The global clinical trials market size is expected to reach USD 123.5 billion by 2030, expanding at a CAGR of 6.49 from 2024 to 2030, according to a new report by Grand View Research, Inc. An increase in the volume and complexity of clinical trials has been witnessed lately, which plays an important role in the R&D of new drugs and products. The market witnessed a decline of 6% in 2020 owing to the COVID-19 pandemic. However, the market is projected to recover from 2021 onwards. In addition, clinical trials have become increasingly costly, adding to the overall cost of developing a drug.
Clinical Trials Market Report Highlights
- The phase III clinical trials segment dominated the market with a 53.3% share in 2023. This can be attributed to the complexity of this phase
- The interventional studies segment dominated the market in 2023. It is one of the most prominent methods used in clinical trials in the study design segment owing to the increasing demand for the intervention for clinical trials by researchers
- North America held 50.3% of the market share in 2023. Favorable government initiatives and the presence of a large number of players in the U.S. that offer advanced services are responsible for market growth
- Asia Pacific region is anticipated to grow at the fastest CAGR over the forecast period owing to the increasing patient pool and cost-efficient services.
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The increasing need for developing new drugs for chronic diseases, such as cancer, respiratory disorders, diabetes, cardiovascular diseases, and others, is creating immense pressure on the healthcare industry. The COVID-19 pandemic and the increasing demand for developing a suitable treatment are driving the market. The high number of people affected by the disease further depicts an increasing need for therapeutics & vaccines. Currently, there are 288 therapeutics and 106 vaccines under development, out of which, nearly 7.0% of therapeutics are in Phase IV, 21.0% in Phase III, and 43.0% & 13.0% in Phase II & Phase I, respectively.
The pandemic has resulted in the global disruption of traditional onsite clinical trials. Hence, regulatory bodies worldwide have undertaken various initiatives for fast-tracking clinical trials for the development of innovative solutions. One such instance is Solidarity, an international clinical trial launched by the WHO to find effective treatment against COVID-19. Although the pandemic has forced many medical device & drug developers to revise the approach to such crises, integrating best practices within clinical trial procedures & adapting to virtual trials, which can support the continuous development of therapeutics.
Analysis By Sponsors
There has been an increase in the number of clinical trials funded by pharmaceutical & biopharmaceutical companies. The pharmaceutical industry plays a vital role in financing the research for the development of new drugs. Although grants from the National Institutes of Health (NIH) fund most of the basic research in academic laboratories, it is largely the industry that bears the cost of identifying new molecular entities and testing them on animal models and human subjects. The growing number of clinical studies globally is one of the key reasons supporting the demand for clinical trial patient recruitment services. Moreover, there is a growing amount of funding for clinical research, and the wide adoption of digital technologies in clinical research further supports the growth.
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Analysis By Trials Phase
Clinical trial statistics indicates market growth due rising phase III trials, involving large number of subjects. Also, phase III requires a higher number of patients and often a longer treatment period. Phase II is the second most expensive stage after phase III studies. This study is performed in two parts; the first part includes exploring a range of doses along with efficacy studies and the second part includes finalizing the dose. Furthermore, there are numerous therapeutics and vaccines currently in phase II that are indicated for the treatment of oncology thereby boosting the growth.
Latest Market Trends and Developments
The global clinical trials market is highly competitive. The major factor influencing the competitive nature is the quick adoption of advanced technology for improved healthcare. In addition, to retain their market share and expand their product portfolio, major players are often involved in mergers and acquisitions as well as initiating new product launches.
List of major companies in the Clinical Trials Market
- Pharmaceutical Product Development, INC. (Thermo Fisher Scientific, Inc.)
- ICON plc
- Charles River Laboratories International, Inc.
- IQVIA
- SYNEOS HEALTH
- SGS SA
- PAREXEL International Corporation
- Wuxi AppTec, Inc
- Chiltern International Ltd (Laboratory Corporation of America)
- Eli Lilly and Company
- Novo Nordisk A/S
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We segmented the global clinical trials market based on phase, study design, indication, sponsor, indication by study design, and region.
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Research Methodology
1.3. Information Procurement
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Clinical Trials Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Ancillary Market Outlook
3.2. Fast track of clinical trials
3.3. Virtual/decentralized clinical trials
3.4. Real-world Evidence (RWE)
3.5. verage Cost of Clinical Trial /Price of Clinical Trails
3.5.1. By Phase
3.5.2. By TheArapeutic Area
3.5.3. By Region
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.1.1. Increasing Research and Development Promoting Outsourcing
3.6.1.2. Adoption of New Technology in Clinical Research
3.6.1.3. Increasing Prevalence of Chronic Disease
3.6.1.4. Globalization of Clinical Trials
3.6.1.5. Shift Toward Personalized Medicine
3.6.2. Market Restraint Analysis
3.6.2.1. Stringent Regulations in New Drug Development
3.6.2.2. Lack of Skilled Workforce in Clinical Research
3.6.3. Market Challenge Analysis
3.6.3.1. Rising Cost of Clinical Trial
3.7. Clinical Trials Market Analysis Tools
3.7.1. Industry Analysis - Porter’s
3.7.1.1. Bargaining power of suppliers
3.7.1.2. Bargaining power of buyers
3.7.1.3. Threat of substitutes
3.7.1.4. Threat of new entrants
3.7.1.5. Competitive rivalry
3.7.2. PESTEL Analysis
3.7.2.1. Political & Legal Landscape
3.7.2.2. Economic and Social Landscape
3.7.2.3. Technological landscape
3.7.3. COVID-19 Impact Analysis
3.7.3.1. Disrupted Clinical Trials
3.7.3.2. Obstacles in Clinical Trials
Chapter 4. Clinical Trials Market: Phase Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Clinical Trials Market: Phase Movement Analysis & Market Share, 2023 & 2030
4.3. Phase I
4.3.1. Phase I Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.4. Phase II
4.4.1. Phase II Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.5. Phase III
4.5.1. Phase III Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.6. Phase IV
4.6.1. Phase IV Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Clinical Trials Market: Study Design Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Clinical Trials Market: Study Design Movement Analysis & Market Share, 2023 & 2030
5.3. Interventional
5.3.1. Interventional Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.4. Observational
5.4.1. Observational Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.5. Expanded Access
5.5.1. Expanded Access Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Clinical Trials Market: Indication Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Clinical Trials Market: Indication Movement Analysis & Market Share, 2023 & 2030
6.3. Autoimmune/Inflammation
6.3.1. Autoimmune/Inflammation Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3.2. Rheumatoid Arthritis
6.3.2.1. Rheumatoid Arthritis Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3.3. Multiple Sclerosis
6.3.3.1. Multiple Sclerosis Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3.4. Osteoarthritis
6.3.4.1. Osteoarthritis Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3.5. Irritable Bowel Syndrome (IBS)
6.3.5.1. Irritable Bowel Syndrome (IBS) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.3.6. Others
6.3.6.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4. Pain Management
6.4.1. Pain Management Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4.2. Chronic Pain
6.4.2.1. Chronic Pain Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4.3. Acute Pain
6.4.3.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.5. Oncology
6.5.1. Oncology Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.5.2. Blood Cancer
6.5.2.1. Blood Cancer Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.5.3. Solid Tumors
6.5.3.1. Solid Tumors Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.5.4. Others
6.5.4.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6. CNS Conditions
6.6.1. CNS Conditions Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6.2. Epilepsy
6.6.2.1. Epilepsy Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6.3. Parkinson's Disease (PD)
6.6.3.1. Parkinson's Disease (PD) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6.4. Huntington's Disease
6.6.4.1. Huntington's Disease Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6.5. Stroke
6.6.5.1. Stroke Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6.6. Traumatic Brain Injury (TBI)
6.6.6.1. Traumatic Brain Injury (TBI) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6.7. Amyotrophic Lateral Sclerosis (ALS)
6.6.7.1. Amyotrophic Lateral Sclerosis (ALS) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6.8. Muscle Regeneration
6.6.8.1. Muscle Regeneration Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6.9. Others
6.6.9.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.7. Diabetes
6.7.1. Diabetes Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.8. Obesity
6.8.1. Obesity Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.9. Cardiovascular
6.9.1. Cardiovascular Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.10. Others
6.10.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Clinical Trials Market: Sponsor Type Estimates & Trend Analysis
7.1. Segment Dashboard
7.2. Clinical Trials Market: Sponsor Movement Analysis & Market Share, 2024 & 2030
7.3. Pharmaceutical
7.3.1. Pharmaceutical & Biopharmaceutical Companies Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.4. Medical Device Companies
7.4.1. Medical Device Companies Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
7.5. Others
7.5.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Clinical Trials Market: by Service Type Estimates & Trend Analysis
8.1. Definitions & Scope
8.2. Study Design Market Share Analysis, 2024 & 2030
8.3. Segment Dashboard
8.4. Global Clinical Trials Market, By Service Type, 2018 to 2030
8.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
8.5.1. Protocol Designing
8.5.2. Site Identification
8.5.3. Patient Recruitment
8.5.4. Laboratory Services
8.5.5. Bioanalytical Testing Services
8.5.6. Clinical Trial Data Management Services
8.5.7. Others
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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