Global Clinical Trials Market (2020-2025) by Study Phases, Study Designs, Indication of Disease and Geography and the Impact of Covid-19 with Ansoff Analysis

Introduction

Clinical trials are scientific studies to understand how a particular medical approach reciprocates in different sets of people. They are performed to diagnose, detect, and prevent various types of diseases. They can be used to evaluate the efficacy of new drugs or devices like catheters etc. The clinical trial industry links the bridge between the lab/research organisation and the market for new drugs. Thus the market is constantly evolving with a series of new clinical studies being launched at an ever-growing pace.

The Global Clinical Trials Market is estimated to be USD 19.25 Bn in 2020 and is expected to reach USD 28.7 Bn by 2025 growing at a CAGR of 8.3%.

With the increase in the demand for new medicines and medical equipment amongst healthcare providers, the clinical trials markets have seen an upsurge. However, solutions that are both permanent and effective do take a considerable amount of time in terms of approval thus slowing down the market growth.

Market Dynamics

Drivers

• Globalizing Drug Development Activities
• Rise in R&D Investments to develop new healthcare products
• High Disease Prevalence in Emerging Countries

Restraints

• Longer Approval Time
• Lack of skilled workforce in clinical research

Opportunities

• Leveraging Online Resources to Increase Patient Recruitment Rates in Clinical Trials
• Increasing partnerships between the pharma bio-tech companies and clinical research organizations

Trends

• Applications of Technological enabled measures

Segments Covered

By Geography, North America is assumed to be the largest market. The Global Clinical Trial Market is segmented on the basis of study phases, study designs, indication of disease and geography.

Global Clinical Trials Market, By Study Phases

• Introduction
• Phase I trials
• Phase II trials
• Phase III trials

Global Clinical Trials Market, By Study Designs

• Observational Studies
• Interventional Trials
• Expanded Access Trials

Global Clinical Trials Market, By Indications

• Introduction
• Autoimmune/Inflammation
• Pain Management
• Oncology
• CNS Condition
• Diabetes
• Obesity
• Cardiovascular
• Others

Global Clinical Trials Market, By Geography

• North America
• South America
• Europe
• Asia Pacific
• Middle East and Africa

Company Profiles

Some of the companies covered in this report are IQVIA, Pharmaceutical Product Development, LLC, PAREXEL International Corporation, Wuxi AppTec Inc., Charles River Laboratories, ICON Plc, SGS SA, Syneos Health etc

IGR Competitive Quadrant
The report includes IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share etc.

Lions: Represents companies with a strong foothold in the market, with the highest market share, large investments in technologies, new products.
Bulls: Companies that are medium in size competing with their USPs, growing companies with proven market share.
Rabbits: Small companies but growing rapidly, constantly improving their offerings in the market.
Tortoise: Companies that are slow in growth, having a long legacy and stable or negative in performance.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Clinical Trials Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys and observation of renowned personnel in the industry.
• The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
• The report also contains a competitive analysis using IGR Competitive Quadrant, a Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market