Future Market Insights forecasts a growth rate of 5.3% for the global pediatric clinical trials market demand during the period from 2022 to 2032. Valued at around US$ 15.8 billion in 2022, the market is expected to reach US$ 26.47 billion by 2032, driven by the increasing incidence of pediatric chronic and genetic diseases worldwide.
The demand for new vaccines and biopharmaceuticals to treat infectious diseases such as measles, polio, tuberculosis, rubella, influenza, mumps, whooping cough, malaria, chickenpox, and staphylococcus pharyngitis is expected to propel market growth. Additionally, rising parental awareness about clinical trials for severe infections and chronic diseases in children, along with the participation of numerous CROs in pediatric research, are contributing to the market’s expansion.
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Oncology therapeutic field category had the second-largest revenue share in 2021 globally, with cancer being the leading cause of death worldwide. By 2040, it is estimated that the number of pediatric cancer cases will reach 291,000. This has led to an increased focus on developing therapeutic drugs in many hospitals and institutes, driving up the number of pediatric clinical trials worldwide.
However, the global market for pediatric clinical trials may face hindrances. The high rate of discontinuation of pediatric clinical trials due to various reasons, including patient enrollment, behavioral disorders, formulation difficulties, informative termination, regulatory challenges, and pharmaceutical toxicity during clinical investigations, may impede the market’s growth.
Key Takeaways from the Market Study
- In 2022, the global pediatric clinical trials market is estimated to have a global market size of US$ 15.8 Billion
- The pediatric clinical trials market in North America to acquire 45% of the global market share
- APAC projected to acquire 25% of the global market share
- By phase, the phase II clinical trials segment took over 33% of the global pediatric clinical trials market share
- By study design, the treatment studies for clinical trials acquired 66% of the global market share
- By therapeutic area, the oncology therapeutic area segment acquired almost 17% of the global market share
“The rising prevalence of chronic and hereditary diseases in children is driving this market to conduct more studies to improve treatment efficiency. Simultaneously, many clinical trials for COVID-19 vaccinations for children are being done, which is predicted to greatly increase market development. ” comments a Future Market Insights analyst.
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Competitive Landscape
Leading Companies Profiled in Pediatric Clinical Trials Market are
- Synteract
- ICON Plc.
- Syneos Health
- Medpace, Inc
- PPD Inc.
- Premier Research
- LabCorp Drug Development
- QPS Holding
- Pfizer Inc.
- The Emmes Company, LLC
- IQVIA Inc.
The industry analyzed is consolidated due to the sheer existence of a few key competitors in the market, with very few extra participants. Market participants’ key strategies included trial initialization, acquisitions, and collaborations.
- In March 2022, Pfizer initiated a Phase 2/3 study for PAXLOVID tablets, which are specifically designed to treat COVID-19 in young patients. PAXLOVID reduced the risk of hospitalization or death from any cause by 89 percent (within three days of symptom onset) and 88 percent (within five days of appearance of symptoms).
- In April 2021, Novartis announced plans to initiate SMART, a Phase 3b clinical trial to examine the safety and efficacy of Zolgensma (onasemnogene abeparvovec) in young children with spinal muscular atrophy.
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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
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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