Press release
Global Clinical Trials Market Estimated $1.76 Billion Growth by 2025 | A report by Clinipace Worldwide, LabCorp, Eli Lilly and Company, ICON Plc., Novo Nordisk, Parexel, Pfizer Inc., Pharmaceutical Product Development and others
Market Analysis:
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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Key Players:
• 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
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.
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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
Market Segmentation:
The global clinical trials market is segmented based on
• Phase
• Design
• Geographical segments
Phase
Phase I
Phase II
Phase III
Phase IV
Design
• treatment studies
• observational studies
Treatment studies
• randomized control trial
• adaptive clinical trial
• non-randomized control trial
Observational studies
• cohort study
• case control study
• cross sectional study
• ecological study
Geography
• North America
• South America
• Europe
• Asia-Pacific
• Middle East
• Africa
Competitive Analysis:
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.
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