Pediatrics Market By Period of Disease (Long-term Disease and Short-term Disease), Therapeutics (Asthma & Allergies, Cardiology, Gastroenterology, Diabetes, Obesity, Cerebral palsy, Chronic illness, and Others), Treatment (Medication, Immunotherapy, Dietary restrictions, Surgery, and Others), and Geography  

Pediatrics Market Size was valued at USD 162.4 billion in 2022 and is poised to grow at a CAGR of 4.5% from 2023-29. Pediatrics is a branch of medicine related to the medical treatment and care of infants and children. According to the Federal Food, Drug, and Cosmetic Act (FD&C Act), Pediatrics patients aged should be 21 or younger at the time of their diagnosis or treatment. Pediatric patients can be categorized as neonates (from birth through the first 28 days of life), infants (29 days to less than 2 years), children (2 years to less than 12 years), adolescents (12 years to less than 22). Some medicines and treatments are specially designed for children others are borrowed from adult applications with the significant change in dosage and other factors. The increasing number of deaths due to various diseases, infections, and malnutrition is driving the growth of the global Pediatrics market. According to UNICEF data, 5 million children under 5 years of age died in 2020 which means 13,800 children under the age of 5 died every day in 2020 due to infectious diseases, including pneumonia, diarrhoea, and malaria along with premature birth and birth-related complications. Moreover, the rise in research and development for new Pediatrics medicines & therapies, and the rise in government support and initiatives will further drive the market. The Pediatrics market is expected to grow significantly due to the prevalence of chronic illness, lower immunity, and a rise in injury-related cases that are more common in children and teenagers. North America is dominating the market based on the region due to rising concerns about child care. Asia Specific regions are likely to register the highest CAGR due to rising premature birth & related complications, malnutrition, rising awareness, and the increasing number of companies investing in Pediatrics medications.

Pediatrics Market Key Developments:

• In July 2022, The American Academy of Pediatrics and AT&T launched free tools to help families determine their child's cell phone readiness and create healthy media use habits.
• In Aug 2022, Children's Hospital of Philadelphia (CHOP) announced a new computational platform that will harmonize Pediatrics cancer data to accelerate the pace of drug development for Pediatrics cancer. In May 2022, Summus Global announced a collaboration with Boston children's hospital for virtual care.
• In Aug 2022, The Leukaemia & Lymphoma Society (LLS) announced that they will work to change the Pediatrics clinical trial model.