Global Pediatric Clinical Trial Market Set for Remarkable Growth USD 31,661.0 million by 2034 as Demand for Child Health Solutions Surges | FMI

The global pediatric clinical trial market is poised for significant growth at a CAGR of 5.9% from 2024 to 2034. The global market size is projected to reach USD 17,918.1 million in 2024. By 2034, the demand for pediatric clinical trials is anticipated to reach a valuation of USD 31,661.0 million.

The pediatric clinical trial market is expected to experience rising demand as childhood chronic illnesses and genetic disorders are on the rise. The market is likely to be fueled by the rising demand for biopharmaceuticals and innovative vaccines to treat infectious diseases. Growing parental knowledge of clinical trials for serious infections and chronic disorders in children and the abundance of CROs conducting pediatric research are boosting the pediatric clinical trial industry.

There are certain unique reasons why the global market is inhibited. The high rate of pediatric clinical trial terminations for various causes is anticipated to hinder market expansion. Studies on pediatrics frequently fail for several reasons. Regulatory obstacles and medication toxicity during clinical research are among the other worries, along with behavioral disorders and problems related to trial conduct, such as informative termination.

Regional Outlook:

• North America has a large network of academic institutions and pharmaceutical corporations committed to pediatric drug development, a sophisticated research infrastructure, and a stable regulatory environment, making it the market frontrunner.
• In addition to a strong regulatory environment that promotes innovation and guarantees patient safety, Europe’s pediatric clinical trial market is witnessing increased business, government, and academic collaboration.
• Due to rising healthcare spending and population growth, Asia Pacific is home to a thriving pediatric clinical trial market that offers several chances for research and development.

“The pediatric clinical trial market is expanding as the demand for pediatric clinical trials becomes more widely recognized. Greater research and development spending and regulatory incentives aid market expansion. Collaborations are necessary to improve pediatric healthcare outcomes,” says an FMI analyst.

Key Takeaways:

• The oncology segment in the area category is set to grab a share of 21.8% in 2024.
• In the sponsor type category, the industry segment is expected to acquire a market share of 50.7% in 2024.
• The phase 3 segment is estimated to garner a share of 46.9% in 2024.
• The United States pediatric clinical trial market is anticipated to surge at a CAGR of 3% through 2034.
• Germany’s pediatric clinical trial market is set to develop at a CAGR of 2.5% through 2034.
• The United Kingdom’s pediatric clinical trial sales are anticipated to develop at a CAGR of 3.3% through 2034.
• China’s sales of pediatric clinical trials are expected to surge at a CAGR of 11.7% until 2034.
• India’s pediatric clinical trial industry is anticipated to grow at a CAGR of 14.1% over the forecast period.
• Japan’s pediatric clinical trial market is anticipated to exhibit a CAGR of 5.3% through 2034.

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Competitive Landscape:

The market is consolidated due to the dominance of a small number of major pediatric clinical trial providers. Many pediatric clinical trial vendors plan to acquire any rival or company that brings in less money. Numerous pediatric clinical trial producers engage in proactive collaboration with suppliers who hold a dominant market position and enjoy widespread popularity.

Noteworthy Developments:

• In September 2023, IQVIA, a prominent global provider of advanced analytics and clinical research services, disclosed a partnership with three university medical centers in the Netherlands – University Medical Center Utrecht (UMC Utrecht), Maastricht University Medical Center+ (MUMC+), and Radboud University Medical Center (Radboudumc). The collaboration has led to the establishment of the inaugural Prime Site in the country, aiming to enhance clinical research through the utilization of data and innovation.
• In January 2022, Charles River Laboratories International, Inc. announced the expansion of its strategic partnership with Chicago, Illinois-based SAMDI Tech, Inc. Under the existing collaboration in 2018, SAMDI Tech clients can access Charles River’s collection of lead-like compounds for high-throughput screening (HTS).

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.

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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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