Pediatric Clinical Trials Market is Estimated to Witness High Growth Owing to Rising Pharmaceutical Research & Development Expenses for New Therapies and Government Support for Pediatric Drug Development
The pediatric clinical trials market is estimated to be valued at USD 17.54 Bn in 2024 and exhibit a CAGR of 9.6% over the forecast period (2024-2031). The market is witnessing growth owing to increasing research & development expenditures for pediatric medicine development. Furthermore, the rising prevalence of pediatric diseases coupled with the availability of targeted drugs for children is driving the market growth.
Market Dynamics:
Government Support for Pediatric Drug Development: Regulatory bodies like the U.S. Food and Drug Administration provide incentives like pediatric exclusivity for developing drugs for pediatric use. Also, there is an increase in government funding for pediatric clinical research through organizations like National Institutes of Health (NIH). This policy support encourages more drug developers to conduct pediatric clinical trials.
Market Drivers
Increasing prevalence of chronic diseases in pediatric population
One of the major drivers for the pediatric clinical trials market is the rising prevalence of chronic diseases among children globally. Diseases such as cancer, diabetes, asthma, and others are becoming more common in pediatric age groups. This has increased the need for more research and development of new treatments and drugs specifically for children. Pharmaceutical companies are investing heavily in pediatric clinical research to develop safer and more effective medication for this vulnerable patient segment.
Stringent regulations for drug development and testing in children
Regulatory bodies worldwide have introduced stringent guidelines and laws to ensure drug safety for pediatric use. For example, the U.S. Food and Drug Administration requires sponsors to submit pediatric study plans and conduct clinical trials in children for new drug applications. The European Union Paediatric Regulation also mandates pediatric investigation plans. Compliance with such regulatory standards has boosted clinical trial activities in children. Pharmaceutical sponsors are left with no choice but to abide by these norms and allocate larger research budgets for pediatric drug development.
Market Restraints
Clinical trial design challenges in pediatric patients
Conducting clinical research in children poses unique practical and ethical challenges compared to adult trials. Factors like obtaining informed consent from parents or guardians, age-appropriate drug dosing and formulations, and frequent clinical evaluations can complicate pediatric study design. Recruiting a sufficient pediatric patient pool within set timelines is also challenging. Addressing such obstacles increases trial costs and timelines for drug developers.
Scarcity of skilled pediatric clinical research workforce
There is a widespread shortage of pediatric clinicians, nurses, and study coordinators trained for clinical research. Professionals experienced in the nuances of pediatric drug development and well-versed with regulatory guidelines are limited. Insufficient training programs further aggravate this talent crunch. The specialized skills and expertise required makes it difficult for sponsors to assemble capable clinical trial teams for pediatric projects. This acts as a constraint for expanding such research activities.
Market Opportunities
Increasing R&D investments of large pharmaceutical companies
Major pharma players such as KalVista Pharmaceuticals are proactively investing in pediatric drug research and development in response to regulatory changes. They view the pediatric population as an untapped market with enormous growth potential. Increased collaborations between drug makers, advocacy groups and contract research organizations can help pool resources for large multicenter pediatric trials. This opens up lucrative opportunities for startups developing specialized solutions for pediatric clinical research.
Growth of pediatric-focused CROs and technology providers
The pediatric clinical trials industry has witnessed a rise in dedicated CROs with relevant domain expertise. They provide end-to-end services customized to the unique needs of pediatric research. Technology companies are also introducing novel digital solutions like eConsent, eDiaries, telehealth, and decentralized methods to simplify and accelerate pediatric trials. This has stimulated the demand for their innovative offerings and platforms.
Link - https://www.coherentmarketinsights.com/market-insight/pediatric-clinical-trials-market-397
Key Developments
- On August 5, 2024, University of California announced the launch of clinical trials to evaluate the safety and effectiveness of a cancer vaccine targeting H3 G34-mutant diffuse hemispheric glioma, a highly aggressive brain tumor that is typically found in pediatric patients
- On August 1, 2024, CMR Surgical (CMR), a medical device company, announced that it had commenced the first multicentre prospective clinical trial to assess the safety and efficacy of Versius for use in pediatric surgery. The trial is focusing on children and infants under the age of 18, undergoing a range of urological procedures with Versius including but not limited to robotic assisted pyeloplasty, ureteroureterostomy, nephrectomy and Mitrofanoff formation.
- On May 29, 2024, Cincinnati Children's Hospital, Children's hospital in Ohio, U.S., expanded clinical trials with the launch of Applied Gene and Cell Therapy Center, which will enable the health system to increase clinical trials of innovative drugs and biological therapeutics for patients with cancer, blood diseases, or genetic disorders
- In October 2023, Neurocrine Biosciences, Inc., a pharmaceutical company, announced the positive top-line data from the Phase 3 CAHtalyst Pediatric Study evaluating the efficacy, safety, and tolerability of crinecerfont in children and adolescents with classic congenital adrenal hyperplasia (CAH) due to 21-hydroxylase deficiency. Crinecerfont is an oral, selective corticotropin-releasing factor type 1 receptor antagonist being investigated to help reduce and control excess adrenal androgens through a steroid-independent mechanism.
Key Players
CSL Behring, Sanofi, Takeda Pharmaceutical Company Limited, Orchard Therapeutics plc., Pharming Group N.V., BioCryst Pharmaceuticals, Inc., Ionis Pharmaceuticals, Inc., Attune Pharmaceuticals, Arrowhead Pharmaceuticals, Inc., Adverum Biotechnologies, Inc., KalVista Pharmaceuticals, and CENTOGENE N.V.
