The global pediatric clinical trial market is set to experience significant growth, with market valuations projected to rise from USD 17,918.1 million in 2024 to USD 31,661.0 million by 2034. This expansion is driven by a compound annual growth rate (CAGR) of 5.9% during the forecast period. The market, valued at USD 16,831.0 million in 2023, grew at a CAGR of 6.5% from 2019 to 2023.
The rising demand for pediatric clinical trials can be attributed to increasing awareness about the unique medical needs of children and the critical importance of developing safe and effective pediatric medications. Enhanced regulatory support and technological advancements in clinical research methodologies are further propelling market growth.
The burgeoning demand for pediatric clinical trials underscores the importance of advancing medical research and drug development tailored specifically for pediatric populations. As healthcare continues to evolve, the emphasis on pediatric-centric solutions becomes increasingly imperative.
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In 2021, the therapeutic field category in oncology held the second-largest global revenue share. Cancer is the greatest cause of death worldwide. There will probably be 291,000 cases of cancer among youngsters under the age of 19 by 2040. Due to hospitals and other institutions focusing on the development of therapeutic drugs in response to the growing number of children cancer cases worldwide, the number of pediatric clinical trials is increasing globally.
Despite all of these expanding factors, the global market for pediatric clinical trials may be hindered for a number of reasons. Given the high rate of study terminations for a variety of reasons, it is projected that the market for pediatric clinical trials will develop slowly. Research on children often falls short because
Pivotal Pediatric Clinical Trial Providers:
- Synteract
- ICON Plc.
- Syneos Health
- Medpace, Inc
- PPD Inc.
- Premier Research
- LabCorp Drug Development
- QPS Holding
- Pfizer Inc.
- The Emmes Company, LLC
- IQVIA Inc.
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Key Market Segmentation:
By Area:
- Oncology
- Infectious Diseases
- Cardiovascular Diseases
- Metabolic Diseases
- Respiratory Diseases
- Diabetes
- HIV
- Others
By Sponsor:
- Industry
- Government Organizations
- Non-Government Organizations
- Associations
- Others
By Phases:
- Phase 1
- Phase 2
- Phase 3
- Phase 4
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- MEA
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