Pediatric Respiratory Disease Therapeutics Market Size

Pediatric Respiratory Disease Therapeutics Market Analysis

The pediatric respiratory disease therapeutics market is expected to register a CAGR of 5.6% over the forecast period.

The pandemic significantly impacted the pediatric respiratory disease therapeutics market as the demand for pediatric respiratory disease therapeutics products increased owing to the increased risk of respiratory illness. For instance, as per a study published by the NCBI in September 2022, low-field magnetic MRI showed persistent pulmonary dysfunction in both children and adolescents who recovered from COVID-19 and with long COVID. Similarly, per the study published by the IJP in November 2021, the pandemic has brought significant challenges to childcare worldwide. Respiratory disease therapeutics such as anti-inflammatory drugs, bronchodilators, and combination drugs are generally used for the treatment of various respiratory diseases. Thus, the increasing incidence of respiratory diseases among pediatrics and continuous treatment during the pandemic helped the market to maintain considerable growth. With the emergence of the new strain, the market is expected to move upward over the forecast period.

The increasing prevalence of chronic respiratory diseases and increasing research and development in drug discovery for respiratory diseases are the major drivers for the market. For instance, as per the report published by the WHO in October 2022, an estimated 10.6 million people suffered from tuberculosis (TB) in 2021 globally of which 1.2 million were children. The report also stated that TB is prevalent in all countries and age groups. In addition, the burden of asthma and allergic diseases continues to increase among pediatrics. Moreover, every year pediatric respiratory infections impose a significant burden on the global healthcare system in terms of manpower and resource utilization.

Furthermore, as per the October 2021 CDC report, there were more than 317 cases of tuberculosis disease among children aged 14 years or younger in the United States, accounting for 4.0% of all people reported with tuberculosis nationally in 2021. According to UNICEF data published in August 2022, there were more than 1,400 cases of pneumonia per 100,000 children, or 1 case in 71 children each year, globally, with the highest incidence occurring in South Asia (2,500 cases per 100,000 children) and West and Central Africa (1,620 cases per 100,000 children).

The increasing research and development in drug discovery is also another driving factor for the market. For instance, as per the journal published by the Frontiers Organization in October 2021, research is being conducted to identify prognostic respiratory disorder/disease progression-specific biomarkers that can predict disease course in children and to develop scoring and risk stratification systems. Similarly, in September 2021, Children's National Hospital received USD 2.13 million in awards from the National Institutes of Health's (NIH) National Heart, Lung and Blood Institute to accelerate research work and develop new diagnostic tools and innovative precision medicine related to treatments for kids with down syndrome experiencing respiratory viruses. It is expected that such advancements may create new opportunities for the market and may encourage new players to enter the market.