Dublin, June 28, 2022 (GLOBE NEWSWIRE) -- The "Clinical Trials Market Size, Share & Trends Analysis Report by Phase (Phase I, Phase II, Phase III, Phase IV), by Study Design, by Indication (Pain Management, Oncology, CNS Condition, Diabetes, Obesity), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global clinical trials market size is expected to reach USD 78.3 billion by 2030, registering a CAGR of 5.8%
An increase in the volume and complexity of clinical trials has been witnessed lately, which plays an important role in the R&D of new drugs and products. The market witnessed a decline of 6% in 2020 owing to the COVID-19 pandemic.
However, the market is projected to recover from 2021 onwards. In addition, clinical trials have become increasingly costly, adding to the overall cost of developing a drug.
The increasing need for developing new drugs for chronic diseases, such as cancer, respiratory disorders, diabetes, cardiovascular diseases, and others, is creating immense pressure on the healthcare industry. The COVID-19 pandemic and the increasing demand for developing a suitable treatment are driving the market.
The high number of people affected by the disease further depicts an increasing need for therapeutics & vaccines. Currently, there are 288 therapeutics and 106 vaccines under development, out of which, nearly 7.0% of therapeutics are in Phase IV, 21.0% in Phase III, and 43.0% & 13.0% in Phase II & Phase I, respectively.
The pandemic has resulted in the global disruption of traditional onsite clinical trials. Hence, regulatory bodies worldwide have undertaken various initiatives for fast-tracking clinical trials for the development of innovative solutions.
One such instance is Solidarity, an international clinical trial launched by the WHO to find effective treatment against COVID-19.
Although the pandemic has forced many medical device & drug developers to revise the approach to such crises, integrating best practices within clinical trial procedures & adapting to virtual trials, which can support the continuous development of therapeutics.
Clinical Trials Market Report Highlights
- The phase III clinical trials segment dominated the market with a 53.4% share in 2021. This can be attributed to the complexity of this phase.
- The interventional design segment accounted for the largest share of 45.7% in 2021 in the study design segment owing to the increasing demand for the intervention for clinical trials by researchers.
- North America held 50.7% of the market share in 2021. Favorable government initiatives and the presence of a large number of players in the U.S. that offer advanced services are responsible for market growth.
- The Asia Pacific region is expected to grow at the fastest CAGR of 6.8% over the forecast period owing to the increasing patient pool and cost-efficient services.
Clinical Trials Market-Competitive Analysis
- IQVIA
- PAREXEL International Corporation
- Pharmaceutical Product Development, LLC
- Charles River Laboratory
- ICON Plc
- Wuxi AppTec Inc
- PRA Health Sciences
- SGS SA
- Syneos Health
- Chiltern International Ltd
- Eli Lilly and Company
- Novo Nordisk A/S
- Pfizer
- Clinipace
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Clinical Trials Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Product Pipeline Analysis, by Stage
3.3.1. Therapeutics in Development
3.3.2. Vaccines in Development
3.4. Fast-Track of Clinical Trials
3.4.1. FDA Initiative-CTPA
3.4.2. U.K. Initiative-ACCORD
3.4.3. ASIA Pacific Initiative-DCGI
3.4.4. University of Pittsburgh School of Medicine-UPMC
3.5. Solidarity Clinical Trials
3.5.1. Participation in Solidarity Trials
3.5.2. Solidarity Clinical Trial for Vaccines
3.6. Virtual Clinical Trials
3.6.1. In-Home Clinical Services
3.7. COVID-19 Impact on Clinical Trials
3.7.1. Companies with Phase 1 Trial Disruption
3.7.2. Companies with Phase 2 Trial Disruption
3.7.3. Companies with Phase 3 Trial Disruption
3.8. Market Dynamics
3.8.1. Market Driver Analysis
3.8.1.1. Increasing Research and Development Promoting Outsourcing
3.8.1.2. Adoption of New Technology in Clinical Research
3.8.1.3. Increasing Prevalence of Chronic Disease
3.8.1.4. Globalization of Clinical Trials
3.8.2. Market Restraint Analysis
3.8.2.1. Stringent Regulatory Policies for Patient Enrollment
3.8.2.2. Lack of Skilled Workforce in Clinical Research
3.8.3. Industry Challenges
3.8.3.1. Rising Cost of Clinical Trial
3.9. Clinical Trials: Market Analysis Tools
3.9.1. Industry Analysis-Porter's
3.9.1.1. Supplier Power
3.9.1.2. Buyer Power
3.9.1.3. Substitution Threat
3.9.1.4. Threat from New Entrant
3.9.1.5. Competitive Rivalry
3.9.2. PESTEL Analysis
3.9.2.1. Political Landscape
3.9.2.2. Environmental Landscape
3.9.2.3. Social Landscape
3.9.2.4. Technology Landscape
3.9.2.5. Legal Landscape
3.9.3. Major Deals & Strategic Alliances Analysis
Chapter 4. Clinical Trials Market: Segment Analysis, by Phase, 2017-2030 (USD Million)
4.1. Definitions & Scope
4.2. Phase Market Share Analysis, 2021 & 2030
4.3. Segment Dashboard
4.4. Global Clinical Trials Market, by Phase, 2017 to 2030
4.5. Market Size & Forecasts and Trend Analyses, 2017 to 2030 for the Following
4.5.1. Phase I
4.5.2. Phase II
4.5.3. Phase III
4.5.4. Phase IV
Chapter 5. Clinical Trials Market: Segment Analysis, by Study Design, 2017-2030 (USD Million)
5.1. Definitions & Scope
5.2. Study Design Market Share Analysis, 2021 & 2030
5.3. Segment Dashboard
5.4. Global Clinical Trials Market, by Study Design, 2017 to 2030
5.5. Market Size & Forecasts and Trend Analyses, 2017 to 2030 for the following
5.5.1. Interventional
5.5.2. Observational
5.5.3. Expanded Access
Chapter 6. Clinical Trials Market: Segment Analysis, by Indication, 2017-2030 (USD Million)
6.1. Definitions & Scope
6.2. Indication Market Share Analysis, 2021 & 2030
6.3. Segment Dashboard
6.4. Global Clinical Trials Market, by Indication, 2017 to 2030
6.5. Market Size & Forecasts and Trend Analyses, 2017 to 2030 for the following
6.5.1. Autoimmune/Inflammation
6.5.2. Pain Management
6.5.3. Oncology
6.5.4. CNS Condition
6.5.5. Diabetes
6.5.6. Obesity
6.5.7. Cardiovascular
6.5.8. Others
Chapter 7. Clinical Trials Market: Segment Analysis, Indication by Study Design, 2017-2030 (USD Million)
7.1. Market Size & Forecasts and Trend Analyses, 2017 to 2030 for the following
7.1.1. Autoimmune/inflammation
7.1.1.1. Interventional
7.1.1.2. Observational
7.1.1.3. Expanded Access
7.1.2. Pain Management
7.1.3. Oncology
7.1.4. CNS condition
7.1.5. Diabetes
7.1.6. Obesity
7.1.7. Cardiovascular
Chapter 8. Clinical Trials Market: Segment Analysis, by Sponsor, 2017-2030 (USD Million)
8.1. Market Size & Forecasts and Trend Analyses, 2017 to 2030 for the Following
8.1.1. Pharmaceutical & Biopharmaceutical Companies
8.1.2. Medical Device Companies
8.1.3. Others
Chapter 9. Clinical Trials Market: Regional Market Analysis, by Region, 2017-2030 (USD Million)
9.1. Definitions & Scope
9.2. Regional Market Share Analysis, 2021 & 2030
9.3. Regional Market Dashboard
9.4. Regional Market Share, 2020
9.5. Market Size, & Forecasts, and Trend Analysis, 2017 to 2030
Chapter 10. Clinical Trials Market-Competitive Analysis
For more information about this report visit https://www.researchandmarkets.com/r/37j5vd
Attachment
