Pediatric Palliative Care Drugs Market to Surpass US$ 101.8 Billion by 2027 - Coherent Market Insights

Global Pediatric Palliative Care Drugs Market, By Drug Class (Analgesics, Anti‐emetics, Laxatives, Adjuvant Medications, Steroids, Sedatives, Neuroleptic Medications, and Others), By Route of Administration (Oral, Topical, and Parenteral), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 71.8 billion in 2020 and is expected to exhibit a CAGR of 5.1% over the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.

The companies are focusing on obtaining approvals for pediatric drugs from the regulatory authorities, in order to expand their product portfolio and strengthen their presence in the market, which is expected to drive growth of the pediatric palliative care drugs market over the forecast period. For instance, in October 2019, Novartis International AG received approval from the U.S. Food and Drug Administration (FDA) for Entresto, indicated for the treatment of symptomatic heart failure (HF) with systemic left ventricular systolic dysfunction in pediatric patients aged 1 year and older.  

Global Pediatric Palliative Care Drugs Market – Impact of Coronavirus (Covid-19) Pandemic

The accessibility of palliative care inpatient and outpatient services as well as home visits have been seriously impacted by the COVID-19 pandemic. During the pandemic, the palliative care wards have set strict admission standards, which include:

• Children and their family members have to undergo strict screening procedures for COVID-19 infection, which includes COVID-19 contact history assessments, chest computed tomographic scans, and nucleic acid tests
• Children with qualified screening results after 2 weeks of isolation could be admitted to the ward
• The admission standards for nonlocal children were stricter than for those from local areas. Infection prevention and control (IPC) measures during the COVID-19 pandemic resulted in delayed transfer to the palliative care ward and some children could not even be admitted to the ward
• Moreover, to prevent the spread of COVID-19, the pediatric palliative care team altered their work patterns like only few core members such as nurses and physicians were allowed in the palliative care wards

Browse 35 Market Data Tables and 34 Figures spread through 198 Pages and in-depth TOC on “Pediatric Palliative Care Drugs Market”- Global Forecast to 2027, By Drug Class (Analgesics, Anti‐emetics, Laxatives, Adjuvant Medications, Steroids, Sedatives, Neuroleptic Medications, and Others), By Route of Administration (Oral, Topical, and Parenteral), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).

To know the latest trends and insights prevalent in the global pediatric palliative care drugs market, click the link below:

https://www.coherentmarketinsights.com/market-insight/pediatric-palliative-care-drugs-market-4251

The rising incidence of congenital heart disease is also expected to propel growth of the pediatric palliative care drugs market. According to the Australian Institute of Health and Welfare (AIHW), around 5,000 hospitalizations with 1 among 3 infants of age under 1 year, suffering with congenital heart disease were recorded in Australia during 2016-2017.

Key Takeaways of the Global Pediatric Palliative Care Drugs Market:

• The global pediatric palliative care drugs market is expected to exhibit a CAGR of 5.1% over the forecast period, owing to increasing prevalence of congenital heart disease. According to the Australian Institute of Health and Welfare (AIHW), around 9 in every 1,000 babies born are affected with congenital heart disease.
• Among drug class, the analgesics segment held a dominant position in the pediatric palliative care drugs market in 2019, owing to high prevalence of heart conditions in pediatric patients. According to the 2016 National Survey of Children’s Health (NSCH), the prevalence of heart conditions among children in the U.S. aged 0–17 years was estimated to be approximately 1.3%.
• Key players operating in the global pediatric palliative care drugs market include Novartis International AG, Mylan NV, Teva Pharmaceutical Industries Ltd., Amneal Pharmaceuticals, Inc., Mallinckrodt Pharmaceuticals, Anqiu Lu'an Pharmaceutical Co., Ltd., Granules India Limited, Zhejiang Kangle Pharmaceutical Co., Ltd., Farmson Pharmaceutical Gujarat Pvt. Ltd., Atabay Pharmaceutical Factory, Anhui Fubore Pharmaceutical & Chemical Co.,Ltd, Huzhou Konch Pharmaceutical Co., Ltd., Alnylam Pharmaceuticals Inc., Eton Pharmaceuticals, Inc, and Eisai Inc.