Global Pediatric Clinical Trials Market Size 2024, Forecast To 2033
6 Mar, 2024
The pediatric clinical trials market size has grown strongly in recent years. It will grow from $16.31 billion in 2023 to $17.29 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to regulatory incentives, unmet medical needs, advancements in pediatric medicine, global public health initiatives, ethical imperatives, pediatric vaccination programs. 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.
Global Pediatric Clinical Trials Market Key Driver
The pediatric clinical trials market is expected to witness growth driven by the rise in pediatric cancer cases. Pediatric cancer, affecting children and adolescents under 14 years old, is a relatively rare occurrence with distinct growth and dissemination patterns compared to adult tumors. Clinical trials focusing on pediatric patients remain pivotal in advancing prognosis and treatment methodologies. As reported by the American Cancer Society in January 2023, an estimated 9,910 children under the age of 15 in the US are projected to be diagnosed with cancer, with approximately 1,040 fatalities expected in the same year. Thus, the surge in healthcare expenditure underscores the driving force behind the pediatric clinical trials market, reflecting its significance in 2023.
Get A Free Sample Of The Global Pediatric Clinical Trials Market ReportGlobal Pediatric Clinical Trials Market 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
By Geography:The regions covered in the pediatric clinical trials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the pediatric clinical trials market in 2023. The regions covered in the pediatric clinical trials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Pediatric Clinical Trials Industry Players
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
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Pediatric Clinical Trials 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.
Pediatric Clinical Trials Global Market Report 2023 provides data on the global pediatric clinical trials market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The pediatric clinical trials market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.