Global pediatric clinical trials market is estimated to be valued at US$ 14,869.5 million in 2023 and is expected to exhibit a CAGR of 9.3% during the forecast period (2023-2030).
Children stand in their own category, distinct from adults in both physical and mental ways. Clinical studies in children are essential for developing age-appropriate, verified by scientific research treatments and for identifying and improving the best medical care currently available. Clinical trials in children are essential because they help uncover the best pediatric preventatives. Children are not simply smaller versions of adults; rather, they undergo a number of distinct physiological changes as they grow up. Because children’s bodies operate differently from adults, it is essential that new medications and preventative measures be developed that are tailored to the needs of children.
Pediatric clinical trials play a major role in modern healthcare, as pediatric clinical trials are the only criteria to launch new drugs in market for various indications that affect pediatric population. Clinical trials in children are essential to develop age-specific, empirically-verified therapies and interventions to determine and improve the best medical treatment available.
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🠺 Brief Introduction to the research report.
🠺 Table of Contents (Scope covered as a part of the study)
🠺 Top players in the market
🠺 Research framework (structure of the report)
🠺 Research methodology adopted by Coherent Market Insights
Novel vaccines and other biologic products to prevent infectious diseases like measles, polio, mumps, tuberculosis, influenza, rubella, whooping cough, malaria, chicken pox and streptococcal pharyngitis are anticipated to boost the growth of the market. For example, in 2018, the CDC estimated 0.6% of children (0-17) had active epilepsy in the United States, which amounted to roughly 470,000 children.
Market expansion in the predicted period is pinned on an increase in the youth population. Humanium, a global NGO for child sponsorship and the prevention of abuse and neglect, estimates that there will be 2.2 Bn children in the world by 2021.
Key Players
The chief companies functioning in the market of pediatric clinical trials worldwide are Syneos Health Inc., IQVIA Holdings, Inc., Charles River Laboratories International Inc., Covance Inc., ICON plc, Pharmaceutical Product Development, LLC, Genentech (F. Hoffmann-La Roche AG), Pfizer, Inc., Bristol – Myers Squibb, GlaxoSmithKline plc., Sanofi S.A., Novartis AG, Johnson & Johnson, Merck & Co., Inc., Takeda Pharmaceutical Company Limited, and Vertex Pharmaceuticals Inc.
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Pediatric Clinical Trials Market Report Coverage
Market for Pediatric Clinical Trials Worldwide– Effect of Coronavirus (COVID-19) Pandemic
The WHO (World Health Organization) has declared a public health emergency due to the rapid spread of COVID-19 from its initial outbreak in December 2019 to over one hundred countries around the world. Additionally, as of April 2, 2020, the CDC reported that 1,762 (1.7%) COVID-19 cases in patients under the age of 18 were registered in the United States. As a result, industry leaders and academic institutions are investing heavily in R&D by beginning drug clinical trials aimed at preventing childhood COVID-19. Similarly, on March 18, 2020, an observational study was launched at the University of Calgary, a public research university in Alberta, Canada, to investigate the clinical nature and results of children suspected of being infected with COVID-19. In addition, academic institutions are monitoring the effects of COVID-19 in different areas of hospitals through observational studies. To assess the effect of the COVID-19 pandemic on children receiving cancer treatment in Egypt and the United Arab Emirates, one institution, the South Egypt Cancer Institute, which provides medical education, training of researchers and physicians in the field, launched an observational study on May 15, 2020.
Global Pediatric Clinical Trials Market: Key Developments
Phase 2/3 clinical trials of the antiviral drug Remdesivir in children with coronavirus disease 2019 were initiated by Gilead Sciences in June 2020 to assess its safety, tolerability, efficacy and pharmacokinetics (COVID-19).
KinderPharm is a clinical stage, specialized pharmaceutical company with expert resources devoted specifically to pediatric drug development; Synteract, clinical research organization (CRO) specializing in services on the evolving biopharma segment, acquired them in November 2018. By making this purchase, Synteract will be able to better serve as a research and development hub for the pediatric market.
Global Pediatric Clinical Trials Market: Restraint
An increasing number of paediatric clinical trials are being abandoned for a variety of reasons, and this is one of the main factors holding back expansion of the global paediatric clinical trials market. Trials in children often fail due to logistical difficulties, such as a lack of participants. Incorrect dosing, complexity in formulation and instructive termination are examples of behavioural problems and trial conduct issues that can arise alongside regulatory concerns and drug toxicity during drug testing.
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Table of Content (TOC):
Chapter 1 Introduction and Overview
Chapter 2 Industry Cost Structure and Economic Impact
Chapter 3 Rising Trends and New Technologies with Major Key players
Chapter 4 Pediatric Clinical Trials Market Analysis, Trends, Growth Factor
Chapter 5 Pediatric Clinical Trials Market Application and Business with Potential Analysis
Chapter 6 Market Segment, Type, Application
Chapter 7 Pediatric Clinical Trials Market Analysis (by Application, Type, End User)
Chapter 8 Major Key Vendors Analysis of Pediatric Clinical Trials Market
Chapter 9 Development Trend of Analysis
Chapter 10 Conclusion
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