Seattle, Oct. 17, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global pediatric clinical trials market is estimated to be valued at US$ 14,869.5 million in 2022 and is expected to exhibit a CAGR of 9.3% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Pediatric Clinical Trials Market:
Major players operating in market are focusing on adopting strategies such as partnerships and acquisitions, which is expected to drive the market growth over the forecast period. For instance, in September 2018, Amicus Therapeutics, which is a global biotechnology company acquired Gene Therapy Portfolio of Ten Clinical and Pre-Clinical Stage Adeno-associated viruses (AAV) Programs in Neurologic Lysosomal Storage Disorders. This acquisition of gene therapy programmes offered a chance to improve the lives of thousands of kids suffering from some of the most severe lysosomal storage disorders, for which there are now hardly any effective treatments.
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Key Market Takeaways:
Global pediatric clinical trials market is expected to exhibit a CAGR of 9.3% during the forecast period due to significant product pipeline under clinical stage of development due to unmet medical needs for pediatric patient population. For instance, according to data published in February 2020, on Russell Publishing Limited, stated that there are almost 600 pediatric medicines in development in over 2,000 clinical trials.
Among medical condition, cancer segment is expected to hold a dominant position over the forecast period, owing to increasing cancer prevalence in pediatric population. For instance, according to data published in November 2021, on National Cancer Institute, stated that in 2021, 15,590 children and adolescents aged 0 to 19 were diagnosed with cancer in the U.S.
On the basis of clinical trial phase, phase 2 segment is expected to hold a dominant position over the forecast period. Phase II trials involve children to examine the intervention's efficiency and safety. Pediatric subjects make up a large portion of phase II trials, which are also more difficult than phase I studies. Children are usually not tested for medicinal products until phase III of the trials, which looks at the efficacy, acceptability, and side effects of the products. For instance, according to data published in November 2021, on Massachusetts Medical Society, stated that during a dose-finding study conducted to investigate the safety, immunogenicity, and efficacy of BNT162b2 vaccine, in phase 2 trial, a total of 2268 children were randomly assigned to receive the BNT162b2 vaccine.
Competitive Landscape:
Key players operating in the global pediatric clinical trials market include 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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Market Segmentation:
- Global Pediatric Clinical Trials Market, By Clinical Trial Phase :
- Pre-clinical
- Phase I
- Phase II
- Phase III
- Global Pediatric Clinical Trials Market, By Study Design:
- Treatment Studies
- Observational Studies
- Global Pediatric Clinical Trials Market, By Medical Condition:
- Neuropsychiatric Conditions
- Infectious Diseases,
- Maternal and Perinatal Conditions,
- Respiratory Diseases,
- Cardiovascular Diseases
- Cancer
- Digestive
- Others
- Global Pediatric Clinical Trials Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
