Clinical Trial Market worth $ 66.17 Billion, Globally, by 2028 at 5.55 % CAGR: Verified Market Research™

JERSEY CITY, N.J., May 25, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Clinical Trial Market" By Phase (Phase I, Phase II, Phase III, & Phase IV), By Study Design (Interventional, Observational, & Expanded Access), By Indication (Autoimmune/Inflammation, Pain management, Cardiovascular, CNS condition & Others), and By Geography. According to Verified Market Research, the Global Clinical Trial Market was valued at USD 42.97 Billion in 2020 and is projected to reach USD 66.17 Billion by 2028, growing at a CAGR of 5.55% from 2021 to 2028.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=32085

Browse in-depth TOC on "Clinical Trial Market"

202 - Pages
126 – Tables
37 – Figures

Global Clinical Trial Market Overview

An important growth driver for the clinical trials market is the rising number of people suffering from chronic diseases, which demands the formulations of new medicines and treatments for improving the condition of a patient suffering from a chronic disease. According to the WHO 2018 Report, chronic diseases kill 41 million people every year, which is equivalent to 71% of all deaths globally. The increasing investment on R&D by major market players is also expected to significantly contribute towards the growth of the market.

According to the WHO 2018 Report, chronic diseases kill 41 million people every year, which is equivalent to 71% of all deaths globally. The increasing investment on R&D by major market players is also expected to significantly contribute towards the growth of the market. For instance, Pfizer Inc.'s research and development spending grew 13%, USD 7.66 Billion in 2017 to USD 8.65 in 2019, according to data collected by S&P Global Market Intelligence. The COVID-19 pandemic has led to a spike in the number of clinical trials performed across the globe, in an attempt to come up with a vaccine for the virus as soon as possible. The pandemic, apart from being a significant reason for the spike in the market.

Key Developments in Clinical Trial Market

• In March 2021, Pfizer and Moderna launched clinical trials for coronavirus vaccines in children 6 months to 11 years old.
• In February 2021, Pfizer Inc. and BioNTech SE announced that the first participants have been dosed in a global Phase 2/3 study to further evaluate the safety, tolerability, and immunogenicity of the Pfizer-BioNTech COVID-19 vaccine(BNT162b2) in preventing COVID-19 in healthy pregnant women 18 years of age and older.

The major players in the market are Clinipace, Pfizer Inc., Novo Nordisk A/S, Eli Lilly and Company, Syneos Health, ICON Plc, Wuxi AppTec, PRA Health Sciences, SGS SA, Parexel International among others.

Verified Market Research has segmented the Global Clinical Trial Market On the basis of Phase, Study Design and Indication and Geography.

• Clinical Trial Market by Phase
• Phase I
• Phase II
• Phase III
• Phase IV
• Clinical Trial Market by Study Design
• Interventional
• Observational
• Expanded Access
• Clinical Trial Market by Indication
• Autoimmune/Inflammation
• Pain management
• Cardiovascular
• CNS condition
• Oncology
• Diabetes
• Obesity
• Others
• Clinical Trial Market by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

Browse Related Reports:

Clinical Trial Imaging Market by Modality (Computed Tomography, Magnetic Resonance Imaging, Ultrasound, Positron Emission Tomography, X-Ray, Echocardiography, and Other Modalities), by End User (Pharmaceutical Companies, Biotechnology Companies, Medical Device Manufacturers, Contract Research Organizations, Academic and Government Research Institutes, Other End-Users), by Geography, Forecast, 2020-2027

Clinical Trials Management System Market by Type (Enterprise and on site), by Component (Software and Services), by Delivery Mode (Web-Based (Hosted) CTMS, Cloud-Based (SaaS) CTMS, and Licensed Enterprise (On Premise) CTMS.), by End-User (Pharmaceutical and Biopharmaceutical Companies, Contract Research Organizations, Medical Device Companies, and Others), by Geography, Forecast, 2020-2027

Clinical Trial Supplies Market by Service (Manufacturing, Packaging, Labeling, and Blinding, Comparator Sourcing, Logistics, and Others), by Phase (Phase I, Phase II, Phase III, Phase IV, and BA/BE Studies), by Therapeutic Area (Oncology, Cardiovascular Diseases, Neurological Diseases, Respiratory Disorders, and Others), by Drug Type (Small-molecule Drugs and Biological Drugs), by Geography, Forecast, 2020-2027

Clinical Trial Support Services Market by Phase (Phase I, Phase II, Phase III, and Phase IV), by Study Design (Interventional, Expanded Access, and Observational), by Indication (Autoimmune/Inflammation, Oncology, Diabetes, Cardiovascular, and Others), by Geography, Forecast, 2020-2027

Top 10 healthcare data analytics companies following 'Big Data' megatrend

Visualize Clinical Trial Market using Verified Market Intelligence:-:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us

Mr. Edwyne Fernandes
Verified Market Research
US: +1 (650)-781-4080
UK: +44 (753)-715-0008
APAC: +61 (488)-85-9400
US Toll Free: +1 (800)-782-1768
Email: [email protected]
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter

SOURCE Verified Market Research