Global Clinical Trials Market: Introduction
Clinical trials are type of research studies, conducted on individuals who volunteered for testing medical equipment or drugs in order to determine treatment for certain diseases or disorders. They are conducted in order to diagnose, detect, prevent various types of diseases. Each clinical trials have certain protocols and action plan to execute the testing procedure. Clinical trials help to generate data regarding efficiency, effectiveness, and safety of drugs and medical treatments on animals and humans. The global Clinical Trials Market is estimated to value at nearly US$ 44 Bn in 2019, and is expected to register a CAGR of 5.7%.
Global Clinical Trials Market: Dynamics
Increasing demand for new medical equipments and medicines among end users, coupled with growing investment for research and development activities for development of effective medicines are major factors driving growth of the global clinical trials market. In addition, increasing number of individuals suffering from chronic diseases as well as changing conditions and nature of certain types of chronic diseases is another factor anticipated to support growth of the global clinical trials market to significant extent.
Furthermore, increasing prevalence of neurological diseases such as Parkinson’s, Alzheimer’s, tumors, depression, epilepsy, coupled with growing geriatric population are also factors expected to drive growth of the target market over the forecast period. Increasing clinical trials for finding effective and permanent solutions to cure or slowdown and prevent spread of neurological diseases and aging diseases is a factor propelling growth of the target market.
Analysis By Segmentation:
The market report has been segmented on the basis of phases, study design, indications/symptoms, and region. The phases segment includes phase I, phase II, phase III, and phase IV. The study design segment includes interventional trials, observational trials, and expanded access trials. The indications/symptoms segment includes autoimmune, blood disorders, cancer, circulatory, CNS, congenital, CVS, dermatology, ear, gastrointestinal, genitourinary, infections, mental disorders, metabolic, musculoskeletal, nose, ophthalmology, and others. The region includes the North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The Phase II segment is expected to register highest CAGR of over 5.8% over the forecast period in the global market
By Study Design:
The interventional trials segment is expected to register highest CAGR of over 5.5% over the next 10 years
The cancer segment is expected to register highest CAGR of over 6% over the forecast period in the global market
The market in Asia Pacific is expected to register highest CAGR of over 6% in the global clinical trials market
Global Clinical Trials Market: Competitive Analysis
The research report on the global clinical trials market includes profiles of some of the major companies such as Eli Lilly and Company, Sun Pharmaceutical Industries Ltd., Novo Nordisk A/S, Pfizer Inc., ICON plc, Sanofi, Laboratory Corporation of America Holdings, F. Hoffmann-La Roche Ltd., PAREXEL International Corporation, and IQVIA Holdings Inc.
The Global Clinical Trials Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2019–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global clinical trials market for 2018–2028.
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