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.
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.
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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.
Global Clinical Trials Market is segmented into phase such as Phase I, Phase II, Phase III, and Phase IV, by design such as Interventional, Observation, and Expanded Access. Further, Global Clinical Trials Market is segmented into indication such as Cardiovascular, Obesity, Diabetes, CNS condition, Oncology, Pain management, Autoimmune/inflammation, and Others.
Also, Global Clinical Trials Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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.
• Phase I
• Phase II
• Phase III
• Phase IV
• Expanded Access
• CNS condition
• Pain management
• North America
• Latin America
• Asia Pacific
• Middle East & Africa
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