September 23, 2021
Clinical Trials

Clinical Trials Market Revenue Will Cross US$ 82.5 Billion by 2027

The global clinical trials market value is expected to reach US$ 82.5 Billion by the end of 2027, decelerating at a CAGR of 5.7% from 2020 to 2027. The report contains 150+ pages with detailed analysis. The study provides the overall revenue of the global clinical trials market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.

The global clinical trials market research report gives a brief summary of definitions, size analysis, and place of production, sales, applications, types, and major players/key vendors of the clinical trials industry. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace. This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

Clinical Trials are a type of clinical research that are performed in people and are intended at assessing a behavioral, surgical, or medical intervention. Clinical Trials act as the prime way employed by the scientists to investigate if a new therapy, a medical device or a novel drug is secure and efficient in individuals. A clinical trial is also regularly used to study if a new therapy is more competent and presents less detrimental side effects than the conventional treatments. In order to get the approval of U.S. FDA for the initiation of clinical trials, the scientists first have to perform laboratory tests and examinations in animals in order to test a probable therapy’s efficacy and safety. If these research studies display favorable outcomes, the U.S. FDA grants approval for the therapy to be assessed in humans. After the necessary approvals, Individuals can volunteer to participate in clinical trials in order to test medicinal interventions that include drugs, devices, biological products, radiological procedures, surgical procedures, and preventive care. Clinical trials comprise of five phases.

The phase 0 trials are the initial clinical trials performed among humans. These trials aim to study how a medication is handled in the human body and in what way it influences the body. The objective of phase I trials is to identify the best dosage of a new medication with minimal side effects. Phase II clinical trials further evaluate safety along with the working of a medication. Phase III trials corelate a new medication to the standard-of-care medication. Phase IV trials examine new drugs permitted by the FDA. The medication is evaluated in several thousands of patients.

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Growth Factors:

Factors such as growing prevalence of chronic disorders, increasing number of clinical trials in developing regions, growing number of biologics, increasing demand for advanced treatments such as personalized medicines, outbreak of viral diseases, increasing cases of cancer globally, growing geriatric population and growing research and development expenditure are propelling the clinical trials market expansion across the globe. Additional aspects that are anticipated to fuel this industry are increasing popularity of contract research organizations (CROs) and technological innovations. Constant collaborations and partnerships between major market players in order to launch new and innovative technologies have enhanced the demand for overall market for the clinical trials market.

Contract research organizations (CROs) are vital to the biotech, pharmaceutical, and medical devices industries as they support efforts of the client company to test, enhance, and market the modern pharmaceutical products and medical devices.

Report Highlights:

  • Among the phase segment, phase 3 dominated the overall market in 2020. Involvement of large number of participants and high cost is the major reason for high market share of phase 3 clinical trials.
  • The interventional study accounted for the largest revenue in the study design segment with more than 46% share in 2020. Factors such as high use in drug and biologics studies and technological innovations drive the growth of interventional study.
  • Oncology accounted for the largest revenue in the indication segment. High prevalence of cancer in developing regions is the key reason for high market share of oncology.
  • The key companies included in the analysis are Parexel, IQVIA, Charles River Laboratory, Omnicare, Kendle, Chiltern, and Pharmaceutical Product Development, LLC. Among others. IQVIA accounted for a significant share of the global clinical trials market.

Regional Analysis:

The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2020, North America dominated the global market with a market share of more than 52%. U.S. represented the highest share in the North American region primarily due to presence of latest healthcare infrastructure and early adoption of new technologies in clinical research. Furthermore, high investment by major market players also contributed to the high market share of the United States.

Europe was the second important market chiefly due to presence of skilled researchers and increasing research and development activities. High incidence of chronic disorders in the European region is also expected to boost the demand for clinical trials market in the near future. Asia Pacific is anticipated to grow at the maximum CAGR of around 6.7% in the forecast period due to high incidence of viral disorders. Latin America and the African and Middle Eastern region will display noticeable growth.

Top Players Contending in the Market:

The key companies are aiming towards advanced innovations and are predictable to dominate the target market. Foremost players inspiring in the global clinical trials market are as follows:

  • Parexel
  • IQVIA
  • Charles River Laboratory
  • Omnicare
  • Kendle
  • Chiltern
  • Pharmaceutical Product Development, LLC

Market Segmentation

By Phase

  • Phase 1
  • Phase 2
  • Phase 3
  • Phase 4

By Study Design

  • Observational
  • Interventional
  • Expanded Access

By Indication

  • Oncology
  • Autoimmune/Inflammation
  • Diabetes
  • Central Nervous System
  • Cardiovascular
  • Pain Management
  • Others

Regional Segmentation

  • North America (U.S. and Canada)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
  • Latin America (Brazil and Rest of Latin America)
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Some of the key highlights covered in the report include:

Market Demand-Supply Analysis – The report covers detailed insights into demand and supply forces prevailing in the global clinical trials market. It examines trends and factors influencing demand for clinical trials globally and gauges the impact of the same on the production.

Pricing Analysis – The report presents an exclusive pricing analysis. It compares pricing strategies adopted by the leading market players and identifies the most remunerative strategies.

Market Segmentation – The report segments the global market in terms of diverse criteria. It identifies the leading segment within each category and identifies growth drivers and restraints affecting growth across each segment.

Regional Analysis – The report segments the market in terms of North America, Europe, Latin America, Asia Pacific, and Rest of the World in terms of region. It has chapters exclusively dedicated to analyzing growth trends across each region. It identifies growth drivers as well challenges affecting demand for clinical trials across the world.

Competitive Analysis – Some of the leading market players are profiled in the report on clinical trials. The report offers an estimation of share individually help by the market players and determines the impact of some of their popular strategies.

COVID-19 Impact Analysis – This chapter is exclusively dedicated to gauging how the market has evolved or will develop in the post-pandemic era.

Growth Recommendations – In the end, the report presents valuable recommendations to ready businesses for unforeseen challenges in the near future.

Why should you invest in this report?

If you are aiming to enter the global clinical trials market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for clinical trials are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions& Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Clinical Trials Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope

Chapter 5. COVID 19 Impact on Clinical Trials Market

5.1. Covid-19: Clinical Trials Industry Impact
5.2. Clinical Trials Business Impact Assessment: Covid-19
5.2.1. Services Challenges/Disruption
5.2.2. Market Trends and Clinical Trials Opportunities in the COVID-19 Landscape for Major Markets
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Clinical Trials Market Players to deal with Covid-19 Pandemic Scenario

Chapter 6. Clinical Trials Market Dynamics Analysis and Trends

6.1. Market Dynamics
6.1.1. Market Drivers
6.1.1.1. Growing prevalence of chronic disorders
6.1.1.2. Increasing number of clinical trials in developing regions
6.1.2. Market Restraints
6.1.2.1. Rigorous guidelines
6.1.3. Market Opportunities
6.1.3.1. Increasing demand for advanced treatments such as personalized medicines
6.1.3.2. Technological advancements

Chapter 7. Global Clinical Trials Market: Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. Clinical Trials Market Revenue by Market Players (2016 -2019)
7.1.1.2. Clinical Trials Market Revenue Market Share by Market Players (2016 -2019)
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Phase Portfolio Expansion, Geographic Expansion, Phase Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Market Players Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of End-users

Chapter 8. Global Clinical Trials Market, By Phase

8.1. Clinical Trials Market, by Phase, 2017 – 2030
8.1.1. Phase 1
8.1.1.1. Market Revenue and Forecast (2017 – 2030)
8.1.2. Phase 2
8.1.2.1. Market Revenue and Forecast (2017 – 2030)
8.1.3. Phase 3
8.1.3.1. Market Revenue and Forecast (2017 – 2030)
8.1.4. Phase 4
8.1.4.1. Market Revenue and Forecast (2017 – 2030)

Chapter 9. Global Clinical Trials Market, By Study Design

9.1. Clinical Trials Market, by Study Design, 2017 – 2030
9.1.1. Observational
9.1.1.1. Market Revenue and Forecast (2017 – 2030)
9.1.2. Interventional
9.1.2.1. Market Revenue and Forecast (2017 – 2030)
9.1.3. Expanded Access
9.1.3.1. Market Revenue and Forecast (2017 – 2030)

Chapter 10. Global Clinical Trials Market, By Indication

10.1. Clinical Trials Market, by Indication, 2017 – 2030
10.1.1. Oncology
10.1.1.1. Market Revenue and Forecast (2017 – 2030)
10.1.2. Autoimmune/Inflammation
10.1.2.1. Market Revenue and Forecast (2017 – 2030)
10.1.3. Diabetes
10.1.3.1. Market Revenue and Forecast (2017 – 2030)
10.1.4. Central Nervous System
10.1.4.1. Market Revenue and Forecast (2017 – 2030)
10.1.5. Cardiovascular
10.1.5.1. Market Revenue and Forecast (2017 – 2030)
10.1.6. Pain Management
10.1.7. Market Revenue and Forecast (2017 – 2030)
10.1.8. Others
10.1.8.1. Market Revenue and Forecast (2017 – 2030)

Chapter 11. Global Clinical Trials Market, Regional Estimates and Trend Forecast

11.1. North America
11.1.1. Market Revenue Forecast by Phase(2017 – 2030)
11.1.2. Market Revenue Forecast by Study Design(2017 – 2030)
11.1.3. Market Revenue Forecast by Indication (2017 – 2030)
11.1.4. U.S
11.1.4.1. Market Revenue Forecast (2017 – 2030)
11.1.5. Canada
11.1.5.1. Market Revenue Forecast (2017 – 2030)
11.2. Europe
11.2.1. Market Revenue Forecast by Phase (2017 – 2030)
11.2.2. Market Revenue Forecast by Study Design (2017 – 2030)
11.2.3. Market Revenue Forecast by Indication (2017 – 2030)
11.2.4. UK
11.2.4.1. Market Revenue Forecast (2017 – 2030)
11.2.5. Germany
11.2.5.1. Market Revenue Forecast (2017 – 2030)
11.2.6. France
11.2.6.1. Market Revenue Forecast (2017 – 2030)
11.2.7. Rest of EU
11.2.7.1. Market Revenue Forecast (2017 – 2030)
11.3. Asia Pacific (APAC)
11.3.1. Market Revenue Forecast by Phase (2017 – 2030)
11.3.2. Market Revenue Forecast by Study Design (2017 – 2030)
11.3.3. Market Revenue Forecast by Indication (2017 – 2030)
11.3.4. China
11.3.4.1. Market Revenue Forecast (2017 – 2030)
11.3.5. India
11.3.5.1. Market Revenue Forecast (2017 – 2030)
11.3.6. Japan
11.3.6.1. Market Revenue Forecast (2017 – 2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue Forecast (2017 – 2030)
11.4. LATAM
11.4.1. Market Revenue Forecast by Phase (2017 – 2030)
11.4.2. Market Revenue Forecast by Study Design (2017 – 2030)
11.4.3. Market Revenue Forecast by Indication (2017 – 2030)
11.4.4. Brazil
11.4.4.1. Market Revenue Forecast (2017 – 2030)
11.4.5. Rest of LATAM
11.4.5.1. Market Revenue Forecast (2017 – 2030)
11.5. Middle East and Africa (MEA)
11.5.1. Market Revenue Forecast by Phase (2017 – 2030)
11.5.2. Market Revenue Forecast by Study Design (2017 – 2030)
11.5.3. Market Revenue Forecast by Indication (2017 – 2030)
11.5.4. GCC
11.5.4.1. Market Revenue Forecast (2017 – 2030)
11.5.5. North Africa
11.5.5.1. Market Revenue Forecast (2017 – 2030)
11.5.6. South Africa
11.5.6.1. Market Revenue Forecast (2017 – 2030)
11.5.7. Rest of MEA
11.5.7.1. Market Revenue Forecast (2017 – 2030)

Chapter 12. Company Profiles

12.1. Parexel
12.1.1. Company Overview, Business Information, Regional Presence
12.1.2. Phase Portfolio Analysis
12.1.2.1. Product Details, Specification, Indication
12.1.3. Revenue, Price, and Gross Margin (2017 – 2020)
12.1.4. Recent Developments and Strategies
12.2. IQVIA
12.2.1. Company Overview, Business Information, Regional Presence
12.2.2. Phase Portfolio Analysis
12.2.2.1. Product Details, Specification, Indication
12.2.3. Revenue, Price, and Gross Margin (2017 – 2020)
12.2.4. Recent Developments and Strategies
12.3. Charles River Laboratory
12.3.1. Company Overview, Business Information, Regional Presence
12.3.2. Phase Portfolio Analysis
12.3.2.1. Product Details, Specification, Indication
12.3.3. Revenue, Price, and Gross Margin (2017 – 2020)
12.3.4. Recent Developments and Strategies
12.4. Omnicare
12.4.1. Company Overview, Business Information, Regional Presence
12.4.2. Phase Portfolio Analysis
12.4.2.1. Product Details, Specification, Indication
12.4.3. Revenue, Price, and Gross Margin (2017 – 2020)
12.4.4. Recent Developments and Strategies
12.5. Kendle
12.5.1. Company Overview, Business Information, Regional Presence
12.5.2. Phase Portfolio Analysis
12.5.2.1. Product Details, Specification, Indication
12.5.3. Revenue, Price, and Gross Margin (2017 – 2020)
12.5.4. Recent Developments and Strategies
12.6. Chiltern
12.6.1. Company Overview, Business Information, Regional Presence
12.6.2. Phase Portfolio Analysis
12.6.2.1. Product Details, Specification, Indication
12.6.3. Revenue, Price, and Gross Margin (2017 – 2020)
12.6.4. Recent Developments and Strategies
12.7. Pharmaceutical Product Development, LLC
12.7.1. Company Overview, Business Information, Regional Presence
12.7.2. Phase Portfolio Analysis
12.7.2.1. Product Details, Specification, Indication
12.7.3. Revenue, Price, and Gross Margin (2017 – 2020)
12.7.4. Recent Developments and Strategies
12.8. Company 8
12.8.1. Company Overview, Business Information, Regional Presence
12.8.2. Phase Portfolio Analysis
12.8.2.1. Product Details, Specification, Indication
12.8.3. Revenue, Price, and Gross Margin (2017 – 2020)
12.8.4. Recent Developments and Strategies
12.9. Company 9
12.9.1. Company Overview, Business Information, Regional Presence
12.9.2. Phase Portfolio Analysis
12.9.2.1. Product Details, Specification, Indication
12.9.3. Revenue, Price, and Gross Margin (2017 – 2020)
12.9.4. Recent Developments and Strategies
12.10. Company 10
12.10.1. Company Overview, Business Information, Regional Presence
12.10.2. Phase Portfolio Analysis
12.10.2.1. Product Details, Specification, Indication
12.10.3. Revenue, Price, and Gross Margin (2017 – 2020)
12.10.4. Recent Developments and Strategies

Chapter 13. Appendix

13.1. About Us
13.2. Glossary of Terms

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Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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