Global Clinical Trials Market, By Phase (Phase I, Phase II, Phase III, Phase IV), Design (Treatment Studies, Observational Studies), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2025
Market Analysis: Global Clinical Trials Market
The Global Clinical Trials Market is expected to reach USD 1.76 billion by 2025, from USD 1.04 billion in 2017 growing at a CAGR of 6.7% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Market Definition: Global Clinical Trials Market
Clinical trials can be termed as research studies that are performed on human to gain specific information about biomedical interventions such as vaccines, treatments, drugs in order to generate a safe data. According to United States Food and Drug (FDA) form 1572, protocol and amendments for some information is must for clinical trials such as inform consent, other written information for participants, recruitment advertisement, financial disclosure form (FDF), master clinical trial agreement (MCTA), institutional review board (IRB) approval, medical licensure, training records, laboratory accreditation, visit monitor reports, miscellaneous document, signature sheet and documentation of investigational drug destruction. Due to globalization, clinical trials have led to increase in investment and development of new products by the growing countries which has a positive impact on the market. According to an article published recently by the Pfizer, the company has three CROs working with it to enhance its product portfolio and drive innovation. According to the partnership agreement with ICON in 2011, Pfizer would only preserve the scientific ownership for the trials and studies conducted by ICON, hence allowing the company to focus and further develop its capabilities in clinical trial designing.
Major Market Drivers and Restraints:
- Demand for clinical trials in emerging markets
- High R&D spending of the pharmaceutical industry
- Increasing prevalence of diseases
- Focus on rare diseases and multiple orphan drugs in pipeline
- Lack of skilled clinical research workforce
- Regulatory quality in emerging markets
- Stringent regulations for patient enrolment
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Market Segmentation: Global Clinical Trials Market
- The global clinical trials market is segmented based on phase, design and geographical segments.
- On the basis of phase, the market is classified into Phase I, Phase II, Phase III and Phase IV.
- On the basis of design, the market is segmented into treatment studies, observational studies. The treatment studies are further sub segmented into randomized control trial, adaptive clinical trial and non-randomized control trial. The observational studies segment is further sub segmented into cohort study, case control study, cross sectional study, ecological study
- Based on geography, the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Key Developments in the Market:
- In March 2016, AAIPharma Services Corporation, which is a leading provider of custom development and manufacturing services for the pharmaceutical and biotechnology industries, announced its new identity as a leading contract development and manufacturing organization (CDMO) with expanded capabilities and capacity, the organization to now be known as “Alcami”
- In July2018, Boehringer Ingelheim and Lilly announce Tradjenta’s CARMELINA cardiovascular outcome trial meets primary endpoint. The company announced the positive top-line results from the trial, which evaluated the impact of treatment with Tradjenta compared with placebo on cardiovascular safety on top of standard of care.
Competitive Analysis: Global Clinical Trials Market
The global clinical trials market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Clinical trials market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Clinical Trials Market
Some of the major players operating in the global Clinical trials market are Clinipace Worldwide, LabCorp, Eli Lilly and Company, ICON Plc., Novo Nordisk, Parexel, Pfizer Inc., Pharmaceutical Product Development, LLC, IQVIA, Roche Holding, Ranbaxy Laboratories, Ltd., Sanofi Aventis A.S. and Roche Group., Aaipharma Services Corp, Accell Clinical Research LLC, Aptiv Solutions, Chiltern International Limited , Congenix, Covance Inc., Ecron Acunova Ltd, Eurotrials, Medpace Inc, Pharmanet Development Group, PRA International, Siro Clinpharm PVT. LTD among others.
Research Methodology: Global Clinical Trials Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others
Reasons to Purchase this Report
- Current and future of global clinical trials market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
- Regions/countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report
- The report includes the complete segmentation displayed above across all above mentioned countries
- All types covered in the market, product volume and average selling prices will be included as customization options which may incur no or minimal additional cost (depends on customization)
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