Pediatric Clinical Trials Market – Play a major role in modern healthcare With Key Players Syneos Health Inc., IQVIA Holdings, Inc., Charles River Laboratories International Inc.
Coherent Market Insights released a new market study on 2021-2027 Pediatric Clinical Trials Market with 100+ market data Tables, Pie Chat, Graphs & Figures spread through Pages and easy to understand detailed analysis. At present, the market is developing its presence. The Research report presents a complete assessment of the Market and contains a future trend, current growth factors, attentive opinions, facts, and industry validated market data. Report offering you more creative solutions that combine our deep geographic experience, intimate sector knowledge and clear insights into how to create value in your business. The research study provides estimates for 2021-2027 Pediatric Clinical Trials Market Forecast till 2027*.
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Pediatric clinical trials are focused on evaluating the efficacy of drugs that are used in for the treatment of various diseases in pediatric patients.
The global pediatric clinical trials market size was valued at US$ 12,571.7 million in 2020, and is expected to exhibit a CAGR of 9.0% over the forecast period (2020 – 2027).
Global Pediatric Clinical Trials Market: Drivers
Increasing number of drugs under clinical trial is expected to propel growth of the global pediatric clinical trials market. For instance, according to Pharmaceutical Research and Manufacturers’ Association (PHRMA)’s data in 2018, over 1,300 industry-sponsored pediatric clinical trials are underway across a variety of therapeutic areas, including diseases where there is significant unmet need such infectious diseases, neurologic conditions, genetic disorders, and several forms of cancer.
Moreover, increasing approval and launch of novel pediatric drugs is expected to propel growth of the market. For instance, in August 2018, Biocodex received the U.S. FDA approval for Diacomit (stiripentol) for the treatment of seizures associated with Dravet syndrome. Similarly, in October 2018, Regeneron Pharmaceuticals received U.S. FDA approval for Dupixent (dupilumab) for the treatment of moderate-to-severe asthma. Moreover, in December 2018, Stemline Therapeutics, received U.S. FDA approval for Elzonris (tagraxofusp-erzs) for the treatment of blastic plasmacytoid dendritic cell neoplasm in adults and pediatrics. In June 2018, GW Pharmaceuticals received the U.S. FDA approval for Epidiolex (cannabidiol) for the treatment of seizures associated with Lennox-Gastaut syndrome or Dravet syndrome.
Increasing demand for new vaccines and other biologic products is also expected to boost growth of the market. For instance, according to the World Health Organization (WHO) 2018, around 86% of infants are vaccinated against 26 diseases worldwide. However, around 19.5 million children are unvaccinated leading to death of 2-3 million children, annually.
Global Pediatric Clinical Trials Market: Restraints
However, several pediatric clinical trials are terminated due to several reasons such as patient accrual, behavioral problem, and trial conduct issues such as inaccurate dosing, difficulty in formulation, informative termination, drug toxicity during trials, and regulatory issues. According to the U.S. FDA, around 25 – 40% of pediatric trials fail to establish safety, efficacy, and result in a labeled indication for pediatric use, which results in their termination. Such scenario is expected to hinder growth of the global pediatric clinical trials market.
Global Pediatric Clinical Trials Market: Regional Analysis
North America is expected to account for the largest market share in the global pediatric clinical trials market over the forecast period. This is attributed to increasing incidence of chronic diseases in pediatric population and increasing number of clinical trials conducted in the U.S. Infants, children, and adolescents are at high risk of various diseases such as cancer, diabetes, diarrhea, encephalitis, polio, epilepsy, chronic obstructive pulmonary disease, (COPD), and asthma. For instance, according to the Centers for Disease Control and Prevention (CDC) factsheet in 2018, around 470,000 children had active epilepsy in the U.S., accounting for around 0.6% of children aged 0-17 years.
Pediatric Clinical Trials Market – Competitive Landscape
Key players functioning in the global prosthetic liners market consists of 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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Reasons to Purchase this Report
• Current and future of global Pediatric Clinical Trials Market outlook in the developed and emerging markets • The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period. • Regions/countries that are expected to witness the fastest growth rates during the forecast period • The latest developments, market shares, and strategies that are employed by the major market players
Major Point Answered in Pediatric Clinical Trials Market Research Study are:
- What will be the progress rate of the Pediatric Clinical Trials Market for the conjecture period, 2021-2027?
- What are the prominent factors driving the Pediatric Clinical Trials Market across different regions?
- Who are the major vendors dominating the Pediatric Clinical Trials industry and what are their winning strategies?
- What will be the market scope for the estimated period?
- What are the major trends shaping the expansion of the industry in the coming years?
- What are the challenges faced by the Pediatric Clinical Trials Market?
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