Pediatric Clinical Trials Market is expected to exhibit a CAGR of 9.0% by 2028

Pediatric Clinical Trials Market:

Clinical studies in children are important in current health care

SEATTLE, WASHINGTON, UNITED STATES, Dec. 9, 2021 /EINPresswire.com/ — Another factual information about the “pediatric clinical trials market” was recently added to its warehouse by CMI. This research report provides an internal and external investigation from different perspectives, for example, market patterns, overall industry components, drivers, restraints, opportunities. It provides an investigative look at further choices in organizations. It contains extensive educational information about several key players working around the world.

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Overview:

Clinical trials in children are important in today’s health care system as they are the means of introducing new drugs for various indications affecting children. Therefore, the biotech and pharmaceutical industries are slowly shifting towards the contract research organization (CRO) of internal clinical research. A substantial pipeline of products is in clinical development due to unmet medical requirements for pediatric patients. According to Pharmaceutical Research and Manufacturers Association (PHRMA) data released in 2018, a strong pipeline of drug development over the forecast period is expected to create an environment of growth opportunities for the market. In addition, there are more than 1,300 industry-sponsored clinical trials in children in numerous therapeutic areas, including diseases that have significant unmet needs for genetic disorders, neurological disorders, infectious diseases and various types of cancer treatments.

The global pediatric clinical trials market is estimated to be worth $12,571,7 million in 2020 and is expected to grow at a CAGR of 9.0% over the forecast period (2020-2027).

Impact of Covid-19:

The outbreak of COVID-19 in December 2019 affected approximately 100 countries worldwide. According to the Centers for Disease Control and Prevention (CDC) in April 2020, COVID-19 affected approximately 2,572 people, which is 1.7% of the population under the age of 18. Therefore, research institute and market players focus on R&D activities by starting clinical trials for COVID-19 treatment in children. For example, in June 2020, Gilead Sciences initiated 2/3 clinical trials evaluating the efficacy, safety, pharmacokinetics and tolerability of Remdesivir, an antiviral drug, in children with COVID-29 infection.

On March 18, 2020, the University of Calgary began a study to determine clinical features and outcomes of children infected with COVID-19. The investigation is expected to be completed on March 17, 2022.

In addition, research institutes are starting observational studies to understand the impact of COVID-19 on different hospital departments. For example, on May 15, 2020, the South Egypt Cancer Institute began an observational study to verify the COVID-19 effect on patients in pediatric cancer wards in the UAE and Egypt.

drivers:

The growing demand for biological products and new vaccines to treat numerous infectious diseases such as mumps, measles, tuberculosis, influenza, polio, whooping cough, malaria, streptococcal pharyngitis and chickenpox is expected to drive the growth of the global pediatric clinical trial market. For example, in 2018, the World Health Organization (WHO) estimated that about 86% of children are vaccinated against 26 diseases. Yet the number of unvaccinated children is 19.5, which kills 2-3 million children every year. In addition, in 2018, the CDC released a fact sheet reporting that approximately 470,000 children in the US experienced active epilepsy, representing about 0.6% of children in the age group 0-17.

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The increasing pediatric population is expected to increase the demand for pediatric drugs, which is expected to fuel the growth of the global pediatric clinical trial market. In 2017, for example, according to the UN Population Prospect, 40% of the world’s population comprised pediatric populations. The US had 74 million children under the age of 18, which was 23% of the total population in 2016.

limits:

Factors such as higher rate of pediatric clinical trial termination caused by many reasons are expected to limit the growth of the global pediatric clinical trial market market. Pediatric studies can be hampered by issues such as patient accretion, behavioral problems, difficulty conducting studies such as incorrect dosing, informational termination with regulatory issues, and drug toxicity in clinical trials. For example, according to the US Food and Drug Administration (FDA), 25-40% of pediatric studies lead to termination because they do not create efficacy and safety and result in a labeled indication.

Regional analysis:

North America is expected to witness strong growth in the pediatric clinical trial market due to the increasing adoption of strategies such as mergers and acquisitions by CROs to increase the number of pediatric trials. For example, in November 2018, Syneteract, a contract research organization, completed the acquisition of a niche CRO KinderPharm focused on pediatric studies of rare diseases.

In April 2018, KinderPharm LLC formed an alliance with Worldwide Clinical Trials to develop the first single center of excellence for clinical research and development of pediatric drugs.

In addition, Europe is expected to see robust growth in the pediatric clinical trials market over the forecast time as the number of organizations focused on facilitating the process of prediatric drug development increases. In May 2018, Collaborative Network for European Clinical Trials for Children/conect4children initiated initiative members including experts from Alder Hey Children’s NHS Foundation Trust (AHCNFT), Liverpool Women’s NHS Foundation (LWNFT) and University of Liverpool in partnership with a pediatric network to support the development of to facilitate new medicines and treatments for the pediatric population in Europe.

Major players:

Key players operating in the global pediatric clinical trials market are IQVIA Holdings, Inc., Covance Inc., Pharmaceutical Product Development, LLC, Pfizer, Inc., GlaxoSmithKline plc., Sanofi SA, Johnson & Johnson, Takeda Pharmaceutical Company Limited , Syneos Health Inc., Charles River Laboratories International Inc., ICON plc, Genentech (F. Hoffmann-La Roche AG), Bristol – Myers Squibb, Novartis AG, Vertex Pharmaceuticals Inc. and Merck & Co., Inc.

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09 December 2021, 13:26 GMT


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