Clinical Trials Market Share, Trends, Competitor Analysis and Forecast to 2019-2025
“The Global Clinical Trials Market is expected to reach US$ 69.1 Bn by 2025 due to growing occurrences of life threatening diseases and technological advancements in the field of drug discovery”
The global clinical trials market is expected to reach US$ 69.1 Bn by 2025. Clinical trials are experiments or observations done in clinical research to generate data on safety and efficacy. Clinical trials are done on vaccines, drugs, medical devices, dietary supplements and choices etc. The global clinical trials market is driven by upsurge of diseases caused by viruses like Zika, Ebola, and HIV etc. Additionally, growing occurrences of diseases like cancer, diabetes, stroke etc. is also fueling the growth of global clinical trials market. Technological advances in the clinical trials and growing demands from CROs for conducting clinical trials are boosting the growth of global clinical trials market. On the contrary as these clinical trials are performed on humans so the ethical concerns are preventing the conduct of these trials on children (pediatrics) and in the emergency or epidemic situation. Furthermore, only 10 percent of all the drugs started in clinical trials become approved, and the cost involved in conducting these trials are also very high, this impedes the growth of global clinical trials market.
Global clinical trials market is segmented on the basis of clinical trials, disease type, study design, end user, drug class, and region.
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Cancer Dominate the Global Clinical Trials Market
Based on the disease type, global clinical trials market is segmented into infectious diseases, cancer, diabetes, autoimmune disorders, inflammatory diseases, cardiovascular diseases, haematological disorders, neurological disorders, dermatology, and others. Cancer segment dominates the global clinical trials market due its intensifying prevalence. For instance, according to WHO approximately 9.6 million deaths occurred globally due to cancer.
North America Leads the Global Clinical Trials Market
PBI’s global clinical trials market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America dominated the global Clinical Trials market through 2014-2018 and expected to dominate over 2019-2025 due to the presence of key market players, high disposable incomes, technological advancements, quality research, and rise in prevalence of chronic disorders such as cancers. Europe clinical trials market is accounted for a momentous share in global clinical trials market due to the increasing prevalence of chronic diseases among the European population. Moreover, development in healthcare infrastructure, and increase in disposable income in countries such as UK, Germany etc. are also streaming the market growth in Europe region. Asia Pacific clinical trials market is expected to grow expressively due to their increase in the frequency of chronic diseases, emerging economies, development of healthcare infrastructure, and technological advancements. Furthermore, upsurge in the clinical trials majorly in China, South Korea, India, and Japan, obtainability of diseased population, and fewer outlay for clinical trials in Asia Pacific region is anticipated to stream the clinical trials market over the forecast period.
Launch of newer treatment therapies, products, and medical devices and strategic alliances are the key strategies adopted by market players
Global clinical trials market further reveals that the key player’s increasingly adopting strategies such as launch of newer treatment therapies, products, medical devices, and long term alliance to improve market revenue share and gaining significant geographic presence across the region.
For instance, in May 2017, Chiltern International Ltd. declared the acquisition of Integrated Development Associates Co. Ltd. (IDA)
Additionally, In June 2017, Audax private equity acquired the Altasciences Clinical Researches for organizing the clinical trials
Key player’s profiles in the report are Charles River Laboratories International, Inc. (USA), Icon Plc. (Ireland), Quintiles IMS Holdings, Inc. (USA), Kendle International Inc. (USA), Parexel International Corporation (USA), Chiltern International Ltd. (UK), Omnicare Healthcare Co. (USA), Audax Group (USA), Laboratory Corporation of America Holdings (USA), and ProPharma Group (USA).
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Precision Business Insights (PBI) in its report titled “Global Clinical Trials Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
By Clinical Trial Phases
• Phase 0
• Phase 1
• Phase 2
• Phase 3
• Phase 4
By Disease Type
• Infectious diseases
• Autoimmune disorders
• Inflammatory diseases
• Cardiovascular diseases
• Haematological disorders
• Neurological disorders
By Study Design
• Observational trials
• Interventional trials
• Expanded access trials
By End User
• Clinical research organizations
• Pharmaceutical and biotechnology companies
• Research institutes
o North America
• Rest of Europe
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• South Africa
• Rest of MEA
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