Sales of prescription drugs intended for use by children are expected to grow more than 6% a year to more than $46 billion dollars in 2009, according to market research from Kalorama Information.
The driver of growth is expected primarily in the allergy/respiratory and gastrointestinal sectors, according to the report.
“Despite the overall aging of the worldwide population, children remain the bulk of the dependant population worldwide with nine in every ten people falling into a pediatric age range in regions of Africa, Asia, and Latin America,” according to Kalorama.
The report, entitled The Worldwide Market for Prescription Paediatric Drugs, said sales were $34 billion in 2004, with 2005 figures expected to reach $36.4 billion.
“As global concern for children’s rights increases, and the need for access to age-appropriate drug information by healthcare providers intensifies, we’re beginning to see a shift in regulatory and manufacturing attitudes, which is extremely healthy for the paediatric pharmaceutical market,” said Melissa Elder, the report’s author.