With a value of $79,977.1 million predicted for the worldwide clinical trials market by 2031 and a consistent annual growth rate of 6.8% predicted for the forecast period of 2021 to 2031, the market is anticipated to experience significant expansion. The prevalence of chronic diseases like cancer and diabetes, the emergence of tropical and infectious diseases like COVID-19, and the significant increase in government initiatives and research and development (R&D) investments are the main causes of this surge in clinical trials and the demand for novel therapies.
Clinical Trials Market is essential to the creation and assessment of novel healthcare interventions, such as medications, therapies, and medical equipment. Pharmaceutical and biotechnology businesses are aggressively undertaking clinical studies to examine the safety and efficacy of their medicines in response to the rising demand for novel and personalised therapies. Additionally, as researchers look for novel medicines and treatment options to address these complicated medical disorders, the rising prevalence of chronic diseases, such as cancer and diabetes, has increased the demand for clinical trials.
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Clinical trials are becoming much more crucial than before due to the rise of tropical and infectious diseases, like the present COVID-19 epidemic. There has been a worldwide increase in clinical trial activity as a result of the pressing demand for efficient vaccines, treatments, and diagnostic tools. The development and approval of novel interventions have been sped up thanks to cooperation between governments, regulatory agencies, and research organisations, which has raised spending on clinical trials. In addition, since the importance of clinical trials in improving healthcare has become more widely recognised, governments have launched projects and allocated funds to support and streamline the clinical trial process.
In conclusion, it is anticipated that the global market for clinical trials would expand rapidly, reaching an estimated $79,977.1 million in value by 2031. The rise in government initiatives and R&D spending, the desire for novel therapeutics, the prevalence of chronic diseases, the spread of infectious and tropical diseases, and the rising number of clinical trials all contribute to the market’s growth. To promote medical innovation and enhance patient outcomes, market companies are actively involved in conducting studies and working with stakeholders.
Highlighted with 88 tables and 111 figures, this 198-page report “Global Clinical Trials Market 2021-2031 by Product Category (Drugs, Devices, Procedures), Phase (I, II, III, IV), Design (Interventional, Observational, Expanded Access), Service Type (Site Identification, Lab Services, Supply & Logistic, Decentralized Services), Indication (Oncology, Infectious Diseases, Cardiology, Obesity, Diabetes, Neurology), End User, and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global clinical trials market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2018-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
View Report Scope and Latest Developments in the Market:
In-depth qualitative analyses include identification and investigation of the following aspects:
- Market Structure
- Growth Drivers
- Restraints and Challenges
- Emerging Product Trends & Market Opportunities
- Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global Clinical Trials market in every aspect of the classification from perspectives of Offering, Sequencing Type, Technology, Application, End User, and Region.
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Based on Product Category, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Trials of Drugs
o Small Molecule Drugs
o Vaccines
o Cell & Gene Therapy
o Other Drugs
- Trials of Devices
- Trials of Procedures
Based on Phase, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Phase I
- Phase II
- Phase III
- Phase IV
By Design, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Interventional Studies
o Randomized Control Trial
o Adaptive Clinical Trial
o Non-randomized Control Trial
- Observational Studies
o Cohort Study
o Case Control Study
o Cross Sectional Study
o Ecological Study
- Expanded Access Trials
By Service Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Protocol Designing
- Site Identification
- Patient Recruitment
- Laboratory Services
- Bioanalytical Testing Services
- Clinical Trial Data Management Services
- Clinical Trial Supply & Logistic Services
- Decentralized Clinical Trial Services
- Medical Device Testing Services
- Other Clinical Trial Services
By Indication, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Oncology
- Infectious Diseases
- Cardiology
- Obesity
- Diabetes
- Neurology
- Immunology
- Pain Management
- Other Indications
By End User, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Pharmaceutical and Biotechnological Companies
- Clinical Research Organizations
- Clinical Testing Laboratories
- Other End Users
Geographically, the following regions together with the listed national/local markets are fully investigated:
- North America (U.S., Canada, and Mexico)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
- APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (UAE, Saudi Arabia, South Africa, Other Nations)
For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of key national markets by Phase, Design, and Indication over the forecast years are also included.
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The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
Accell Clinical Research LLC
Charles River Laboratory
ClinDatrix Inc
Clinipace
Eli Lilly and Company
- Hoffmann-La Roche Ltd.
ICON PLC
IQVIA Holdings, Inc.
Laboratory Corporation of America
Novo Nordisk AS
PAREXEL International Corporation
Pfizer Inc.
Pharmaceutical Product Development LLC
PRA Health Sciences
Sanofi SA
SGS SA
Syneos Health Inc.
Wuxi AppTec Inc.
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