The pediatric clinical trials market is driven by the increasing prevalence of pediatric diseases, rising investments by government and private organizations, and the growing demand for personalized medicine. The regulatory authorities are also encouraging pediatric clinical trials by providing incentives and initiatives. However, the market faces challenges such as the limited number of pediatric patients available for clinical trials, ethical concerns, and the high cost of conducting clinical trials. The COVID-19 pandemic has also impacted the market, leading to delays and disruptions in ongoing trials. The market is expected to grow in the coming years due to the increasing focus on pediatric research and the development of novel therapies for pediatric diseases.
Global Pediatric Clinical Trials Market
is estimated to be valued at US$ 14,869.5 million in 2022 and is expected to exhibit a CAGR of 9.3% during the forecast period (2022-2030).
Market Leaders in the Pediatric Clinical Trials Industry:
Syneos Health Inc.
Syneos Health Inc. is a multinational contract research organization (CRO) founded in 1998 with its headquarters in Morrisville, North Carolina, USA. The company provides services in clinical development, commercialization, and consulting for biopharmaceutical and medical device industries. Syneos Health Inc. announced in March 2023 that it has entered into a definitive agreement to acquire Kinapse, a global provider of regulatory, safety, and pharmacovigilance services to the life sciences industry.
IQVIA Holdings, Inc.
IQVIA Holdings, Inc. is a leading provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry. The company was founded in 2016 and is headquartered in Durham, North Carolina, USA. IQVIA Holdings Inc. announced in March 2023 the launch of a new service that aims to streamline clinical trial payments and reduce financial risk for clinical research sites.
Charles River Laboratories International Inc.
Charles River Laboratories International Inc. is a contract research organization that provides preclinical and clinical research services to the pharmaceutical, biotechnology, and medical device industries. The company was founded in 1947 and has its headquarters in Wilmington, Massachusetts, USA. Charles River Laboratories International Inc. announced in January 2023 that it has completed the acquisition of Vigene Biosciences, a gene therapy contract development and manufacturing organization.
Covance Inc.
Covance Inc. is a CRO that provides drug development and clinical trial services to the pharmaceutical and biotechnology industries. The company was founded in 1968 and is headquartered in Princeton, New Jersey, USA. Covance Inc., a subsidiary of Laboratory Corporation of America Holdings, announced in February 2023 that it has expanded its clinical research services in Asia by opening a new clinical development services office in Beijing, China.
ICON plc
ICON plc is a global provider of drug development solutions and services to the pharmaceutical, biotechnology, and medical device industries. The company was founded in 1990 and is headquartered in Dublin, Ireland. ICON plc announced in January 2023 that it has acquired the remaining 50% of the shares of Firecrest Clinical, a provider of clinical training and technology solutions.
Pharmaceutical Product Development, LLC
Pharmaceutical Product Development, LLC (PPD) is a global CRO that provides drug discovery, development, and lifecycle management services to the biopharmaceutical industry. The company was founded in 1985 and is headquartered in Wilmington, North Carolina, USA.