Dublin, Sept. 21, 2021 (GLOBE NEWSWIRE) -- The "Global Clinical Trials Support Services Market Size, Share & Trends Analysis Report by Phase, by Service (IRB, Clinical Trial Site Management, Data Management, Patient Recruitment Management), by Sponsor, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global clinical trials support services market size is anticipated to reach USD 35.2 billion by 2028, expanding at a CAGR of 7.3%
The factors driving market growth include rising demand for drug development that necessitates clinical trials and an increase in the number of CROs.
In the U.S., the biopharmaceutical sector contributes to around 90% of total spending on clinical trials for drugs and equipment. A clinical trial's costs include data management, patient recruiting, site recruitment, and clinical procedure expenditures. Pharmaceutical firms have been gradually expanding their R&D investment in recent years. This was mostly due to a patent cliff in 2012, which resulted from several patent expirations.
The outbreak of COVID-19 is further expected to enhance demand for clinical trial support services throughout the forecast period. The majority of enterprises and businesses across the world are under threat from the rapidly developing risk caused by the spread of the COVID-19 disease.
The current pandemic represents a serious threat to the wellbeing of the whole population. A key to effectively fighting COVID-19 lies in clinical research. The current situation across the globe and the need to think of treatment options have additionally prompted the most optimized plan to led clinical trials.
Clinical Trials Support Services Market Report Highlights
- The phase III segment dominated the market with a revenue share of over 53% in 2020. This growth is attributed to the fact that phase III clinical trials are the most expensive ones and involve huge subjects
- The clinical trial site management service segment accounted for the maximum revenue share in 2020. Clinical trial site management services for managing offshore operations have seen tremendous expansion as a result of the trend of clinical trial outsourcing
- The pharmaceutical & biopharmaceutical companies sponsor segment led the market in 2020. The biopharmaceutical industry accounts for around 90% of total spending on clinical trials for medicines and equipment in the U.S.
- North America is set to lead the global market during the forecast years due to the increasing R&D spending, rising demand for medication development, strong governmental efforts, and current projects
Key Topics Covered:
Chapter 1 Report Scope
Chapter 2 Methodology
Chapter 3 Objectives
3.1 Objective - 1: Understanding the market dynamics
3.2 Objective - 2: Understanding the market estimates and forecasts
3.3 Objective - 3: Understanding the attributes such as strategy framework, competitor categorization
3.4 Objective - 4: Understanding the key service and application scopes to conclude on the market size.
Chapter 4 Executive Summary
4.1 Market Outlook
4.2 Segment Outlook
4.3 Competitive Insights
Chapter 5 Clinical Trials Support Services Market: Variables, Trends & Scope
5.1 Market Lineage Outlook
5.1.1 Parent Market Outlook
5.1.2 Ancillary Market Outlook
5.2 Penetration & Growth Prospect Mapping
5.3 Market Variable Analysis
5.3.1 Market Driver Analysis
5.3.1.1 Increasing Number Of Cros Providing Services
5.3.1.2 Rising Demand For Clinical Trials In The Emerging Markets
5.3.1.3 High R&D Spending Of Pharmaceutical & Biotechnology Companies
5.3.2 Market Restraint Analysis
5.3.2.1 The Absence Of Medical Infrastructure And Hi-Tech Instruments
5.3.2.2 Lack Of Adequate Regulatory Framework For Conducting Clinical Trials In Some Countries
5.4 Clinical Trials Support Services Market: Analysis Tools
5.4.1 Porter's Five Forces Analysis
5.4.2 Pestel Analysis
5.4.3 Major Deals & Strategic Alliances Analysis
Chapter 6 Clinical Trials Support Services Market: Phase Segment Analysis
6.1 Clinical Trials Support Services Market: Definition & Scope
6.2 Clinical Trials Support Services Market: Market Share Analysis, 2020 & 2028
6.3 Phase I
6.4 Phase II
6.5 Phase III
6.6 Phase IV
Chapter 7 Clinical Trials Support Services Market: Service Segment Analysis
7.1 Market: Definition & Scope
7.2 Market: Market Share Analysis, 2020 & 2028
7.3 Clinical Trial Site Management
7.4 Patient Recruitment Management
7.5 Data Management
7.6 Administrative Staff
7.7 IRB
Chapter 8 Clinical Trials Support Services Market: Sponsor Segment Analysis
8.1 Market: Definition & Scope
8.2 Market: Market Share Analysis, 2020 & 2028
8.3 Pharmaceutical & Biopharmaceutical Companies
8.4 Medical Device Companies
Chapter 9 Clinical Trials Support Services Market: Regional Analysis
9.1 Market: Definition & Scope
9.2 Regional Market Snapshot
9.3 Market: Market Share Analysis, 2020 & 2028
Chapter 10 Company Profiles
- Charles River Laboratories Intl Inc
- WuXi AppTec
- IQVIA
- Insight Genetics
- Eurofins Scientific SE
- The Pharmaceutical Product Development LLC
- Icon PLC
- Laboratory Corp. of America Holdings
- ALcura
- Parexel International
For more information about this report visit https://www.researchandmarkets.com/r/rt9rno
