Overview


According to FutureWise analysis the market for clinical trials in 2023 is US$ 52.7 billion, and is expected to reach US$ 82.86 billion by 2031 at a CAGR of 5.80%.

Clinical trials are scientific investigations that examine an individual's response to a medicinal, surgical, or behavioural intervention. In order to determine whether a novel method of therapy or prevention, such as a new medication, diet, or medical device (such as a pacemaker), is both safe and effective in humans, researchers mostly rely on these trials. A clinical trial is frequently intended to determine whether a new treatment is more efficient or has less negative side effects than current treatments.

The goal of clinical trials for pharmaceuticals and medical devices is to evaluate their effectiveness, safety, and potential negative effects. To decide whether to authorize a medication or device for continued use, the FDA normally requires that Phase 1, 2, and 3 trials be completed. The FDA approves an intervention for clinical use and continues to monitor its outcomes if studies conducted in the first three phases show it to be secure and efficient. The pharmaceutical industry's increased investment in research and development (R&D), the rising prevalence of diseases, the focus on rare diseases, and the availability of numerous orphan drugs in development are the main drivers of the market's growth.

A higher need for efficient, speedy, and reliable clinical trial programs will probably arise as the demand for novel therapies and improved medical technologies increases. For the biotechnology and pharmaceutical companies, however, the process of creating new treatments carries a high level of risk due to significantly lower approval rates and related high costs. As a result, it has been noticed that by contracting with several contract research organizations (CROs), the pharmaceutical business will greatly save time and money. Regional penetration of some contract research organizations (CROs) has also been documented. As a result, during the projected year, the clinical trials market will grow due to the surge in demand for clinical trial outsourcing. Moreover, utilising predictive analytics techniques like artificial intelligence and machine learning, numerous businesses are currently developing models and offering recommendations. In order to increase success rates and reduce risk in big, multi-center clinical trials, predictive analytics methods can be used to discover patient features that are more likely to respond to a particular treatment pattern. Clinical trial researchers now have access to many health information, making this conceivable. Due to the growing usage of predictive analysis, as a result, there is profit potential for market players to expand the revenue growth of this target market. However, the cost of services in the clinical trials industry is high. Contracting and patenting are challenging processes for the clinical trials industry. As a result, the industry of clinical trials has high labor costs. Also, the expansion of the industry may be hampered by the varied regulatory difficulties associated with conducting clinical trials in different nations. Several nations also demand local language translation, import and export permits, and the display of patient data particular to their nation. Consequently, a sizable language barrier and a complicated regulatory system may impede regional development.

FutureWise Market Research has published a report that provides an insightful analysis of clinical trials market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry.

According to the analysis conducted by FutureWise research analysts, the clinical trials market is estimated to register a considerable growth rate over the forecast period. This report lists the market segments and potential prospects available across this industry, in addition providing crucial information on the total valuation currently held by the industry. Moreover, this report will assist key management individuals in an organisation to enhance their decisions pertaining to business expansion as well as strategic changes for increasing customer base.

  • Pfizer.
  • QVIA.
  • PAREXEL International Corporation.
  • Pharmaceutical Product Development LLC.
  • Charles River Laboratory.
  • ICON Plc.
  • Wuxi AppTec Inc.
  • PRA Health Sciences.
  • SGS SA.
  • Syneos Health.
  • Chiltern International Ltd.
  • Eli Lilly and Company.
  • Novo Nordisk A/S.
  • Clinipace

(Note: The list of the major players will be updated with the latest market scenario and trends)

By Phase

  • Phase I
  • Phase II
  • Phase III
  • Phase IV

By Study Design

  • Interventional 
  • Observational
  • Expanded Access

By Indication

  • Inflammation
  • Pain Management
  • Central Nervous System Conditions
  • Oncology
  • Obesity
  • Cardiovascular
  • Diabetes
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

This market research report also emphasis on factors affecting the growth rate in various regions listed above. A deep-down analysis of region will also be provided in the final version of this market which is based on conclusion of primary interviews and secondary data point gathered during the process.

By region, the market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. North America registered highest share in the market in 2022. This is attributed to rising R&D expenditures and a surge in new technology use in this region's clinical trials. For instance, industry participants like IQVIA and PRA Health Sciences are expected to use virtual services at different stages of clinical trials to propel the expansion of the North American market. Furthermore, the demand is predicted to increase due to favorable government assistance for clinical studies in the US market.

Additionally based on phase; phase II hold largest market revenue. Phase II is essential, especially for research involving cancer. According to the FDA, 33.0% of drugs typically undergo Phase II trials. Additionally, several medicines and vaccines suggested for the treatment of COVID-19 are now in Phase II, which will help the market expand.

  • Tier 1 players- established companies in the market with major market share
  • Tier 2 players
  • New Entrants
  • Emerging players which are growing rapidly

  • Growth prospects
  • SWOT analysis
  • Key market trends
  • Key data-points affecting market growth

  • To provide with an exhaustive analysis on the global clinical trials market By Phase, By Study Design, By Indication and By Region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market
  • To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
  • To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions

  • We have a flexible delivery model and you can suggest changes in the scope/table of content as per your requirement
  • The customization Mobility Care offered are free of charge with purchase of any license of the report
  • You can directly share your requirements/changes to the current table of content to: sales@futurewiseresearch.com

Table of Contents


  • 1.   Market Introduction
    •   1. Objectives of the Study
        2. Market Definition
        3. Market Scope
         3.1. Years Considered for the Study
         3.2. Market Covered
        4. Currency
        5. Limitations
        6. Stakeholders
  • 2.   Research Methodology
    •   1. Research Data
         1.1. Secondary Data
          1.1.1. Key Data from Secondary Sources
         1.2. Primary Data
          1.2.1. Key Data from Primary Sources
        2. Market Size Estimation
        3. Market Breakdown and Data Triangulation
        4. Assumptions for the Study
  • 3.   Executive Summary
    •   1. Market Outlook
        2. Segment Outlook
        3. Competitive Insights
  • 4.   Clinical Trials Market Variables, Trends and Scope
    •        1. Market Lineage Outlook
        2. Penetration and Growth Prospect Mapping
        3. Industry Value Chain Analysis
        4. Cost Analysis Breakdown
        5. Technology Overview
        6. Regulatory Framework
         6.1. Reimbursement Framework
         6.2. Standards and Compliances

  • 5.   Market Overview
    •   1. Market Dynamics
         1.1. Market Driver Analysis
          1.1.1. Increasing focus of Clinical Trials Market Companies on Brand Protection
          1.1.2. Untapped Opportunities in Emerging Regions
         1.2. Market Restraint Analysis
          1.2.1. High Cost Associated with Implementation of Predictive Analysis
         1.3. Industry Challenges
          1.3.1. Presence of Ambiguous Regulatory Framework
  • 6.   Clinical Trials Market Analysis Tools
    •   1. Industry Analysis - Porter’s
         1.1. Supplier Power
         1.2. Buyer Power
         1.3. Substitution Threat
         1.4. Threat from New Entrants
         1.5. Competitive Rivalry
        2. Pestel Analysis
         2.1. Political Landscape
         2.2. Environmental Landscape
         2.3. Social Landscape
         2.4. Technology Landscape
         2.5. Legal Landscape
        3. Major Deals And Strategic Alliances Analysis
         3.1. Joint Ventures
         3.2. Mergers and Acquisitions
         3.3. Licensing and Partnership
         3.4. Technology Collaborations
         3.5. Strategic Divestments
        4. Market Entry Strategies
        5. Case Studies
  • 7.   Clinical Trials Market, By Phase Historical Analysis and Forecast 2023-2031 (USD Million)
    •   1. Phase I
        2. Phase II
        3. Phase III
        4. Phase IV

  • 8.   Clinical Trials Market, By Study Design Historical Analysis and Forecast 2023-2031 (USD Million)
    •   1. Interventional
        2. Observational
        3. Expanded Access

  • 9.   Clinical Trials Market, By Indication Historical Analysis and Forecast 2023-2031 (USD Million)
    •   1. Inflammation
        2. Pain Management
        3. Central Nervous System Conditions
        4. Oncology
        5. Obesity
        6. Cardiovascular
        7. Diabetes
        8. Others

  • 10.   North America Clinical Trials Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. U.S.A
         2.2. Canada
         2.3. Mexico
        3. Market Size (USD Million) Forecast for North America 2023-2031

  • 11.   Latin America Clinical Trials Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Brazil
         2.2. Venezuela
         2.3. Argentina
         2.4. Rest of Latin America
        3. Market Size (USD Million) Forecast for Latin America 2023-2031

  • 12.   Europe Clinical Trials Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Germany
         2.2. U.K
         2.3. France
         2.4. Italy
         2.5. Spain
         2.6. Russia
         2.7. Poland
         2.8. Rest of Europe
        3. Market Size (USD Million) Forecast for Europe 2023-2031

  • 13.   Asia Pacific Clinical Trials Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Japan
         2.2. China
         2.3. India
         2.4. Australia and New Zealand
         2.5. ASEAN
         2.6. Rest of Asia Pacific
        3. Market Size (USD Million) Forecast for Asia Pacific 2023-2031

  • 14.   Middle East and Africa Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. GCC
         2.2. Israel
         2.3. South Africa
         2.4. Rest of MEA
        3. Market Size (USD Million) Forecast for MEA 2023-2031

  • 15.   Market Share Analysis and Competitive Landscape
    •   1. Global Landscape - Key Players, Revenue and Presence
        2. Global Share Analysis - Key Players (Tier 1, Tier 2, Tier 3)
        3. Global Emerging Companies
        4. North America - Market Share Analysis and Key Regional Players
        5. Europe - Market Share Analysis and Key Regional Players
        6. Asia Pacific - Market Share Analysis and Key Regional Players
        7. Global Key Player - Growth Matrix
  • 16.   Company Profiles (Competition Dashboard, Competitors Deep Dive, Products Offered and Financial Layouts)
    •   1. Pfizer
         1.1. Company Overview
         1.2. Product Portfolio
         1.3. SWOT Analysis
         1.4. Financial Overview
         1.5. Strategic Overview
        2. QVIA
         2.1. Company Overview
         2.2. Product Portfolio
         2.3. SWOT Analysis
         2.4. Financial Overview
         2.5. Strategic Overview
        3. PAREXEL International Corporation
         3.1. Company Overview
         3.2. Product Portfolio
         3.3. SWOT Analysis
         3.4. Financial Overview
         3.5. Strategic Overview
        4. Pharmaceutical Product Development LLC
         4.1. Company Overview
         4.2. Product Portfolio
         4.3. SWOT Analysis
         4.4. Financial Overview
         4.5. Strategic Overview
        5. Charles River Laboratory
         5.1. Company Overview
         5.2. Product Portfolio
         5.3. SWOT Analysis
         5.4. Financial Overview
         5.5. Strategic Overview
        6. ICON Plc
         6.1. Company Overview
         6.2. Product Portfolio
         6.3. SWOT Analysis
         6.4. Financial Overview
         6.5. Strategic Overview
        7. Wuxi AppTec Inc.
         7.1. Company Overview
         7.2. Product Portfolio
         7.3. SWOT Analysis
         7.4. Financial Overview
         7.5. Strategic Overview
        8. PRA Health Sciences
         8.1. Company Overview
         8.2. Product Portfolio
         8.3. SWOT Analysis
         8.4. Financial Overview
         8.5. Strategic Overview
        9. SGS SA
         9.1. Company Overview
         9.2. Product Portfolio
         9.3. SWOT Analysis
         9.4. Financial Overview
         9.5. Strategic Overview
        10. Syneos Health
         10.1. Company Overview
         10.2. Product Portfolio
         10.3. SWOT Analysis
         10.4. Financial Overview
         10.5. Strategic Overview
             11. Chiltern International Ltd.
         11.1. Company Overview
         11.2. Product Portfolio
         11.3. SWOT Analysis
         11.4. Financial Overview
         11.5. Strategic Overview
             12. Eli Lilly and Company.
         12.1. Company Overview
         12.2. Product Portfolio
         12.3. SWOT Analysis
         12.4. Financial Overview
         12.5. Strategic Overview
            13. Novo Nordisk A/S.
         13.1. Company Overview
         13.2. Product Portfolio
         13.3. SWOT Analysis
         13.4. Financial Overview
         13.5. Strategic Overview
            14. Clinipace
         14.1. Company Overview
         14.2. Product Portfolio
         14.3. SWOT Analysis
         14.4. Financial Overview
         14.5. Strategic Overview

  • 17.   Pre and Post COVID-19 Impact
    •   1. Positive influence on the healthcare industry
        2. The financial disruption of the manufacturing sector
        3. Impact of COVID-19 on emerging companies
        4. Significant mandates in the regulations initiated by healthcare administrations
        5. The overall economic slowdown of the developing and developed nations
  • 18.   FutureWise SME Key Takeaway Points for Client
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