01 July 2020
Visiongain has launched a new pharma report Clinical Trials Market Report 2020-2030: Forecasts by Phase (Phase I, Phase II, Phase III, Phase IV), Study Design (Interventional, Observational, Expanded Access), Indication (Autoimmune/Inflammation, Pain Management, Oncology, CNS Condition, Diabetes, Obesity, Cardiovascular, Others), and Geography (North America, Latin America, Europe, Asia Pacific, MEA).
The global clinical trials market is anticipated to grow at a lucrative CAGR of ~xyz% and anticipated to reach USD xyz billion by 2020 on account of the growing prevalence of chronic diseases, and demand from developing countries.
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With the growing burden of rare diseases around the world, there has been a rise and advancement in the therapy development of these types of diseases. While the fact remains that over 90% of these diseases lack approval for treatment and the total number of terminal rare diseases to receive the first treatment every year remains low. The introduction of policies, regulations, and incentives dedicated to reducing the rising burden of diseases has led to the significant growth in the therapeutic development for the benefit of rare disease patients. Thus, there is a demand for clinical trials globally to reduce the growing burden of diseases by helping in the development of effective and safe new vaccines and therapies. The solutions may be helpful for non-communicable diseases like diabetes & cancer, or infectious diseases prevalent in the poorest regions of the globe. Developing nations are underestimated in research due to lack of trained researchers and commercial viability, yet it is in these poorest geographies, where research-led solutions will help in curbing the growing disease burden and help in bringing the maximum impact of soaring rates of early mortality.
North America holds the majority of market share followed by Europe and will continue to dominate in the future as a result of several research projects in the region, coupled with funding for research institutes from the government. Also, the market will continue to be driven by the existence of the target population and increased R&D investment by important business organizations. Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to growing outsourcing activities by major companies due to low labor and favorable government scenarios. Additionally, unmet needs of patients and untapped nations in this region have been attracting investments by global players and this is expected to boost the clinical trials market growth over the forecast period.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations, and launching new products to strengthen their position in the global clinical trials market. Companies are also expanding their R&D, distribution, and management facilities to expand their business and to hold a competitive edge in the clinical trials market.
The comprehensive market report features companies such as AAIPHARMA SERVICES CORP., ACCELL CLINICAL RESEARCH LLC, APTIV SOLUTIONS, CHILTERN INTERNATIONAL LIMITED, Clinipace, CONGENIX, COVANCE INC., ECRON ACUNOVA LTD, Eli Lilly and Company, F. Hoffmann-La Roche Ltd, ICON PLC, IQVIA, Laboratory Corporation of America, Novo Nordisk AS, PAREXEL International Corporation, Pfizer Inc., Pharmaceutical Product Development LLC, Sanofi, Sun Pharmaceutical Industries Ltd, Wuxi AppTec among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020-2030 for global markets such as North America, Latin America, Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Russia, India, Japan, China, Australia, ASEAN, GCC and South Africa.
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