Clinical trials market is anticipated to grow at a significant CAGR of 5.3% during the forecast period. The key factors contributing to the market growth include increasing advancement in products by the addition of various technologies in a product such as new software, system to monitor clinical trials that take fewer times and attributed to the demand for the various new technologies and growing and also adoption is increasing that in turn contributing in the positive growth of the market. For instance, in May 2020, Royal Philips launched Clinical Trial Accelerator on Philips HealthSuite which allows life science organizations to integrate, analyze and store clinical and patient-reported data and also assist in faster decision-making. In addition, in December 2019, Teckro launched new software to streamline clinical trials, which uses machine-learning technology to transform clinical trial protocols from static documents into actionable data. This software provides feedback to improve performance, software additions can accelerate the speed and precision and also gives study administrators a consistent way to communicate.
The global clinical trials market is segmented based on the phase, study design, therapeutic area, and sponsor outlook. Based on this the market is segmented into phase I, phase II, phase III, and phase IV. Based on the study design, the market is segmented into interventional, observational, and expanded access. Based on the therapeutic area, the market is segmented into autoimmune disease, oncology, cardiology, infectious disease, dermatology, ophthalmology, and others. Based on the sponsor outlook, the market is subdivided into pharmaceutical & biopharmaceutical companies, medical device companies, and others. Among study design, the interventional segment is anticipated to hold a prominent share in the market owing to it is the most widely used method in clinical trials, this method is an improved way of measuring the efficacy of new intermediation, and also several advantages such as information on exposure are gained before disease develops among others are such factors that are driving segmental growth further in the market.
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Market Coverage
- Market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Clinical Trials Market Segmentation
By Phase
- Phase I
- Phase II
- Phase III
- Phase IV
By Study Design
- Interventional
- Observational
- Expanded Access
By Therapeutic Area
- Autoimmune Disease
- Oncology
- Cardiology
- Infectious Disease
- Dermatology
- Ophthalmology
- Others (Women’s Health, Genetic Diseases, and Immunology)
By Sponsor Outlook
- Pharmaceutical & Biopharmaceutical Companies
- Medical Device Companies
- Others (Academic Medical Centers, Industry-Sponsored)
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- AccuLab Life Sciences
- BioAgile Therapeutics Pvt Ltd.
- Celerion
- Clario
- Dove Quality Solutions Ltd.
- Firma Clinical Research (Firma)
- Frontage Laboratories, Inc.
- Geneticist Inc
- ICON plc
- IQVIA
- Linical Americas
- Medpace, Inc.
- Novo Nordisk A/S
- Novotech
- Parexel International GmbH
- Pepgra
- PSI CRO AG
- SGS
- Syneos Health
- Thermo Fisher Scientific
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