Clinical Trials Market

Clinical Trials Market by Phases (Phase I, Phase II, Phase III, and Phase IV), Designs (Treatment Studies [Randomized Control Trial, Adaptive Clinical Trial, and Non-randomized Control Trial] and Observational Studies [Cohort Study, Case Control Study, Cross Sectional Study, and Ecological Study]), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: HC-1624
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 155
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The global clinical trials market size was valued USD 38 Billion in 2020 and is anticipated to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising focus on developing new therapeutics for rare or genetic disorders that require specialization and focused clinical trials.

Clinical Trials Market Key Takeaways

Clinical trials are studies that are conducted under clinical research and follow a regulated protocol. It is basically the research studies performed on people for evaluating a medical, surgical, or behavioral intervention. Clinical trials are primarily performed to obtain data regarding the safety and efficacy of newly developed drugs. Clinical trial data is mandatory for drug approval and are also used to understand the effectiveness of a new treatment. These trials are used to detect a disease in its early stages and may also test the effectiveness of methods for improving the physical condition of people suffering from a life-threatening disease or a chronic health problem. Depending on the preliminary results, the food and drug administration (FDA) may approve for the intervention to be tested in humans.

Clinical trials possess four phases. A Phase I trial experiment involves treatment on a small group of 20-80 majorly healthy to evaluate its safety and side effects. A Phase II trial is performed between 100 to 300 participants to evaluate effectiveness, safety, and side effects of drug. This phase aims to obtain data on the efficacy of the drug in people, while a Phase III trial studies the effect of the drug with different races, levels of dosages, and in combination with other drugs on thousands of subjects. A Phase IV trial for drugs or devices takes place after the FDA approval. A device or drug is administered on large amd diverse subject with the purpose of studying its effectiveness and safety.

Market Trends, Drivers, Restraints, and Opportunities

  • High demand for clinical trials in emerging economies is anticipated to boost the market growth during the forecast period.
  • Increasing prevalence of diseases and rising focus on rare disease treatment are projected to drive the market expansion in the coming years.
  • Increasing studies on multiple orphan drugs is estimated to spur the market expansion.
  • Rising demand for development of new drugs is one of the major factors pushing the market growth.
  •  Ongoing advancements in the healthcare and growing patented new chemical entities (NCE) for various health conditions are anticipated to propel the market expansion.
  • Government initiatives to encourage small pharmaceutical players to enter the drug development process are driving the growth of the market.
  • Stringent regulations in the emerging markets are hindering the market growth during the forecast period.
  • High cost and time consuming clinical trials process are expected to restrict the market expansion.
  • Increasing R&D investment in the pharmaceutical industry to offer immense opportunities for the market growth during the forecast period.

Scope of the Report

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

Attributes

Details

Report Title

Clinical Trials Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Phases (Phase I, Phase II, Phase III, and Phase IV), Designs (Treatment Studies [Randomized Control Trial, Adaptive Clinical Trial, and Non-randomized Control Trial], and Observational Studies [Cohort Study, Case Control Study, Cross Sectional Study, and Ecological Study])

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Clinipace, Laboratory Corporation of America, ICON PLC, Eli Lilly and Company, and Novo Nordisk AS

Clinical Trials Market Segment Insights

Phase III segment to constitute a large market share

Based on phases, the market is segmented into Phase I, Phase II, Phase III, and Phase IV. The phase III segment is expected to account for a key market share during the forecast period. This phase evaluates the comparative effect of the new medication over the previous medications as well as it is conducted to confirm and expand on safety and effectiveness results from Phase I and II trials. Phase III clinical trials are highly outsourced than Phase II and Phase I trials, spurring the market segment growth.

Clinical Trials Market By Phases

Treatment studies segment to register at a high CAGR

On the basis of designs, the market is bifurcated into treatment studies and observational studies. The treatment studies segment is further segmented into randomized control trial, adaptive clinical trial, and non-randomized control trial. On the other hand, the observational studies segment is divided into cohort study, case control study, cross sectional study, and ecological study. The treatment studies segment is projected to register a high CAGR during the forecast period due to large number of studies conducted on autoimmune/inflammation.

North America to dominate the market

In terms of regions, the market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period. The regional market growth can be attributed to owing to the presence of huge number of outsourcing firms. In the US, pharmaceutical companies are spending more money, time, and energy on R&D than most organizations, driving the market growth in the region.

Clinical Trials Market By Regions

Segments

Segments Covered in the Report
The global 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
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Clinipace
  • Laboratory Corporation of America
  • ICON PLC
  • Eli Lilly and Company
  • Novo Nordisk AS

Competitive Landscape

Key players competing in the clinical trials market include Clinipace, Laboratory Corporation of America, ICON PLC, Eli Lilly and Company, and Novo Nordisk AS.

Clinical Trials Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Clinical Trials Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Clinical Trials Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Clinical Trials Market - Supply Chain
  4.5. Global Clinical Trials Market Forecast
     4.5.1. Clinical Trials Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Clinical Trials Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Clinical Trials Market Absolute $ Opportunity
5. Global Clinical Trials Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Clinical Trials Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Clinical Trials Demand Share Forecast, 2019-2026
6. North America Clinical Trials Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Clinical Trials Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Clinical Trials Demand Share Forecast, 2019-2026
7. Latin America Clinical Trials Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Clinical Trials Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Clinical Trials Demand Share Forecast, 2019-2026
8. Europe Clinical Trials Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Clinical Trials Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Clinical Trials Demand Share Forecast, 2019-2026
9. Asia Pacific Clinical Trials Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Clinical Trials Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Clinical Trials Demand Share Forecast, 2019-2026
10. Middle East & Africa Clinical Trials Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Clinical Trials Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Clinical Trials Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Clinical Trials Market: Market Share Analysis
  11.2. Clinical Trials Distributors and Customers
  11.3. Clinical Trials Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Clinipace Laboratory Corporation of America ICON PLC Eli Lilly and Company Novo Nordisk AS
Segments Covered in the Report
The global 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
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Clinipace
  • Laboratory Corporation of America
  • ICON PLC
  • Eli Lilly and Company
  • Novo Nordisk AS

Key players competing in the clinical trials market include Clinipace, Laboratory Corporation of America, ICON PLC, Eli Lilly and Company, and Novo Nordisk AS.

Clinical Trials Market By Key Players

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