openPR Logo
Press release

Clinical Trials Market worth $52.0 billion by 2026 - Leading Key Players are IQVIA (US), LabCorp (US), Charles River Laboratories (US)

03-02-2022 09:13 AM CET | Health & Medicine

Press release from: MarketsandMarkets™ INC

Clinical Trials Market

Clinical Trials Market

According to the new market research report "Clinical Trials Market by Phase (Phase I, II, III), Service Type (Site Identification, Laboratory Services, Decentralized Clinical Trial), Therapy Area (Oncology, Infectious Disease), and Application (Vaccines, Cell & Gene Therapy) - Global Forecast to 2026", published by MarketsandMarkets™, is projected to reach USD 52.0 billion by 2026 from USD 38.7 billion in 2021, at a CAGR of 6.1% during the forecast period.

Browse in-depth TOC on "Clinical Trials Market"
324 - Tables
59 - Figures
317 - Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=405

The Factors such as growing R&D expenditure, increasing outsourcing of R&D activities, and the rising number of clinical trials worldwide are driving the growth of the global clinical trial market. The growing biosimilars and biologics market, rising demand for specialized testing services, and emerging Asian markets also offer significant growth opportunities for players operating in the market. However, a shortage of skilled professionals may challenge the markets growth to a certain extent.

Phase III segment accounted for the largest share of clinical trials market

Based on phase, the market is segmented into phases I, II, III, and IV. Phase III dominated the market in 2020. Services that incur high expenses and large patient/population size are the key factors attributing to the high share of the Phase III segment.

Laboratory services segment accounted for the largest share of the clinical trials market

Based on service type, the market is segmented into protocol designing, site identification, patient recruitment, laboratory services, bioanalytical testing, analytical testing, clinical trial supply & logistic services, decentralized clinical services, clinical trial data management services, medical device testing services, and other services. Laboratory services is the leading segment of clinical trial services market, this can be attributed to the increasing preference of clinical research professionals to outsource such services. Among all the aspects of conducting clinical trials (such as protocol designing, site identification, and patient recruitment, among others), laboratory services have witnessed comparatively high outsourcing rates in the past few years, thus contributing to the growth of this segment.

Oncology segment accounted for the largest share of the clinical trials market

Based on the therapy area, the clinical trial market is segmented into oncology, infectious diseases, cardiology, neurology, womens health, genetic diseases, immunology, and other therapeutic areas. The large share of oncology segment is primarily attributed to the increasing number of drug discovery activities for oncology and the rising prevalence of cancer worldwide.

Small molecules segment accounted for the largest share of clinical trials market

The market is segmented into small molecules, vaccines, cell & gene therapy, and others based on application. Small molecules is the key driver of the clinical trials application market, regardless of the synthetic method and materials used, small molecules are able to retain their chemical identity as opposed to sensitive biologics candidates, which has contributed to the robust demand for small molecule drug candidates. The majority of the patented drugs marketed in the past five years have been small molecules and generics of these patented drugs.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=405

North America accounted for the largest share of the clinical trials market

The market is segmented into North America, Europe, the Asia Pacific (APAC), Latin America (LATAM), and the Middle East and Africa (MEA). In 2020, North America accounted for the largest share of the market, followed by Europe. The large share of the North American regional segment can be attributed to presence of a well-established base of pharmaceutical & biopharmaceutical companies, and high investments in the biosimilars & biologics market space.

The prominent players operating in the clinical trials market are IQVIA (US), LabCorp (US), Charles River Laboratories (US), WuXi AppTec (China), Syneos Health (US), PPD (US), and ICON Plc (US).

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=405

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Clinical Trials Market worth $52.0 billion by 2026 - Leading Key Players are IQVIA (US), LabCorp (US), Charles River Laboratories (US) here

News-ID: 2566771 • Views: 168

More Releases from MarketsandMarkets™ INC

Microscopy Market worth $9.5 billion by 2027 - Exclusive Report by MarketsandMar …
Microscopy Market is projected to grow from USD 7.2 billion in 2022 to USD 9.5 billion by 2027, at a CAGR of 5.8% from 2022 to 2027, according to a new report by MarketsandMarkets™. Factors such as advancement in technology of microscopes, growing interest of nanotechnology and regenerative medicines, better regulatory procedures along with growing application scope and high demand from key end users are driving the market growth. Moreover,
Bariatric Surgery Devices Market worth $2.4 billion by 2027 - Exclusive Report b …
Bariatric Surgery Devices Market is projected to grow from USD 1.9 billion in 2022 to USD 2.4 billion by 2027, at a CAGR of 5.4% from 2022 to 2027, according to a new report by MarketsandMarkets™. Emerging countries have offered significant growth opportunities to major market players, which is further expected to support market growth. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=173150134 Browse in-depth TOC on "Bariatric Surgery Devices Market" 130 - Tables 35 -
Veterinary Diagnostics Market worth $4.4 billion by 2027 - Exclusive Report by M …
Veterinary Diagnostics Market is projected to grow from USD 2.8 billion in 2022 to USD 4.4 billion by 2027, at a CAGR of 9.2% from 2022 to 2027, according to a new report by MarketsandMarkets™. The growth can largely be attributed to the growth in the companion animal population, the increasing incidence of transboundary and zoonotic diseases and the rising demand for animal-derived food products. A surge in the overall
Nuclear Medicine Market by 2026 - Global Trends, Share Analysis, Leading Players …
The nuclear medicine market is projected to reach USD 7.5 billion by 2026, growing at a CAGR of 9.0% during the forecast period. Increasing incidence and prevalence of target conditions; The rising incidence and prevalence of cancer and cardiovascular disease (CVD) is a key factor supporting market growth. Most cases can be prevented through early detection and treatment; nuclear medicine plays a significant role in these areas. According to the WHO, cancer

All 5 Releases


More Releases for MarketsandMarkets

Automotive Engineering Services Market | MarketsandMarkets
Automotive engineering services deal with the design and development of automotive components and related technologies to address complex technical challenges in the vehicle development value chain. The engineering service process starts with conceptualization, designing, prototyping, system integration, and testing. Automotive engineering services include vehicle connectivity services, ADAS (advanced driver-assistance systems) and safety systems, interior & exterior design and body engineering services, passenger comfort, and others. These services assess different areas
Automotive Cybersecurity Market Trends & Insights | MarketsandMarkets
According to the new market research report "Automotive Cybersecurity Market by Form (In-Vehicle, External Cloud Services), Offering (Hardware & Software), Security, Application Type, Vehicle Type, Propulsion, Vehicle Autonomy, Approach, EV Application, and Region - Global Forecast to 2026", Published by MarketsandMarkets™, The global Automotive Cybersecurity Market size is projected to grow from USD 2.0 billion in 2021 to USD 5.3 billion by 2026, at a CAGR of 21.3%. Increasing sales
Global Brake Friction Products Market | MarketsandMarkets
According to the new market research report "Brake Friction Products Market (OE & Aftermarket) by Type (Brake Disc, Pad, Drum, Shoe, Liner), Disc Type (Metallic, Composite, Ceramic), Liner Type (Molded, Woven), Vehicle Type (ICE, Electric, PHEV, OHV), and Region - Global Forecast to 2026", published by MarketsandMarkets™, The Brake Friction Products Market is projected to reach USD 13.3 billion by 2026 from USD 10.8 billion in 2021, at a CAGR
Global Electric Commercial Vehicle Market | MarketsandMarkets
The Global Electric Commercial Vehicle Market size is projected to reach 2,026 thousand units by 2028 from a projected 129 thousand units in 2020, at a CAGR of 41.1%. The electric commercial vehicle segment has witnessed rapid evolution with governments across the world promoting electrification of public transport fleets and with the increasing demand for zero-emission vehicles in the eCommerce and logistics sector. Advancements in battery pack technologies and electric powertrains
Global Automotive Glass Market | MarketsandMarkets
The Automotive Glass Market is projected to grow at a CAGR of 4.80%, to reach a market size of $23.59 billion by 2025. The global market is driven by increasing vehicle production (especially in the SUV segment), upcoming smart glass & device embedded glass technologies, and increasing glass applications to improve the aesthetics of the car. The key players in the automotive glass market are Saint-Gobain (France), Asahi Glass (Japan), Fuyao
Automotive Logistics Market | MarketsandMarkets
The Automotive Logistics Market is estimated to be $284.1 billion in 2018 and is projected to reach $472.9 billion by 2025, at a CAGR of 7.55%. Increasing vehicle production, upcoming infrastructure projects, and the advent of electric vehicles are the major reasons for market growth. The automotive logistics market is consolidated and dominated by a few global players. The key players in the market are DHL (Germany), XPO (US), SNCF (France),