Clinical Trials Market Research Report- Forecast till 2027

Clinical Trials Market Research Report: by Phase (Phase I, Phase II, Phase III) by Study Design (Interventional, Observational and Expanded Access), by Indication (Autoimmune/Inflammation) by End User (Medical Institutes, Hospitals)-Forecast Till 2027

ID: MRFR/HC/6317-HCR | February 2021 | Region: Global | 110 pages

Clinical Trials Market Scenario

Clinical Trials Market is expected to grow steadily over the forecast period. It is projected that the clinical trials market is growing at a healthy CAGR of 5.7% over the forecast period.

Clinical trials which is also called as clinical research study, is a scientific study performed to evaluate the efficacy, efficiency and effects of experimental medical treatments on health. Clinical trials also help to find which medical methods work best for certain diseases or groups of people which helps to standardize the dosage according to the patient.

The globalization and increase in new product development in healthcare sector has increased the clinical trials market. The other key factors driving thegrowth are development of new treatments methods such as personalized medicine, growing evolution in technology, and rising demand for contract research organization (CROs) to conduct clinical trials.

Many pharmaceutical companies are working with different CRO to enhance its product portfolio and drive innovation. Novartis AG a leading healthcare company publishes a summarized detail of all clinical trials performed by the company to maintain transparency of their clinical trials. However, the high cost, stringent government regulations affects the clinical trials growth. 

 Figure 1: - Global Clinical Trials Market Share, By Region

Global Clinical Trials Market Share, By Region

Sources: WHO, Centres for Medicare & Medicaid Services, annual reports, press release, white paper, and company presentation

Clinical Trials Market Segmentation

The global clinical trials industry is segmented on the basis of phase, study design, indication and end users. On the basis of the phase, the market is categorized into phase I, phase II, phase III, and phase IV. On the basis of study design, the global clinical trials market is segmented into interventional, observational and expanded access. On the basis of indication, the global clinical trials market is segmented into autoimmune/inflammation, pain management, oncology, central nervous system (CNS) condition, diabetes, obesity, cardiovascular and others. On the basis of the end-user, the clinical trials market is segmented into dental hospitals & clinics, dental institutes and dental academic and research institutes.

Clinical Trials Market Regional Analysis

The Americas dominate the global clinical trials market owing to presence of large number of pharmaceutical companies, huge patient population and growing innovation to develop new products. Also, the increasing cases of patients suffering from cancer, diabetes and other life-threatening diseases promotes the clinical trial methods to develop treatment options. According to the American Cancer Society in 2018, 63,340 new cases of kidney cancer are estimated in the U.S which increases the demand for innovative drugs. The National Cancer Institute is involved in clinical trials on different types of cancer to develop treatment methods on it. The global clinical trials market in Europe is the second largest market. Factors such as high R&D spending of the pharmaceutical industry and increasing prevalence of disease and new disease cases is predictable to give further boost to the clinical trials market. In Europe has introduced new regulations in clinical trials in which the European Commission has wished to give a strong motivation to scientific research and industrial progress. The introduction of new favourable regulations for clinical trials and increasing demand for new products across the Europe would boost the clinical trials market growth. Asia Pacific region is the fastest growing market owing to the increasing prevalence of diseases, growing focus on developing medication for rare diseases and growing government support with regards to development of the outsourcing hubs enhances the clinical trials market. In countries like India, China and Australia the developing economy and low cost to operate clinical trial facilities supplies the market growth in this region. On the other hand, the Middle East & Africa has the least share in the global clinical trials  market. This can be attributed to the presence of poor economies, less technical facilities, lack of scientific knowledge and a smaller number of clinical trials centers especially in the African region decreases the market growth. It is estimated that a majority of the clinical trials market in the Middle East & Africa region is held by the Middle East due to the presence of a well-developed healthcare sector and huge healthcare expenditure the economies like Saudi Arabia, Kuwait, and Qatar within the region.  
Research Methodology

Research Methodology

Sources: WHO, Centres for Medicare & Medicaid Services, Centres for Disease Control and Prevention, Eurostat, Indian Brand Equity Foundation, Annual Reports, Press Release, White Paper, and Company Presentations.

Key Players 

some of the major players for clinical trials market are 

  • Charles River Laboratories

  • Paraxel International Corporation

  • Quintiles IMS

  • ICON plc

  • SGS SA

  • Eli Lilly and Company

  • Novo Nordisk A/S

  • Clinipace

  • Laboratory Corporation of America

  • Pfizer

Intended Audience

  • Pharmaceutical Companies

  • Biotechnological Institutes

  • Research and Development (R&D) Companies

  • Medical Research Laboratories

  • Market Research And Consulting Service Providers

Report Scope:
Report Attribute/Metric Details
  Market Size   Significant Value
  CAGR   2018-2023: 5.7%
  Base Year   2019
  Forecast Period   2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Phase, Study design, Indication and End users
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Charles River Laboratories,Paraxel International Corporation, Quintiles IMS, ICON plc, SGS SA, Eli Lilly and Company, Novo Nordisk A/S, Clinipace, Laboratory Corporation of America, Pfizer and Others
  Key Market Opportunities   New product development
  Key Market Drivers

  • Development of new treatments methods such as personalized medicine
  • Growing evolution in technology
  • Rising demand for contract research organization (cros) to conduct clinical trials.

  • Frequently Asked Questions (FAQ) :

    Clinical trials market is expected to exhibit a solid 5.7% CAGR over the forecast period.

    The growing demand to find effective cures to chronic and infectious diseases is the major driver for the clinical trials market.

    By indication, the global clinical trials market is segmented into autoimmune disorders, pain management, oncology, CNS conditions, diabetes, obesity, CVDs, and others.

    The Americas dominate the global clinical trials market, followed by Europe.

    Leading players in the global clinical trials market include Eli Lilly, Novo Nordisk, Quintiles IMS, Charles River Laboratories, and others.

    This table of content is tentative and subject to change as the research progresses.

    Please Note:  Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.