Clinical Trials Market
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Clinical Trials Market Overview
The report is titled as ‘Clinical Trials Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the clinical trials market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. Clinical trials market is expected to grow with significant rate in the near future.
The clinical trials market in 2020 is accounted for more than US$ 45.3 Bn and expected to reach at a value of US$ 73.7 Bn by 2028 with a significant CAGR of 6.3%.
Clinical Trials Introduction
Healthy margins and little risk associated with manufacturing operations, majority of pharmaceutical companies opt to keep their manufacturing activities close to domestic market. However, financial pressures and shrinking R&D budgets have made pharmaceutical companies to go offshore for clinical trials. Thus outsourcing of clinical trials is emerging as a prominent trend in global market. Clinical trials account for two-third of the total cost of drug development. The leading pharmaceutical companies conduct their clinical trials in familiar territory, with most of trials taking place in the U.S. and Europe.
Clinical Trials Market Dynamics
Unprecedented growth in pipeline activities of global pharmaceutical and biopharmaceutical companies drives the growth of global clinical trials market. Outsourcing of clinical trials is growing at the rapid pace which is expected to further drive the growth of global clinical trials market.
Expanding R&D budget is another important factor driving growth of global clinical trials market. Introduction of clear regulatory pathways in many developing countries such as India, China, and Turkey etc. is attracting global pharmaceutical companies to launch their drugs in these regions. Thus companies are conducting multiple clinical trials in several territories at the same time.
However, risks associated with failure of clinical trials discourage the companies from developing new drug, which is the limiting factor for global clinical trials market.
Clinical Trials Market Key Players
Some of the key players identified in global clinical trials market are Quintiles IMS, Paraxel International Corporation, ICON PLC, Chiltern International Ltd., BIOCLINICA, MEDIDATA, BIO – OPTRONICS, SPARTA SYSTEMS etc. among others.
Clinical Trials Market Segmentation
The global clinical trials market is segmented on the basis of phase, indication, and region. By phase, global market is segmented in to phase 1, phase 2, phase 3 and phase 4. On the basis of indication, the global clinical trials market is segmented into oncology, pain management, autoimmune diseases, CNS diseases, obesity, diabetes, cardiovascular diseases and others.
Clinical Trials Market Regional Segmentation Overview
On the basis of region, the global clinical trials market is segmented into six regions namely North America, Latin America, Asia Pacific, Europe, Middle East, and Africa.
North America clinical trials market is expected to be the most dominating market throughout the forecast period due to presence of strong pharmaceutical companies. Asia Pacific region is expected to witness unprecedented growth. India and China are emerging as a choice of clinical trial destinations for many pharmaceutical companies.
Over the past decade, South Africa has become an important destination for many international pharmaceutical companies looking to carry out clinical trials due to low cost resources.
MMC Overview on Clinical Trials Market Report
The non-identical approach of Reports and Insights stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give better opportunity for the customers to put their effort.
A research report on the Clinical Trials market by Reports and Insights is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that supports market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Reimbursement
Concerns for use of Clinical Trials products
Advantages of Clinical Trials
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.
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1. Global Clinical Trials Market Report Overview
1.1. Introduction
1.2. Report Description
1.3. Methodology
2. Global Clinical Trials Market Overview
2.1. Introduction
2.1.1. Introduction
2.1.2. Market Taxonomy
2.2. Executive Summary
2.3. Global Clinical Trials Market Snapshot
2.4. Global Clinical Trials Market Size and Forecast, 2020–2028
2.4.1. Introduction
2.4.2. Market Value Forecast and Annual Growth Rate (AGR) Comparison (2020–2028)
2.5. Global Clinical Trials Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunity
2.5.4. Trends
2.6. Key Regulations
2.7. Porter’s Five Forces Model
3. Global Clinical Trials Market, By Phase
3.1. Introduction
3.1.1. Annual Growth Rate Comparison, By Phase
3.1.2. BPS Analysis, By Phase
3.2. Market Revenue (US$Mn) Forecast, By Phase
3.2.1. Phase 1
3.2.2. Phase 2
3.2.3. Phase 3
3.2.4. Phase 4
3.3. Global Clinical Trials Market Attractiveness Index, By Phase
4. Global Clinical Trials Market, By Indication
4.1. Introduction
4.1.1. Annual Growth Rate Comparison, By Indication
4.1.2. BPS Analysis, By Indication
4.2. Market Revenue (US$Mn) Forecast, By Indication
4.2.1. Oncology
4.2.2. Pain Management
4.2.3. Autoimmune Diseases
4.2.4. CNS Diseases
4.2.5. Obesity
4.2.6. Diabetes
4.2.7. Cardiovascular Diseases
4.2.8. Others
4.3. Global Clinical Trials Market Attractiveness Index, By Indication
5. Global Clinical Trials Market, By Region
5.1. Introduction
5.1.1. Annual Growth Rate Comparison, By Region
5.1.2. BPS Analysis, By Region
5.2. Market Revenue (US$Mn) Forecast, By Region
5.2.1. North America
5.2.2. Latin America
5.2.3. Europe
5.2.4. Asia Pacific
5.2.5. Middle East
5.2.6. Africa
5.3. Global Clinical Trials Market Attractiveness Index, By Region
6. North America Clinical Trials Market Analysis and Forecast, 2020–2028
6.1. Introduction
6.1.1. Annual Growth Rate Comparison, By Country
6.1.2. BPS Analysis, By Country
6.2. Market Revenue (US$Mn) Forecast, By Country
6.2.1. U.S. Clinical Trials Market
6.2.2. Canada Clinical Trials Market
6.3. North America Clinical Trials Market, By Phase
6.3.1. Phase 1
6.3.2. Phase 2
6.3.3. Phase 3
6.3.4. Phase 4
6.4. North America Clinical Trials Market, By Indication
6.4.1. Oncology
6.4.2. Pain Management
6.4.3. Autoimmune Diseases
6.4.4. CNS Diseases
6.4.5. Obesity
6.4.6. Diabetes
6.4.7. Cardiovascular Diseases
6.4.8. Others
6.5. North America Clinical Trials Market Attractiveness Index
6.5.1. By Country
6.5.2. By Phase
6.5.3. By Indication
7. Latin America Clinical Trials Market Analysis and Forecast, 2020–2028
7.1. Introduction
7.1.1. Annual Growth Rate Comparison, By Country
7.1.2. BPS Analysis, By Country
7.2. Market Revenue (US$Mn) Forecast, By Country
7.2.1. Brazil Clinical Trials Market
7.2.2. Mexico Clinical Trials Market
7.2.3. Argentina Clinical Trials Market
7.2.4. Rest of Latin America Clinical Trials Market
7.3. Latin America Clinical Trials Market, By Phase
7.3.1. Phase 1
7.3.2. Phase 2
7.3.3. Phase 3
7.3.4. Phase 4
7.4. Latin America Clinical Trials Market, By Indication
7.4.1. Oncology
7.4.2. Pain Management
7.4.3. Autoimmune Diseases
7.4.4. CNS Diseases
7.4.5. Obesity
7.4.6. Diabetes
7.4.7. Cardiovascular Diseases
7.4.8. Others
7.5. Latin America Clinical Trials Market Attractiveness Index
7.5.1. By Country
7.5.2. By Phase
7.5.3. By Indication
8. Europe Clinical Trials Market Analysis and Forecast, 2020–2028
8.1. Introduction
8.1.1. Annual Growth Rate Comparison, By Country
8.1.2. BPS Analysis, By Country
8.2. Market Revenue (US$Mn) Forecast, By Country
8.2.1. U.K. Clinical Trials Market
8.2.2. Germany Clinical Trials Market
8.2.3. Italy Clinical Trials Market
8.2.4. France Clinical Trials Market
8.2.5. Spain Clinical Trials Market
8.2.6. Russia Clinical Trials Market
8.2.7. Poland Clinical Trials Market
8.2.8. BENELUX Clinical Trials Market
8.2.9. NORDIC Clinical Trials Market
8.2.10. Rest of Europe Clinical Trials Market
8.3. Europe Clinical Trials Market, By Phase
8.3.1. Phase 1
8.3.2. Phase 2
8.3.3. Phase 3
8.3.4. Phase 4
8.4. Europe Clinical Trials Market, By Indication
8.4.1. Oncology
8.4.2. Pain Management
8.4.3. Autoimmune Diseases
8.4.4. CNS Diseases
8.4.5. Obesity
8.4.6. Diabetes
8.4.7. Cardiovascular Diseases
8.4.8. Others
8.5. Europe Clinical Trials Market Attractiveness Index
8.5.1. By Country
8.5.2. By Phase
8.5.3. By Indication
9. Asia Pacific Clinical Trials Market Analysis and Forecast, 2020–2028
9.1. Introduction
9.1.1. Annual Growth Rate Comparison, By Country
9.1.2. BPS Analysis, By Country
9.2. Market Revenue (US$Mn) Forecast, By Country
9.2.1. China Clinical Trials Market
9.2.2. India Clinical Trials Market
9.2.3. Japan Clinical Trials Market
9.2.4. Australia And New Zealand Clinical Trials Market
9.2.5. South Korea Clinical Trials Market
9.2.6. ASEAN Clinical Trials Market
9.2.7. Rest of Asia Pacific Clinical Trials Market
9.3. Asia Pacific Clinical Trials Market, By Phase
9.3.1. Phase 1
9.3.2. Phase 2
9.3.3. Phase 3
9.3.4. Phase 4
9.4. Asia Pacific Clinical Trials Market, By Indication
9.4.1. Oncology
9.4.2. Pain Management
9.4.3. Autoimmune Diseases
9.4.4. CNS Diseases
9.4.5. Obesity
9.4.6. Diabetes
9.4.7. Cardiovascular Diseases
9.4.8. Others
9.5. Asia Pacific Clinical Trials Market Attractiveness Index
9.5.1. By Country
9.5.2. By Phase
9.5.3. By Indication
10. Middle East Clinical Trials Market, By Region
10.1. Introduction
10.1.1. Annual Growth Rate Comparison, By Country
10.1.2. BPS Analysis, By Country
10.2. Market Revenue (US$Mn) Forecast, By Country
10.2.1. GCC Countries Clinical Trials Market
10.2.2. Israel Clinical Trials Market
10.2.3. Oman Clinical Trials Market
10.2.4. Rest of Middle East Clinical Trials Market
10.3. Middle East Clinical Trials Market, By Phase
10.3.1. Phase 1
10.3.2. Phase 2
10.3.3. Phase 3
10.3.4. Phase 4
10.4. Middle East Clinical Trials Market, By Indication
10.4.1. Oncology
10.4.2. Pain Management
10.4.3. Autoimmune Diseases
10.4.4. CNS Diseases
10.4.5. Obesity
10.4.6. Diabetes
10.4.7. Cardiovascular Diseases
10.4.8. Others
10.5. Middle East Clinical Trials Market Attractiveness Index
10.5.1. By Country
10.5.2. By Phase
10.5.3. By Indication
11. Africa Clinical Trials Market, By Region
11.1. Introduction
11.1.1. Annual Growth Rate Comparison, By Country
11.1.2. BPS Analysis, By Country
11.2. Market Revenue (US$Mn) Forecast, By Country
11.2.1. South Africa Clinical Trials Market
11.2.2. Egypt Clinical Trials Market
11.2.3. North Africa Clinical Trials Market
11.2.4. Rest of Africa Clinical Trials Market
11.3. Africa Clinical Trials Market, By Phase
11.3.1. Phase 1
11.3.2. Phase 2
11.3.3. Phase 3
11.3.4. Phase 4
11.4. Africa Clinical Trials Market, By Indication
11.4.1. Oncology
11.4.2. Pain Management
11.4.3. Autoimmune Diseases
11.4.4. CNS Diseases
11.4.5. Obesity
11.4.6. Diabetes
11.4.7. Cardiovascular Diseases
11.4.8. Others
11.5. Africa Clinical Trials Market Attractiveness Index
11.5.1. By Country
11.5.2. By Phase
11.5.3. By Indication
12. Recommendation
12.1. Market Strategy
13. Competitive Landscape
13.1. Competition Dashboard
13.2. List and Company Overview of Global Key Players
13.3. Company Profiles
13.3.1. Quintiles IMS
13.3.1.1. Company Overview
13.3.1.2. Financial Overview
13.3.1.3. Product Portfolio
13.3.1.4. Key Developments
13.3.1.5. Business Strategies
13.3.2. Paraxel International Corporation
13.3.3. Icon Plc
13.3.4. Chiltern International Ltd.
13.3.5. Bioclinica
13.3.6. Medidata
13.3.7. Bio – Optronics
13.3.8. Sparta Systems
14. Acronyms
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Frequently Asked Questions
The clinical trials market in 2020 is accounted for more than US$ 45.3 Bn and expected to reach at a value of US$ 73.7 Bn by 2028 with a significant CAGR of 6.3%.
Unprecedented growth in pipeline activities of global pharmaceutical and biopharmaceutical companies drives the growth of global clinical trials market.
The global clinical trials market is segmented on the basis of phase, indication, and region.
Some of the key players identified in global clinical trials market are Quintiles IMS, Paraxel International Corporation, ICON PLC, Chiltern International Ltd., BIOCLINICA, MEDIDATA, BIO – OPTRONICS, SPARTA SYSTEMS etc. among others.