Clinical Trials Market Size, Share, Key Growth Drivers, Trends, Challenges and Competitive Landscape

Clinical trials market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to grow at a CAGR of 5.15% in the above-mentioned forecast period.

Clinical trials are basically the research studies performed by researchers in people that are aimed to find out a new treatment, like a new drug or diet or medical device. It is also used to find out whether it is safe and effective in people.

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The growing demand for clinical trial in developing countries, growing geriatric population, globalization of clinical trials, technological evolution are the significant factors responsible for driving the growth of the clinical trials market. The leveraging online resources to increase patient recruitment rates in clinical trials is also projected to boost the market's growth. Additionally, the increasing occurrences of chronic diseases coupled with globalizing drug development activities also heighten the overall growth of the market. However, the high cost of these clinical trials obstruct the market's growth. In addition to this, longer approval time is also estimated to hamper the overall growth of the market.

The growing demand of CROs for conducting clinical trials in the pharmaceutical sector due to the diversified expertise of CROs and adoption of advanced technologies in clinical trials are expected to generate profitable opportunities for the market. On the other hand, the lack of skilled worker in operating the devices have the potential to challenge for the market's growth.

Key Market Competitors Covered in the Report

Clinipace Worldwide
LabCorp
Eli Lilly and Company
ICON Plc.
Novo Nordisk
Parexel
Pfizer Inc.
Pharmaceutical Product Development
IQVIA, Roche Holding
Ranbaxy Laboratories
Sanofi Aventis A.S.
Roche Group.
Aaipharma Services Corp
Accell Clinical Research LLC
Aptiv Solutions
Chiltern International Limited
Congenix
Ecron Acunova Ltd
Eurotrials, Medpace Inc
Pharmanet Development Group
PRA International
Siro Clinpharm PVT. LTD
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Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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