According to Future Market Insights, the global Pediatric Clinical Trials Market Share is projected to grow steadily at a 5.3% value CAGR, during the forecast period 2022-2032. Earlier in 2021, this market was projected to have a global market valuation worth US$ 15 Billion and is expected to reach a sum of US$ 26.47 Billion by 2032.
There is a sizable product pipeline in the clinical stage of development due to unmet healthcare needs in the juvenile patient population. A strong pipeline for the development of new medications will be advantageous to the market in the near future.
Additionally, about 1,300 industry-sponsored paediatric clinical studies were in progress in 2021, covering a wide range of treatment areas, such as infectious diseases, genetic problems, neurological conditions, and various cancer kinds.
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Global market expansion is anticipated to be fueled by rising paediatric medicine awareness, outsourcing internal clinical trials to CROs, and the rising prevalence of paediatric diseases like diabetes. The paediatric clinical trial market is seen to be dominated by North America regionally, and this trend is anticipated to continue during the projection period.
The most prosperous market in the area is in the United States. The incidence of paediatric diseases in the nation is increasing, which is bolstering research efforts to develop specific drugs and raising the number of clinical trials. This is boosting demand for the global paediatric clinical trials market, along with other factors.
Prominent Growth Drivers Influencing Pediatric Clinical Trials Industry
Increased Incidence of Chronic Diseases to accelerate Market Growth
Market expansion is projected to be fueled by the rising demand for novel vaccines and biological products to treat infectious diseases like measles, polio, mumps, TB, rubella, influenza, whooping cough, chickenpox, malaria, and staphylococcus pharyngitis. Over 85% of infants globally are immunised against 27 diseases, according to the World Health Organization (WHO) 2021; yet, 19.4 million children are not, which results in 2-3 million child deaths annually.
According to the Centers for Disease Control and Prevention (CDC) fact page, in 2021, over 471,000 children in the United States had active epilepsy, accounting for approximately 0.6 percent of children aged 0-17 years.
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At the same time, diabetes is a major concern among children nowadays. According to the International Diabetes Federation’s (IDF) Diabetes Atlas 2021, around 464 million children globally had diabetes in 2021. One million of these people (children and adolescents under the age of 20) have type 1 diabetes.
The market is being driven by an increase in the number of CROs conducting paediatric studies, as well as rising parental awareness of paediatric clinical trials for risky infections and chronic illnesses. One of the most prevalent disorders among children is autism. By 2021, there will be one autistic child for every 44 in the United States, predicts the CDC. The market for paediatric clinical trials is anticipated to rise internationally as a result of the rising prevalence of autism among children.
Competitive Landscape
Due to the sheer presence of a few important players in the market with very few additional participants, the industry studied is consolidated. Market participants’ primary strategies included trial initialization, acquisitions, and collaborations, among others.
- Pfizer began a Phase 2/3 research for PAXLOVID tablets, which are especially intended to treat COVID-19 in young patients, in March 2022. PAXLOVID reduced the risk of hospitalization or death from any cause by 89 percent (within three days of symptom start) and 88 percent (within five days of appearance of symptoms).
- Novartis announced intentions to begin SMART, a Phase 3b clinical research to assess the safety and efficacy of Zolgensma (onasemnogene abeparvovec) in young children with spinal muscular atrophy, in April 2021. SMART is a multicenter, Phase 3b, single-arm, open-label study designed to assess the safety, tolerability, and efficacy of a one-time IV infusion of Zolgensma in pediatric patients with symptomatic SMA who have bi-allelic genetic changes in the SMN1 gene and any copy number of the SMN2 gene and weigh between 8.5 kg and 21 kg. The study will enroll 24 patients and will monitor them for a 12-month period.
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Key Segments Covered in the Pediatric Clinical Trials Market Report
Pediatric Clinical Trials Market by Phase Type:
- Phase I Pediatric Clinical Trials
- Phase II Pediatric Clinical Trials
- Phase III Pediatric Clinical Trials
- Phase IV Pediatric Clinical Trials
Pediatric Clinical Trials Market by Study Design:
- Treatment Studies of Pediatric Clinical Trials
- Observational Studies of Pediatric Clinical Trials
Pediatric Clinical Trials Market by Therapeutic Areas:
- Pediatric Clinical Trials for Infectious Diseases
- Pediatric Clinical Trials for Oncology
- Pediatric Clinical Trials for Autoimmune/Inflammatory Diseases
- Pediatric Clinical Trials for Respiratory Disorders
- Pediatric Clinical Trials for Mental Health Disorders
- Pediatric Clinical Trials for Other Therapeutic Areas
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