Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Clinical Trials Market: By Clinical Trial Phase, By Disease Type, By Design, By End user and Geography
Clinical Trials Market size was valued at US$ 46.8 billion in the year 2023 and is anticipated to grow US$ 70.23 Bn by 2030 at a CAGR of 7.5% from 2024-2030. Clinical trials are research studies primarily performed on humans to get data about the safety and efficacy of newer biomedical interventions including novel devices, vaccines, drugs, and treatments. Generally, clinical trials are regulated by the ethics committees and health authorities. On the broad base, clinical trials are carried out to determine the overall pharmacokinetic and pharmacodynamic properties of the products. Clinical trials are carried out under various phases such as Phase 0 to Phase 3 and Phase 4 is carried out for a post-marketing study of the products.
The product will be recalled if it fails at any stage of the clinical trial. Geographically, the Clinical Trials market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. for the development of capabilities in infectious diseases and vaccines. Clinical trials are research investigations in which people volunteer to test medical equipment or pharmaceuticals to figure out how to cure particular diseases or problems. They are carried out to diagnose, detect, and prevent certain diseases. To carry out the testing method, each clinical trial has its own set of protocols and action plans. Clinical trials are used to gather information about the efficacy, safety, and efficacy of pharmaceuticals and medical treatments on animals and humans.
Study Period
2024-2030Base Year
2023CAGR
7.5%Largest Market
North AmericaFastest Growing Market
Europe
Increase in the prevalence of chronic diseases and entry of newer diseases might propel the innovation of novel drugs leads to bolster the clinical trials market. Acquisitions & mergers, collaborations, and joint ventures between the pharmaceutical and biotechnology companies with clinical research organizations are helping to drive the revenue growth of clinical trials market. For instance, in September 2015, Chiltern acquired the theorem clinical for strengthening the facilities for clinical trials. Similarly, in June 2017, ProPharma group acquired the Drug Safety Solutions for the development of clinical trial facilities. clinical trials market is in the developed stage owing increase in the R&D activities and innovation of newer biological products and medical devices in the market.
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market CAGR |
7.5% |
By Trial Phase |
|
By Disease Type |
|
By Study Design |
|
By End User |
|
Download Free Sample Report
The clinical trials market size was valued at US$ 46.8 billion in 2023
The clinical trials market key players are: Charles River Laboratories International Kendle International Parexel International Corporation Chiltern International Ltd Omnicare Healthcare Co. Audax Group Laboratory Corporation of America Holdings
The clinical trials market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
Key Market Players