The global pediatric clinical trial market is on a strong growth trajectory, with projections indicating an increase from USD 17,918.1 million in 2024 to USD 31,661.0 million by 2034. This anticipated expansion reflects a compound annual growth rate (CAGR) of 5.9% over the forecast period, following a valuation of USD 16,831.0 million in 2023.
The market has demonstrated robust growth recently, with a CAGR of 6.5% from 2019 to 2023. This growth underscores the increasing focus on developing new and effective treatments for pediatric populations, driven by the rising demand for specialized clinical trials in children and adolescents.
The expansion of the pediatric clinical trial market is attributed to several factors, including advancements in clinical research methodologies, increased investment in pediatric research, and a growing awareness of the unique medical needs of children. These developments are enabling more targeted and effective treatments, leading to significant progress in pediatric healthcare.
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The therapeutic area category in oncology placed second in terms of global sales share in 2021. Globally, cancer is the leading cause of mortality. By 2040, 291,000 more cases of cancer among children under the age of 19 are expected to be reported. The number of pediatric clinical trials is rising globally as a result of hospitals and other institutions concentrating on the development of therapeutic medications in response to the rising number of cases of juvenile cancer worldwide.
The worldwide market for pediatric clinical trials may be hampered for a number of reasons despite all of these growing factors. It is projected that the market for pediatric clinical trials would grow slowly due to the large number of studies that terminate for various reasons.
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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