Pediatric Clinical Trials Market Size Is Estimated To Be Valued At Us$ 12,571.7 Million In 2020 And Is Expected To Exhibit A Cagr Of 9.0% Over The Forecast Period (2020-2027).

Clinical trials generates evidence-based data and knowledge in medicine. Clinical trials conducted on children (between age group of 0 to 18) for research and development of drugs or formation of new drugs are called as pediatric clinical trials. Pharmaceuticals and biotechnological industries and government regulatory bodies are collectively focused on improving research and development for pediatric population. A new law in the U.S. and Europe was passed as pediatric regulation 2007 that required new adult drugs to be tested for use in children. This, in turn, is expected to lead to increasing number of pediatric clinical trials in the U.S. and worldwide.

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Market Dynamics

Robust product pipeline, increasing approval of new pediatric drugs, and high outsourcing for drug development are major factors driving the pediatric clinical trials market growth. 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 the U.S. FDA approval in 2018, and 4 and 7 in 2017 and 2015, respectively.

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.

Increasing investment in the research and development by pharma and biotech companies targeting major chronic diseases such as cancer, cardiovascular disease, neuropsychiatry disease, and respiratory disease is expected to drive the market growth over the forecast period. According to a report published by the International Federation of Pharmaceutical Manufacturer and Association in 2017, pharmaceutical industry invested around US$ 149.8 billion on research and development, annually. The companies are downsizing this cost by outsourcing clinical research activities. There are more than 7,000 compounds in preclinical stage of development, out of which around 56 were launched in 2015 and around 225 new chemical and biological entities were launched between 2011 and 2015.

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Major Key Players Are: 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.

Table of Content

Global Pediatric Clinical Trials Market Research Report

Section 1: Global Pediatric Clinical Trials Industry Overview
Section 2: Global Economic Impact on Pediatric Clinical Trials Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Pediatric Clinical Trials Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Pediatric Clinical Trials Market Forecast

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