Transparency Market Research (TMR) has published a new report titled, “Pediatric Healthcare Products and Services Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global pediatric health care products and services market was valued at US$ 88,000 Mn and US$ 520,000 Mn, respectively, in 2017 and is projected to expand at a CAGR of 4.5% and 5.5% from 2018 to 2026. Rise in disorders and diseases among children is expected to drive demand for drugs used in the treatment of these conditions from 2018 to 2026.
Increase in funding for research on pediatric disorders, especially in countries such as the U.S., the U.K., and Germany, is expected to result in new treatment options for the management of various ailments in children. Rise in number of children with disorders and diseases such as allergies, asthma and other respiratory disorders, high blood pressure, obesity, mental disorders, and infectious diseases drives the global market. Moreover, increasing awareness levels about pediatric health, rise in the number of programs targeted towards safeguarding the interests and rights of the children along with promoting comprehensive development in them are expected to help in improving the overall well-being of children and boost the growth of the market during the forecast period.
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Countries across the globe are partnering with the industry in order to develop novel drugs for addressing concerns arising due to resistance developed by microorganisms toward antibiotic drugs. These initiatives are anticipated to channelize more investments for developing new and improved medicines to be used for combating antibiotic-resistant bacteria. Major pharmaceutical companies are focusing on new product launches along with expanding the indications of existing drugs for pediatric patients in order to tap into the large unmet needs and also subsequently boost their market share. These factors are likely to accelerate the growth of the market during the forecast period. However, stringent regulatory requirements are likely to restrain the market.