Clinical Pharmacology Market 2022 | Industry Outlook, Size, Share and Growth Analysis

According to Precision Business Insights (PBI), the latest report the global clinical pharmacology market is expected to be worth USD 48,376.3 million in 2021 and projected to grow at a 8.5% CAGR over 2022 to 2028. The growing demand for new pharmaceuticals medicines to treat chronic diseases such as cancer, respiratory problems, diabetes, cardiovascular disease, and others is putting enormous strain on the healthcare system. The market is also being driven by the COVID-19 pandemic and the rising desire to create an appropriate therapy. The large number of persons impacted by the disease highlights the growing need for medicines and vaccinations.

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The Phase IV Segment is Dominating the Clinical Pharmacology Market:
The Phase IV segment is anticipated to hold a larger revenue share, and the market is expected to grow at a significant growth rate over the forecast years. The phase IV clinical study is also known as the post-marketing monitoring trial. This is done after the drug has been authorized and made available on the market. The primary goal of a phase IV clinical trial is to investigate the long-term risks and benefits of using the treatment, as well as to evaluate the drug's performance in real-world settings and discover rare adverse effects. Phase IV studies are typically outsourced to contract research organizations (CROs) that handle the entire study, with the CRO and the sponsor sharing around 50% of the labor.

Asia Pacific Leads Clinical Pharmacology Market:
The Asia Pacific is expected to hold a significant market share in the global clinical pharmacology market and is projected to grow at a prominent growth rate over the forecast years, increasing the prevalence of diseases, increasing emphasis on creating medications for uncommon diseases, and increasing government backing for the construction of outsourcing hubs. Furthermore, the rising economy and cheap cost of managing clinical trial facilities in countries such as China, India, and Australia are propelling regional market expansion.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
The global Clinical Pharmacology market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In June 2015, IQVIA (US) and PRA Health Sciences (US), two leading companies in pharmaceuticals, announced that with new predictive and advanced analytics technology, they plan to improve the performance in clinical trials and improve safety issues.

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The clinical pharmacology market is segmented based on phase, study design, by therapeutic area and geography:
Based on the Phase, the market is segmented into the following:
• Phase I
• Phase II
• Phase III
• Phase IV

Based on the Study Design, the market is segmented into the following:
• Interventional Study
• Observational Study
• Expanded Access Study

Based on the Therapeutic Area, the market is segmented into the following:
• Autoimmune Disease
• Oncology
• Cardiology
• Infectious Disease
• Dermatology
• Ophthalmology
• Others

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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Key player's profiles in the clinical pharmacology market report are IQVIA (Us), Labcorp (Us), Charles River Laboratories (Us), Wuxi Apptec (China), Syneos Health (Us), Parexel International (Us), PPD (Us), Icon Plc (Us), Medpace Holdings (Us), SGS (Switzerland).

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This release was published on openPR.