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Clinical Trials Market - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4703371
  • Report
  • 117 pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2019
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FEATURED COMPANIES

  • Clinipace
  • Eli Lilly and Company
  • F. Hoffmann-La Roche Ltd
  • ICON PLC
  • IQVIA
  • Novo Nordisk AS
  • MORE
Market Overview

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.

Scope of the Report

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.

Key Market Trends

Phase III is the Largest Segment Under Phases that is Expected to Grow During the Forecast Period

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.

North America has been Reported with the Largest Growth that is Expected to Follow the Same Trend over the Forecast Period

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.

Competitive Landscape

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.
Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • Clinipace
  • Eli Lilly and Company
  • F. Hoffmann-La Roche Ltd
  • ICON PLC
  • IQVIA
  • Novo Nordisk AS
  • MORE
1 INTRODUCTION
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
5.2.1.1 Randomized Control Trial
5.2.1.1.1 Double Blind Trial Randomized Trial
5.2.1.1.2 Single Blind Trial Randomized Trial
5.2.1.1.3 Non-blind Randomized Trial
5.2.1.2 Adaptive Clinical Trial
5.2.1.3 Non-randomized Control Trial
5.2.2 Observational Studies
5.2.2.1 Cohort Study
5.2.2.2 Case Control Study
5.2.2.3 Cross Sectional Study
5.2.2.4 Ecological Study
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East & Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East & Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Clinipace
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
6.1.9 IQVIA
6.1.10 F. Hoffmann-La Roche Ltd
6.1.11 Sanofi
6.1.12 Wuxi AppTec

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • Clinipace
  • Laboratory Corporation of America
  • Eli Lilly and Company
  • ICON PLC
  • Novo Nordisk AS
  • PAREXEL International Corporation
  • Pfizer Inc.
  • Pharmaceutical Product Development LLC
  • IQVIA
  • F. Hoffmann-La Roche Ltd
  • Sanofi
  • Wuxi AppTec
Note: Product cover images may vary from those shown
5 of 5

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