Press release
Exploring the Global Pediatric Clinical Trials Market: A Comprehensive Overview
Pediatric Clinical Trials
The pediatric clinical trials market size is expected to see strong growth in the next few years. It will grow to $22.52 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to integration of real-world evidence, pediatric biomarker discovery, expanded access programs, pediatric infectious disease research, pediatric cardiology advancements. Major trends in the forecast period include patient-centric trial design, adoption of adaptive trial designs, digital health technologies, global collaboration and consortia, pediatric oncology advancements.
Market Overview -
Pediatric clinical trials are trials that investigate the effectiveness, safety, and dosage of pharmaceuticals, medical devices, and other therapies in children. It is essential to develop age-specific, scientifically proven treatments and procedures to identify and improve the best medical therapy possible.
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Rising Pediatric Cancer Cases Propel Growth In Pediatric Cancer Trials Market
The rise in pediatric cancer cases is expected to propel the pediatric clinical trials market going forward. Pediatric cancer refers to cancers that develop in children and adolescents under the age of 14. Pediatric cancers are extremely uncommon, and their growth and dissemination patterns may be distinct from those of adult tumors. Pediatric clinical trials continue to play a significant role in the advancement of prognosis and treatment. For instance, in January 2023, according to the American Cancer Society, a US-based voluntary health organization, it is estimated that about 9,910 children in the US under the age of 15 will be diagnosed with cancer and about 1,040 children under the age of 15 are expected to die from cancer in 2023. Therefore, the growing healthcare expenditure is driving the pediatric clinical trials market.
Competitive Landscape -
Major companies operating in the pediatric clinical trials market report are Medpac Inc., Pharmaceutical Product Development Inc., ICON plc, Syneos Health Inc., QPS Holdings LLC, Pfizer Inc., IQVIA Inc., Premier Research, Labcorp - Laboratory Corporation of America Holdings, The Emmes Company LLC, Synteract Inc., Charles River Laboratories International Inc., Covance Inc., Bristol-Myers Squibb Company, GlaxoSmithKline plc, BioNTech SE, Moderna Inc., Parexel International Corporation, PRA Health Sciences, Wuxi AppTec, Merck & Co. Inc., AstraZeneca plc, Sanofi S.A., Johnson & Johnson, Eli Lilly and Company, Takeda Pharmaceutical Company Limited, C.H. Boehringer Sohn AG & Co. KG, AbbVie Inc., Teva Pharmaceutical Industries Ltd., Oracle Health sciences
Pediatric Clinical Trial Market Embraces Product Innovation
Product innovation are a key trend gaining popularity in the pediatric clinical trial market. Companies operating in the pediatric clinical trials market are adopting new innovative products to sustain their position in the market. For instance, in June 2022, The Leukemia & Lymphoma Society, a US-based voluntary health organization, launched Pediatric Acute Leukemia (PedAL) Master Clinical Trial. It is uniquely designed for pediatric acute leukemia where unique tumor biology of each child's cancer is identified to help match them with the most promising treatment.
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Key Segments -
The pediatric clinical trials market covered in this report is segmented -
1) By Phase: Phase I, Phase II, Phase III, Phase IV
2) By Study Design: Treatment Studies, Observational Studies
3) By Therapeutic Areas: Infectious Diseases, Oncology, Autoimmune Or Inflammatory Diseases, Respiratory Disorders, Mental Health Disorders, Other Therapeutic Areas
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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