Market Trends of Global Pediatric Clinical Trials Industry
This section covers the major market trends shaping the Pediatric Clinical Trials Market according to our research experts:
Oncology Segment is Expected to Witness Growth Over the Forecast Period
The oncology segment of the market studied is expected to have exponential growth in the forecast period, owing to the increasing prevalence of cancer in the pediatric age group. The most common cancers in children younger than 15 years are leukemia and brain and central nervous system tumors.
According to the American Cancer Society, Cancer Facts and Figures 2022 report, an estimated 10,470 children (aged 0 to 14 years) is likely to be diagnosed with cancer and 1,050 children is predicted to die from the disease in 2022 in America. It also states that pediatric cancer rates have increased over the past few decades. Furthermore, As per clinicaltrials.gov, in September 2022, there were approximately 3,368 ongoing pediatric clinical trials, for cancer. The surge in the number of these trials is expected to boost the segment's growth.
With the increasing number of pediatric cancer cases worldwide, many hospitals and institutes are focusing on developing therapeutic drugs for the same, thereby leading to an increased number of pediatric clinical trials worldwide. For instance, in November 2020, a first-in-human clinical trial for children with relapsed or refractory neuroblastoma started at the American Family Children's Hospital (AFCH) and was being conducted by researchers at University of Wisconsin School of Medicine and Public Health.
Moreover, in June 2020, the Leukemia and Lymphoma Society (LLS) collaborated with the National Cancer Institute (NCI) and the Children's Oncology Group (COG) to launch precision medicine clinical trials for children with acute leukemia. These collaborations are projected to boost the segment growth.
North America is Expected to Dominate the Pediatric Clinical Trials Market Over The Forecast Period
North America is found to hold a significant share of the pediatric clinical trial market and is expected to show a similar trend over the forecast period.
According to clinicaltrials.gov, as of September 2022, there were more than 1,644 ongoing pediatric clinical trials in the United States, which represent a large proportion of the global number of pediatric research procedures. The high number of trials and high cost per procedure and patient have primarily impacted the market in the United States.
The increasing prevalence of diseases in the pediatric population of the country is boosting the research programs to develop specific drugs. For instance, According to the International Diabetes Federation Diabetes Atlas Tenth edition, December 2021 update, more than 1.2 million children and adolescents (0-19 years) were living with type 1 diabetes in 2021.
Many clinical trials were commenced in the United States in the field of COVID-19 vaccines for children. For instance, in April 2021, Yale University of Medicine started the clinical trial of the COVID-19 vaccine developed by Pfizer and BioNTech in young children and adolescents. Developments like these are expected to boost market growth.
Additionally, the key players have been involved in various startegic alliances such as acquisitions, collaborations along with launch of advanced products to secure the position in the global market. For instance, in April 2021, Novartis initiated SMART, a Phase 3b clinical study to evaluate the safety and efficacy of Zolgensma (onasemnogene abeparvovec) in young children with spinal muscular atrophy. These developments are projected to augment the market growth in the region
Therefore, owing to the above-mentioned factors, the growth of the studied market is anticipated in the North America Region.
