[Latest] Global Clinical Trials Market Size/Share Will Surpass USD 85.01 Billion by 2030 at a 5.93% CAGR: Zion Market Research (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

NEW YORK, United States, May 18, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Clinical Trials Market By Phase (Phase I, Phase II, Phase III, Phase IV) By Study Design (Observational, Interventional, Expanded Access) By Indication (Gastrointestinal, Cardiovascular, Autoimmune/Inflammation, Pain Management, CNS Condition, Cancer, Mental Disorders, Oncology, Diabetes, Obesity, Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Clinical Trials Market size & share in terms of revenue was valued at USD 53.92 billion in 2022 and it is expected to surpass around USD 85.01 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.93% during the forecast period 2023 to 2030.”

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What are Clinical Trials? How big is the Clinical Trials Industry?

Report Overview:

Clinical trials are research studies that evaluate the safety, efficacy, and side effects of new drugs, medical devices, and treatments. These trials are essential to advance medical knowledge, develop new therapies, and improve patient care. Clinical trials involve three main phases, with each phase designed to answer specific questions about the drug or treatment being tested. Phase I trials evaluate safety and dosage, phase II assesses the efficacy and side effects, and phase III compares the treatment to existing therapies.

Clinical trials require the participation of volunteers, who are carefully screened and monitored throughout the trial.

Participants are required to provide informed consent and can withdraw from the trial at any time. Clinical trials are conducted under strict regulatory oversight and ethical guidelines to ensure patient safety and data integrity.

Our Free Sample Report Consists of the Following:

• Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
• About 215+ Pages Research Report (Including Recent Research)
• Provide detailed chapter-by-chapter guidance on Request
• Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
• Includes Tables and figures have been updated
• The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
• Zion Market Research Methodology

Global Clinical Trials Market Dynamics:

The global clinical trials market is predicted to surge exponentially due to the increasing prevalence of chronic and infectious diseases, demand for personalized medicine, advancements in technology, and rising investment by pharmaceutical & biotechnology companies. However, the market also faces several restraints, including the high cost of conducting trials, complex regulatory requirements, and the shortage of skilled professionals.

The COVID-19 pandemic has also disrupted clinical trials, leading to delays and cancellations. Nonetheless, the clinical trials industry presents several opportunities for growth, including the increasing focus on precision medicine, the emergence of real-world evidence & patient-generated health data, and collaborations between pharmaceutical companies, CROs, & academic institutions. These factors are predicted to create remunerative opportunities for the growth of the industry.

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Report Scope

Clinical Trials Market: Segmentation Analysis

The global clinical trials market is segmented based on phase, study design, indication, and region.

Based on phase, the market bifurcated into Phase I, Phase II, Phase III, and Phase IV. The Phase III segment held the largest market share in 2022 and is further predicted to grow rapidly at a notable CAGR during the forecast period. The main reason for the growth of this segment is its critical role in drug development. Phase III trials are designed to compare the safety and efficacy of new treatments to existing therapies, providing important data for regulatory approval and market access. The increasing prevalence of chronic and infectious diseases and demand for personalized medicine is driving the need for new and innovative treatments, leading to a surge in Phase III trials. Moreover, the emergence of real-world evidence and patient-generated health data is expected to transform the Phase III landscape, enabling more efficient and effective trials.

Based on study design, the clinical trials industry is bifurcated into observational, interventional, and expanded access. The interventional design segment held the dominating market share in 2022 and is further projected to grow rapidly at a significant CAGR during the forecast period.

The interventional design segment of the clinical trials market is expected to experience significant growth due to the increasing demand for innovative and effective treatments. Interventional trials involve the use of a new treatment or drug and are designed to evaluate its safety, efficacy, and side effects. These trials play a crucial role in the development of new therapies and are essential for gaining regulatory approval and market access. The rising prevalence of chronic & infectious diseases and demand for personalized medicine is driving the need for new and innovative treatments, leading to a surge in interventional trials. Moreover, advancements in technology and data analytics are expected to transform interventional trial design, making them more efficient and effective.

Based on indication, the market is segmented into gastrointestinal, cardiovascular, autoimmune/inflammation, pain management, CNS condition, cancer, mental disorders, oncology, diabetes, obesity, and others. The oncology segment held the dominating market share in 2022 and is projected to cite a remarkable CAGR during the forecast period.

The global Clinical Trials market is segmented as follows:

By Phase

• Phase I
• Phase II
• Phase III
• Phase IV

By Study Design

• Observational
• Interventional
• Expanded Access

By Indication

• Gastrointestinal
• Cardiovascular
• Autoimmune/Inflammation
• Pain management
• CNS condition
• Cancer
• Mental disorders
• Oncology
• Diabetes
• Obesity
• Others

To Get More Insights and Forecasts, Visit | Clinical Trials Market By Phase (Phase I, Phase II, Phase III, Phase IV) By Study Design (Observational, Interventional, Expanded Access) By Indication (Gastrointestinal, Cardiovascular, Autoimmune/Inflammation, Pain Management, CNS Condition, Cancer, Mental Disorders, Oncology, Diabetes, Obesity, Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030

Competitive Landscape

Some of the main competitors dominating the global clinical trials market include - 

• IQVIA
• PPD
• Covance
• Parexel International
• Syneos Health
• Charles River Laboratories
• ICON plc
• Medpace
• PRA Health Sciences
• WuXi AppTec
• Chiltern International
• Celerion
• Envigo
• Eurofins Scientific
• Frontage Laboratories
• Laboratory Corporation of America Holdings (LabCorp)
• Novotech Pty Ltd.
• Pharmaron
• Pharmaceutical Product Development LLC (PPD)
• QuintilesIMS (now IQVIA)
• Among Others.

 Key Insights from Primary Research:

• According to the analysis shared by our research analyst, the Clinical Trials market is likely to expand at a CAGR of around 5.93% during the forecast period (2023-2030).          
• In terms of revenue, the Clinical Trials market size was valued at around US$ 53.92 billion in 2022 and is projected to reach US$ 85.01 billion by 2030.
• The clinical trials market is experiencing significant growth due to the increasing prevalence of chronic & infectious diseases, demand for personalized medicine, and advancements in technology.
• Based on phase, the phase 3 segment held the largest market share in 2022.
• Based on study design, the interventional segment held the dominating market share in 2022.
• Based on region, the North American region held the largest market share in 2022.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Clinical Trials industry?
• What are the main driving factors propelling the Clinical Trials Market forward?
• What are the leading companies in the Clinical Trials Industry?
• What segments does the Clinical Trials Market cover?
• How can I receive a free copy of the Clinical Trials Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Phase, By Study Design, By Indication, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The North American region held the dominating clinical trials market share in 2022 and is further predicted to grow at an exponential CAGR during the forecast period. North America is a major player in the clinical trials market, with the United States accounting for the majority of the region's market share.

The growth of the market in North America is driven by several factors, including the increasing prevalence of chronic & infectious diseases, the demand for personalized medicine, and the presence of a well-established pharmaceutical industry. Furthermore, the region has a favorable regulatory environment, with the FDA playing a crucial role in the approval and oversight of clinical trials. The COVID-19 pandemic has also spurred growth in the North American clinical trials market, with a surge in trials for vaccines and treatments. Therefore, the North American clinical trials market is expected to continue growing due to the region's strong healthcare infrastructure, favorable regulatory environment, and increasing demand for innovative treatments.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/clinical-trials-market

Recent Developments

• In October 2021, Novartis announced the completion of its Phase III clinical trial for a new sickle cell disease treatment. The trial showed a significant reduction in the rate of sickle cell-related pain crises compared to the placebo, and the company plans to submit the drug for regulatory approval in 2022.
• In June 2021, AstraZeneca announced positive results from its Phase III clinical trial for a new lung cancer treatment. The trial showed a significant improvement in progression-free survival compared to the placebo, and the company plans to submit the drug for regulatory approval.
• In September 2021, Pfizer and BioNTech announced the completion of a Phase II/III trial for their COVID-19 vaccine in children aged 5 to 11. The trial showed a favorable safety profile and robust antibody responses, and the companies plan to seek regulatory authorization for the vaccine in this age group.

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