Global Clinical Trials Market Research Report 2023: Market is Set to Grow by Over $28 Billion by 2031 - Regulatory Policies and Emerging Markets Propel Growth

Dublin, Oct. 03, 2023 (GLOBE NEWSWIRE) -- The "Global Clinical Trials Market Report and Forecast 2023-2031" report has been added to's offering.

The clinical trial market size attained a value of USD 46.7 Billion in 2022. The market is anticipated to grow at a CAGR of 5.40% during the forecast period of 2023-2031 to attain a value of nearly USD 75 billion by 2031.

The report provides an in-depth analysis of the key players within the clinical trial market, encompassing sponsors responsible for drug manufacturing and undergoing FDA approval trials.

Clinical trials serve as a pivotal cornerstone in medical progress, offering evidence-based insights into the safety and effectiveness of various interventions. These trials adhere to a structured, multi-phased approach, each phase concentrating on distinct facets of the intervention, from exploratory studies in Phase 0 to post-marketing surveillance in Phase 4. Stringent ethical and regulatory standards govern these trials to safeguard participant well-being and ensure result reliability.

The significance of clinical trials extends to drug development, where they ascertain critical elements such as safety, efficacy, optimal dosage, and potential side effects of new pharmaceuticals. The data garnered from these trials holds immense importance for regulatory approvals and the eventual introduction of novel drugs into the market.

The clinical trial market has sustained consistent growth, fueled by various contributing factors that have led to its expansion and evolution. Key drivers include a rising prevalence of chronic diseases necessitating innovative treatments, technological advancements streamlining trial processes and enabling decentralized trials, and a growing emphasis on personalized medicine for targeted therapies.

Supportive regulatory policies have expedited approval processes for groundbreaking treatments, particularly in areas with unmet medical needs or rare diseases. The expansion of clinical research into emerging markets, characterized by large patient populations and lower operational costs, has also played a significant role in driving the growth and evolution of the clinical trial market.

In conclusion, the clinical trial market has been steadily growing, owing to a combination of factors including the increasing prevalence of chronic diseases, technological advancements, and a focus on personalized medicine. The future outlook for the market remains promising, with ongoing innovations and developments in medical research expected to drive further growth and expansion in the coming years.

Key Attributes:

Report AttributeDetails
No. of Pages147
Forecast Period2023 - 2031
Estimated Market Value (USD) in 2023$49.2 Billion
Forecasted Market Value (USD) by 2031$75 Billion
Compound Annual Growth Rate5.4%
Regions CoveredGlobal

Key Players in the Global Clinical Trial Market

  • PAREXEL International Corporation
  • Charles River Laboratory
  • ICON Plc
  • Financial Analysis
  • Syneos Health
  • Labcorp Drug Development (COVANCE)
  • Wuxi Apptec
  • Charles River Laboratories
  • PPD Inc
  • ICON Plc
  • Medpace Holdings Inc
  • Acm Global Laboratories
  • Advanced Clinical
  • SGS
  • Bio Agile Therapeutics

Patent Analysis

Analysis by Type of Patent

  • Analysis by Publication year
  • Analysis by Issuing Authority
  • Analysis by Patent Age
  • Analysis by CPC Analysis
  • Analysis by Patent Valuation
  • Analysis by Key Players

Grants Analysis

  • Analysis by year
  • Analysis by Amount Awarded
  • Analysis by Issuing Authority
  • Analysis by Grant Application
  • Analysis by Funding Institute
  • Analysis by NIH Departments
  • Analysis by Recipient Organization

Funding Analysis

  • Analysis by Funding Instances
  • Analysis by Type of Funding
  • Analysis by Funding Amount
  • Analysis by Leading Players
  • Analysis by Leading Investors
  • Analysis by Geography

Partnership and Collaborations Analysis

  • Analysis by Partnership Instances
  • Analysis by Type of Partnership
  • Analysis by Leading Players
  • Analysis by Geography

Regulatory Framework

  • Regulatory Overview
  • US FDA
  • EU EMA

Clinical Trial Market Segmentations

Market Breakup by Design

  • Treatment Studies
  • Randomised Control Trial
  • Adaptive Clinical Trail
  • Non- Randomised Control Trial
  • Observational Studies
  • Cohort Studies
  • Case Control Studies
  • Cross Section Study
  • Ecological Study
  • Others

Market Breakup by Phase

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

Market Breakup by Service Type

  • Site Identification
  • Patient Recruitment
  • Laboratory Services
  • Analytical Testing Services
  • Bio-Analytical Testing Services
  • Cell Based Assay
  • Virology Testing
  • PK/PD Testing Services
  • Method Development, Optimization, Validation
  • Serology, Immunogenicity and Neutralizing Antibodies
  • Bio Marker Testing Service
  • Other Bioanalytical Testing Services
  • Clinical Trial Data Management Services
  • Clinical Trial Supply and Logistic Services
  • Medical Device Testing Services
  • Other Clinical Trial Services

Market Breakup by Therapy Area

  • Oncology
  • Infectious Disease
  • Neurology
  • Immunology
  • Cardiology
  • Genetic Disease
  • Women's Health
  • Other Therapy Areas

Market Breakup by Application

  • Small Molecule
  • Vaccine
  • Cell and Gene Therapy
  • Other Applications

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Global Clinical Trials Market

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