Clinical Trials are research studies performed on humans to gain specific information about biomedical interventions such as novel vaccines, devices, treatments and drugs and thereby generating safety data. They are conducted in four phases namely, Phase I, II, III and IV.
According to the report "Global Clinical Trial Market”, published by published by Industry Data Forecast, The industry has been estimated at USD 21.41 billion by 2021, at a CAGR of 7.75% from 2016 to 2021.
It is mandatory for further approval of the drug and to bring it into the market.
The market for Clinical Trials is mainly driven due to advancement in technology, increasing demand of innovative solutions in healthcare industry, and further boosted the alliances between the pharm-biotech companies and the clinical research organizations. But, the market growth can be hampered due to factors such as lack of skilled professionals to operate advanced CTMS solutions and budget constraints of small- and medium-sized pharmaceutical and biotechnology companies and small CROs.
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Global market for Clinical Trials is segmented based on Phase, design and indication. By Phase, the market is further sub-segmented into Phase I, Phase II, and Phase III.
By design, the market is further sub-segmented into Interventional trials, Observational trials, Expanded Access trials. By indication, the market is further sub-segmented into Autoimmune, Blood disorders, Cancer, Circulatory, CNS, Congenital, CVS, Dermatology, Ear, Gastrointestinal, Genitourinary, Infections, Mental disorders, Metabolic, Musculoskeletal, Nose, Ophthalmology.
Cancer and CNS are the largest market share contributors to the market. Segments like Gastrointestinal, Circulatory, Dermatology and Mental Disorders are moving with high CAGR due to their increasing occurrence.
Geographically, Global market for Clinical Trials is segmented into North America, Asia Pacific, Latin America, Europe, and Middle-East and Africa. North America is the biggest market in terms of market share across the globe, followed by Europe.
Ample availability of funds to outsource Clinical Trials serves as the major growth driver for the North America. The spread of analytics and awareness of its potential are increasing at a rapid rate in Europe.
The Clinical Trials market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly due to initiatives from the government and contributions from academic laboratories, which helped augment growth.
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Key Points from Table of Contents
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
- Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
- Industry Segmentation
- Ø Based on Phase
- Ø Based on Design
- Ø Based on Indications
- Geographical Analysis
- Pipeline Product Analysis
- Strategic Analysis
8.1 PESTLE analysis
8.2 Porter’s five analysis
- Industry Leaders' Analysis
- Competitive Landscape
- Ø North America Clinical Trial Market
- Ø Europe Clinical Trial Market
- Ø Asia-Pacific Clinical Trial Market
- Ø Latin America Clinical Trial Market
- Ø Middle-East and Africa Clinical Trial Market
The major companies operating in the global Clinical Trial Market are Chiltern (U.K.), Omnicare (U.S.), PPD (U.S.), Parexel (U.S.), Kendle (U.S.), Quintles (U.S.), ICON Plc (Ireland), and Charles River(U.S.),
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The Clinical Trial market study offers the following deliverables:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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