Pediatric Clinical Trails Market report benefits the businesses to well understand market opportunities and clear serious business policies. Global players are growing their existence, native vendors are result it tough to contest with them, particularly concerning features such as quality, technology, and price.
The Global Pediatric Clinical Trails Market was valued at USD xx million in 2017 and is forecasted to reach USD xx million by 2025, with a CAGR of xx% during the forecast period (2018-2025).
According to FDA stats, nearly 60% of drugs used for children were not approved for pediatric use. This situation is increasing the demand for the global pediatric clinical trials.
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Rising chronical pediatric diseases upsurge the demand for pediatric clinical trials:
During recent years, instances of chronical diseases like Asthma, Diabetes, Cerebral palsy, Sickle cell anaemia, Cystic fibrosis, Cancer, AIDS, Epilepsy, Congenital heart problems etc., has become common in the children. According to the National Institutes of Health, 70% of the medicines given to children for these diseases have only been tested in adults.
However, new regulatory policies of the FDA and EMEA for approved and investigational drugs for children are raising the need for the drugs with customized dosages as per the age groups. As per the stats of U.S. FDA, as of February 2017, a total of 935 pediatric study requests were received. All these scenarios are driving the global market for Pediatric Clinical Trails.
Also, the outburst of infectious diseases like Dengue, Cholera etc., is increasing the demand for the pediatric clinical trials market across the globe.
The report profiles the following companies, which includes Quintiles, Parexel, Pharmaceutical Product Development LLC, Covance Inc., Pfizer Inc, CenterWatch, Paidion Research, Inc., and Duke Clinical Research Institute
Global Pediatric Clinical Trails Market is segmented based on Phases such as Phase I, Phase II, Phase III, Phase IV. In addition, the market is classified based on the design as Treatment Studies (further classified as Randomized Control Trial, Adaptive Clinical Trial, and Non-Randomized Control Trial) and Observational Studies (further classified as Prospective Cohort, Case-Control Study, Cohort Study, Cross-Sectional Study, and Ecological Study).
The report segments the geographies by regions, which include North America, South America, Europe, Asia Pacific and RoW.
North America is taking the major share in the market with a major contribution from the US, followed by Europe and the Asia Pacific. As per the studies from The Office of Pediatric Therapeutics (OPT), around 86% of pediatric clinical trials out of 346 clinical trials is done by US companies alone.
Increasing Diabetic cases in children, mainly in US, tremendous growth in pediatric clinical research in the region, various transformative initiatives by The Pediatric Research Equity Act (PREA) and the Best Pharmaceuticals for Children Act (BPCA) like encouraging the research and development of drugs by offering both incentives and obligations to the companies are mainly driving the growth in these region.
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