Clinical Trials Market Report: Market anticipated to reach USD 60 BN by 2026
Posted On March 20, 2020
A market research report anticipates the Global Clinical Trials Market to reach USD 42.7 BN in 2019. It is estimated to grow and reach USD 60 BN mark by 2026. The report publisher, Value Market Research expects a CAGR of 5% during 2020 to 2026.The market for clinical trials is growing at a steady rate due to the increase in the number of investments made for research and development for new medicines and surgical procedures. The number of diseases is increasing and as a result, more money is being spent on pharmaceutical research, but it's mentioned above that the development of new medicine or procedure is incomplete without any clinical trials. So as the number of researches is increasing in the pharmaceutical market the market drivers for clinical trials are also increasing. Government incentives are also acting as a catalyst for the growing market for clinical trials and the growth rates are being forecasted to reach robust rates in the foreseeable future.
The advancements in the medical and healthcare sector are very important for the development of an economy and every nation is striving to make their existing healthcare systems better. For this purpose new and better medicines and surgeries need to be discovered constantly and that is exactly the need for clinical trials. Clinical trials refer to the research of medicine or any other operating technique by its implementation in people. It is done to evaluate the effectiveness of the new drug or surgery on real people and determine its viability to be used in hospitals. Clinical trials are important for ascertaining the usefulness of a new drug before it can be used for medical procedures.
The first chapter of the report "Global Clinical Trials Market Report By Phase (Phase I, Phase II, Phase III And Phase IV), Study Design (Interventional, Observational And Expanded Access), Indication (Autoimmune/Inflammation, Pain Management, Oncology, CNS Condition, Diabetes, Obesity And Cardiovascular) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" gives the market introduction with a crisp summary of the report and goes in detailed revenue analysis bifurcated as per segments and regions in the subsequent chapters. The study researches the historical trends of the industry along with understanding all the geo-economic conditions related to the Clinical Trials market, thus making the foundation of the report strong and reliable.
By phase the Clinical Trials market is segmented into phase I, phase II, phase III and phase IV.
On the basis of study design the Clinical Trials market is segmented into interventional, observational and expanded access.
By indication the Clinical Trials market is segmented into autoimmune/inflammation, pain management, oncology, CNS condition, diabetes, obesity and cardiovascular.
The research study is broadly segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions. The revenue and/ volume data distribution is covered in detail in the report.
The Report Segments Global Clinical Trials Market -
- Phase I
- Phase II
- Phase III
- Phase IV
By Study Design
- Expanded Access
- Pain Management
- CNS Condition
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Charles River Laboratories, ICON plc, Paraxel International Corporation, Quintiles IMS, SGS SA, and others.
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