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Global Clinical Trials Market: By Material: Plastic, Glass, Metal, Paper, Corrugated Fibre, Others; By Product: Vials and Ampoules, Syringes, Tubes, Bottles, Others; By Application; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Value Chain Analysis; Competitive Landscape; Industry Events and Developments
Global Clinical Trials Market Outlook
The global clinical trials market attained a value of USD 44.3 billion in 2021. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 5.4% to reach USD 60.7 billion by 2026.
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Increasing Demand for Oncology to Augment the Clinical Trials Industry Growth
Oncology clinical trials are more complex than other therapeutic disciplines since they require advanced treatments for specific malignancies. An oncology trial looks not only into the efficacy and safety of an antibiotic against infection, but also how it can improve the subject's quality of life. Because cancer research is growing at a quick rate, immunotherapy has shifted away from chemotherapy procedures and toward molecularly targeted medicines. The evolution of oncology clinical trials has seen rapid development in available clinical data, as well as a strong and rising pipeline of therapeutic candidates.
North America to Provide Significant Growth Opportunities to the Clinical Trial Industry
Geographically, North America accounts for a dominant share in the industry owing to large investment for outsourcing the big R&D companies. This is mainly due to the major demand for investments in drug development. Due to the rising COVID-19 cases, many big R&D firms have collaborated with government and non-government organisations to manufacture therapeutic drug injections. The United States is one of the largest global manufacturers of clinical trials as they are investing more in R&D development. Meanwhile, the Asia Pacific is expected to witness a robust growth in the forecast period due to the increasing focus of manufacturers to produce vaccines to decrease death risk due to the COVID-19 pandemic.
Clinical Trials: Market Segmentation
Clinical trials are research studies that are used to assess the effectiveness of a medicinal, surgical, or behavioural intervention. They are the primary method by which scientists determine whether a new treatment, such as a new medicine, diet, or medical instrument, is safe and effective in humans. A clinical trial is frequently performed to determine whether a new medication is more effective and has fewer negative side effects.
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By design, the market is divided into:
- Treatment Studies
- Randomised Control Trial
- Adaptive Clinical Trail
- Non- Randomised Control Trial
- Observational Studies
- Cohort Studies
- Case Control Study
- Cross Section Study
- Ecological Study
- Others
The regional markets for clinical trials include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Focus on Therapeutic Drugs Generation to Bolster the Growth of Clinical Trials Industry
The global clinical trial industry is being driven by the increasing demand for the production of therapeutic drugs across the globe. Due to the COVID-19 pandemic, significant changes in the clinical trials industry has shifted the central point of many research and commercial companies to give attention on the development of new therapeutic drugs and vaccines for COVID-19. The industry is also predicted to develop as a result of government initiatives in emerging nations to promote medication discovery and constant technical advances. Over the forecast period, it can be expected that Phase III will grow and become significant as it is one of the most important stages in determining whether or not a new intervention is effective and useful for clinical purposes.
Key Industry Players in the Global Clinical Trials Market
The report presents a detailed analysis of the following key players in the global clinical trials market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- IQVIA
- Parexel International Corporation
- Charles River laboratory
- ICON Plc
- Syneos Health
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Design, Region |
| Breakup by Design | Treatment Studies, Observational Studies |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | IQVIA, PAREXEL International Corporation, Charles River Laboratory, ICON Plc, Syneos Health, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Clinical Trials Market Analysis
8.1 Key Industry Highlights
8.2 Global Clinical Trials Historical Market (2018-2022)
8.3 Global Clinical Trials Market Forecast (2023-2028)
8.4 Global Clinical Trials Market by Design
8.4.1 Treatment Studies
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.1.4 Breakup by Treatment Studies Type
8.4.1.4.1 Randomised Control Trial
8.4.1.4.1.1 Market Share
8.4.1.4.1.2 Historical Trend (2018-2022)
8.4.1.4.1.3 Forecast Trend (2023-2028)
8.4.1.4.2 Adaptive Clinical Trail
8.4.1.4.2.1 Market Share
8.4.1.4.2.2 Historical Trend (2018-2022)
8.4.1.4.2.3 Forecast Trend (2023-2028)
8.4.1.4.3 Non- Randomised Control Trial
8.4.1.4.3.1 Market Share
8.4.1.4.3.2 Historical Trend (2018-2022)
8.4.1.4.3.3 Forecast Trend (2023-2028)
8.4.2 Observational Studies
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Breakup by Observational Studies Type
8.4.2.4.1 Cohort Studies
8.4.2.4.1.1 Market Share
8.4.2.4.1.2 Historical Trend (2018-2022)
8.4.2.4.1.3 Forecast Trend (2023-2028)
8.4.2.4.2 Case Control Study
8.4.2.4.2.1 Market Share
8.4.2.4.2.2 Historical Trend (2018-2022)
8.4.2.4.2.3 Forecast Trend (2023-2028)
8.4.2.4.3 Cross Section Study
8.4.2.4.3.1 Market Share
8.4.2.4.3.2 Historical Trend (2018-2022)
8.4.2.4.3.3 Forecast Trend (2023-2028)
8.4.2.4.4 Ecological Study
8.4.2.4.4.1 Market Share
8.4.2.4.4.2 Historical Trend (2018-2022)
8.4.2.4.4.3 Forecast Trend (2023-2028)
8.4.2.4.5 Others
8.5 Global Clinical Trials Market by Region
8.5.1 Market Share
8.5.1.1 North America
8.5.1.2 Europe
8.5.1.3 Asia Pacific
8.5.1.4 Latin America
8.5.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 IQVIA
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 PAREXEL International Corporation
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Charles River Laboratory
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 ICON Plc
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Syneos Health
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Clinical Trials Market: Key Industry Highlights, 2018 and 2028
2. Global Clinical Trials Historical Market: Breakup by Phase (USD Billion), 2018-2022
3. Global Clinical Trials Market Forecast: Breakup by Phase (USD Billion), 2023-2028
4. Global Clinical Trials Historical Market: Breakup by Study Design (USD Billion), 2018-2022
5. Global Clinical Trials Market Forecast: Breakup by Study Design (USD Billion), 2023-2028
6. Global Clinical Trials Historical Market: Breakup by Indication (USD Billion), 2018-2022
7. Global Clinical Trials Market Forecast: Breakup by Indication (USD Billion), 2023-2028
8. Global Clinical Trials Historical Market: Breakup by Indication by Study Design (USD Billion), 2018-2022
9. Global Clinical Trials Market Forecast: Breakup by Indication by Study Design (USD Billion), 2023-2028
10. Global Clinical Trials Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Clinical Trials Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Clinical Trials Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America Clinical Trials Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe Clinical Trials Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe Clinical Trials Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific Clinical Trials Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific Clinical Trials Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America Clinical Trials Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America Clinical Trials Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Clinical Trials Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa Clinical Trials Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Global Clinical Trials Market Structure
Key Questions Answered in the Report
In 2021, the global clinical trials market attained a value of nearly USD 44.3 billion.
The market is projected to grow at a CAGR of 5.4% between 2023 and 2028.
The industry is primarily being driven by the growing rates of R&D projects for the development of therapeutic drugs, development in technologies, increasing focus of manufacturers to produce vaccines to decrease death risk due to the COVID-19 pandemic, and increasing cancer research.
The key trends driving the market’s expansion are the increasing demand for the production of therapeutic drugs and increasing government initiatives.
The major regions in the industry are North America, Latin America, Europe, Middle East and Africa, and the Asia Pacific with North America accounting for the largest share in the market.
By design, the market is divided into treatment studies and observational studies. Treatment studies are further divided into randomised control trial, adaptive clinical trail and non- andomized control trial while observational studies are segmented into cohort studies, case control study, cross section study, and ecological study, among others.
The major players in the industry are IQVIA, PAREXEL International Corporation, Charles River Laboratory, ICON Plc, and Syneos Health, among others.
Analyst Review
The global clinical trials market attained a value of USD 44.3 billion in 2021, driven by the rising need for therapeutic medications all over the world. Aided by the government initiatives and development in technologies, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 5.4%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its design, the global clinical trials industry can be segmented into treatment studies and observational studies. Treatment studies are further divided into randomised control trial, adaptive clinical trail and non- andomized control trial while observational studies are segmented into cohort studies, case control study, cross section study, and ecological study, among others. The major regional markets for the clinical trials are North America, Latin America, Europe, Middle East and Africa, and Asia Pacific, with North America accounting for the largest share of the market. The key players in the above market include IQVIA, PAREXEL International Corporation, Charles River Laboratory, ICON Plc, and Syneos Health, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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