Global Pediatric Clinical Trials Market to Surpass US$

Seattle, Oct. 17, 2022 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the global pediatric clinical trials market is estimated to be valued at US$ 14,869.5 million in 2022 and is expected to exhibit a CAGR of 9.3% during the forecast period (2022-2030).

Key Trends and Analysis of the Global Pediatric Clinical Trials Market:

Major players operating in market are focusing on adopting strategies such as partnerships and acquisitions, which is expected to drive the market growth over the forecast period. For instance, in September 2018, Amicus Therapeutics, which is a global biotechnology company acquired Gene Therapy Portfolio of Ten Clinical and Pre-Clinical Stage Adeno-associated viruses (AAV) Programs in Neurologic Lysosomal Storage Disorders. This acquisition of gene therapy programmes offered a chance to improve the lives of thousands of kids suffering from some of the most severe lysosomal storage disorders, for which there are now hardly any effective treatments.

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Key Market Takeaways:

Global pediatric clinical trials market is expected to exhibit a CAGR of 9.3% during the forecast period due to significant product pipeline under clinical stage of development due to unmet medical needs for pediatric patient population. For instance, according to data published in February 2020, on Russell Publishing Limited, stated that there are almost 600 pediatric medicines in development in over 2,000 clinical trials.

Among medical condition, cancer segment is expected to hold a dominant position over the forecast period, owing to increasing cancer prevalence in pediatric population. For instance, according to data published in November 2021, on National Cancer Institute, stated that in 2021, 15,590 children and adolescents aged 0 to 19 were diagnosed with cancer in the U.S.

On the basis of clinical trial phase, phase 2 segment is expected to hold…