Seattle, WA -- (SBWIRE) -- 09/25/2019 -- Global Pediatric Clinical Trials Market, by Clinical Trial Phase (Pre-clinical, Phase I, Phase II, and Phase III), by Study Design (Interventional, [Randomized Trial, Non-randomized Trial, Crossover Trial], and Observational), by Medical Condition (Neuropsychiatric Conditions, Infectious Diseases, Maternal and Perinatal Conditions, Respiratory Diseases, Cardiovascular Diseases, Cancer, Digestive Diseases, Diabetes, Nutritional Deficiencies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 9,885.7 million in 2017, and is projected to exhibit a CAGR of 8.8% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Key players in the market are focused on launching novel pediatric drugs in order to cater to unmet needs of pediatric patients. This in turn is expected to boost the market growth. Moreover, robust product pipeline is also expected to boost the market growth. For instance, in December 2018, Merck and Company received U.S. Food and Drugs Administration (FDA) approval for Vaxelis for indication of diphtheria, tetanus, pertussis, poliomyelitis, hepatitis B, Haemophilus influenzae type B. This is expected to help the company to increase its product portfolio in the pediatric segment.
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Similarly, in December 2018, Servier Laboratories received approval for Asparlas (calaspargase pegol-mknl), an asparagine specific enzyme for the treatment of acute lymphoblastic leukemia in pediatrics and young adults. This is expected to help the company to increase its product portfolio in pediatric therapy segment. According to the International Diabetes Federation's (IDF) Diabetes Atlas 2017, around 425 million patients were suffering from diabetes worldwide in 2017, of which one million people (children and adolescents below 20 years of age) were suffering from type 1 diabetes, with around 150,000 new cases reported, annually.
Key players in the market are focused on adopting strategies such as mergers and acquisitions to enhance their market share. For instance, in April 2017, Charles River entered into a strategic collaboration with Nimbus Therapeutics that is engaged in advancing new programs in immunology, metabolic disorders, and oncology from the discovery phase to Investigational New Drug (IND) submission.
According to Pharmaceutical Research and Manufacturers' Association (PHRMA) data in 2018, over 1,300 industry-sponsored pediatric clinical trials are underway across a variety of therapeutic areas, including diseases where there is significant unmet need such as infectious diseases, neurologic conditions, genetic disorders, and several forms of cancer. Similarly, 5 pediatric drugs received U.S. FDA approvals in 2018 and 4 and 7 in 2017 and 2015, respectively. For instance, in 2015, Quintiles announced the addition of advanced statistical monitoring and predictive analytics capabilities to its risk-based monitoring (RBM) solution.
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By Clinical Trial Phase:
By Study Design:
By Medical Condition:
Maternal and Perinatal Conditions
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