Global Clinical Trials Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023

Clinical Trials Market

Clinical trials are the exploration ponders essentially performed on the people to get information about wellbeing and adequacy of more up to date biomedical mediations incorporate novel gadgets, antibodies, medications, and medicines. For the most part, clinical trials are managed by the morals panels and wellbeing experts. On the expansive base, clinical trials are conveyed to decide the general pharmacokinetic and pharmacodynamics properties of the items. Clinical trials are conveyed under different stages, for example, Phase 0 to Phase 3 and stage 4 is conveyed for post advertising investigation of the items. The item will be review in the event that it comes up short at any phase of the clinical trial.

Increase in the investment in new product development, rise in R&D activities, increase in the prevalence of chronic diseases such as cancer and HIV, entry of newer viral diseases such as Ebola and Zika are anticipated to propel the clinical trials market. In addition, growing preference for innovative solutions for the disease treatments, collaboration between the drug innovators with clinical research organizations, and stringent regulatory policies for product approvals might fuel the clinical trials market over the forecast period. However, lack of skilled professionals, undeveloped healthcare infrastructure, complexities in data storage, and dearth of trial subjects might hamper the clinical trials market growth over the forecast timeframe.

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Clinical trials market is segmented on the basis of clinical trial phase, disease type, study design, and end user

Based on the clinical trial phase, clinical trials market is segmented into the following:

·        Phase 0

·        Phase 1

·        Phase 2

·        Phase 3

·        Phase 4

Based on the disease type, clinical trials market is segmented into the following:

·        Infectious diseases

·        Cancer

·        Diabetes

·        Autoimmune disorders

·        Inflammatory diseases

·        Cardiovascular diseases

·        Haematological disorders

·        Neurological disorders

·        Dermatology

·        Others

Based on the study design, clinical trials market is segmented into the following:

·        Observational trials

·        Interventional trials

·        Expanded access trials

Based on the end user, clinical trials market is segmented into the following:

·        Clinical research organizations

·        Pharmaceutical and biotechnology companies

·        Research institutes

·        Others

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Global clinical trials market is in the developed stage owing increase in the R&D activities and innovation of newer biological products and medical devices in the market. Increase in the prevalence of chronic diseases and entry of newer diseases might propel the innovation of novel drugs leads to bolster the clinical trials market. Acquisitions & mergers, collaborations, and joint ventures between the pharmaceutical and biotechnology companies with clinical research organizations are help to drive the revenue growth of clinical trials market. For instance, in September 2015, Chiltern acquired the theorem clinical for strengthening the facilities for clinical trials. Similarly, in June 2017, ProPharma group acquired the Drug Safety Solutions for the development of clinical trial facilities.

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Geographically, clinical trials market is segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Increase in the R&D activities for chronic disorders, innovation of novel molecules, presence of a huge number of biopharmaceutical companies, and increase in healthcare expenditure are anticipated to propel the North America clinical trials market. Europe clinical trials market is in advanced stage attributed to increase in the regulatory requirements for product approvals, increase in the R&D activities in Germany, U.K. and Spain owing to presence of large number of R&D firms, increase in the prevalence of chronic diseases such as cancer, diabetes due to change in lifestyle, and rise in number of clinical research organizations propel the market over the forecast period. However, Asia Pacific exhibiting significant growth owing to increase in the clinical trials majorly in China, India, South Korea, Japan, and among others, less expenditure for clinical trials,  and availability of diseased population in Asia Pacific region are expected to drive the market over the forecast period.

Some of the players in the clinical trials market are Charles River Laboratories International, Inc. (U.S.), Icon Plc. (Ireland), Quintiles IMS Holdings, Inc. (U.S.), Kendle International Inc. (U.S.), Parexel International Corporation (U.S.), Chiltern International Ltd. (U.K.), Omnicare Healthcare Co. (U.S.), Audax Group (U.S.), Laboratory Corporation of America Holdings (U.S.), and ProPharma Group (U.S.) to name a few.

 

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