Visiongain Publishes Paediatric Clinical Trials Market Report 2023-2033
26 April 2023
Visiongain has published a new report entitled Paediatric Clinical Trials Market Report 2023-2033: Forecasts by Indication (Infectious Disease, Oncology, Autoimmune/Inflammatory Diseases, Respiratory Disorders, Mental Health Disorders, Other), by Phase (Phase 1, Phase 2, Phase 3, Phase 4), by Study Design (Interventional Studies, Observational Studies) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The paediatric clinical trials market was valued at US$20,189.9 million in 2022 and is projected to grow at a CAGR of 6.3% during the forecast period 2023-2033.
Lack of awareness and knowledge gap with respect to efficacy and safety of drugs in paediatrics have led to increased use of off-label medications for treatment. The treatment flow is majorly based on the patient journey of adults that risk the well-being and health of children. Furthermore, paediatric clinical trials are required across ages from new-borns to 18 years and focused in therapy areas specific for this age group. Also, challenges in these trials persist such as heterogeneity, the informed consent, and age-specific studies. Owing to these factors, there is need to enhance paediatric clinical research.
How has COVID-19 had a Significant Negative Impact on the Paediatric clinical trials Market?
COVID-19 presents an opportunity for the Paediatric Clinical Trials Market players to play an expanded role in care. Due to the pandemic, many clinical trials were halted that resulted in delaying the clinical trial study process and further added cost burden to the companies. However, the pandemic has opened further avenues for decentralized clinical trials and virtual trials. This presents an opportunity for wider pool of patients affected by the disease and more validation of clinical endpoints. Due to the pandemic, access to patients for recruitment and enrolment have been hampered hence identifying patients has been a major challenge. Furthermore, due to uncertainty over the effects of COVID-19 on children has limited the participation and interest of parents/guardians in enrolling children for trials.
How will this Report Benefit you?
Visiongain’s 230-page report provides 118 tables, 165 charts, and graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the paediatric clinical trials market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Paediatric clinical trials. Get financial analysis of the overall market and different segments including indication, phase, study design, and capture higher market share. We believe that there are strong opportunities in this fast-growing paediatric clinical trials market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
High Prevalence of Diseases Among Children
Most common preventable and treatable infectious diseases in children include malaria, pneumonia, diarrhoea, HIV and tuberculosis. High mortality and prevalence of such diseases is expected to drive market growth as there is increasing need for novel therapies. Pneumonia, diarrhoea and malaria accounted for 30% deaths among children below 5 years in 2019. Pneumonia is responsible for around 700,000 children annually across the globe. Diarrhoea accounted for 480,000 deaths among young children while malaria caused deaths of 274,000 children globally. Owing to such high prevalence, number of companies are focusing of developing new products and thus conducting clinical trial studies to enhance treatment options among children.
Usage of Decentralized Clinical Trials (DCTs)
Majority of paediatric clinical trials are adopting decentralization due to patient participation challenges. According to Clinical Trial Arena, 11.6% paediatric clinical studies have decentralization compared to 8% non-paediatric studies. Furthermore, based on therapy area, metabolic diseases have 14.4% decentralization vs 7.5% in non-paediatric studies in high income countries. Major reasons for high decentralization in metabolic diseases such as diabetes is that patients can self-monitor that requires less assistance. Such advantages can be further expanded to several therapy areas and help drive market growth.
Where are the Market Opportunities?
Increase in investments for paediatric research showcases a significant opportunity for various national and international organizations. In 2020, global investments in Paediatric TB were US$ 91 million (10% of overall spending) which was 56% rise compared to 2019. However, the R&D expense on Paediatric research in TB is low which presents a broad opportunity for companies. Furthermore, according to an analysis, of the 20 pharmaceutical companies considered with total R&D projects of 1,073 only 69 or 6% were focused on children aged below 12 years. This showcases ample space for development and investments in paediatric clinical trials market.
With the advent of digitization, number of support services and technologies have been developed and introduced for paediatric clinical trials. Digital communication is widely been adopted in clinical trials for ease of asking questions by participants, discussions with the investigators, remote submission of informed consent, translation of supportive material in any language, and bond with communities through apps on personal devices. Furthermore, increasing use of cloud-based Software as a Service (SaaS) solution for activities such as capturing of patient reported outcomes data, remote monitoring, and telehealth services for supporting trial participants from the comfort of their homes. Such technologies will help to boost clinical trial process and also streamline complicated tasks.
The major players operating in the paediatric clinical trials market are BMS, Charles River Laboratories, LabCorp Drug Development, GSK, ICON plc, IQVIA Inc., Novartis, Pfizer Inc., PPD Inc., Premier Research, QPS Holdings, Syneos Health, and The Emmes Company, LLC. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
• In May 2022, BMS received FDA approval for azacitidine (Vidaza) for paediatric patients with newly diagnosed juvenile myelomonocytic leukemia (JMML).
• In March 2022, ViiV Healthcare received FDA approval for fixed dose combination of abacavir, dolutegravir and lamivudine for the treatment of paediatric patients weighing 10kgs to 25 kgs with HIV-1.
Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to firstname.lastname@example.org or call +44 (0) 207 336 6100.
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.
Visiongain Publishes Vaccine Contract Manufacturing Market Report 2023-2033
The global Vaccine Contract Manufacturing Market is projected to grow at a CAGR of 13.2% by 2033
24 May 2023
Visiongain Publishes Cell & Gene Therapy Cold Chain Logistics Market Report 2023-2033
The global Cell & Gene Therapy Cold Chain Logistics market is projected to grow at a CAGR of 15% by 2033
23 May 2023
Visiongain Publishes Single-use Bioprocessing Probes & Sensors Market Report 2023-2033
The global Single-Use Bioprocessing Probes & Sensors market was valued US$2,493.8 million in 2022 and is projected to grow at a CAGR of 15.2% during the forecast period 2023-2033.
22 May 2023
Visiongain Publishes Dental Consumables Market Report 2023-2033
The global Dental Consumables market is valued at US$21,759.4 million in 2023 and is expected to register a CAGR of 8% from 2023 to 2033.