Pediatric Healthcare Market Size, Growth,
Opportunity and Forecast Till 2023-2033
The Pediatric healthcare market studied was anticipated to grow with a CAGR of nearly 4.6%
during the forecast period. The major factors attributing to the growth of the pediatric healthcare
market are a rise in the number of deaths due to various diseases, viral infections, and
malnutrition every year. For instance, according to estimates published by The United Nations
Children's Fund (UNICEF) in November 2018, every year about 3 million deaths occur due to
pediatric pneumonia worldwide which demands the earlier diagnosis and efficient treatment
fueling the global market. Furthermore, the rise in government support, combined with
increased research activities in technological advancements, fuel the pediatric healthcare
market.
Key Market Trends
Chronic Illness Segment is Expected to Hold the Major Market Share in the
Pediatric Healthcare Market
- The chronic illness segment is expected to account for the largest held the largest share of the
pediatric healthcare market owing to their lower immunity leading to an increased demand for
chronic disease treatment, Diarrhea and rise in injury-related cases are more common in
children.
- Based on the indication, asthma and allergies held the largest revenue due to various changes
witnessed in childcare trends, increased pollution and decreased immunity, rise in the number of
hospitals and clinics specific for childcare along with the rise in demand for the segment. On the
other hand, metabolic disorders such as obesity, diabetes owing to the sedentary lifestyle due to
lack of proper food and physical activity, rise in starvation among the pediatric population are
fueling the growth of the segment.
North America Dominates the Market and Expected to do Same in the
Forecast Period.
North America is expected to dominate the pediatric healthcare market owing to the rise in the
volume of pediatric patient cases with kids suffering from autism, respiratory disorders, cerebral
palsy, and muscular atrophy along with a steep rise in the adoption of advanced technologies in
the U.S. which holds the major revenue share of market in North America. For instance,
according to the American Academy of Allergy, Asthma & Immunology statistics - 2018, more
than 40% of children have allergies in the U.S. resulting in high demand for pediatric healthcare
fueling the market in the region. Furthermore, the launch of new products by key players for
pediatric patients, rise in government initiatives to create awareness in people for pediatric
treatments and disorders, improvements in healthcare infrastructure are likely to create a new
opportunity for the global pediatric healthcare market over the forecast period.
Competitive Landscape
The Pediatric Healthcare Market is moderately competitive and consists of several major
players. In terms of market share, few of the major players are currently dominating the market.
Some prominent players are launching new products, while others are distributing the products.
For instance, In April 2019, GSK today received approval from the U.S. Food and Drug
Administration (FDA) for its intravenous (IV) Benlysta (belimumab), the first medicine in the US
approved for children with systemic lupus erythematosus (SLE) from as young as five years of
age cranial defects and consolidate their market positions across the globe. Some of the
companies which are currently dominating the market are GlaxoSmithKline plc, Johnson &
Johnson, Pfizer Inc, The Procter & Gamble Company, and C. H. Boehringer Sohn AG & Co KG.
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