The global clinical trials market size is expected to reach
USD 69.8 billion by 2027, exhibiting a 5.1% CAGR during the forecast period,
according to a new report published by Grand View Research, Inc. Increasing
incidence of diabetes, rheumatoid arthritis, multiple sclerosis and many other
chronic diseases is projected to propel the growth. Due to rising prevalence of
infectious and tropical diseases in some regions, a large number of patients is
participating in clinical trials to access high quality healthcare treatment
free of cost.
Increasing prevalence of life-threatening
allergic diseases is also expected to fuel the market growth. As per the Food
Allergy Research & Education Survey 2017, around 200,000 people need
emergency medical care for allergic reaction to food, mostly in U.S. In
addition, government initiative has also motivated many players in market to
initiate orphan drug development. Thus there are various drugs in pipeline.
Rising healthcare expenditure and collaborations for the purpose of R&D
activities are also expected to be other significant factors driving the market
for clinical trials in the forthcoming years.
Browse full research report on Clinical
Trials Market: https://www.grandviewresearch.com/industry-analysis/global-clinical-trials-market
Further key
findings from the report suggest:
- Phase III clinical trials emerged as the
largest segment in 2019
- Interventional study design segment held the
largest market share in 2019, owing to increasing demand for the
intervention for clinical trials by researchers
- North America dominated the clinical trials
market with the largest revenue share in 2019. Increasing demand for new
technologies along with advanced healthcare infrastructure are
contributing to the dominance of this region
- Asia Pacific is projected to witness the
fastest growth during the forecast period owing to the increasing number
of diabetic patients in this region
- Few of the market players include IQVIA;
PAREXEL International Corporation; Pharmaceutical Product Development,
LLC; Charles River Laboratory; ICON Plc; Wuxi AppTec Inc.; PRA Health
Sciences; SGS SA; Syneos Health; Chiltern International Ltd.; Eli Lilly
and Company; Novo Nordisk A/S; Pfizer; and Clinipace
Browse request sample of this report by
Grand View Research: https://www.grandviewresearch.com/industry-analysis/global-clinical-trials-market/request/rs1
Grand
View Research has segmented the global clinical trials market based on phase,
study design, indication, and region:
Clinical
Trials Phase Outlook (Revenue, USD Million, 2016 - 2027)
- Phase I
- Phase II
- Phase III
- Phase IV
Clinical
Trials Study Design Outlook (Revenue, USD Million, 2016 - 2027)
- Interventional
- Observational
- Expanded Access
Clinical
Trials Indication Outlook (Revenue, USD Million, 2016 - 2027)
- Autoimmune/Inflammation
- Pain Management
- Cardiovascular
- CNS Condition
- Oncology
- Diabetes
- Obesity
- Others
Clinical
Trials Regional Outlook (Revenue, USD Million, 2016 - 2027)
- 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
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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