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| Pediatric Clinical Trials Market to Hit $23.6 Billion by 2030: Grand View Research, Inc. | ||
| By: PR Newswire Association LLC. - 26 May 2022 | Back to overview list |
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SAN FRANCISCO, May 26, 2022 /PRNewswire/ -- The global pediatric clinical trials market size is expected to reach USD 23.6 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 5.1% over the forecast period. The market is growing on account of the rise in the number of pediatric clinical studies globally. As per the BMC journal, between January 2008 and December 2010, 7,029 pediatric clinical trials were registered. Whereas, between January 2017 and December 2019, the number of registered pediatric clinical trials was 11,738, which certainly reflects a significant surge in the total number of trials across the industry. The treatment options for COVID-19 pediatric patients were limited at the start of the pandemic, owing to which, in May 2020, FDA granted an Emergency Use Authorization (EUA) for Veklury (remdesivir), which could be used for the treatment of COVID-19 in adults and children.  Key Insights & Findings from the report:
Read 275-page market research report, "Pediatric Clinical Trials Market Size, Share & Trends Analysis Report By Phase (Phase II, IV), By Study Design (Treatment, Observational Studies), By Therapeutic Areas (Mental Health Disorders, Oncology), And Segment Forecasts, 2022 - 2030", published by Grand View Research. Pediatric Clinical Trials Market Growth & Trends Similarly, Convalescent plasma was also granted an EUA from the FDA for the treatment of children and adults with COVID-19. Such actions by the regulatory agencies are likely to promote the demand for pediatric clinical trials. Furthermore, increasing efforts by several government bodies to support the clinical research pertaining to pediatric diseases has further supported the market growth. For instance, in March 2022, the National Cancer Institute launched the Molecular Characterization Initiative for pediatric tumors. The Initiative is offered through NCI's Childhood Cancer Data Initiative, which was formed to promote data sharing and collection of new data among researchers who study pediatric oncology. In addition, the increasing prevalence of pediatric cancer is another significant factor supporting the market as well as the oncology segment's growth. For instance, as stated by the American Society of Clinical Oncology (ASCO)in February 2022, in the U.S., an estimated 10,470 children are younger than 15 years of age and about 5,480 teens aged 15 to 19 years will be diagnosed with cancer by the end of 2022. The WHO states that diarrhea, malaria, pneumonia, and sepsis are the leading causes of death among children between the age of 1 month and 9 years The high burden of these diseases is contributing to the demand for new treatment opinions. Thus, is likely to have a positive impact on the market growth. Apart from the high burden of infectious diseases, a significant number of children also suffer from diabetes. For instance, according to the U.S. CDC, over 26.9 million in the U.S. were diagnosed with diabetes in 2018, which included 210,000 children and adolescents younger than age 20—or 25 years. Commercially, COVID19 vaccines were majorly focused on immunizing adults aged 18 years and above, this created a high risk of disease among children below the age of 18 years. The ClinicalTrial.GOV reports that as on 4th May 2022, over 1000 studies were in the active stage for treating and diagnosing COVID-19 for pediatric patients. The burden of COVID-19 among the kids is likely to promote the demand for COVID-19 vaccine trials for pediatrics from 2021. Pediatric Clinical Trials Market Segmentation Grand View Research has segmented the global pediatric clinical trials market on the basis of phase, study design, therapeutic areas, and region: Pediatric Clinical Trials Market - Phase Outlook (Revenue, USD Million, 2018 - 2030)
Pediatric Clinical Trials Market - Study Design Outlook (Revenue, USD Million, 2018 - 2030)
Pediatric Clinical Trials Market - Therapeutic Areas Outlook (Revenue, USD Million, 2018 - 2030)
Pediatric Clinical Trials Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)
List of Key Players of Pediatric Clinical Trials Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research's Medical Devices Industry Research Reports. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James
SOURCE Grand View Research, Inc. 
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