Pediatric Clinical Trials Market to Surpass US$ 22,993.0 Million by 2027 - Coherent Market Insights

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, and 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), is estimated to be 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), as highlighted in a new report published by Coherent Market Insights.

Major companies (and more recently medium sized companies) are actively entering into strategic partnerships and collaborations with a limited number of CROs to increase efficiency. The CRO industry and in particular, large CROs with global capabilities, considerable scientific knowledge, and expertise are often able to perform the needed services with greater focus and at a lower cost than the client could perform internally. For instance, in April 2017, Charles River entered into a strategic collaboration with Nimbus Therapeutics aimed at advancing new programs in immunology, metabolic disorders, and oncology from the discovery phase through to Investigational New Drug (IND) submission. In October 2018, the pharmaceuticals division of Roche selected IQVIA’s commercial technology suite for deployment across more than 100 markets.

Moreover, in February 2020, WPD Pharmaceuticals Inc. entered into a collaboration agreement with CNS Pharmaceuticals, Inc., a biotechnology company specializing in the development of novel treatments for primary and metastatic brain and central nervous system tumors, to initiate a Phase I clinical trial for Berubicin in pediatric brain cancer, in Poland. This trend is likely to be followed by mid-size pharma and biotech companies during the forecast period

Global Pediatric Clinical Trials Market – Impact of Coronavirus (Covid-19) Pandemic

• The COVID-19 pandemic has drastically affected clinical trials. Many trials have paused enrollment and researchers are facing multiple challenges associated with setting up remote visits, and performing laboratory and other study assessments.
• According to a survey conducted by Medidata Solutions, Inc. (an American technology company, which develops and markets software as a service for clinical trials), on April 23, 2020, 63% of survey respondents reported that they stopped recruiting new patients for ongoing clinical trials and 43% of the respondents have postponed their studies
• The following factors are considered for pediatric clinical drug trials:
• Enrollment of patients who are more susceptible to severe COVID-19 infections such as pediatric oncology patients, have been restricted
• Patients who are suffering from infections, including those who have COVID-19 symptoms or were exposed to COVID-19 suffering people, are excluded from participation in pediatric studies associated with immunosuppressive therapies
• Due to the lockdown, patients are unable to come to the site for final phases of ongoing pediatric studies, hence, they have to be kept in the study and remain on the study drug for a longer duration than expected. Therefore, safety must be followed and evaluated for patients who are receiving prolonged treatment, as there may be positive or negative effect of the investigational drugs on the patients.

Browse 36 Market Data Tables and 37 Figures spread through 313 sPages and in-depth TOC on “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, and 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).

To know the latest trends and insights prevalent in the Global Pediatric Clinical Trials Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/pediatric-clinical-trials-market-397

The market is expected to gain significant traction during the forecast period, as various contract research organizations offer advanced pharmaco metric modeling and clinical trial simulation technologies, juvenile formulation, and toxicology services across pediatric indications. Players in the clinical research industry are engaged in adoption of inorganic growth strategies to expand their capabilities to conduct pre-clinical studies. For instance, in March 2020, Altasciences, a CRO in the U.S. and Canada engaged in early stage drug development, entered into a partnership agreement with Amador Bioscience, a CRO in China and the U.S., to expand and promote drug development processes such as preclinical studies and to conduct early-stage clinical programs in China and North America.

Key Takeaways of the Global Pediatric Clinical Trials Market:

• The global pediatric clinical trials market is expected to exhibit a CAGR of 9.0% over the forecast period, owing to robust product pipeline and increasing approval of new pediatric drugs
• Among clinical trial phase, the pre-clinical segment is expected to hold a dominant position in the pediatric clinical trials market in 2020, 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 is expected to hold a dominant position in the pediatric clinical trials market in 2020, 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 is expected to hold dominant position in the pediatric clinical trials market in 2020, owing to increasing number of mental disorders in children and adolescents. Mental disorders mainly affect children before the age of 14 years.
• 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.