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Clinical Trials Market Growth & Trends, 2028 | Industry Report

Clinical Trials Market Analysis Report By Phase, By Study Design, By Indication, By Region And Segment Forecasts From 2021 To 2028

Report ID: MN17620272  |  Published: September 2021  |  No of Pages: 120
Format: Electronic (PDF)  |  Industry: Healthcare IT  |  Publisher: Grand View Research

Synopsis

The global clinical trials market was prized by USD 44.3 billion in 2020. It is estimated to witness 5.7% CAGR from 2021 to 2028.

Drivers

The growing commonness of chronic illnesses along with the rising demand for the clinical trials in emergent nations is the factors, furthermore powering the enlargement of the market.

Moreover, the market for clinical trials is propelled by demand for highly developed technologies, the necessity for custom-made medication along with orphan drugs and an increasing figure of biologics.

us-clinical-trials-market

Growing demand for CROs in support of performing clinical trials in the pharmaceutical division because of the expanded proficiency of CROs and the acceptance of superior technologies in clinical trials is encouraging the expansion of the market.

The present global situation along with the necessity to appear with the alternative treatments has furthermore produced the quick roadway for the clinical trials. The encouraging support by the government is increasing the expansion of the clinical trials market. Besides, digital revolution in biomedical research is adding to the expansion of the market.

Effect of Covid-19

As a result of the eruption of Covid-19 pandemic, the expansion of the market was stalled in 2020. However, because of the factors, for example increasing demand for CROs to carry out research actions, globalization of clinical trials, and speedy advancement of the technology, the prospect looks hopeful for the market.

Indication by Study Design Insight

The interventional trials for autoimmune/inflammation held the major, 82.1% revenue share of the clinical trials market, in 2020. The greater share can be credited to a big amount of interventional examinations, performed on autoimmune/inflammation through the world.

In 2020, the observational trials intended for autoimmune/inflammation held the subsequent leading revenue share of the market. Beyond the entire autoimmune/inflammation scrutiny scheduled on clinicaltrials.gov, above 2,000 are observational.

The expanded access comprised the lowly share for autoimmune/inflammation, in 2020. There are below 40 expanded access revisions from 2020 for autoimmune/inflammation.

Study Design Insight

The interventional design section held the major, 82.1% revenue share and dominated the clinical trials market, in 2020. It is one of the most important techniques utilized in a clinical trial. During the forecast period, expanded access trials which are moreover mention as compassionate exercise test are expected to record a 4.5% CAGR.

At what time no suitable treatments are existing, it is a possible way for the patients having severe conditions of sickness, to perform medication out of the trial. Rising modernization in clinical trial process is expected to impel the section of expanded access trials.

Phase Insight

The phase III section held the biggest, 53.2% revenue share and led the clinical trials market, in 2020. This development is credited to the actuality that the phase III clinical trials are pricey and it includes vast subject matter.

In 2020, the phase II section held 19.6% revenue share. Besides, following phase III, it is subsequent most pricy stage. This reading is done in two divisions. The initial portion comprises discovering a scope of the doses together with learning of effectiveness and the next portion comprises confirmation of the dose. At present, a variety of vaccines are in phase II, intended for the action of corona virus, thus, increasing the expansion of the market.

Indication Insight

The oncology division held the principal, 36.3% revenue share and led the clinical trials market in 2020. The division is furthermore expected to observe the highest 5.9% CAGR, during the forecast period. Besides, the cardiovascular condition section is projected to observe a profitable 5.7% CAGR, for the duration of the forecast.

global-clinical-trials-market

The increasing commonness and augmented demand for gainful medicine through the world, has given rise to major investment for R&D within this section, along with above 190 drugs are coming up. The mainstream of drugs in the preparation is designed for the stroke, lipid disorders, vascular diseases and heart failure.

On the other hand, the present pandemic is generating a risk and performing like an obstruction in the clinical trials for getting efficient treatments as well as therapies for numerous sicknesses.

Regional Insight

In 2020, North America held major, 51.0% revenue share and led the clinical trials market. The state is projected to carry on its domination, during the forecast period. This can be credited to rising R&D activities in clinical research together with growing implementation of innovative technologies, within this state.

For example, the integration of virtual services into the clinical trial procedure via contestants of the market similar to PRA Health Sciences and IQVIA is expected to additionally power the enlargement of the market. The encouraging support by the U.S. government about the clinical trials is expected to, furthermore, increase the demand.

Due to the rising accessibility of a huge group of patient, making it possible the effortless enrollment of the applicants, the market for clinical trials in Asia Pacific is projected to observe the highest 6.7% CAGR, during the forecast period. The outbreak of Covid-19 pandemic, globally, is moreover the major adding factor for the enlargement of the market.

On the word of Asia Pacific’s major biotech expertise CRO Novotech, because of the availability of speed as well as quality, the company is monitoring an enhancement in the demand from the supporters of biotechnology, intended for the research within Asia Pacific region. The rising figure of biotechnology companies are focusing on the Asia Pacific region for their trials intended for Covid-19, to obtain benefit of the huge patient group along with speedy actions.

Companies

The global market for clinical trials is having very aggressive nature. The major issues influencing the aggressive nature are fast acceptance of highly developed technology intended for better healthcare. Besides, main companies are frequently engaged in presentation of new products together with mergers & acquisitions.

Some of the companies for clinical trials market are:

    • Pfizer
    • Eli Lilly and Company
    • SGS SA
    • Wuxi AppTec
    • Clinipace
    • Novo Nordisk A/S
    • Syneos Health
    • PRA Health Sciences
    • ICON Plc

Report Scope

Report Attribute

Details

Market Size value in 2021

USD 47.0 billion

Revenue forecast in 2028

USD 69.3 billion

Growth Rate

CAGR of 5.7% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD Million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Phase, study design, indication, indication by study design, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; China; India; Japan; Australia; South Korea; Mexico; Brazil; Argentina; Colombia; South Africa; Saudi Arabia; UAE

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Key companies profiled

ICON Plc; Wuxi AppTec; PRA Health Sciences; SGS SA; Syneos Health; Eli Lilly and Company; Novo Nordisk A/S; Pfizer; Clinipace

customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.

 

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Million Insights has segmented the global clinical trials market on the basis of phase, study design, indication, indication by study design, and region:

• Phase Outlook (Revenue, USD Million, 2016 - 2028)
    • Phase I
    • Phase II
    • Phase III
    • Phase IV

• Study Design Outlook (Revenue, USD Million, 2016 - 2028)
    • Interventional
    • Observational
    • Expanded Access

• Indication Outlook (Revenue, USD Million, 2016 - 2028)
    • Autoimmune/Inflammation
        • Rheumatoid arthritis
        • Multiple sclerosis
        • Osteoarthritis
        • Irritable Bowel Syndrome (IBS)
        • Others
    • Pain management
        • Chronic pain
        • Acute pain
    • Oncology
        • Blood cancer
        • Solid tumors
        • Other
    • CNS condition
        • Epilepsy
        • Parkinson's Disease (PD)
        • Huntington's Disease
        • Stroke
        • Traumatic Brain Injury (TBI)
        • Amyotrophic Lateral Sclerosis (ALS)
        • Muscle regeneration
        • Others
    • Diabetes
    • Obesity
    • Cardiovascular
    • Others

• Indication By Study Design Outlook (Revenue, USD Million, 2016 - 2028)
    • Autoimmune/Inflammation
        • Interventional
        • Observational
        • Expanded Access
    • Pain management
        • Interventional
        • Observational
        • Expanded Access
    • Oncology
        • Interventional
        • Observational
        • Expanded Access
    • CNS condition
        • Interventional
        • Observational
        • Expanded Access
    • Diabetes
        • Interventional
        • Observational
        • Expanded Access
    • Obesity
        • Interventional
        • Observational
        • Expanded Access
    • Cardiovascular
        • Interventional
        • Observational
        • Expanded Access
    • Others
        • Interventional
        • Observational
        • Expanded Access

• Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Spain
        • Italy
    • Asia Pacific
        • India
        • Japan
        • China
        • Australia
        • South Korea
    • Latin America
        • Brazil
        • Mexico
        • Argentina
        • Colombia
    • Middle East & Africa
        • South Africa
        • Saudi Arabia
        • UAE

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