Paediatric Respiratory Disease Therapeutics Market to Witness Soaring Growth During 2017-2027

Respiratory diseases that affect the air passages that includes nasal passages, bronchi, trachea, and lungs. Respiratory diseases are the major cause of mortality and morbidity in pediatrics. Children are more prone to respiratory infections as they are highly susceptible to viral infections, and genetic disorders. Due to the rise in pediatric respiratory diseases worldwide, it became a burden for the governments and many children is missing school. According to CDC statistics, the prevalence of childhood asthma increased from 8.7% (2001) to 9.5% (2011). Approximately, 629,000 hospital visits are taken for pediatric asthma, and it cost about US$ 272 Mn for Medicaid/CHIP enrollees in 2010. Government bodies such as National Heart, Lung and Blood Institute conducting workshops with leading experts to understand the effect of epigenetic and environmental factors influence on lung development, pulmonary vascular disease, and personalized medicine development, among others. Furthermore, WHO added asthmatic drugs to its essential medicine list to make accessible to the patients. Companies are collaborating to develop novel drugs that can act on various pediatric respiratory diseases. For instance, in July 2016, Genetech, Inc., a member of the F. Hoffmann-La Roche Ltd, and Novartis AG, developed omalizumab to treat pediatric asthma conditions and it was approved by the U.S. FDA. In June 2016, the U.S. FDA approved Allergan’s drug Teflaro (ceftaroline fosamil) that can treat infections caused by methicillin-resistant Staphylococcus aureus (MRSA) and Streptococcus pneumonia conditions

Pediatric Respiratory Disease Therapeutics Market is mainly driven by the high prevalence and incidence of respiratory disorders such as asthma, pneumonia, cystic fibrosis, tuberculosis, and among others. According to American Thoracic Society statistics, in 2015, it was estimated that pneumonia accounts for 15% of deaths in children under five years old worldwide. In addition to that, 120 Mn episodes of pneumonia occur every year in children under five years. Active involvement of national and international government bodies to promote the research on drugs that can treat on resistant bacteria is responsible to drive the growth of the market during the forecast period. For instance, in December 2012, TB Alliance received US$ 16.7 Mn from UNITAID to develop formulations for pediatric TB medicine for current and future treatments. However, lack of drugs that can treat cystic fibrosis, viral pneumonia conditions is restraining the growth of the market over the forecast period.

Development of new drugs and increase patient awareness about pediatric respiratory diseases would create an attractive growth opportunities for the pediatric respiratory disease therapeutics market. Companies are adopting novel formulation strategies to treat pediatric respiratory diseases. For instance, in January 2017, AstraZeneca’s drug SYMBICORT was formulated in pressurized metered-dose inhaler and it was approved by the U.S. FDA to treat asthma in pediatric patients. Hospital pharmacies is expected to hold the highest market share in the pediatric respiratory disease therapeutics market.

Region wise, the global Pediatric Respiratory Disease Therapeutics Market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Middle East and Africa. North America dominated the global market for pediatric respiratory disease therapeutics market due to availability of various products and favorable reimbursement policies. Increasing prevalence of pediatric respiratory diseases such as asthma, and pneumonia conditions are expected to drive the growth of the market over the forecast period. Asia-Pacific excluding Japan is expected to have higher CAGR during the forecast period owing to the large pool of population in the region.

Some of the players in global pediatric respiratory disease therapeutics market include Teijin Pharma Limited, Teva Pharmaceutical Industries Ltd., Novartis AG, Genetech Inc., (F. Hoffmann-La Roche Ltd), AstraZeneca, GlaxoSmithKline plc, and Pfizer Inc.,

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About Ankush Nikam 53513 Articles
Ankush Nikam is a seasoned digital marketing professional, having worked for numerous online firms in his distinguished career. He believes in continuous learning, considering that the digital marketing sector’s rapidly evolving nature. Ankush is an avid music listener and loves to travel.