Global Pediatric Clinical Trials Market, by Clinical Trial Phase (Pre-clinical, Phase I, Phase II, and Phase III), by Study Design (Interventional, [Randomized Trial, Non-randomized Trial, Crossover Trial], and Observational), by Medical Condition (Neuropsychiatric Conditions, Infectious Diseases, Maternal and Perinatal Conditions, Respiratory Diseases, Cardiovascular Diseases, Cancer, Digestive Diseases, Diabetes, Nutritional Deficiencies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 9,885.7 million in 2017, and is projected to exhibit a CAGR of 8.8% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
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., Shire plc., and Vertex Pharmaceuticals Inc.
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Increasing approval of new pediatric drugs to augment the market growth
Key players in the market are focused on launching novel pediatric drugs in order to cater to unmet needs of pediatric patients. This in turn is expected to boost the market growth. Moreover, robust product pipeline is also expected to boost the market growth. For instance, in December 2018, Merck and Company received U.S. Food and Drugs Administration (FDA) approval for Vaxelis for indication of diphtheria, tetanus, pertussis, poliomyelitis, hepatitis B, Haemophilus influenzae type B. This is expected to help the company to increase its product portfolio in the pediatric segment.
Similarly, in December 2018, Servier Laboratories received approval for Asparlas (calaspargase pegol-mknl), an asparagine specific enzyme for the treatment of acute lymphoblastic leukemia in pediatrics and young adults. This is expected to help the company to increase its product portfolio in pediatric therapy segment. According to the International Diabetes Federation’s (IDF) Diabetes Atlas 2017, around 425 million patients were suffering from diabetes worldwide in 2017, of which one million people (children and adolescents below 20 years of age) were suffering from type 1 diabetes, with around 150,000 new cases reported, annually.
Browse 38 Market Data Tables and 34 Figures spread through 277 Pages and in-depth TOC on ‘Pediatric Clinical Trials Market’- Global Forecast to 2026, by Clinical Trial Phase (Pre-clinical, Phase I, Phase II, and Phase III), by Study Design (Interventional, [Randomized Trial, Non-randomized Trial, Crossover Trial], and Observational), by Medical Condition (Neuropsychiatric, Conditions, Infectious Diseases, Maternal and Perinatal Conditions, Respiratory Diseases, Cardiovascular Diseases, Cancer, Digestive Diseases, Diabetes, Nutritional Deficiencies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key players in the market are focused on adopting strategies such as mergers and acquisitions to enhance their market share. For instance, in April 2017, Charles River entered into a strategic collaboration with Nimbus Therapeutics that is engaged in advancing new programs in immunology, metabolic disorders, and oncology from the discovery phase to Investigational New Drug (IND) submission.
Key Takeaways of the Pediatric Clinical Trials Market:
The global pediatric clinical trials market is expected to exhibit a CAGR of 8.8% over the forecast period, owing to robust product pipeline and increasing approval of new pediatric drugs
Among clinical trial phase, the pre-clinical segment held a dominant position in the pediatric clinical trials market in 2018, owing to safety and efficacy concerns regarding new molecules or drugs, as every new molecule must go through pre-clinical study
Among study design type, randomized trial segment held a dominant position in the pediatric clinical trials market in 2018, as randomized trial study design eliminates the chance of bias in clinical trials and is considered as the most favorable study design
Among medical condition, neuropsychiatric conditions segment held a dominant position in the pediatric clinical trials market in 2018, owing to increasing number of mental disorders in children and adolescents. Mental disorders mainly affect children before the age of 14 years.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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