Pune, June 08, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, a global Healthcare market research firm, has published a competitive intelligence and market research report on “Clinical Trials Market“. The Clinical Trials market size was valued at USD 48.7 Bn in 2022. The total Clinical Trials Market revenue is expected to grow at a CAGR of 6.1 percent from 2022 to 2029, reaching USD 78.3 Bn during the forecast period.
| Market Size in 2022 | USD 48.7 Bn |
| Market Size in 2029 | USD 78.3 Bn |
| CAGR | 6.1 percent (2022-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 266 |
| No. of Tables | 126 |
| No. of Charts and Figures | 112 |
| Segment Covered | By Phase, Service Type, Therapy, and Application |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Clinical Trials Market Scope and Research Methodology
The Clinical Trials Market report includes the market size and growth rate along with a thorough regional analysis, competitive landscape and segment-wise analysis of the industry. Key insights provided by the report include the major drivers of the Clinical Trials Market, the challenges faced by the market participants and growth prospects in the Clinical Trials industry across the globe.
Regional analysis of the Clinical Trials market is conducted at country, regional and global level. The analysis helps clients gain insights into the market penetration by region along with factors affecting the Clinical trials market growth. Segment-wise analysis of the Clinical Trials Market is conducted by Phase, Service Type, Therapy, and Application.
Data for the analysis was collected using primary and secondary research methods for the Clinical Trials Market report. The report is equipped with a competitive analysis of the Clinical Trials Market players. Tools such as SWOT, PESTLE and Porter’s Five Force analysis were used for analysing the Clinical Trials Market.
Clinical Trials Market Overview
Clinical trials include tests and treatments and evaluate the effect of treatments on human health. The clinical trial is done on therapies, vaccines, or diagnostic procedures for new therapies. Clinical trials include treatment, tests, procedures, medications and doses as a trial to analyse the time of study. Increase in demand for clinical trials by the healthcare sector is expected to boost the Clinical Trials market growth.
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Adoption of new technologies in the healthcare sector to boost the Clinical Trials Market growth
Digitization in biomedical research that helps in meeting the stringent regulations to maintain the patient data records with the adoption of new technologies is expected to boost the market growth. Software such as electronic clinical outcome assessment is used in clinical trials. Patients are shifting towards personalized medicines with its positive effect, which is significantly contributing to the market growth. Clinical trial process is carried on thousands of patients with a focus on the effect of drugs on patients for a specific time period. Use of pharmacogenetics to increase the number of drugs passing all phases of the trials in the process is expected to boost the Clinical Trials Market growth. Increase in the number of clinical collaborations in biomedical research will further boost the market growth over the forecast period. Lack of skilled professionals in the field of research and high cost of study trials is expected to restrain the market growth.
North America region to boost the Clinical Trials market growth over the forecast period
The North America region dominated the market in 2022 and is expected to continue the dominance over the forecast period. Huge investment in research and development activities in the healthcare sector is expected to boost the market growth. There is availability of excellent infrastructure for clinical trials in the region. Implementations of virtual services in the phases of clinical trials by the key players in the market is expected to influence the regional Clinical Trials market growth. Government support in the US for the process of clinical trials is contributing to the market growth.
Asia pacific region is expected to dominate the Clinical trials market over the forecast period. Availability of a large patient pool that allows easy recruitment is expected to boost the regional market growth.
Clinical Trials Market Segmentation
By Phase:
- Phase I
- Phase II
- Phase III
- Phase IV
Based on Phase, the market is segmented based on Phase I, Phase II, Phase III, and Phase IV. Phase III segment held the largest market share in 2022 and is expected to dominate the market over the forecast period. Phase III requires more patients, which is having a longer treatment period and is expected to boost the market growth. Phase II segment is expected to dominate the market over the forecast period, which specially includes oncology-related studies.
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By Service Type:
- Protocol Designing
- Site Identification
- Patient Recruitment
- Laboratory Services
- Bioanalytical Testing Services
- Analytical Testing Services
- Clinical Trials Supply & Logistic Services
- Decentralized Clinical Services
- Clinical Trial Management Services
- Medical Device Testing Services
- Other clinical trial services
Based on Service Type, the Laboratory Services segment dominated the market in 2022 and is expected to continue the dominance over the forecast period. During the phases of Clinical trials laboratory services are adopted. The quality and efficiency of the product is determined through various testing required in the laboratory services. Clinical Trials Supply & Logistic Services is expected to boost the market growth over the forecast period.
By Therapy:
- Oncology
- Infectious Diseases
- Cardiology
- Neurology
- Women’s Health
- Genetic Diseases
- Immunology
- Other Therapy Area’s
Based on Therapy, the market is segmented into Oncology, Infectious Diseases, Cardiology, Neurology, Women’s Health, Genetic Diseases, Immunology, and Other Therapy Area’s. Oncology segment held the largest market share in 2022 and is expected to dominate the market over the forecast period. High spending by pharma companies for the development of oncology therapy products is expected to boost the market growth.
By Application:
- Vaccine
- Cell & Gene Therapy
- Small Molecules
- Other Applications
Clinical Trials Market Key Players include
- IQVIA
- Clario
- Clinipace
- aboratory Corporation of America
- Eli Lilly and Company
- ICON PLC
- Novo Nordisk AS
- PAREXEL International Corporation
- Pfizer Inc.
- Pharmaceutical Product Development LLC
- Hoffmann-La Roche Ltd
- Sanofi SA
- Syneos Health
- ClinDatrix Inc
- Charles River Laboratories
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Key questions answered in the Clinical Trials Market are:
- What are Clinical Trials?
- What was the Clinical Trials market size in 2022?
- What is the expected Fibre Batteries market size by 2029?
- What is the growth rate of the Fibre Batteries Market?
- Which are the factors expected to drive the Fibre Batteries market growth?
- Which segment dominated the Fibre Batteries market growth?
- What is the demand pattern for the Fibre Batteries market?
- Which region held the largest share in the Fibre Batteries market?
- Who are the key players in the Fibre Batteries market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Phase, Service Type, Therapy, and Application
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Healthcare research firm, has also published the following reports:
Neurology Clinical Trials Market: The total market size was valued at USD 5.53 Bn in 2022 and the total revenue is expected to grow by 6.5 percent from 2023 to 2029, reaching USD 8.60 Bn. High Incidence of nerve injuries and growing frequency of neurological illnesses is expected to boost the market growth.
Clinical Trial Supply and Logistic Market: The total market size was valued at USD 19.06 Bn in 2021 and the total revenue is expected to grow at CAGR 9.10 percent through 2022 to 2029, reaching USD 38.25 Bn. Rising research and development for drugs is expected to boost the market growth.
Clinical Diagnostics Market: The total market size was valued at USD 74.5 Bn in 2022 and the total revenue is expected to grow by 6.5 percent from 2023 to 2029, reaching USD 115.8 Bn. Growing demand for disease detection and increasing use of point-of-care diagnostic products is expected to boost the market growth.
Preclinical CRO Market: The total market size is expected to grow at a CAGR of 8.06 percent during the forecast period and is expected to reach USD 10.59 Bn by 2029. The need for preclinical contract research organization (CRO) services is expected to boost the market growth.
Clinical Trial Packaging Market: The total market size is expected to reach USD 2.08 Bn at a CAGR of 7 percent during the forecast period 2029. The increasing importance of proper packaging techniques to preserve the quality of the medicines is expected to boost the market growth.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
