Press release
Global Clinical Trials Market Projected to Reach USD 67 Billion by 2029, Driven by Increased R&D Spending and Rising Disease Prevalence
Clinical Trials Market
The Clinical Trials Market is projected to be valued at USD 50 billion in 2024 and is anticipated to grow to USD 67 billion by 2029, with a compound annual growth rate (CAGR) of 5.91% during the forecast period (2024-2029). The growing demand for clinical trials in emerging markets, coupled with rising research and development (R&D) investments by pharmaceutical and biopharmaceutical companies.
Report Overview - https://www.mordorintelligence.com/industry-reports/clinical-trials-market
Key Trends Driving the Clinical Trials Market
1. Escalating R&D Investments
Pharmaceutical and biopharmaceutical firms are substantially increasing their R&D budgets to accelerate drug discovery and development. For instance, Bayer AG invested USD 16,211 million in R&D in FY 2022, up from USD 15,310 million in FY 2021. Similarly, Pfizer Inc. allocated USD 11,428 million to R&D in FY 2022, compared to USD 10,360 million in the previous year. These investments are expected to propel clinical trial activities, fostering market growth.
2. Rising Disease Prevalence
The global surge in chronic and infectious diseases necessitates the development of new therapeutic interventions. This demand is driving an increase in clinical trials aimed at evaluating the efficacy and safety of novel treatments, thereby contributing to market expansion.
3. Impact of COVID-19
The COVID-19 pandemic underscored the critical role of clinical trials in developing vaccines and treatments. The urgency led to a significant uptick in clinical trial activities, highlighting the importance of efficient trial processes and fostering innovations such as decentralized clinical trials.
4. Decentralization of Clinical Trials
The adoption of decentralized clinical trials, which utilize digital technologies to conduct studies remotely, is gaining momentum. This approach enhances patient participation, reduces costs, and improves data accuracy, thereby streamlining the clinical trial process.
Market Segmentation
1. By Phase
Phase I: Initial trials assessing safety and dosage in a small group of healthy volunteers or patients.
Phase II: Studies evaluating efficacy and side effects in a larger patient cohort.
Phase III: Large-scale trials confirming effectiveness, monitoring side effects, and comparing with standard treatments.
Phase IV: Post-marketing studies gathering additional information on risks, benefits, and optimal use.
2. By Design
Treatment Studies: Investigations focusing on new treatments or new ways of using existing treatments.
Observational Studies: Research observing outcomes without intervention from the researchers.
3. By Indication
Oncology: Clinical trials targeting various cancers.
Cardiovascular Diseases: Studies focusing on heart and blood vessel conditions.
Neurology: Trials addressing neurological disorders.
Infectious Diseases: Research on treatments for infections caused by bacteria, viruses, fungi, or parasites.
Other Indications: Includes trials for autoimmune diseases, metabolic disorders, etc.
4. By Geography
North America: Leading the market due to advanced healthcare infrastructure and substantial R&D investments.
Europe: Significant market share with a strong focus on clinical research and development.
Asia-Pacific: Rapid growth driven by increasing clinical trial activities and improving healthcare facilities.
Middle East and Africa: Emerging market with growing interest in clinical research.
South America: Developing market with expanding clinical trial initiatives.
Get a Customized Report Tailored to Your Requirements:- https://www.mordorintelligence.com/market-analysis/clinical-trial-services
Key Players
The clinical trials market is characterized by the presence of several major players actively contributing to its growth:
Laboratory Corporation of America
Caidya
ICON plc
Eli Lilly and Company
IQVIA Inc.
These companies are investing in research and development, forming strategic partnerships, and adopting advanced technologies to enhance their clinical trial processes and maintain a competitive edge.
Conclusion
The global clinical trials market is on a robust growth trajectory, propelled by increased R&D spending, rising disease prevalence, and innovations in trial methodologies. The shift towards decentralized clinical trials and the integration of digital technologies are set to revolutionize the landscape, making trials more efficient and accessible. As key players continue to invest in advanced solutions and strategic collaborations, the market is expected to expand, offering improved opportunities for the development of new therapies and enhancing patient outcomes worldwide.
Industry Related Reports
Oncology Clinical Trials Market: The Oncology Clinical Trials Market Report is categorized by phase (Phase I, Phase II, Phase III, and Phase IV), design (Treatment Studies and Observational Studies), cancer type (Lung Cancer, Breast Cancer, Leukemia, Prostate Cancer, and Other Cancer Types), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America).
To know more visit this link: https://www.mordorintelligence.com/industry-reports/oncology-clinical-trials-market
Pediatric Clinical Trails Market: The report explores the Pediatric Clinical Trials Market, segmented by phase (Phase I, Phase II, Phase III, and Phase IV), study design (Treatment Studies and Observational Studies), therapeutic area (Respiratory Diseases, Infectious Diseases, Oncology, Diabetes, and Other Therapeutic Areas), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America).
To know more visit this link: https://www.mordorintelligence.com/industry-reports/pediatric-clinical-trails-market
Mental Health Clinical Trials Market: The Mental Health Clinical Trials Market Report is categorized by study design (Interventional, Observational, and Expanded Access), phase (Phase I, Phase II, Phase III, and Phase IV), disorder type (Anxiety Disorders, Depression, Dissociation and Dissociative Disorders, Schizophrenia, Bipolar Affective Disorder, and Other Disorders), sponsor (Pharmaceutical and Biopharmaceutical Companies, Government Agencies, and Other Sponsors), and geography (North America, Europe, Asia-Pacific, and Middle East and Africa).
To know more visit this link: https://www.mordorintelligence.com/industry-reports/mental-health-clinical-trials-market
For any inquiries or to access the full report, please contact:
media@mordorintelligence.com
https://www.mordorintelligence.com/
About Mordor Intelligence:
Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals.
With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.
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 Global Clinical Trials Market Projected to Reach USD 67 Billion by 2029, Driven by Increased R&D Spending and Rising Disease Prevalence here
News-ID: 3766818 • Views: …
More Releases from Mordor Intelligence
Military Antenna Market Expected to Reach USD 6.15 Billion by 2030, Driven by Ri …
Introduction
The military antenna market size stood at USD 4.56 billion in 2025 and is forecasted to reach USD 6.15 billion by 2030, advancing at a 6.17% CAGR. The increasing demand for robust, high-bandwidth, and agile communication systems across ground, air, sea and space platforms is driving this expansion, as militaries modernize their communication infrastructure to support multi-domain operations and growing satellite-based communication needs.
As global defense spending…
Poland Solar Energy Market to Reach 35 GW by 2030, Driven by Utility Auctions, R …
A new report from Mordor Intelligence on the "Poland Solar Energy Market" provides an in-depth analysis of current trends, key growth factors, and upcoming opportunities.
The poland solar energy market is entering a decisive growth phase, with installed capacity projected to expand from 24.75 GW in 2025 to 35 GW by 2030, reflecting a steady 7.18% CAGR. This trajectory underscores Poland's ongoing transition away from coal and toward renewable energy sources,…
Deodorants Market Size to Reach USD 36.43 Billion by 2030, Driven by Natural For …
Introduction: Growing Demand Steering the Global Deodorants Market
The global deodorants market is set to increase from USD 26.65 billion in 2025 to USD 36.43 billion by 2030, supported by evolving personal hygiene habits and rising interest in cleaner, skin-friendly formulations. As daily grooming routines expand across both mature and developing regions, deodorants have become a staple product rather than an optional add-on. Consumers are now evaluating deodorants not only…
US Packaging Industry Forecast to Hit USD 254.01 Billion by 2030 | E-Commerce Gr …
Mordor Intelligence has published a new report on the packaging industry in united states, offering a comprehensive analysis of trends, growth drivers, and future projections.
United States Packaging Industry Overview
The United States packaging industry is projected to experience steady growth in the coming years. Valued at USD 208.98 billion in 2025, the market is expected to reach USD 254.01 billion by 2030, growing at a CAGR of 3.98% during…
More Releases for Phase
Three-Phase Hybrid Inverter Market Efficient and Reliable Power Conversion Solut …
Global Three-Phase Hybrid Inverter Market Overview:
The Three-Phase Hybrid Inverter market is a broad category that includes a wide range of products and services related to various industries. This market comprises companies that operate in areas such as consumer goods, technology, healthcare, and finance, among others.
In recent years, the Three-Phase Hybrid Inverter market has experienced significant growth, driven by factors such as increasing consumer demand, technological advancements, and globalization. This growth…
Clinical Trials by Phase (Phase I, Phase II, Phase III, Phase IV) Market Forecas …
A clinical trial is a research study, where a group of people is given a test or treatment. Clinical trials study the safety and efficacy of tests and treatments. If the test or treatment is safe and meets regulatory requirements, then it is approved as a standard of care.
Download Sample Copy at https://www.theinsightpartners.com/sample/TIPRE00006203/?utm_source=OpenPR&utm_medium=10379
Key Players Analysis:
IQVIA
Parexel International Corporation
Charles River Laboratories
ICON plc
SGS SA
Chiltern International Ltd
Syneos Health
PRA Health Sciences
Wuxi AppTec Inc
Pharmaceutical Product Development,…
Digital Phase Shifters Market
Digital Phase Shifters Market A recently identified vacuum in the literature about the creation of digital phase shifters for modern communication systems is attempted to be filled in the book Design of Digital Phase Shifters for Multipurpose Communication Systems. By significantly reducing RF power consumption and improving noise immunity, directed beams enhance the development of new-generation mobile communication systems. In this regard, digital phase shifters in particular, which are part…
COVID-19 - Pipeline Analysis 2020 for Global Market | Emphasis on Products cover …
COVID-19 (also known as Anderson COVID-19)?is a viral disease caused by RNA virus, SARS-CoV-2 or commonly known as corona virus. These viruses can cause respiratory, enteric, hepatic, and neurologic diseases. At the end of 2019, a new coronavirus was identified as the cause of a cluster of pneumonia cases in Wuhan, China. It rapidly spread, resulting in an epidemic throughout China, followed by an increasing number of cases in other…
Power Metering Market Information by type (smart, digital, analog), by phase (si …
Power Metering Market Information by type (smart, digital, analog), by phase (single phase, three phase) by application (residential, commercial and industrial) and Region - Forecast to 2022
The report for Global Power Metering Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and…
HIV Vaccines Market Perceive Aggrandized Growth at a CAGR of 11.48% Till 2023 | …
HIV Vaccines Market Report Added on MarketResearchFuture.com with Overall Analysis. Key developments and Strategies Cover in this Report. The Market for Expected to Grow Globally Over the CAGR of 5 % During the Period 2018 to 2027 from USD 2,702.3 Billion in 2027.
HIV Vaccines Market - Segmentation
The global HIV vaccines market has been segmented on the basis of basis of antibiotics, type, and lastly, region.
Antibiotics have been segmented into dicloxacillin,…
