricing and availability of pediatric drugs in diverse market areas.

Regional Analysis

North America proves to be highly advanced region in pediatric drugs market

A comparatively large market share of 34.9% is secured by North America, overshadowing the global pediatric drugs market in the year 2023. The region is at the forefront of market owing to highly improved healthcare infrastructure and sturdy research and development activities. High pervasiveness of chronic illnesses in children coupled with increased recognition regarding pediatric care among population is  bolstering the market in recent years.

In addition, the pharmaceutical industries strictly comply with stringent regulatory standards in order to ensure safety and efficacy of pediatrics, thereby declining the rate of drugs’ side effects.

• According to an article published in JAMA Network in 2020, asthma was attributed as one of the most common chronic disease in children. Approximately 6.2 million children were diagnosed with asthma in United States which is roughly around 8% of the population. This costed the USD 81.9 billion in annual healthcare cost, leading an ultimatum for pediatric medication.

On a contrary, a fastest market growth is anticipated by Asia-Pacific region at the highest CAGR during 2024-2033. The region excels in the related field by virtue of escalating pediatric population, healthcare access improvisation, thriving the demand for pediatric drugs. Furthermore, the region encompass growing infectious diseases among children coupled with increasing drugs approvals by regulatory authorities which further screw the market position during the forecast period.

Key Regions and Countries

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherland
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Players Analysis

The major companies are focusing on growth strategies such as product developments, new product approvals, and mergers & acquisitions to enhance their share of the worldwide pediatric drugs market. Approvals by regulatory authorities play a pivotal role in extending the medication use by the pediatric consumers. For instance, an antiviral medication, Veklury (remdisivir) was approved by Food and Drug Administration for childrens’ use above 12 years old.

Market Key Players

• Horizon Therapeutics Plc.
• Jazz Pharmaceuticals, Inc.
• Gilead Sciences, Inc.
• Biomarin Pharmaceutical, Inc.
• Sanofi
• AstraZeneca
• Cipla, Inc.
• Apotex Inc.
• Endo international Plc.
• Bayer AG
• Sun Pharmaceuticals, Inc.
• Novartis AG
• Hikma Pharmaceuticals Plc.

Recent Developments

• Horizon Therapeutics Plc. (May 2024): Horizon Therapeutics Plc. launched a new pediatric formulation of their drug Tepezza, designed to treat thyroid eye disease in children. This formulation aims to provide a more effective and child-friendly treatment option for young patients.
• Jazz Pharmaceuticals, Inc. (April 2024): Jazz Pharmaceuticals, Inc. acquired a pediatric oncology startup to expand its portfolio of pediatric cancer treatments. This acquisition enhances Jazz’s capabilities in developing innovative therapies for children with cancer.
• Gilead Sciences, Inc. (March 2024): Gilead Sciences, Inc. introduced a pediatric version of their antiviral medication, Veklury, targeting children with severe COVID-19. This new product aims to improve outcomes for pediatric patients battling the virus.
• Biomarin Pharmaceutical, Inc. (June 2024): Biomarin Pharmaceutical, Inc. launched a new gene therapy for treating a rare pediatric metabolic disorder. This therapy represents a significant advancement in the treatment options available for young patients with this condition.
• Cipla, Inc. (April 2024): Cipla, Inc. introduced a new pediatric antibiotic syrup, specifically formulated to treat bacterial infections in children. This product aims to offer an effective and palatable treatment option for young patients.
• Apotex Inc.(May 2024): Apotex Inc. acquired a pediatric drug manufacturing facility to increase its production capacity for pediatric medications. This acquisition aims to meet the growing demand for child-specific pharmaceutical products.

Report Scope