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(Medical-NewsWire.com, December 24, 2019 ) Market Overview
The Global Pediatric Clinical Trials Market was valued at USD xx million in 2019 and is forecasted to reach USD xx million by 2026, with a CAGR of 15% during the forecast period (2019-2026).
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According to FDA stats, nearly 60% of the drugs used for children were not approved for pediatric use. This situation is increasing the demand for the global pediatric clinical trials.
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 anemia, 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 medications 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 of 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 segments the geographies by regions, which include North America, South America, Europe, Asia Pacific, and RoW.
North America is taking the significant share of the market with a significant 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.
Scope of this report
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
Global Pediatric Clinical Trials Market is segmented based on Phases such as Phase I, Phase II, Phase III, Phase IV. Also, the market is classified based on the design as Treatment Studies (further organized as Randomized Control Trial, Adaptive Clinical Trial, and Non-Randomized Control Trial) and Observational Studies (also classified as Prospective Cohort, Case-Control Study, Cohort Study, Cross-Sectional Study, and Ecological Study).
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
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