Global Pediatric Clinical Trials Market Size

Pediatric Clinical Trial Support Market Analysis

The Pediatric Clinical Trials Market was estimated to grow at a CAGR of 14.5% during the forecast period.

The outbreak of COVID-19 impacted the pediatric clinical trials market. The impact of COVID-19 affected the ability to recruit young patients for new trials and keep the registered patients in line with their study schedules. Many clinical trials were being conducted for COVID-19 vaccines for children, which is expected to significantly boost market development. For instance, in September 2021, Pfizer and BioNTech announced positive topline results from pivotal trial of COVID-19 Vaccine in Children 5 to 11 Years and submitted the data to the Food and Drug Administration, European Medicines Agency and other regulatory agencies around the world. The companies introduced positive findings from a Phase 2/3 clinical trial in April 2022 that examined the immunogenicity, safety, and efficacy of a 10-g booster dosage (third dose) of the Pfizer-BioNTech COVID-19 vaccine in healthy children between the ages of 5 and 11. These findings support the idea that a third dosage of the vaccination is likely to help pediatric age group retain high levels of viral protection.

Additionally, in June 2021, Serum Institute of India (SII) authorities applied for the Covovax COVID-19 vaccine from the Drug Controller and General of India (DCGI) to conduct a clinical trial among the pediatric population. These developments by key market players are expected to boost market growth.

In addition, rising awareness about pediatric medicine, shifting in-house clinical trials to CROs, and the increasing burden of pediatric diseases such as diabetes are actively affecting the growth of the studied market.

Over the last decade, the pharmaceutical industry has been gradually shifting from in-house clinical research to contract research organization (CRO). For instance, the article titled 'The Growing Role of CROs in Clinical Trials' published in PPD (Part of Thermo Fisher Scientific) in April 2022, stated that nearly three out of every four clinical trials are conducted by contract research organizations (CROs). It also stated that venture capitalists increased investments into the biotech sector by 60% in January 2021 compared to a year prior. The shifting of in-house clinical trials to CROs is projected to augment the market growth during the forecast period.

Also, according to a report by Tufts University in collaboration with ICON PLC, on CROs' strategic partnerships, it was estimated that in 2020, 70% of all clinical trials had been transferred to CROs across the globe. The role of CROs has become increasingly important as they are more involved in clinical research and are seen more as calculated partners, providing access not only to dedicated expertise but also to patients around the world. The growth of the pediatric trials has also led to the formation of specific pediatric CROs, such as Paidion Research, the first global CRO dedicated exclusively to pediatric health research. Such developments in CROs have driven the trend of shifting in-house clinical trials to the CROs and ultimately boost the studied market growth.

The increasing involvement of companies in clinical trails and funding by the government worldwide to develop noval therapies is expected to boost the market. For instance, in May 2022, the Australian Government's Medical Research Future Fund (MRFF) funded USD 21.6 million to the researchers for developing a treatment for juvenile idiopathic arthritis and other musculoskeletal disorders. Also, in March 2021, the company Moderna Inc. announced the first participants dosed in Phase 2/3 study of the COVID-19 Vaccine candidates in the pediatric population. The surge in trials and funding by the government are anticipated to augment the market growth.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. however, ethical issues in pediatric research and small size of study population are likely to impede market growth.