Pediatric Clinical Trials Market is Booming 2019 | By Top Players Syneos Health Inc., IQVIA Holdings, Inc., Charles River Laboratories International Inc., Covance Inc., ICON plc., Pharmaceutical Product Development, LLC, Genentech (F. Hoffmann-La Roche AG

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.

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Moreover, introduction of new approaches in clinical research and implementation of advanced technology is expected to boost the market growth. Adoption of data analytics and machine learning platforms is expected to help in better management of the data generated during trials, which can play key role in faster drug development. For instance, in 2015, Quintiles announced the addition of advanced statistical monitoring and predictive analytics capabilities to its risk-based monitoring (RBM) solution.

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.

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.

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Key players operating in the global pediatric clinical trials market include, Syneos Health Inc., IQVIA Holdings, Inc., Charles River Laboratories International Inc., Covance Inc., ICON plc, Pharmaceutical Product Development, LLC, Genentech (F. Hoffmann-La Roche AG), Pfizer, Inc., Bristol - Myers Squibb, GlaxoSmithKline plc., Sanofi S.A., Novartis AG, Johnson & Johnson, Merck & Co., Inc., Shire plc., and Vertex Pharmaceuticals Inc.

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