According to Future Market Insights, the global pediatric clinical trials market demand is projected to grow at a rate of 5.3% between 2022 and 2032, with the market’s value increasing from approximately US$ 15.8 billion in 2022 to US$ 26.47 billion in 2032. The surge in demand is attributed to the rising prevalence of chronic and genetic diseases among children worldwide.
The market’s expansion is also fueled by the need for new vaccines and biopharmaceuticals to combat infectious diseases like polio, tuberculosis, measles, influenza, and malaria, among others. Parental awareness of clinical trials for severe infections and chronic diseases, as well as the participation of numerous CROs in pediatric research, are also contributing to market growth.
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In the global oncology therapeutic field category, cancer is the leading cause of death worldwide, and pediatric cancer cases are expected to increase to 291,000 by 2040. This has resulted in an increased focus on developing therapeutic drugs in hospitals and institutes, driving up the number of pediatric clinical trials worldwide.
Despite these promising trends, the global pediatric clinical trials market may face obstacles. The market’s growth may be hampered by the high rate of discontinuation of clinical trials due to various reasons, including patient enrollment, behavioral disorders, formulation difficulties, informative termination, regulatory challenges, and pharmaceutical toxicity during clinical investigations.
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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