Clinical Trials Market to Witness Huge Growth During the Forecast Period 2022-2030

Posted on 2022-06-01 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, June 01, 2022 — /EPR Network/ —

Clinical Trials Industry Overview

The global clinical trials market size was valued at USD 47.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030.

However, the market growth was hindered in 2020 due to the COVID-19 pandemic. In 2020, Parexel and Synairgen plc formed a strategic collaboration for conducting a Phase III study of an Interferon-beta (IFN-beta) treatment for COVID-19 patients. Such strategic initiatives by CROs are expected to minimize the hindrance and boost the market growth. Hence, the market is expected to grow owing to factors such as globalization of clinical trials, rapid technological evolution, and a rise in demand for CROs for conducting research activities.

Gather more insights about the market drivers, restrains and growth of the Global Clinical Trials market

The current pandemic has led to changing the ways of conducting ongoing or upcoming clinical trials. Regulatory agencies, such as the U.S. FDA, the European Medicines Agency (EMA), the National Institutes of Health (NIH), and China’s National Medical Products Administration, have issued various guidelines for conducting trials during the pandemic, which completely supports the implementation of virtual services. The current scenario across the globe and the need for several new treatment options have also led to the conducting of fast-track clinical trials.

Favorable government support is boosting the market growth, for instance, the WHO launched “Solidarity”, an international clinical trial launched to determine effective treatment against COVID-19. It includes comparing four treatment options against the standard of care to evaluate their effectiveness against the coronavirus. The WHO also announced an international alliance in May, for simultaneously developing multiple candidate vaccines to prevent the spread of the coronavirus disease, calling this effort the Solidarity trial for vaccines.

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Clinical Trials Market Segmentation

Grand View Research has segmented the global clinical trials market based on phase, study design, indication by study design, sponsor, indication, and region:

Clinical Trials Phase Outlook (Revenue, USD Million, 2017 – 2030)
- Phase I
- Phase II
- Phase III
- Phase IV
Clinical Trials Study Design Outlook (Revenue, USD Million, 2017 – 2030)
- Interventional
- Observational
- Expanded Access
Clinical Trials Indication Outlook (Revenue, USD Million, 2017 – 2030)
- Autoimmune/Inflammation
  - Rheumatoid arthritis
  - Multiple Sclerosis
  - Osteoarthritis
  - Irritable Bowel Syndrome (IBS)
  - Others
- Pain Management
  - Chronic Pain
  - Acute Pain
- Oncology
  - Blood Cancer
  - Solid Tumors
  - Other
- CNS Condition
  - Epilepsy
  - Parkinson’s Disease (PD)
  - Huntington’s Disease
  - Stroke
  - Traumatic Brain Injury (TBI)
  - Amyotrophic Lateral Sclerosis (ALS)
  - Muscle Regeneration
  - Others
- Diabetes
- Obesity
- Cardiovascular
- Others
Clinical Trials Indication by Study Design Outlook (Revenue, USD Million, 2017 – 2030)
- Autoimmune/Inflammation
  - Interventional
  - Observational
  - Expanded Access
- Pain Management
  - Interventional
  - Observational
  - Expanded Access
- Oncology
  - Interventional
  - Observational
  - Expanded Access
- CNS Condition
  - Interventional
  - Observational
  - Expanded Access
- Diabetes
  - Interventional
  - Observational
  - Expanded Access
- Obesity
  - Interventional
  - Observational
  - Expanded Access
- Cardiovascular
  - Interventional
  - Observational
  - Expanded Access
- Others
  - Interventional
  - Observational
  - Expanded Access
- Clinical Trials Sponsor Outlook (Revenue, USD Million, 2017 – 2030)
  - Pharmaceutical & Biopharmaceutical Companies
  - Medical Device Companies
  - Others
- Clinical Trials Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)

Market Share Insights

January 2020: Wuxi AppTec announced offering a fully integrated adeno-associated virus vector suspension platform to accelerate the development, manufacture, and launch of cell & gene therapy, thus expanding its service capabilities.
June 2018: is of Acurian and Synexus, a part of PPD, wherein they launched SynexusPlus, a site solution for patient enrollment in clinical studies. This initiative is anticipated to improve clinical trial productivity.

Key Companies profiled:

Some prominent players in the global clinical trials market include

IQVIA
PAREXEL International Corporation
Pharmaceutical Product Development, LLC
Charles River Laboratory
ICON Plc
PRA Health Sciences
Syneos Health
Eli Lilly and Company
Novo Nordisk A/S
Pfizer
Clinipace

Order a free sample PDF of the Clinical Trials Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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