Global Pediatric Clinical Trials Market Overview:
Clinical trials typically test a specific involvement which may be a drug, medical device, or procedure-- following a research protocol developed by an investigator. Children and adolescents upto 18 years as their bodies’ physiology and chemistry react very differently to illness and disease. Thus, pediatric clinical trials are critical to developing treatments and medications for childhood disease and illnesses. The number of paediatric clinical trials in EU has remarkably increased in the last decade in response to the execution of the new Paediatric Regulation and enticements aiming to define the need of child-specific drug development. Some of the players profiled in the study are Bristol-Myers Squibb Company (United States), Charles River Laboratories International Inc. (United States), Covance Inc. (United States), GlaxoSmithKline plc (United Kingdom), ICON plc (Ireland), IQVIA (United States), Novartis AG (Switzerland), Pfizer, Inc. (United States), Pharmaceutical Product Development, LLC (United States), Syneos Health Inc. (United States), Parexel (United States), Duke Clinical Research Institute (United States), Syneos Health (United States), PRA Health Sciences (United States) and Chiltern (United Kingdom).
On the basis of geography, the market of Pediatric Clinical Trials has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Study Design, the sub-segment i.e. Interventional [Randomized Trial will boost the Pediatric Clinical Trials market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Growing Awareness about Pediatric Medicine
- Rising Burden of Pediatric Diseases, Such as Diabetes
- Implementation of Clinical Trials by Pharmaceutical Companies on Their Own Premises
- Shifting From In-House Clinical Research to Contract Research Organization (CRO)
- Increasing Research Practices in Pharmaceutical Companies
- The Gap between the Number of Paediatric and Adult-Randomised Controlled Trials
The FDA released an update to the nearly two-decades old harmonized guidelines on clinical investigations in pediatric patients (originally adopted by the FDA in December 2000). The updated guidance for industry, E11(R1) Addendum: Clinical Investigation of Medicinal Products in the Pediatric Population, was issued by the FDA on April 11, 2018. Evidence for pediatric efficacy and safety is required by the FDA under the Pediatric Research Equity Act (PREA) in certain drug applications for new active ingredients, new indications, new dosage forms, new dosing regimens, or new routes of administration. and In the European Union, paediatric clinical trials are conducted under the 2007 Paediatric Regulation. This act provides the legal framework for safe research on children, ensuring that studies are high quality, ethically researched, and fully authorised.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Target Audience:Pediatric Clinical Trials Providers, Pharmaceutical Industry, Clinical Research Institutes, Regulatory Bodies and Governmental Bodies
Major Objectives Focused through this Study To define, describe, and forecast the Global Pediatric Clinical Trials market on the basis of product [Phase I, Phase II, Phase III and Phase IV] , application [Respiratory Diseases, Infectious Diseases, Oncology, Diabetes and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Pediatric Clinical Trials market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Pediatric Clinical Trials industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Paidion Research, Inc. (United States) and Medpace (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Pediatric Clinical Trials market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.