Pune, India, April 12, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, that growing need for effective medications and treatments coupled with technological advancements in this domain have aided the expansion of North America clinical trials market in the recent years.
The research literature highlights historic as well as current statistics to deliver reliable projections concerning growth rate, revenue, sales, and other critical metrics. A comprehensive segmental analysis is provided to render a clear view of the overall size and scope of the business sphere. Further, the document encompasses a competitive landscape section to lend businesses and new entrants a competitive edge when venturing deeper into the market.
Factors such as a favorable regulatory landscape that encourages outsourcing clinical trials, rising funding, and availability of skilled professionals in the region are likely to have a positive impact on the industry’s growth trajectory in the upcoming years.
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However, strict regulations in terms of patient enrollment may threaten this growth spurt over the forecast period.
Covid-19 impact outlook:
The pandemic has expedited the market growth as the demand for effective treatments, personalized medicine, and orphan drugs are surging across the U.S. and Canada. This has augmented R&D expenditure in the region.
Segmental analysis overview: -
Considering phases, North America clinical trials industry from phase 3 clinical trials segment is slated to capture considerable market share during the evaluation period. This can be ascribed to increasing focus on assessing the comparative effects of new treatments with existing ones. The complexity and the requirement for a wider patient pool for studying the effects of new treatments as compared to phase I and phase II trial is further pushing the outsourcing demand of phase III trials.
With regards to therapeutic area, the cardiology segment is anticipated to garner a valuation of USD 2.6 billion by 2027 owing to increase in R&D activities to facilitate treatments for a variety of heart conditions such as lipid disorders, heart failure, stroke and vascular diseases.
Meanwhile, the onset of the COVID-19 pandemic has been favorable for the growth of the infectious diseases segment considering the emergence of novel antiviral treatments for various ailment including coronavirus.
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Competitive Landscape Summary: -
Iqvia Holdings Inc., Apex Medical Research Inc., Wuxi AppTec Co. Ltd., Charles River Laboratories International Inc., Parexel International Corporation, Bioclinica, Medspace Holdings, Inc., PRA Medical Sciences, Pharmaceutical Product Development Inc., Laboratory Corporation of America Holdings Inc., and Icon plc are the major players influencing North America clinical trials market trends.
These companies are directing continuous efforts towards expanding their business through strategic undertakings like mergers, acquisitions, partnerships, and R&D investments. For instance, in November 2021, Diamond Therapeutics Inc, a Toronto based drug development enterprise got approval from Health Canada to hold a trial for evaluating the safety of low-dose non-hallucinogenic psilocybin drug against healthy participants. The firm believes that the drug will be beneficial in treating psychiatric disorders including anxiety and depression.
North America Clinical Trials Market, by Phases (Value, USD million, 2016-2027)
- Phase I
- Phase II
- Phase III
- Phase IV
North America Clinical Trials Market, by Study Design (Value, USD million, 2016-2027)
- Expanded Access Study
- Observational Study
- Interventional Study
North America Clinical Trials Market, by Therapeutic Area (Value, USD million 2016-2027)
- Oncology
- Cardiology
- Ophthalmology
- Dermatology
- Autoimmune Diseases
- Infectious Diseases
- Others
North America Clinical Trials Market, by Country (Value, USD million, 2016-2027)
- Canada
- United States
North America Clinical Trials Market, by Company Profiles (Value USD million, 2016-2027)
- Iqvia Holdings Inc.
- Apex Medical Research Inc.
- Wuxi AppTec Co. Ltd.
- Charles River Laboratories International Inc.
- Parexel International Corporation
- Bioclinica
- Medspace Holdings, Inc.
- PRA Medical Sciences
- Pharmaceutical Product Development, Inc.
- Laboratory Corporation of America Holdings, Inc.
- Icon plc
Table of Content:
Chapter 1. Methodology
1.1. Definition and forecast parameters
1.1.1. Definitions
1.1.2. Methodology and forecast parameters
1.2. Data sources
1.3. References & sources
1.3.1. Secondary
1.3.2. Primary
Chapter 2. Executive Summary
2.1. North America clinical trials industry summary, 2016 - 2027
2.1.1. Country trends
2.1.2. Phases trends
2.1.3. Study design trends
2.1.4. Therapeutic area trends
Chapter 3. Industry Insights
3.1. Industry segmentation
3.2. Industry outlook, 2016 - 2027
3.3. Major factor analysis
3.3.1. Drivers
3.3.1.1. Rise in government funding for clinical trials
3.3.1.2. Growing demand for outsourcing clinical trials to CROs
3.3.1.3. Increasing R&D expenditure
3.3.2. Industry pitfall and challenges
3.3.2.1. Stringent regulatory policies for patient enrollment
3.4. COVID-19 impact analysis
3.5. Porter's analysis
3.6. Competitive review, 2020
3.7. PEST analysis
Chapter 4. North America Clinical Trials Market, By Phases
4.1. Key trends in North America clinical trials market, by phases
4.2. Phase I
4.2.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.3. Phase II
4.3.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.4. Phase III
4.4.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
4.5. Phase IV
4.5.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
Chapter 5. North America Clinical Trials Market, By Study Design
5.1. Key trends in North America clinical trials market, by study design
5.2. Interventional study
5.2.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
5.3. Observational study
5.3.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
5.4. Expanded access study
5.4.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
Chapter 6. North America Clinical Trials Market, By Therapeutic area
6.1. Key trends in North America clinical trials market, by therapeutic area
6.2. Autoimmune disease
6.2.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
6.3. Oncology
6.3.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
6.4. Cardiology
6.4.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
6.5. Infectious disease
6.5.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
6.6. Dermatology
6.6.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
6.7. Ophthalmology
6.7.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
6.8. Others
6.8.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
Chapter 7. North America Clinical Trials Market, By Country
Related Report:
Clinical Trials Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
The clinical trials market size is projected to gain massive momentum in the decades to come owing to rising prevalence of chronic diseases, growing FDA regulations, and ongoing efforts towards discovering new treatments for various diseases. Clinical trials are a kind of research that thoroughly studies novel tests as well as treatments to evaluate their effects on the human health results. These studies are usually performed to find more better ways to stop, screen for, treat or diagnose a disease. These trials might also exhibit which medical approaches might work best for certain group of people or illnesses. Clinical trials are also known to produce top-quality data for healthcare decision making. From a regional frame of reference, in 2020, the Latin America clinical trials market accounted a market share of more than 3.8% and will exhibit a promising growth rate during the study period.
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