5th Floor, Brigade Towers,
Financial District, Gachibowli,
Hyderabad - 500032,
The Clinical Trials Market is segmented by Phase (Phase I, Phase II, Phase III, and Phase IV), Design, and Geography
Fastest Growing Market:
The major factors found propelling the growth of the market include the high demand for clinical trials in emerging markets, high R&D spending of the pharmaceutical industry, an increasing prevalence of diseases, and the focus on rare diseases and multiple orphan drugs in the pipeline.
The market is growing at a robust pace, owing to the advancements in healthcare and growing patented new chemical entities (NCE) indicated for various health conditions.
It has also been found that there are a large number of unmet clinical needs in emerging countries, due to the prevalence of infectious and tropical diseases in the region. Owing to these, a large number of the population participate in clinical trials to access high-quality healthcare free of cost. India and China have the highest prevalence rates for metabolic disorders, due to the increasing population, combined with the prevalence of insulin resistance, hyperlipidemia, and obesity.
In addition, government initiatives have also motivated the small, medium, and large players to enter into orphan drug development. Thus, there are multiple drugs in the pipeline. As a result, Novartis, GlaxoSmithKline, and Pfizer (among others) have entered this field. It has also been found that the clinical trials market has taken bigger strides in the developing countries of Asia-Pacific and the Middle East and there is still very less development in the market.
As per the scope of the report, clinical trials are experiments that are conducted under clinical research and follow a regulated protocol. These experiments are primarily performed to obtain data regarding the safety and efficacy of newly developed drugs. Clinical trial data is mandatory for drug approval, as well as for it to be introduced in the market. These trials are performed under three phases (I, II, and III), which depends upon various factors. This process is not only expensive, but also time consuming, and requires expertise at all stages.
Report scope can be customized per your requirements. Click here.
The market is expected to be dominated by Phase III, with Phase I expected to witness the fastest growth. Phase III is one of the most critical phases assessing the effectiveness of the new intervention, as well as its value in clinical practice. The Phase I trial in the market studied is also expected to grow at a steady rate, due to the increasing number of investigative new drug (IND) applications filed. The government initiatives in emerging economies for the promotion of drug discovery and continuous technological innovations are expected to propel the market growth.
To understand key trends, Download Sample Report
North America dominated the overall market, owing to the presence of big outsourcing firms and increasing R&D in the region. However, increasing R&D investments and an increasing demand for drug development are the major factors responsible for the market emergence in the United States.
To understand geography trends, Download Sample Report.
The major pharmaceutical companies are found making enormous investments in R&D, especially in the emerging nations, in order to gain opportunities for market growth in the major regions. The strategic partnerships among pharmaceutical companies and the CROs are expected to have a significant impact on the market's growth.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Demand for Clinical Trials in the Emerging Markets
4.2.2 High R&D Expenditure of the Pharmaceutical Industry
4.2.3 Rising Prevalence of Diseases
4.2.4 Focus on Rare Diseases and Multiple Orphan Drugs in the Pipeline
4.3 Market Restraints
4.3.1 Lack of Skilled Workforce Clinical Research
4.3.2 Lower Healthcare Reimbursement in the Developing Countries
4.3.3 Stringent Regulations for Patient Enrollment
4.4 Porter' s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Phase
5.1.1 Phase I
5.1.2 Phase II
5.1.3 Phase III
5.1.4 Phase IV
5.2 By Design
5.2.1 Treatment Studies
22.214.171.124 Randomized Control Trial
126.96.36.199.1 Double Blind Trial Randomized Trial
188.8.131.52.2 Single Blind Trial Randomized Trial
184.108.40.206.3 Non-blind Randomized Trial
220.127.116.11 Adaptive Clinical Trial
18.104.22.168 Non-randomized Control Trial
5.2.2 Observational Studies
22.214.171.124 Cohort Study
126.96.36.199 Case Control Study
188.8.131.52 Cross Sectional Study
184.108.40.206 Ecological Study
5.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Middle East & Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East & Africa
5.3.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 Laboratory Corporation of America
6.1.3 Eli Lilly and Company
6.1.4 ICON PLC
6.1.5 Novo Nordisk AS
6.1.6 PAREXEL International Corporation
6.1.7 Pfizer Inc.
6.1.8 Pharmaceutical Product Development LLC
6.1.10 F. Hoffmann-La Roche Ltd
6.1.12 Wuxi AppTec
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments