How big is Clinical Trials Market ?
The global clinical trials market is expected to reach USD 47,500 Million by 2030 at 5.70% CAGR during the forecast period 2022-2030. .Global use of clinical trials for development of novel drugs is the primary driver of the market. Emergence of theranostics combined with demand for contract research organizations (CROs) are other drivers of the market. Development of drugs for orphan diseases and large offering of services by CROs for numerous regions can bode well.
Clinical trials are imperative for testing the efficacy of novel drugs and therapies. It has been used by pharmaceutical and biopharmaceutical sectors for formulating new medicines to combat the onset of chronic diseases. Customized medicines can be prepared according to results gained from the study. The global clinical trials market report by Market Research Future (MRFR) contains drivers, opportunities, and challenges compiled by notable analysts using proprietary research methodologies.
Massive demand for generic drugs due to expensive nature of commercial drugs are likely to bolster the demand in the global clinical trials market. Collaborations between major pharmaceutical companies can cover the gap of the number of medicines being available to the masses and fuel the market growth.
But strict regulations and high costs of clinical trials can impede the market.
Market Segmentation
The global clinical trials market is segmented on the basis of phase, study design, indication and end users. On the basis of the phase, it is categorized into phase I, phase II, phase III, and phase IV.
On the basis of study design, the global clinical trials market is divided into interventional, observational and expanded access.
On the basis of indication, the global clinical trials market is segmented into autoimmune/inflammation, pain management, oncology, central nervous system (CNS) condition, diabetes, obesity, cardiovascular and others.
On the basis of the end-user, the market is segmented into dental hospitals clinics, dental institutes and dental academic and research institutes.
Regional Analysis
The global clinical trials market is segmented on the basis of phase, study design, indication and end users. On the basis of the phase, it is categorized into phase I, phase II, phase III, and phase IV.
On the basis of study design, the global clinical trials market is divided into interventional, observational and expanded access.
On the basis of indication, the global clinical trials market is segmented into autoimmune/inflammation, pain management, oncology, central nervous system (CNS) condition, diabetes, obesity, cardiovascular and others.
On the basis of the end-user, the market is segmented into dental hospitals clinics, dental institutes and dental academic and research institutes.
Competitive Analysis
Major industry participants in the global clinical trials market Players include Paraxel International Corporation, Eli Lilly and Company, SGS SA, ICON plc, Laboratory Corporation of America, Novo Nordisk A/S, Charles River Laboratories, Quintiles IMS, Pfizer, and Clinipace.
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