Clinical Trials Market Overview
Clinical trial is a research study which involve people (healthy volunteers or patients) to test the safety and efficacy of a new treatment or medicine. In healthcare industry clinical trials are performed for medicine, medical devices which includes hearing aid and surgical procedure.
The key factors driving the clinical trial industry includes rising prevalence of diseases, high R&D expenditure of the pharmaceutical industry, and growth of new treatments such as personalized medicine is supporting to grow the market. However, factors such as lack of skilled workforce clinical research, lower healthcare reimbursement in the developing countries and stringent regulations for patient enrollment, hinder the market growth.
The market for global clinical trial market is estimated to grow at an approximate CAGR of 5.7% from 2017 to 2023.
But strict regulations and high costs of clinical trials can impede the market.
Avail Free Sample @ https://www.marketresearchfuture.com/sample_request/7787
Clinical Trials Market Segmentation
The global clinical trials market is segmented on the basis of phase, study design, indication and end users. On the basis of the phase, it is categorized into phase I, phase II, phase III, and phase IV.
On the basis of study design, the global clinical trials market is divided into interventional, observational and expanded access.
On the basis of indication, the global clinical trials market is segmented into autoimmune/inflammation, pain management, oncology, central nervous system (CNS) condition, diabetes, obesity, cardiovascular and others.
On the basis of the end-user, the market is segmented into dental hospitals & clinics, dental institutes and dental academic and research institutes.
Clinical Trials Market Regional Analysis
The Americas, the Middle East & Africa, Europe, and Asia Pacific (APAC) are regions considered in the global clinical trials market report.
The Americas are touted to dominate the global market due to a huge patient pool, large number of pharma companies, and ample funding to fuel research and development. In addition, the rising number of cases of patients with cancer, diabetes, and chronic diseases can boost the clinical trials market demand. According to the National Cancer Institute, nearly 64,000 cases of kidney cancer are expected to be registered in the U.S.
Europe is expected to be the second biggest region for the global clinical trials market due to increasing prevalence of new diseases and high R&D budget allocated for research purposes. Introduction of new regulations for clinical trials can boost innovation and development of new drugs.
The APAC region can grow at a rapid pace due to ongoing government support for R&D hubs, rising emphasis for development of drugs for rare diseases, and a large patient pool. Low operational costs and lax tax policies are expected to lead to inflow of investment by global groups in the region.
On the other hand, the MEA region possesses latent potential owing to large healthcare expenditure of economies of Kuwait, Qatar, and Saudi Arabia.
Clinical Trials Market Key Players
Charles River Laboratories, Paraxel International Corporation, Quintiles IMS, ICON plc, SGS SA, Eli Lilly and Company, Novo Nordisk A/S, Clinipace, Laboratory Corporation of America, Pfizer and Others are some of the major players for global clinical trials market.
Browse Complete Report with TOC @ https://www.marketresearchfuture.com/reports/clinical-trials-market-7787
Clinical Trials Market Industry News
Research funding is imperative to the functioning of clinical trials. In 2019, the U.S. Food and Drug Administration (FDA) has awarded 12 clinical trials more than USD 15 million in funds to further the research and testing of drugs for rare diseases.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Market Research Future
+1 646 845 9312
NOTE: Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required we will be considering covid-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.