Pediatric Medicines Market Size, Share, Trends, Growth, Forecasts, 2032

Pediatric Medicines Industry Prospective:

The global Pediatric Medicines market size was worth around USD 130.11 billion in 2023 and is predicted to grow to around USD 375.58 billion by 2032 with a compound annual growth rate (CAGR) of roughly 12.5% between 2024 and 2032.       

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Pediatric Medicines Market: Overview

Pediatrics is the area of medicine concerned with the health and medical treatment of babies, children, and adolescents from birth to the age of eighteen. The goals of pediatric research are to minimize newborn and child mortality, restrict the spread of infectious illness, promote healthy lifestyles for a long disease-free life, and alleviate the concerns of children and adolescents with chronic disorders.

The market growth of pediatric medicines is growing due to several variables such as the increasing prevalence of cancer, the rising number of research and development activities, rising expenditure in the creation of advanced technologies and growing drug approvals and launches.

Key Insights

• As per the analysis shared by our research analyst, the global Pediatric Medicines market is estimated to grow annually at a CAGR of around 12.5% over the forecast period (2024-2032).
• In terms of revenue, the global Pediatric Medicines market size was valued at around USD 130.11 billion in 2023 and is projected to reach USD 375.58 billion, by 2032.
• The growing incidence of chronic conditions in the pediatric population is expected to propel the market growth over the forecast period.
• Based on the type of medicine, the Respiratory Disorder Medicine segment is expected to hold a significant market share over the forecast period.
• Based on the type of disease, the Infectious Disease segment is expected to grow at a substantial rate during the forecast period.
• Based on the route of administration, the oral segment is expected to capture the largest market share during the forecast period.
• Based on the distribution channel, the Hospital pharmacies segment is expected to dominate the market over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

Pediatric Medicines Market: Growth Drivers

The growing prevalence of chronic disorders drives market growth

The growing incidence of chronic disorders in the pediatric population is one of the important factors that propel the pediatric medicine industry during the analysis period. For instance, as per the NCI Surveillance, Epidemiology, and End Results (SEER) Program, each year in 2016–2020 there were:

• 17.4 cancer diagnoses per 100,000 children ages younger than 15 years
• 75.3 cancer diagnoses per 100,000 adolescents and young adults ages 15 to 39 years
• 534.4 cancer diagnoses per 100,000 adults ages 40 to 64 years

The most prevalent cancers diagnosed in adolescents and young adults (AYAs) include those that are more common in adults than in children, such as breast cancer, melanoma, and thyroid cancer. However, certain diseases, such as testicular cancer, are more commonly detected in AYAs than in younger children or adults. Thus, the aforementioned stats are driving the market growth.

Pediatric Medicines Market: Restraints

Lack of understanding among physicians hampers market growth

Despite the significant challenges and costs associated with producing age-appropriate formulations, drugs for treating pediatric diseases are becoming increasingly complex. Because they are particular formulations designed for certain age groups, they may not often include label recommendations for pediatric patients. Furthermore, clinicians hardly use their clinical judgment to analyze a drug and determine how to give it and what it is designed for. This strategy raises the risk since too much medicine can be harmful, and too little is thought to be ineffectual for therapy.

Pediatric Medicines Market: Opportunities

Rising product approval offers a lucrative opportunity for market development

The increasing product approvals are expected to offer a lucrative opportunity for market growth during the forecast period. For instance, in September 2023, the FDA approved for Priority Review the supplementary Biologics License Application (sBLA) for Dupixent® (dupilumab) to treat eosinophilic esophagitis (EoE) in children aged 1 to 11 years. The FDA's ruling is set to take effect on January 31, 2024. Dupixent is the first and only medication licensed in the United States for children and adults aged 12 and up with EoE who weigh at least 40 kg.

Pediatric Medicines Market: Challenges

Limited pediatric expertise poses a major challenge to market growth

The scarcity of pediatric specialists such as pediatric pharmacologists, impedes the development of personalized medications and specialized healthcare services for children. For instance, the Rural Health Statistics report shows that there is a shortfall of more than 80% of the required surgeons and pediatricians in the 6,064 Community Health Centers across India.

Pediatric Medicines Market: Segmentation

The Global Pediatric Medicines industry is segmented based on the type of medicine, type of disease, route of administration, distribution channel, and region.

Based on the type of medicine, the global Pediatric Medicines market is bifurcated into Respiratory Disorder Medicine, Autoimmune Disorder Medicine, Cardiovascular Medicine and Gastrointestinal Medicines. The Respiratory Disorder Medicine segment is expected to hold a significant market share over the forecast period. Children's decreased immunity, along with increased pollution and allergen exposure, leads to chronic respiratory diseases. For instance, chronic obstructive lung disease is a significant contributor to the pediatric healthcare burden. Montelukast is used to prevent asthma in children aged two and up, with the major component being exercise-induced bronchoconstriction. Thereby, driving the segment growth.

Based on the type of disease, the global Pediatric Medicines industry is categorized into Respiratory diseases, Infectious Diseases, CNS diseases, Gastrointestinal diseases, Oncological diseases and others. The Infectious Disease segment is expected to grow at a substantial rate during the forecast period owing to the high prevalence of infectious diseases. For instance, according to the National Institute of Health, infectious diseases account for a major share of the 10 million fatalities among children under the age of five that occur each year. These include 36% of the 4 million neonatal fatalities from sepsis, pneumonia, diarrhea, and tetanus. Estimates and uncertainty boundaries for postneonatal fatalities owing to infections include 22% attributable to diarrhea (14-30%), 21% to pneumonia (14-24%), 9% to malaria (6-13%), and 1% to measles (1-9%). 42 nations alone are responsible for about 90% of the worldwide burden of child mortality.

Based on the route of administration, the global Pediatric Medicines market is categorized into Oral, Topical, Parenteral and Others. The oral segment is expected to capture the largest market share during the forecast period because oral medications are generally more convenient for parents and caregivers to administer.

Based on the distribution channel, the global Pediatric Medicines industry is divided into Hospital Pharmacies, Retail Pharmacies and Online Pharmacies. The Hospital pharmacies segment is expected to dominate the market over the forecast period. Hospital pharmacies adhere to strict regulatory standards, ensuring that medications meet quality and safety requirements. Thereby, driving the segment expansion.

Pediatric Medicines Market: Report Scope

Regional Analysis

North America is expected to dominate the market during the forecast period

North America is expected to dominate the market during the forecast period. The regional market growth is attributed to the increasing prevalence of various chronic disorders among children. For instance, according to the data published by the CDC, in the United States, more than 40% of school-aged children and adolescents suffer from at least one chronic health condition, including asthma, obesity, other physical diseases, and behavioral/learning issues.

Moreover, the presence of major players in the regional market includes, Pfizer, AstraZeneca, Johnson & Johnson and others. Furthermore, the rising FDA approvals are also propelling the pediatric medicine industry in the region. Acadia Pharmaceuticals Inc. has received FDA approval for DAYBUE™ (trofinetide), a therapy for Rett syndrome in adults and children aged two and above. DAYBUE is the first and only medicine licensed for treating Rett syndrome.

Pediatric Medicines Market: Competitive Analysis

The global Pediatric Medicines market is dominated by players like:

• Novartis AG
• GlaxoSmithKline
• Pfizer Inc.
• Merck & Co.
• AstraZeneca
• Johnson & Johnson
• Sanofi
• Roche Holding AG
• Teva Pharmaceutical Industries
• Eli Lilly and Company
• Novo Nordisk A/S
• Boehringer Ingelheim
• Bristol-Myers Squibb
• AbbVie Inc.

The global Pediatric Medicines market is segmented as follows:

By Type of Medicine

• Respiratory Disorder Medicine
• Autoimmune Disorder Medicine
• Cardiovascular Medicine
• Gastrointestinal Medicines

By Type of Disease

• Respiratory Diseases
• Infectious Diseases
• CNS Diseases
• Gastrointestinal Diseases
• Oncological Diseases
• Others

By Route of Administration

• Oral
• Topical
• Parenteral
• Others

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa