Europe Clinical Trials Market

Europe Clinical Trials Market Outlook 2031:

The Europe clinical trials market size was valued at USD 12.90 Billion in 2022 and is projected to reach USD 12.25 Billion by 2031, expanding at a CAGR of 5.7% during the forecast period 2023 - 2031. The growth of the market is attributed to increasing frequency of various diseases all over the world.

Clinical trials are the research and study performed on the people for evaluating the surgical, medical or behavioral intervention. This is the primary way to the researcher to find out new treatment such as new drug or medical devices is safe and effective in people.

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In clinical trials researcher gives new treatment to one group and an inactive product to second group. Then researcher compare which group gives better results. In these medical devices trials also include such as pacemaker and other devices are safe or not for people. The clinical trials data is mandatory for approval of any types of drugs.

The Covid-19 pandemic affected all types of industries all over the world due to lockdown. Lockdown across the globe, supply chain disorders, and lack of raw material which required to clinical trials has been slowdown. For the launching and approval of vaccines on the urgent basis to combat the Covid-19 pandemic is requiring more clinical trials on vaccines is expected to contribute to the market growth over the forecast period.

Europe Clinical Trials Market Trends, Drivers, Restraints, and Opportunities

• The research & development and technological advancement in the medical sector is estimated to drive the Europe clinical trials market during the forecast period.
• Increasing focus on rare diseases and various orphan drugs in pipeline is projected to drive the Europe clinical trials market.
• The different government has encouraged small, medium and large players to enter into the orphan drug development is expected to boost the market during forecast period.
• The cost of the clinical trial increases the prices of the drugs which hampers the Europe clinical trials market.
• Stringent rule and regulation about the clinical trials are hindering the market growth during the forecast period.
• People are curious about health hence, new clinical trial methods developed to reduce cost is fueling the Europe clinical trial market during the forecast period.

Scope of the Europe Clinical Trials Market Report

The report on the Europe clinical trials market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Europe Clinical Trials Market Segment Insights

The phase III segment is anticipated to account for a major market share

Based on the phases, the Europe clinical trials market is divided into phase I, II, III, and IV. The phase III segment is anticipated to account for a major market share during the forecast period. The phase III is the one of the important clinical phases which accessing the effectiveness of the new drug and as well as its value in clinical practice.

A total number of 12,748 studies are currently in phase III trials in European countries, as per the EU Clinical Trial Register. In Phase III the drug and devices treatment has tested on large group of people ranging from the 1000 to 3000 participants. This trial is conducted for conforming and expand safety and effectiveness results from phase I and phase II trials. Also, the trial is used to evaluate overall risk, benefits of the drugs and to compare the drug to standard therapies for the disease and condition being studies.

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The cohort study is projected to expand at a considerable CAGR

On the basis of designs, the market is bifurcated into treatment studies and observational studies. The treatment studies segment is further segregated into randomized control trial, adaptive clinical trial, and non-randomized control trial. The observational studies are further fragmented into cohort study, case control study, cross sectional study, ecological study.

The cohort study is projected to expand at a considerable CAGR during the forecast period because of the data for evaluation is more which increase the safety of drug and their results.

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The United Kingdom is anticipated to constitute a key market share        

In terms of geography, the Europe clinical trials market is classified as Germany, United Kingdom, France, Italy, Spain, and Rest of Europe. The United Kingdom is anticipated to constitute a key market share during the forecast period because of the increasing medical sector in this country.

Segments

The Europe clinical trials market has been segmented on the basis of

Phases

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

Designs

• Treatment Studies
  • Randomized Control Trial
  • Adaptive Clinical Trial
  • Non-randomized Control Trial
• Observational Studies
  • Cohort Study
  • Case Control Study
  • Cross Sectional Study
  • Ecological Study

Geography

• Germany
• United Kingdom
• France
• Italy
• Spain
• Rest of Europe

Key Players

• Eli Lilly and Company
• Pfizer Inc.
• Pharmaceutical Product Development LLC
• Novo Nordisk
• Sanofi

Competitive Landscape

Key players competing in the Europe clinical trials market include Eli Lilly and Company; Pfizer Inc.; Pharmaceutical Product Development LLC; Novo Nordisk; Sanofi.

These key players are constantly implementing several marketing strategies such as merger & acquisitions, capital investments, partnerships, and new product development to sustain industry position in the market. In this pandemic the players are competing to launching vaccines and their clinical trials.