Clinical Trials Market (Phase: Phase I, Phase II, Phase III, and Phase IV; Study Design: Interventional Trials, Observational Trials, and Expanded Access Trials; and Indication: Autoimmune/Inflammation, Pain Management, Cardiovascular, CNS Condition, Oncology, Diabetes, Obesity, and Others)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027
The global Clinical Trials market gathered revenue around USD 42.9 Billion in 2020 and market is set to grow USD 82.4 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 4.7% during the prediction period 2021 to 2027.
Clinical trials market now witnesses a paradigm shift. Naïve heterogeneous patient populations in the developing nations are opening up new avenues for the clinical trials market. Developing countries also offer faster means; which is triggering major pharmaceutical companies to direct their investment in these regions. Apart from this, stringent regulations and tight R&D budgets in the pharma-biotech industry are also forcing companies to move to east. This scenario has further boosted the alliances between the pharma-biotech companies and the clinical research organizations, with the latter accounting for major chunk of the trials conducted.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Clinical Trials market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Clinical Trials market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Clinical Trials market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Rise in R&D Activities in Biotechnology and Pharmaceuticals Industries Boosts Market Growth
Clinical research organizations, diagnostic laboratories, and biotechnology players are engaged in the development of newer diagnostic tests to address the unmet needs in the healthcare industry. The life science industry’s R&D spending is driven primarily by the mass and research intensity of the biopharmaceutical sector, which accounts for nearly 85% of all expenditure.
Additionally, laboratories strive to improve equipment cost and performance. UHPLC and ultra-fast mass spectrometers are more reliable, faster, and more sensitive as a result of research initiatives by major players.
Acceleration in biopharmaceutical R&D innovation, buoyed by several contributing factors such as precision medicine getting into gear in rare diseases, cancer, and autoimmune diseases; immunotherapy, expansion of therapeutic modalities exploiting natural and synthetic biology innovation, and expedited regulatory pathways boost the growth of the clinical trials market
|Market Size||US$ 82.4 Billion by 2027|
|Growth Rate||CAGR of 4.7% From 2021 to 2027|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2027|
|Segments Covered||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Regional Scope||phases,study design,indications,Regional|
|Companies Mentioned||Laboratory Corporation of America Holdings,IQVIA, Inc.,Syneos Health,Parexel International Corporation,PRA Health Sciences, Inc.,PPD, Inc.,Icon plc,Charles River Laboratories, Inc.WuXi AppTec,Medpace Holdings, Inc.|
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the Clinical Trials Market include:
Laboratory Corporation of America Holdings,IQVIA, Inc.,Syneos Health,Parexel International Corporation,PRA Health Sciences, Inc.,PPD, Inc.,Icon plc,Charles River Laboratories, Inc.WuXi AppTec,Medpace Holdings, Inc.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Clinical trials market by phases:
- Phase I
- Phase II
- Phase III
Clinical trials market by study design
- Interventional trials
- Observational trials
- Expanded Access trials
Clinical trials market by indications
- Blood disorders
- Mental disorders
- United Kingdom
- Rest of Europe
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Clinical Trials market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Clinical Trials market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Clinical Trials markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
- Growth of Clinical Trials in 2021
- Market Estimates and Forecasts (2017-2027)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Clinical Trials and How to Navigate
- Key Product Innovations and Regulatory Climate
- Clinical Trials Consumption Analysis
- Clinical Trials Production Analysis
- Clinical Trials and Management