The Liquid Pediatric market to personify growth in the next decade
Pediatric population is more vulnerable to several seasonal diseases such as respiratory and gastrointestinal conditions. Oral liquid formulations are mostly used dosage forms in pediatric patients to treat several seasonal and non-seasonal diseases. Recent data of Centers for Disease Control and Prevention (CDC) shows that hay fever or respiratory allergy occurs in around 15.2% of U. S. children population in 2017. In age groups especially from 6 months to 12 years there is a certain limitations like swallowing solid dosage forms.
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Fast systemic absorption, ease of administration and acceptability is expected to increase the demand of liquid pediatric formulations in the global market. Solution, suspension, emulsion along with wide range of flavors are the popular liquid pediatric dosage forms used to administered therapeutics in pediatrics. There has been a vast growth in pediatric clinical trials for new drugs enabling better availability of dosage forms for pediatrics especially liquid formulations.
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Liquid pediatric formulations market is expected to grow at a higher rate due to rise in pediatric population in the emerging regions. Also increasing industrial clinical research on pediatrics by leading pharmaceutical companies is expected to increase demand of liquid pediatric formulation in the future. Seasonal respiratory diseases in developing regions is expected to drive the growth of liquid pediatric formulations market. However, alternative novel delivery technologies and poor healthcare systems in developing countries expected to hamper the market growth in the future.
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The global liquid pediatric formulations market is segmented on the basis of age group, dosage form, application, distribution channel and region.
Based on age group, the liquid pediatric formulations market is segmented as:
Based on dosage form, the liquid pediatric formulations market is segmented as:
Based on application, the liquid pediatric formulations market is segmented as:
- Respiratory Diseases
- Gastro-intestinal Diseases
- Dietary Supplements
Based on distribution channels, the liquid pediatric formulations market is segmented as:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Store
- Online Pharmacies
The global liquid pediatric formulations market is estimated to evidence steady growth over forecast years owing to innovative technologies and increasing healthcare spending on pediatric health. In U. S., a national survey indicated that healthcare spending on children increased from $149.6 to $233.5 billion from 1996 to 2013. Patient convenience and high demand of flavors-based liquid pediatric formulations is expected to boost the global liquid pediatric formulations market. Recently in 2018, Johnson and Johnson has acquired Zarbee’s, Inc., specialized in naturally-based healthcare products for children and adults. This company’s portfolio comprises of wide-range of liquid pediatric formulations.
The global liquid pediatric formulations market is expected to be dominated by North America due to higher healthcare spending on pediatric population. Europe is expected to be the second most growing region in the global liquid pediatric formulations market owing to advancements in pediatric research. Latin America is emerging region for liquid pediatric formulations market and is estimated to show exponential growth owing to rising prevalence of respiratory diseases. East Asia and South Asia liquid pediatric formulations markets are expected to show significant growth owing to large pediatric population base in the regions. Middle East and Africa is expected to be the least lucrative region in the liquid pediatric formulations market due to poor healthcare system.
The key players operating in the global liquid pediatric formulations market are: Novartis AG, Merck & Co., Inc, Pfizer Inc., GlaxoSmithKline plc, Sanofi S.A., Astrazeneca plc, Boehringer Ingelheim International GmbH, Piramal Enterprises Ltd, Novo Nordisk A/S, AbbVie Inc and others.
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