Clinical Trials Market: Global Industry Analysis and Forecast (2023 -2029) Trends, Statistics, Dynamics, Segmentation by Type, Phase, Service Type, Therapy Area, Application and Region

Clinical Trials Market size was valued at USD 48.7 Bn in 2022 and the total Clinical Trials revenue is expected to grow by 6.1% from 2023 to 2029, reaching nearly USD 78.3 Bn.
Clinical Trials Market Overview:
The clinical trials market covers all the testing procedures conducted on a product prior to the approval in the market. The clinical trials market report will provide deep insights on the market dynamics for clinical trials & changing dynamics during the forecast period. The clinical trials market analysis by clinical trail phase & region will facilitate the industry

The pharmaceutical industry is emphasizing on research & development for developing innovative products. Companies fail to achieve the compliance for the products multiple times before the product is launched into the clinical trials market. This is resulting in companies requiring more no of clinical trials. Many players in the clinical trials market are outsourcing clinical trials to save their time & cost. The CROs are updating their technology to facilitate all types of clinical trials driving the market growth.

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Clinical Trials Market Dynamics:
Competitive Landscape:

The Clinical trials market is witnessing a stiff competition among the leading players. The adoption of advanced technology is the main area of competition in the clinical trials market. Players having updated technology for conducting specialised clinical trials are having an competitive edge.

Mergers & acquisitions & new product launches by the key players are enabling them to retain their share in the clinical trials market. For Instance, In April 2021, clinical end point data solutions provider ERT announced merger with Bioclinica a leader in clinical imaging. The merger helped the company to expand their business portfolio. In November 2021, the combined company was named Clario.

Clinical Trials Market Drivers

Increasing no of clinical trials

The no of clinical trails conducted are rising exponentially driving the clinical trials market. The focus on patient safety is increasing the requirement for clinical trials. The stringent requirements for approval resulting companies having a requirement of multiple clinical trails to approve the product. As of June 2021, Europe & North America accounted for the highest no of clinical trials. The United States have registered more than 30% of clinical trials as of Jan 2023. The decentralised clinical trials recorded a 25% increase in 2022. The decentralization of clinical trials have increased the momentum for clinical trials market.

Growing Disease Burden

The prevalence of chronic disorders across the world is high. The chronic disorders account for 74% of the death globally. In the U.S. 125 million citizens have chronic disorder. The growth of infectious diseases is also alarming with 71.8 per 10,000 population have an infectious disease currently. The huge disease burden is resulting in huge demand for new drugs. The higher demand of mew drugs is resulting in high demand for quick & effective clinical trials driving the clinical trials market growth.

Majority of the new molecules are dedicate to cancer therapy. In 2021, the prevalence of cancer is 450 cases of cancer per 10,000 population. The mortality from cancer is higher in men with 190 deaths per 10,000 men. Cancer being a leading cause of mortality globally, is a point of attention for pharmaceutical industry. The new cancer drugs require detailed clinical trials. This is expected to have positive impact on the clinical trials market during the forecast period.
Clinical Trials Market Segment Analysis:
Based on Phase

On the basis of Phase, the clinical trials market is segmented into phase I, II, III & IV. Phase III dominated the market in 2021. Phase III trials are highly expensive & involve large subjects. The average cost of clinical trail is 19.0 million. Companies receive approvals post phase III trials making it a crucial phase in clinical trials.

Phase IV trials are expected to witness fastest growth in the clinical trials market during the forecast period. Duration of therapy, dose, variety of formulations & other interaction are studied in this phase as post marketing surveillance. The increase in no of service providers providing post marketing surveillance is driving the segment growth.

Based on the Service Type

Based on the service type, laboratory services segment accounted for the highest growth in the clinical trials market. Laboratory services are adopted during all phases of clinical trials. The quality & efficacy of products is determined through various qualitative & quantitative testing requiring laboratory services.

The Clinical trials logistic & supply services are expected to witness significant growth in the clinical trials market during the forecast period. The supply for volunteers & logistic management is crucial for clinical trials. The increase in the amount of clinical trials is driving the need for these services.

Based on the Therapy

Based on the therapy type, the clinical trials market is segmented into cardiology, oncology, infectious diseases, women’s health, immunology, neurology & others. Oncology segment has the highest market share in 2021. The increase in development for new cancer drugs in response to the rising prevalence.

The cardiology segment is expected to witness significant growth in the clinical trials market during the forecast period. Cardiac disorders are the leading cause of mortality worldwide as of 2021. The sedimentary lifestyle is expected to further increase the risk of cardiac disorders. The companies are investing a lot in the cardiac segment, driving the segment growth during the forecast period

Based on the Application

Based on the application the market is segmented into application, vaccines, cell & gene therapy and others. The vaccine segment has the highest market share in 2021. Companies are developing vaccines for various infectious diseases, especially COVID-19.

The gene therapy segment is expected to have significant growth during the forecast period. The companies are trying to target the genetic disorder patients. Lot of genetic disorders patients are looking solutions enabling them to live a better quality of life. This is expected to drive the market growth.
Clinical Trials Market Regional Insights:
By region, the Clinical trials market segmented into North America, Europe, Asia Pacific, Middle East Africa & Latin America. North America region. North America region is dominated the clinical trials market in 2021. The high investment on research & development in the region is driving the market growth. The availability of better infrastructure for clinical testing in the region is expected to drive the Clinical trials market growth in the region.

Asia Pacific region is estimated to have the fastest growth during the forecast period. This can be attributed to the presence & interest of key players like Novartis Ag, AstraZeneca, GSK and others in the region. The companies are conducting campaigns for undetected patients & spreading awareness. This is resulting in higher no of cases detected & treated driving the segment growth.
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Clinical Trials Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 48.7 Bn.


Forecast Period 2023 to 2029 CAGR:
6.1%
Market Size in 2029:
US $ 78.3 Bn.


 Segments Covered:
by Phase
1.Phase I
2.Phase II
3.Phase III
4.Phase IV


by Service Type
1.Protocol Designing
2.Site Identification
3.Patient Recruitment
4.Laboratory Services
5.Bioanalytical Testing Services
6.Analytical Testing Services
7.Clinical Trials Supply & Logistic Services
8.Decentralized Clinical Services
9.Clinical Trial Management Services
10.Medical Device Testing Services
11.Other clinical trial services


by Therapy
1.Oncology
2.Infectious Diseases
3.Cardiology
4.Neurology
5.Women’s Health
6.Genetic Diseases
7.Immunology
8.Other Therapy Area’s


by Application
1.Vaccine
2.Cell & Gene Therapy
3.Small Molecules
4.Other Applications



Clinical Trials Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Clinical Trials Market Key Players
1.IQVIA
2.Clario
3. Clinipace
4.aboratory Corporation of America
5. Eli Lilly and Company
6.ICON PLC
7.Novo Nordisk AS
8.PAREXEL International Corporation
9.Pfizer Inc.
10.Pharmaceutical Product Development LLC
11. Hoffmann-La Roche Ltd
12. Sanofi SA
13.Syneos Health
14.ClinDatrix Inc
15.Charles River Laborator

Frequently Asked Questions:

1] What segments are covered in the Global Clinical trials Market report?
Ans. The segments covered in the Clinical trials Market report are based on phase, service type, therapy type and application and Region.

2] Which region is expected to hold the highest share in the Global Clinical trials Market?
Ans. The North America region is expected to hold the highest share of the Clinical Trials Market.

3] What is the market size of the Clinical Trials Market by 2029?
Ans. The market size of the Clinical Trials Market by 2029 is expected to reach US$ 78.3 Bn.

4] What is the forecast period for the Global Clinical Trials Market?
Ans. The forecast period for the Clinical trials Market is 2023-2029.

5] What was the market size of the Clinical Trials Market in 2021?
Ans. The market size of the Clinical Trials Market in 2021 was valued at US$ 48.7 Bn.