Pediatric Palliative Care Drugs Market to Score Past US$ 101.8 Billion Valuation by 2027, Finds Coherent Market Insights

SEATTLE, April 14, 2021, (PHARMIWEB) — Overview:

Pediatric palliative care is a form of specialized medical care for infants and children who are suffering from severe illnesses such as cancer, genetic disorders, prematurity, heart and lung conditions, neurologic disorders, and others. Palliative care seeks to improve the quality of life for both the child and the family by alleviating the symptoms and burden of illness.

Analgesics, antiemetics, laxatives, adjuvant medications, steroids, sedatives, neuroleptic medication, and other drugs are used in palliative care.

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Covid-19 Impact:

The coronavirus disease (COVID-19) pandemic, which began on December 31, 2019, in Wuhan, China is the most recent outbreak. On March 11, 2020, The World Health Organization declared coronavirus disease (COVID-19) as a pandemic.

According to the World Health Organizations Covid-19 Weekly Epidemiological update, over 34.8 million cases and more than 1 million deaths due to coronavirus disease (COVID-19) were registered on October 04, 2020, globally.

COVID-19 has had a three-fold effect on the economy; directly impacting supply and demand, triggering distribution chain disturbances, and financial impact on businesses and financial markets. Several countries including China, India, Saudi Arabia, UAE, Egypt, and others are experiencing difficulties in transporting goods and raw materials due to nationwide lockdown.

Drivers:

Market players focusing on obtaining product approvals from regulatory authorities in order to expand their product portfolio in the pediatric palliative care drugs market is expected to fuel the growth of the Pediatric palliative care drugs market. For instance, in August 2018, Eisai Inc., a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) expanded the indication of its antiepileptic drug, FYCOMPA, indicated for monotherapy and adjunctive use in patients of age 4 years and older for treating partial-onset seizures (POS). Eisai Inc. received approval from the U.S. FDA for both tablet and oral suspension formulations of FYCOMPA.

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An increasing number of rare genetic diseases in the new born is also expected to boost the growth of the pediatric palliative care drugs market over the forecast period.  According to an article published in the European Journal of Human Genetics in September 2019, out of 6,172 clinically unique rare diseases described in Orphanet, an international reference knowledge base for rare diseases and orphan drugs, around 3,510 (69.9%) diseases are exclusively pediatric-onset and around 908 (18.2%) diseases have onset spanning both adults and pediatric groups.

Restraints:

Lack of awareness about palliative care drugs is expected to hamper growth of the global pediatric palliative care drugs market during the forecast period.  For instance, palliative care is relatively unknown among the general public but with proper education about palliative care, understanding and favourability might increase among consumers and physicians, as indicated to the New Public Opinion Research from the Centre to Advance Palliative Care (CAPC), August 2019.

Key Players

Key players involved in the global pediatric palliative care drugs market are Farmson Pharmaceutical Gujarat Pvt. Ltd., Atabay Pharmaceutical Factory, Anhui Fubore Pharmaceutical & Chemical Co., Ltd, Huzhou Konch Pharmaceutical Co., Ltd., Alnylam Pharmaceuticals Inc., 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., Eton Pharmaceuticals, Inc, and Eisai Inc.

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

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