Clinical Trials Market by Phase (Phase I, Phase II, Phase III, Phase IV) by Study Design (Observational, Interventional, Expanded Access) by Indication (Gastrointestinal, Cardiovascular, Autoimmune/Inflammation, Pain management, CNS condition, Cancer, Mental disorders, Oncology, Diabetes, Obesity, Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026

Published Date: 09-Feb-2021 Category: Technology & Media Report Format : PDF Pages: 110 Report Code: ZMR-5794 Status : Published

The Clinical Trials market is set for a rapid growth over the forecast period. In terms of revenue, the global Clinical Trials market accounted for USD 44.23 Billion in 2019 and is expected to reach USD 65.96 Billion by 2026, growing at a CAGR of 5.87%

Description

The Clinical Trials market is set for a rapid growth over the forecast period. In terms of revenue, the global Clinical Trials market accounted for USD 44.23 Billion in 2019 and is expected to reach USD 65.96 Billion by 2026, growing at a CAGR of 5.87%

Global Clinical Trials Market: Overview

Clinical trials are research experiments carried out in individuals aimed at testing a medical, behavioral, or surgical intervention. They are the key platform for researchers to find out if a new medication is safe and successful in humans, such as a new medicine, medical device or diet. A clinical study is also used to assess whether new treatments are more successful and/or have less adverse side effects than traditional therapies.

Other clinical trials are exploring ways of detecting a disease early, even before symptoms appear. It also research ways to stop a health condition. A clinical study can also look at how people coping with a life-threatening illness or a chronic health condition can make life easier. Often, clinical trials research the involvement of caregivers or support groups.

Before the United States Food and Drug Administration (FDA) approves the launch of a clinical trial, in which scientists conduct experimental tests and animal trials to assess the safety and effectiveness of possible treatment. The FDA gives permission for the intervention to be studied in humans if these studies produce favorable results.

Global Clinical Trials Market: Growth Factors

The rising prevalence of diseases such as Chronic Respiratory Disease (CRD), Chronic Kidney Disease (CKD), diabetes, cardiac stroke, neurological disorders, and cancer are the leading causes of disabilities and mortality worldwide, moreover the growing demand for clinical trials in developing countries is accelerating the growth of this industry.

The advent and outbreak of numerous chronic and infectious diseases has created challenges and new possibilities for research to explore new diagnostic methods, tests, medicines and vaccines for early detection, prevention and treatment of these diseases.

Hepatitis and HIV are both major chronic conditions. According to the World Health Organization (WHO), over 71 million people worldwide were reported to have hepatitis C infection as of October 2017. The WHO also reported that 36.7 million people worldwide have been infected by HIV. An article on infectious disease epidemiology released by the Mailman School of Public Health in Columbia reported that infectious diseases continue to have a profound effect on the health of people worldwide. In some areas of the world, numerous seasonal outbreaks of diseases, global epidemics, the danger of resistant bacteria, and the threat of emerging and newly detected pathogens increase the need for new approaches to identify such pathogens, to recognize their pathogenesis, and to formulate effective prevention and treatment. These factors have contributed to increased demand for clinical trials and are projected to boost the market for clinical trials during the forecast period.

The market is also attributed to the growing number of biologics, with a need for customized medicines and orphan drugs, hence the need for advanced technologies. Modernization of clinical trials, and the demand for contract research organizations (CROs) to perform clinical trials in the pharmaceutical industry, due to the diverse resources of CROs and the expansion of new technologies in clinical trials, are promoting market development.

Innovation of biomedical research often paves the way for business growth. The integration of sophisticated tech such as Electronic Data Capture (EDC) helps market players handle patient records that eventually decreases operational cost. Digitization also helps to comply with strict regulations by preserving patient information that minimize trial processing mistakes through the use of applications such as e-COA (Electronic Clinical Outcome Assessment).

Impact due to the outbreak of COVID-19

The emergence of a global coronavirus-induced pandemic is also driving the demand. Lives, populations, firms, and industries around the world are threatened by the rapidly emerging threat due to the outbreak of COVID-19. The pandemic has also adversely affected the current clinical trial ecosystem. For different clinical fields, it has influenced many ongoing trials. To resolve this, however, researchers are vigorously working on developing innovative therapeutics and COVID-19 vaccines which is encouraging market development.

The latest pandemic is changing the way ongoing or upcoming clinical trials are performed. For example, regulatory agencies such as the European Medicines Agency (EMA), the U.S. Food and Drug Administration (FDA), China’s National Medical Products Administration, and National Institutes of Health (NIH) among others have released recommendations relating to the execution of coronavirus outbreak trials, which are completely endorsed by the inclusion of virtual services.

The existing worldwide situation and the need to come up with alternatives for treatment has also contributed to the fast-track of clinical trials. The favorable support of the government boosts the growth of the sector. In order to find successful therapy against COVID-19, the World Health Organization (WHO) initiated "Solidarity," an international clinical trial. To test their efficacy against Coronavirus, it involves reviewing four treatment options against the standard of care. In May, the WHO also announced an international partnership to establish multiple candidate vaccines simultaneously to combat the risk of coronavirus disease, naming this initiative the Solidarity vaccine trial.

Global Clinical Trials Market: Segmentation

By critical trials phases, the market is divided into Phase I, Phase II, Phase III, and Phase IV. In 2020, the Phase III segment ranked first in terms of revenue share. This rise is due to the fact that Phase III experiments are the most expensive and include large subjects. Phase III often involves a greater number of patients and therefore a longer period of therapy.

Phase III was followed by the Phase II segment with respect to market share in 2020. After Phase III, it is also the next most expensive stage. This research is conducted in two parts. The first phase contains exploring a number of doses with efficacy trials, and the second stage covers finalizing the dosage. Particularly in oncology-related studies, Phase II plays an important role. Different therapeutic and vaccine therapies for the treatment of coronavirus are presently in phase II, hence stimulating market development.

On the basis of study design, the market is segmented into Observational trials, Expanded Access trials, and Interventional trials. The market was dominated by the interventional trial segment and accounted for the largest revenue share in 2020. It is one of the most common approaches used in clinical studies. As of May 2020, interventional trials constitute 79.0 percent of total registered studies, most of which are for medication or biologics studies, followed by clinical, behavioral, and system intervention studies.

The Expanded Access Test category is expected to grow at a fastest rate during the forecast era. If satisfactory treatments are not available, it is a possible pathway for patients with severe disease conditions to seek out treatment outside the trial. Increased advancement in clinical trial methods is anticipated to drive the expanded access trial segment. For example, a variety of oncology medications are routinely administered to patients prior to the approval of the U.S. FDA, which is considered as a part of the expanded access trial.

In terms of Indication, the market is categorized into Gastrointestinal, Cardiovascular Autoimmune/Inflammation, Pain management, CNS condition, Cancer, Mental disorders, Oncology, Diabetes, Obesity and Others. The Oncology segment dominated the market for clinical trials in terms of revenue share in 2020. The segment is also expected to witness the fastest CAGR in the forecast era.

The cardiovascular disorder segment is also expected to see a lucrative growth rate over the forecast period. Increasing prevalence and demand for cost-effective drugs across the globe have led to substantial investment in R&D, with more than 190 medicines in the pipeline. The majority of medications in the pipeline are for lipid disorders, heart failure, artery disease, and stroke. Rising demand for cost-effective drugs in low-and middle-income economies is anticipated to enhance government expenditure in R&D in this segment, stimulating market growth.

Global Clinical Trials Market: Regional Analysis

By Geography, the clinical trials market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa.

North America held the largest revenue share in 2020 and is predicted to remain dominant in the coming years. This can be due to an increase in R&D in this area and an increase in the adoption of emerging technologies in clinical research. For example, the introduction of virtual services in the clinical trial protocol by industry players such as PRA Health Sciences and IQVIA is expected to further propel the growth of the North American market. In addition, favorable government initiatives for clinical trials in the United states are expected to fuel business growth. For example, in March 2020, the FDA introduced the Coronavirus Treatment Acceleration Program (CTAP), inorder to accelerate the advancement of coronavirus-related global disease therapy for possible treatments. This initiative involved every means at its control to deliver innovative care to patients as soon as possible, and also figuring out whether they are dangerous or beneficial.

In Asia Pacific, the market is expected to be the fastest CAGR in the forecast period due to the growing availability of a wide patient pool that facilitates easy candidate recruitment. The global pandemic is also the biggest contributor to consumer growth. According to Asia Pacific's largest expert biotech firm, "Novotech CRO," the company is seeing an increase in demand from biotechnological sponsors for studies in the Asia pacific due to the availability of quality and pace. To take advantage of the large patient pool and fast-track procedures, a growing number of biotechnology companies are looking at the Asia pacific for their COVID-19 trials.

Global Clinical Trials Market: Competitive Players

The major players in the global clinical trials market include IQVIA, Inc., Laboratory Corporation of America Holdings, Parexel International Corporation, Syneos Health, PPD, Inc., PRA Health Sciences, Inc., Icon plc, WuXi AppTec, Charles River Laboratories, Inc., and Medpace Holdings, Inc. among others.

The report segment of global clinical trials market are as follows:

Global Clinical Trials Market: Phase Segment Analysis

  • Phase I
  • Phase II
  • Phase III
  • Phase IV

Global Clinical Trials Market: Study Design Segment Analysis

  • Observational
  • Interventional
  • Expanded Access

Global Clinical Trials Market: Indication Segment Analysis

  • Gastrointestinal
  • Cardiovascular
  • Autoimmune/Inflammation
  • Pain management
  • CNS condition
  • Cancer
  • Mental disorders
  • Oncology
  • Diabetes
  • Obesity
  • Others

Global Clinical Trials Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description
      • 1.1.1. Objective
      • 1.1.2. Target Audience
      • 1.1.3. Unique Selling Proposition (USP) & Offerings
    • 1.2. Research Scope
    • 1.3. Research Methodulogy
      • 1.3.1. Market Research Process
      • 1.3.2. Market Research Methodulogy
      • 1.3.3. Level 1: Primary Research
      • 1.3.4. Level 2: Secondary Research
      • 1.3.5. Level 3: Data Validation and Expert Panel Assessment Report Description and Scope
  • Chapter 2. Executive Summary
    • 2.1. Global Clinical Trials Market, 2016-2026, (USD Billion)
    • 2.2. Clinical Trials Market: Market snapshot
  • Chapter 3. Global Clinical Trials Market – Industry Analysis
    • 3.1. Introduction
    • 3.2. Industry ecosystem analysis
    • 3.3. Technulogy landscape
    • 3.4. Market Drivers
      • 3.4.1. North America
      • 3.4.2. Europe
      • 3.4.3. Asia Pacific
      • 3.4.4. Latin America
      • 3.4.5. MEA
    • 3.5. Restraints
    • 3.6. Opportunity
    • 3.7. Innovation & sustainability
    • 3.8. Regulatory landscape
    • 3.9. Porter’s Five Forces Analysis
    • 3.10. PESTLE Analysis
    • 3.11. Clinical Trials Market: Market Attractiveness Analysis
      • 3.11.1. Market Attractiveness Analysis by Phase Segment
      • 3.11.2. Market Attractiveness Analysis by Study Design Segment
      • 3.11.3. Market Attractiveness Analysis by Indication Segment
  • Chapter 4. Global Clinical Trials Market - Competitive Landscape
    • 4.1. Company Market Share Analysis, 2019
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions and Mergers
      • 4.2.2. New Product Launch
      • 4.2.3. Agreements, Partnerships, Cullaborations and Joint Ventures
      • 4.2.4. Research & Development and Regional Expansion
  • Chapter 5. Clinical Trials Market – Phase Segment Analysis
    • 5.1. Global Clinical Trials Market Revenue Share, by Phase, 2019 & 2026 (USD Billion)
    • 5.2. Global Clinical Trials Market by Phase I, 2016 – 2026 (USD Billion)
    • 5.3. Global Clinical Trials Market by Phase II, 2016 – 2026 (USD Billion)
    • 5.4. Global Clinical Trials Market by Phase III, 2016 – 2026 (USD Billion)
    • 5.5. Global Clinical Trials Market by Phase IV, 2016 – 2026 (USD Billion)
  • Chapter 6. Clinical Trials Market – Study Design Segment Analysis
    • 6.1. Global Clinical Trials Market Revenue Share, by Study Design, 2019 & 2026 (USD Billion)
    • 6.2. Global Clinical Trials Market by Observational, 2016 – 2026 (USD Billion)
    • 6.3. Global Clinical Trials Market by Interventional, 2016 – 2026 (USD Billion)
    • 6.4. Global Clinical Trials Market by Expanded Access, 2016 – 2026 (USD Billion)
  • Chapter 7. Clinical Trials Market – Indication Segment Analysis
    • 7.1. Global Clinical Trials Market Revenue Share, by Indication, 2019 & 2026 (USD Billion)
    • 7.2. Global Clinical Trials Market by Gastrointestinal, 2016 – 2026 (USD Billion)
    • 7.3. Global Clinical Trials Market by Cardiovascular, 2016 – 2026 (USD Billion)
    • 7.4. Global Clinical Trials Market by Autoimmune/Inflammation, 2016 – 2026 (USD Billion)
    • 7.5. Global Clinical Trials Market by Pain management, 2016 – 2026 (USD Billion)
    • 7.6. Global Clinical Trials Market by CNS condition, 2016 – 2026 (USD Billion)
    • 7.7. Global Clinical Trials Market by Cancer, 2016 – 2026 (USD Billion)
    • 7.8. Global Clinical Trials Market by Mental disorders, 2016 – 2026 (USD Billion)
    • 7.9. Global Clinical Trials Market by Onculogy, 2016 – 2026 (USD Billion)
    • 7.10. Global Clinical Trials Market by Diabetes, 2016 – 2026 (USD Billion)
    • 7.11. Global Clinical Trials Market by Obesity, 2016 – 2026 (USD Billion)
    • 7.12. Global Clinical Trials Market by Others, 2016 – 2026 (USD Billion)
  • Chapter 8. Clinical Trials Market - Regional Analysis
    • 8.1. Global Clinical Trials Market: Regional Overview
      • 8.1.1. Global Clinical Trials Market Revenue Share, By Region, 2019 & 2026 (USD Billion)
    • 8.2. North America
      • 8.2.1. North America Clinical Trials Market Revenue 2016 – 2026 (USD Billion)
      • 8.2.2. North America Clinical Trials Market Revenue, By Phase, 2016 – 2026 (USD Billion)
      • 8.2.3. North America Clinical Trials Market Revenue, By Study Design, 2016 – 2026 (USD Billion)
      • 8.2.4. North America Clinical Trials Market Revenue, By Indication, 2016 – 2026 (USD Billion)
      • 8.2.5. U.S.
        • 8.2.5.1. U.S. Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.2.5.2. U.S. Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.2.5.3. U.S. Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.2.6. Canada
        • 8.2.6.1. Canada Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.2.6.2. Canada Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.2.6.3. Canada Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.2.7. Mexico
        • 8.2.7.1. Mexico Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.2.7.2. Mexico Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.2.7.3. Mexico Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
    • 8.3. Europe
      • 8.3.1. Europe Clinical Trials Market Revenue 2016 – 2026 (USD Billion)
      • 8.3.2. Europe Clinical Trials Market Revenue, By Phase, 2016 – 2026 (USD Billion)
      • 8.3.3. Europe Clinical Trials Market Revenue, By Study Design, 2016 – 2026 (USD Billion)
      • 8.3.4. Europe Clinical Trials Market Revenue, By Indication, 2016 – 2026 (USD Billion)
      • 8.3.5. UK
        • 8.3.5.1. UK Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.3.5.2. UK Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.3.5.3. UK Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.3.6. France
        • 8.3.6.1. France Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.3.6.2. France Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.3.6.3. France Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.3.7. Germany
        • 8.3.7.1. Germany Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.3.7.2. Germany Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.3.7.3. Germany Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.3.8. Italy
        • 8.3.8.1. Italy Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.3.8.2. Italy Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.3.8.3. Italy Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.3.9. Spain
        • 8.3.9.1. Spain Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.3.9.2. Spain Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.3.9.3. Spain Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.3.10. Russia
        • 8.3.10.1. Russia Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.3.10.2. Russia Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.3.10.3. Russia Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.3.11. Rest of Europe
        • 8.3.11.1. Rest of Europe Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.3.11.2. Rest of Europe Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.3.11.3. Rest of Europe Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
    • 8.4. Asia Pacific
      • 8.4.1. Asia Pacific Clinical Trials Market Revenue 2016 – 2026 (USD Billion)
      • 8.4.2. Asia Pacific Clinical Trials Market Revenue, By Phase, 2016 – 2026 (USD Billion)
      • 8.4.3. Asia Pacific Clinical Trials Market Revenue, By Study Design, 2016 – 2026 (USD Billion)
      • 8.4.4. Asia Pacific Clinical Trials Market Revenue, By Indication, 2016 – 2026 (USD Billion)
      • 8.4.5. China
        • 8.4.5.1. China Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.4.5.2. China Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.4.5.3. China Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.4.6. Japan
        • 8.4.6.1. Japan Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.4.6.2. Japan Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.4.6.3. Japan Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.4.7. India
        • 8.4.7.1. India Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.4.7.2. India Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.4.7.3. India Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.4.8. Australia
        • 8.4.8.1. Australia Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.4.8.2. Australia Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.4.8.3. Australia Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.4.9. South Korea
        • 8.4.9.1. South Korea Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.4.9.2. South Korea Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.4.9.3. South Korea Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.4.10. Rest of Asia Pacific
        • 8.4.10.1. Rest of Asia Pacific Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.4.10.2. Rest of Asia Pacific Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.4.10.3. Rest of Asia Pacific Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
    • 8.5. Latin America
      • 8.5.1. Latin America Clinical Trials Market Revenue 2016 – 2026 (USD Billion)
      • 8.5.2. Latin America Clinical Trials Market Revenue, By Phase, 2016 – 2026 (USD Billion)
      • 8.5.3. Latin America Clinical Trials Market Revenue, By Study Design, 2016 – 2026 (USD Billion) Latin America Clinical Trials Market Revenue, By Indication, 2016 – 2026 (USD Billion)
      • 8.5.4. Brazil
        • 8.5.4.1. Brazil Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.5.4.2. Brazil Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.5.4.3. Brazil Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.5.5. Argentina
        • 8.5.5.1. Argentina Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.5.5.2. Argentina Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.5.5.3. Argentina Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.5.6. Rest of Latin America
        • 8.5.6.1. Rest of Latin America Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.5.6.2. Rest of Latin America Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.5.6.3. Rest of Latin America Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
    • 8.6. Middle East & Africa
      • 8.6.1. Middle East & Africa Clinical Trials Market Revenue 2016 – 2026 (USD Billion)
      • 8.6.2. Middle East & Africa Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
      • 8.6.3. Middle East & Africa Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
      • 8.6.4. Middle East & Africa Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.6.5. GCC Countries
        • 8.6.5.1. GCC Countries Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.6.5.2. GCC Countries Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.6.5.3. GCC Countries Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.6.6. South Africa
        • 8.6.6.1. South Africa Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.6.6.2. South Africa Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.6.6.3. South Africa Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
      • 8.6.7. Rest of MEA
        • 8.6.7.1. Rest of MEA Clinical Trials Market Revenue, by Phase, 2016 – 2026 (USD Billion)
        • 8.6.7.2. Rest of MEA Clinical Trials Market Revenue, by Study Design, 2016 – 2026 (USD Billion)
        • 8.6.7.3. Rest of MEA Clinical Trials Market Revenue, by Indication, 2016 – 2026 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1. IQVIA, Inc.
      • 9.1.1. Overview
      • 9.1.2. Financials
      • 9.1.3. Product portfulio
      • 9.1.4. Business strategy
      • 9.1.5. Recent developments
    • 9.2. *Same information will be provided for below mentioned companies*
      • 9.3. Laboratory Corporation of America Huldings
      • 9.4. Parexel International Corporation
      • 9.5. Syneos Health
      • 9.6. PPD, Inc.
      • 9.7. PRA Health Sciences, Inc.
      • 9.8. Icon plc
      • 9.9. WuXi AppTec
      • 9.10. Charles River Laboratories, Inc.
      • 9.11. Medpace Huldings, Inc.
      • 9.12. Others

Methodology


Frequently Asked Questions

The rising prevalence of diseases such as Chronic Respiratory Disease (CRD), Chronic Kidney Disease (CKD), diabetes, cardiac stroke, neurological disorders, and cancer are the leading causes of disabilities and mortality worldwide, moreover the growing demand for clinical trials in developing countries is accelerating the growth of this industry.

The advent and outbreak of numerous chronic and infectious diseases has created challenges and new possibilities for research to explore new diagnostic methods, tests, medicines and vaccines for early detection, prevention and treatment of these diseases.

Hepatitis and HIV are both major chronic conditions. According to the World Health Organization (WHO), over 71 million people worldwide were reported to have hepatitis C infection as of October 2017. The WHO also reported that 36.7 million people worldwide have been infected by HIV. An article on infectious disease epidemiology released by the Mailman School of Public Health in Columbia reported that infectious diseases continue to have a profound effect on the health of people worldwide. In some areas of the world, numerous seasonal outbreaks of diseases, global epidemics, the danger of resistant bacteria, and the threat of emerging and newly detected pathogens increase the need for new approaches to identify such pathogens, to recognize their pathogenesis, and to formulate effective prevention and treatment. These factors have contributed to increased demand for clinical trials and are projected to boost the market for clinical trials during the forecast period.

The market is also attributed to the growing number of biologics, with a need for customized medicines and orphan drugs, hence the need for advanced technologies. Modernization of clinical trials, and the demand for contract research organizations (CROs) to perform clinical trials in the pharmaceutical industry, due to the diverse resources of CROs and the expansion of new technologies in clinical trials, are promoting market development.

Innovation of biomedical research often paves the way for business growth. The integration of sophisticated tech such as Electronic Data Capture (EDC) helps market players handle patient records that eventually decreases operational cost. Digitization also helps to comply with strict regulations by preserving patient information that minimize trial processing mistakes through the use of applications such as e-COA (Electronic Clinical Outcome Assessment).

According to Zion Market Research, the Clinical Trials market is expected to generate revenue of around USD 65.96 Billion by the end of 2026, growing at a CAGR of 5.87%.

By Geography, the clinical trials market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa.

North America held the largest revenue share in 2020 and is predicted to remain dominant in the coming years. This can be due to an increase in R&D in this area and an increase in the adoption of emerging technologies in clinical research. For example, the introduction of virtual services in the clinical trial protocol by industry players such as PRA Health Sciences and IQVIA is expected to further propel the growth of the North American market. In addition, favorable government initiatives for clinical trials in the United states are expected to fuel business growth. For example, in March 2020, the FDA introduced the Coronavirus Treatment Acceleration Program (CTAP), inorder to accelerate the advancement of coronavirus-related global disease therapy for possible treatments. This initiative involved every means at its control to deliver innovative care to patients as soon as possible, and also figuring out whether they are dangerous or beneficial.

In Asia Pacific, the market is expected to be the fastest CAGR in the forecast period due to the growing availability of a wide patient pool that facilitates easy candidate recruitment. The global pandemic is also the biggest contributor to consumer growth. According to Asia Pacific's largest expert biotech firm, "Novotech CRO," the company is seeing an increase in demand from biotechnological sponsors for studies in the Asia pacific due to the availability of quality and pace. To take advantage of the large patient pool and fast-track procedures, a growing number of biotechnology companies are looking at the Asia pacific for their COVID-19 trials.

The major players in the global clinical trials market include IQVIA, Inc., Laboratory Corporation of America Holdings, Parexel International Corporation, Syneos Health, PPD, Inc., PRA Health Sciences, Inc., Icon plc, WuXi AppTec, Charles River Laboratories, Inc., and Medpace Holdings, Inc. among others.

Office Address

Corporate Office
Zion Market Research 244 Fifth Avenue, Suite N202 New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll Free No.1-855-465-4651

Asia Pacific Office
3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No 020-46277770

Contact #
US OFFICE NO +1-386-310-3803
US/CAN TOLL FREE +1-855-465-4651
Email: sales@zionmarketresearch.com

We Accept

We have secured system to process your transaction.


We Are On Social