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.

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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

Report AttributeDetails
Market Size in 2022USD 53.92 Billion
Projected Market Size in 2030USD 85.01 Billion
CAGR Growth Rate5.93% CAGR
Base Year2022
Forecast Years2023-2030
Key Market PlayersIQVIA, 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), and QuintilesIMS (now IQVIA) among others.
Key SegmentBy Phase, By Study Design, By Indication, and By Region
Major Regions CoveredNorth America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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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

By Study Design

By Indication

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Competitive Landscape

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

 Key Insights from Primary Research:

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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

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Recent Developments

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