Clinical Trials Outsourcing Market To Reach USD 75,573.4 Million by 2030 | CAGR 7.2%
In the recent past, phase 3 clinical trials dominated the industry with over 36% share. Because of an enormous clinical trial in the phase 3 stage and the increased possibilities of failure in clearing this phase, pharma companies look forward to an association with outsourcing partners, which will contribute to the expansion of the industry.
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Also, the phase 3 category will grow considerably in the future because it offers info on potential drug interactions along with drug safety and efficiency. Phase 3 clinical research allows medical pros and researchers a deeper understanding of drugs and side effects associated with them.
North America was the largest contributor in the past, as per P&S intelligence. This is because of the existence of developed healthcare infra, high healthcare spending, the rise in progressive drug research studies, high spending in clinical trials, and the existence of important players.
APAC will experience the fastest growth, advancing at a rate of over 7.5%, in the years to come. This has a lot to do with the improving healthcare infra, growing drug research activities, and increasing incidence of diseases.
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It is because of the growing production of new pharmaceuticals, the demand for clinical trials outsourcing will continue to rise in the coming years as well.
Market Segmentation by Phase
Market Segmentation by End User
• Small & Mid-size Companies
• Large Companies
Market Segmentation by Application
• Cardiovascular Diseases
• Infectious Diseases
• Nervous System Disorder
• Musculoskeletal Diseases
• Gastroenterology Disease
• Other Diseases
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