Clinical Trials Market Size to Gain Traction of US$ 83.5 Billion, Growth Opportunities by 2030 due to Increase in Incidence Rate of Chronic Diseases

According to the report, the global clinical trials market was valued over US$ 46.7 Bn in 2019 and estimated to cross US$ 83.5 Bn by the end of 2030 at a CAGR of 5.4% from 2020 to 2030. High prevalence and increase in incidence rate of chronic diseases, and rise in R&D activities in biotechnology & pharmaceuticals industries are anticipated to drive the global clinical trials market from 2020 to 2030. North America is projected to be a highly attractive market during the forecast period. The region is anticipated to account for the largest share of the global market by 2030. The market in the region is expected to grow at a rapid pace from 2020 to 2030. Increase in R&D and rise in adoption of new technologies in clinical research are likely to propel the market in North America. The incorporation of virtual services in the clinical trial protocol by market players such as IQVIA and PRA Health Sciences is projected to boost the market in North America.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 (𝐔𝐬𝐞 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐌𝐚𝐢𝐥 𝐈𝐝 𝐟𝐨𝐫 𝐐𝐮𝐢𝐜𝐤 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=78053

Europe is anticipated to be the second most attractive market for clinical trials during the forecast period. Support from the government for activities such as research & development for new treatment procedures and upcoming infectious diseases, along with chronic diseases are expected to drive the clinical trials market in Europe during the forecast period.

The market in Asia Pacific is expected to expand at the highest CAGR from 2020 to 2030. Increase in the number of clinical trials and biotechnology firms in Asia Pacific is projected to drive the clinical trials market in the region over the next few years.

𝐇𝐢𝐠𝐡 𝐏𝐫𝐞𝐯𝐚𝐥𝐞𝐧𝐜𝐞 𝐚𝐧𝐝 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐢𝐧 𝐈𝐧𝐜𝐢𝐝𝐞𝐧𝐜𝐞 𝐑𝐚𝐭𝐞 𝐨𝐟 𝐂𝐡𝐫𝐨𝐧𝐢𝐜 𝐃𝐢𝐬𝐞𝐚𝐬𝐞𝐬 𝐭𝐨 𝐃𝐫𝐢𝐯𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

Chronic diseases such as chronic respiratory diseases (CRD), diabetes, chronic kidney diseases (CKD), cancer, cardiac stroke, and neurological disorders are the leading causes of disability and mortality across the globe. The emergence and outbreak of various infectious and chronic diseases have created challenges and new opportunities for researchers to develop new diagnostic tools, tests, drugs, and vaccines for early diagnosis, prevention, and cure of such diseases. Hepatitis and HIV are the other major infectious diseases. According to the World Health Organization (WHO), as of October 2017, around 71 million people across the world were estimated to have hepatitis C infection. The WHO also stated that 36.7 million people were affected with HIV across the globe. These factors contribute to the growth of the global clinical trials market.

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐑&𝐃 𝐀𝐜𝐭𝐢𝐯𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐁𝐢𝐨𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐚𝐧𝐝 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐞𝐮𝐭𝐢𝐜𝐚𝐥𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 𝐏𝐫𝐨𝐩𝐞𝐥𝐬 𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭

Clinical research organizations, diagnostic laboratories, and biotechnology players are engaged in the development of newer diagnostic tests to address the unmet needs in the healthcare industry. The life science industry's R&D spending is driven primarily by the mass and research intensity of the biopharmaceutical sector, which accounts for nearly 85% of all expenditures. The acceleration in biopharmaceutical R&D innovation, buoyed by several contributing factors such as precision medicine getting into gear in rare diseases, cancer, and autoimmune diseases; immunotherapy, expansion of therapeutic modalities exploiting natural and synthetic biology innovation, and expedited regulatory pathways boost the growth of the clinical trials market.

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 | 𝐈𝐦𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐃𝐞𝐥𝐢𝐯𝐞𝐫𝐲 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐚𝐭 - https://www.transparencymarketresearch.com/checkout.php?rep_id=78053<ype=S

𝐏𝐡𝐚𝐬𝐞 𝐈𝐈𝐈 𝐭𝐨 𝐃𝐨𝐦𝐢𝐧𝐚𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

In terms of phase, the global clinical trials market has been divided into phase I, phase II, phase III, and phase IV. The phase III segment held major market share in 2019 and the trend is projected to continue during the forecast period. The segment is anticipated to register the highest market attractiveness during the forecast period.

𝐎𝐧𝐜𝐨𝐥𝐨𝐠𝐲 𝐭𝐨 𝐛𝐞 𝐌𝐚𝐣𝐨𝐫 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐢𝐨𝐧

Based on indication, the global clinical trials market has been classified into autoimmune/inflammation, pain management, cardiovascular, CNS condition, oncology, diabetes, obesity, and others. The oncology segment accounted for major share of 23.5% of the global clinical trials market in 2019. The oncology segment is anticipated to create incremental opportunity of US$ 8,758.5 Mn during the forecast period. The segment is projected to capture 24.4% market share by 2030. The segment is expected to expand at a high CAGR of 5.8% from 2020 to 2030. The growth of the segment can be attributed to increase in the number of clinical trials in the oncology segment.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞 𝐢𝐧 𝐂𝐥𝐢𝐧𝐢𝐜𝐚𝐥 𝐓𝐫𝐢𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

The report provides profiles of leading players operating in the global clinical trials market. These include Laboratory Corporation of America Holdings, IQVIA, Inc., Syneos Health, Parexel International Corporation, PRA Health Sciences, Inc., PPD, Inc., Icon plc, Charles River Laboratories, Inc., WuXi AppTec, and Medpace Holdings, Inc.

𝐆𝐥𝐨𝐛𝐚𝐥 𝐂𝐥𝐢𝐧𝐢𝐜𝐚𝐥 𝐓𝐫𝐢𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

𝐂𝐥𝐢𝐧𝐢𝐜𝐚𝐥 𝐓𝐫𝐢𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐛𝐲 𝐏𝐡𝐚𝐬𝐞
Phase I
Phase II
Phase III
Phase IV

𝐂𝐥𝐢𝐧𝐢𝐜𝐚𝐥 𝐓𝐫𝐢𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐛𝐲 𝐒𝐭𝐮𝐝𝐲 𝐃𝐞𝐬𝐢𝐠𝐧
Interventional Trials
Observational Trials
Expanded Access Trials

𝐂𝐥𝐢𝐧𝐢𝐜𝐚𝐥 𝐓𝐫𝐢𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐛𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐢𝐨𝐧
Autoimmune/Inflammation
Pain Management
Cardiovascular
CNS Condition
Oncology
Diabetes
Obesity
Others

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 -

𝐃𝐫𝐮𝐠 𝐝𝐞𝐯𝐢𝐜𝐞 𝐂𝐨𝐦𝐛𝐢𝐧𝐚𝐭𝐢𝐨𝐧 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2022/04/19/2424699/0/en/Drug-device-Combination-Products-Market-to-Expand-at-CAGR-of-7-3-During-Forecast-Period-Notes-TMR-Study.html

𝐄𝐥𝐝𝐞𝐫𝐥𝐲 𝐚𝐧𝐝 𝐃𝐢𝐬𝐚𝐛𝐥𝐞𝐝 𝐀𝐬𝐬𝐢𝐬𝐭𝐢𝐯𝐞 𝐃𝐞𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.einpresswire.com/article/576728332/elderly-and-disabled-assistive-devices-market-to-garner-us-31-6-bn-by-2028-at-5-3-cagr-finds-tmr

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬

Nikhil Sawlani
Transparency Market Research Inc.
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