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The market is segmented by Phase, Design (Treatment Studies and Observational Studies) and Geography.
The North America clinical trials market will show rapid growth due to the demand for clinical trials in the emerging markets, high R&D expenditure of the pharmaceutical industry and the rising prevalence of diseases.
In emerging countries, there are numerous unmet needs of clinical trials for novel drugs, due to the increasing prevalence of infectious and tropical diseases in the region. The population is found to have has varied disease profile which is increasing with the span of time and this is expected to boost the clinical trials of new or rare diseases. Therefore the number of patients having a specific disease would act as a stimulus for biopharmaceutical companies to invest more in clinical trials for a disease segment.
The research and development (R&D) spending of pharmaceutical companies has also been steadily increasing over the past few years. This was mainly due to numerous patent expiries, and as a result of the patent expiration, there are many pharmaceutical companies that will have no other option but to develop new drugs. Therefore, the companies are spending more on R&D to accelerate the development of drugs through clinical trials, and henceforth increasing the overall 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.
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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 the North American countries for the promotion of drug discovery and continuous technological innovations are expected to propel the market growth.
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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
4.2.2 High R&D Expenditure of the Pharmaceutical Industry
4.2.3 Rising Prevalence of Diseases
4.3 Market Restraints
4.3.1 Lack of Skilled Workforce for Clinical Research
4.3.2 Stringent Regulations
4.4 Porter's Five Force 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
126.96.36.199 Randomized Control Trial
188.8.131.52.1 Double Blind Trial Randomized Trial
184.108.40.206.2 Single Blind Trial Randomized Trial
220.127.116.11.3 Non-blind Randomized Trial
18.104.22.168 Adaptive Clinical Trial
22.214.171.124 Non-randomized Control Trial
5.2.2 Observational Studies
126.96.36.199 Cohort Study
188.8.131.52 Case Control Study
184.108.40.206 Cross Sectional Study
220.127.116.11 Ecological Study
5.3.1 North America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 Eli Lilly and Company
6.1.3 F. Hoffmann-La Roche Ltd
6.1.4 ICON PLC
6.1.6 Laboratory Corporation of America
6.1.7 Novo Nordisk AS
6.1.8 PAREXEL International Corporation
6.1.9 Pfizer Inc.
6.1.10 Pharmaceutical Product Development LLC
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
* List Not Exhaustive
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments