Clinical Trials Market Size, Scope, Growth Analysis and Forecast Report to 2027

Global Clinical Trials Market was valued at USD 42.6 billion in 2019 which is expected to reach USD 68.4 billion by 2027 at a CAGR 5.88%.

Clinical trials are the type of research study which is conducted on individuals for testing medical drugs or equipment to determine the treatment of certain disorders or diseases. Clinical trial has certain protocol and action plan to execute testing procedure. These are conducted to check the safety and efficacy of drug of any new medicine.

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Market Drivers

Increase in number of clinical trials and increase in demand for novel therapeutic drugs and medical devices which are expected to boost the global clinical trials market growth. Furthermore, increase in prevalence on chronic diseases like cancer, diabetes will have the positive impact on global clinical trials market growth. Moreover, COVID 19 pandemic is the global crisis overall the world to [prevent this crisis various clinical trials are in process which is expected to propel the growth of global clinical trials market growth. Also, increase in government initiatives and investments will fuel the global clinical trials market growth.

Market Restraints

However, stringent rules and regulations is the restraining factor which is expected to hamper the global clinical trials market growth. Also, lack of qualified professionals will affect the global clinical trials market growth.

Market Key Players

Various key players are discussed in this report such as ICON PLC, EUROTRIALS, ECRON ACUNOVA LTD, COVANCE INC. CONGENIX, CHILTERN INTERNATIONAL LIMITED, APTIV SOLUTIONS, ACCELL CLINICAL RESEARCH LLC, and AAIPHARMA SERVICES CORP.

Market Taxonomy

By Phase

Phase I
Phase II
Phase III
Phase IV

By Design

Interventional
Observation
Expanded Access

By Indication

Cardiovascular
Obesity
Diabetes
CNS condition
Oncology
Pain management
Autoimmune/inflammation
Others

By Region

North America
Latin America
Asia Pacific
Europe
Middle East & Africa

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