The new report by Expert Market Research titled, ‘Global Clinical Trials Market Size, Share, Price, Trends, Scope, Report and Forecast 2023-2031’, gives an in-depth analysis of the global clinical trials market, assessing the market based on its segments like design, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2031)
- Historical Market Size (2022): USD 46.7 billion
- Forecast CAGR (2023-2031): 5.4%
- Forecast Market Size (2031): USD 75.0 billion
Oncology clinical trials are more complicated than other therapeutic fields since improved therapies for particular malignancies are required. An oncology trial investigates the efficacy and safety of an antibiotic against infection, as well as how it might enhance the subject’s quality of life.
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Because cancer research is advancing at such a rapid pace, immunotherapy has evolved away from chemotherapy and toward molecularly targeted therapies. Oncology clinical trials have evolved rapidly in terms of accessible clinical data, as well as a robust and growing pipeline of treatment candidates.
Clinical Trials Industry Definition and Major Segments
Clinical trials are research studies designed to evaluate the efficacy of a medical, surgical, or behavioral intervention. They are the primary way for scientists to evaluate if a new therapy, such as a new pharmaceutical, food, or medical gadget, is safe and effective in humans. A clinical trial is commonly conducted to assess whether a new treatment is more effective and has fewer adverse effects.
The high need for clinical trials in growing countries, the pharmaceutical industry’s high R&D investment, the increasing prevalence of disorders, and the focus on rare diseases and several orphan medications in the pipeline are the primary drivers driving the market’s growth.
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By design, the market is divided into:
- Treatment Studies
- Randomised Control Trial
- Adaptive Clinical Trail
- Non- Randomised Control Trial
- Observational Studies
- Cohort Studies
- Case Control Study
- Cross Section Study
- Ecological Study
The global regions for radiology positioning aids market include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Clinical Trials Market Trends
The COVID-19 pandemic has had a significant influence on the clinical trial industry, since there has been a growing emphasis on the discovery of novel treatments or vaccinations to prevent or treat the disease.
The market is growing at a robust pace, owing to the advancements in healthcare and pharmaceuticals. Government initiatives have motivated small, medium, and large players to enter into drug development.
Key Market Players
The major players in the market are IQVIA, Parexel International Corporation, Charles River laboratory, ICON Plc, Syneos Health, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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