Clinical Trial Services Market worth US$101.86 billion by 2030 with 8.9% CAGR | MarketsandMarkets™

DELRAY BEACH, Fla., March 12, 2025 /PRNewswire/ -- The global Clinical Trial Services Market, valued at US$60.76 billion in 2024, is forecasted to grow at a robust CAGR of 8.9%, reaching US$66.59 billion in 2025 and an impressive US$101.86 billion by 2030. Factors such as the growing focus on patient-centric clinical trials such as Decentralized Clinical trials (DCTs) and the increasing number of clinical trials for precision/personalized medicines are supporting the growth of this market. Moreover, the upcoming therapeutic drugs patent cliff is propelling major pharmaceutical companies to heavily invest in R&D and outsource their clinical trial service. Additionally, CROs offer service flexibility which enables sponsors to modify their outsourcing strategies and optimize costs by paying only for required resources and expertise. Additionally, the rise in pediatric clinical trials for various therapeutic drugs and increasing pressure from regulatory bodies to conduct diversified clinical trials offer growth opportunities for CROs offering these specialized services. However, challenges associated with the cybersecurity of patient data and sponsors' intellectual properties, and patient retention during trials hinder the growth of the market to a certain extent.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=405

Browse in-depth TOC on "Clinical Trial Services Market"

661 - Tables
61 - Figures
521 - Pages

By Based on Modality, the clinical trial services market is divided into small molecules, biologics, and medical devices. The large share of the small molecules clinical trial segment can be attributed to the established role of these drug modalities in drug development across various therapeutic areas. Small molecules have a high oral bioavailability, making them more convenient for patients compared to biologics. Additionally, pharmaceutical companies continue to invest in small molecule research due to their cost-effectiveness, stability, and ability to target intracellular pathways, maintaining their dominance in clinical trials.

By on Therapy Area, the clinical trial services market is segmented into oncology, neurology, infectious diseases, cardiovascular system (CVS) disorders, metabolic disorders/endocrinology, immunological disorders, respiratory disorders, psychiatry, dermatology, hematology, ophthalmology, gastrointestinal diseases, genitourinary & women's health, and other therapeutic areas. The oncology segment accounted for the largest share of the clinical trial services market by therapy area in 2024. The large share of this segment is attributed to the increase in global cancer cases due to aging populations and lifestyle factors, supported by rising demand for new treatments. For this reason, pharmaceutical companies are increasingly investing and collaborating with CROs to develop advanced oncology drugs. This dominance is expected to continue throughout the forecast period as major players are developing new technologies for better oncology treatment.

By geography, the clinical trial services market is divided into six regions, North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2024, North America held the largest share of the clinical trial services market, followed by Europe. Aisa Pacific registered the highest CAGR growth within the clinical trial services market during the forecast period owing to its large patient population, high prevalence of chronic and infectious diseases, and increasing focus on developing biologics, biosimilars, and advanced therapies. Global pharmaceutical companies are increasingly relocating manufacturing and clinical research to the region to leverage cost benefits, regulatory advancements, and improved patient retention in trials. Additionally, government support and rising investments in clinical research have further accelerated the outsourcing of clinical trial activities to APAC.

Request Sample Pages : https://www.marketsandmarkets.com/requestsampleNew.asp?id=405

Key players in the clinical trial services market include IQVIA Inc. (US), Thermo Fisher Scientific Inc. (US), Fortrea (US), ICON Plc (Ireland), Syneos Health (US), Laboratory Corporation of America Holdings (US), Medpace (US), Wuxi AppTec (China), Frontage Labs (US), Pharmaron (US), Tigermed (China), SGS Société Générale De Surveillance SA. (Switzerland), Eurofins Scientific (Luxembourg), Linical (Japan), Parexel International Corporation (US), Worldwide Clinical Trials (US), Novotech (Australia), PSI (Switzerland), Allucent (US), Premier Research (US), Clario (US), KCR S.A. (US), Rho, Inc. (US) and Advanced Clinical (US) among others.

IQVIA Inc. (US):

is one of the key players in the clinical trial service market offering various clinical research services to major pharmaceutical and medical device companies. The company utilizes advanced technology, data analytics, and artificial intelligence (AI) to improve patient recruitment, site selection, and trial monitoring, reducing costs and timelines. IQVIA also supports decentralized clinical trials (DCTs) with digital platforms and remote monitoring, making trials more accessible and patient friendly. Its flexible service models, including Functional Service Provider (FSP) and hybrid approaches, allow companies to customize their outsourcing needs. With expertise in precision medicine and complex trial designs, IQVIA manages studies for advanced drug modalities like cell and gene therapies. The company has launched One Home for Sites, a technology platform that streamlines clinical trial management by integrating multiple applications into a single dashboard, improving site efficiency. Additionally, IQVIA has partnered with NVIDIA to develop AI-driven solutions that enhance automation and precision in clinical research. The company also has a strong global presence and operates in more than 100 countries across North America, Europe, Asia, Latin America, and Africa.

Icon Plc (Ireland):

is a leading CRO offering clinical trial services such as clinical trial management, consulting, contract staffing, data solutions, and laboratory services spanning the entire lifecycle of product development. The company supports clinical research activities for pharmaceutical and medical device companies offering flexible outsourcing solutions, and providing clients with scalable resources and expertise across various functions, including clinical monitoring and data management. In January 2025, the company expanded its portfolio of artificial intelligence (AI) tools to improve study startup, document management, resource forecasting, and operational metrics. Its AI Centre of Excellence has developed tools such as iSubmit for document automation, Mapi Research Trust COA for real-time Clinical Outcome Assessment updates, FORWARD+ for resource management, and Study Start-up Site Contracts for contract drafting. Additionally, in 2023, ICON partnered with LEO Pharma to strengthen clinical trial execution in medical dermatology by combining full outsourced and functional service provider (FSP) models, optimizing trial scalability and efficiency while improving patient access to innovative treatments. The company operates in 106 locations across 53 countries worldwide.

Thermo Fisher Scientific Inc. (US):

became a leading player in the clinical trial services market following its USD 17.4 billion acquisition of PPD in December 2021. The company operates through four business segments: laboratory products and biopharma services, life sciences solutions, specialty diagnostics, and analytical instruments, and offers clinical trial services through its clinical research business unit under its laboratory products and biopharma services operating segment. The company utilizes advanced analytics, real-world data (RWD), and decentralized clinical trial (DCT) capabilities to optimize study execution and improve patient access. PPD has strengthened its position through strategic collaborations, such as its partnership with the National Institute of Allergy and Infectious Diseases (NIAID) to support HIV clinical research, focusing on clinical site monitoring and drug resistance studies. Additionally, in 2024, PPD expanded its collaboration with Medidata to enhance trial efficiency through AI-driven solutions like PPD TrueCast, which improves study timelines using predictive modeling.

Syneos Health (US):

is a fully integrated biopharmaceutical solution provider focusing on Phase I to IV clinical development services for the biopharmaceutical and medical device industries. Its services include a fully integrated biopharmaceutical solution provider focusing on Phase I to IV clinical development services for the biopharmaceutical and medical device industries. The company has expanded its global clinical trial capabilities through strategic collaborations. For instance, in January 2025, the company partnered with ACTIVATO to strengthen trial operations in Japan by improving patient access, streamlining site selection, and accelerating trial processes through centralized IRB and ICF strategies. Similarly, the company collaborated with the Pacific Clinical Research Network (PCRN) in New Zealand to enhance trial efficiency and participant safety across PCRN's nine sites. These partnerships align with the company's strategy to optimize clinical development worldwide while ensuring high-quality research and efficient trial execution.

Fortrea (US):

is a key player in the clinical trial service market offering services such as clinical development, patient access solutions, and consulting to pharmaceutical, biotechnology organizations, and medical device companies. The company's service portfolio includes comprehensive Phase I through IV clinical trial management, clinical pharmacology, differentiated technology-enabled trial solutions, and post-approval services. The maintain its position in the market the company launched its AI Innovation Studio, an AI-driven platform aimed at optimizing clinical trial executions. Moreover, the company also focuses on inorganic growth strategies such as collaboration to support its growth, for instance, in January 2024, the company partnered with Veeva Systems and Advarra to enhance the clinical trial experience by streamlining clinical trial operations through the integration of Veeva's cloud-based applications and Advarra's Longboat solution into a unified platform.

For more information, Inquire Now!

Related Reports:

Clinical Trial Imaging Market

Clinical Trial Supplies Market

AI in Clinical Trials Market

eClinical Solutions Market

Clinical Informatics Market

Get access to the latest updates on Clinical Trial Services Companies and Clinical Trial Services Market Size

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.

Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.

The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.

In addition, MarketsandMarkets SalesIQ enables sales teams to identify high-priority accounts and uncover hidden opportunities, helping them build more pipeline and win more deals with precision.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter , LinkedIn and Facebook .

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/

Logo: https://mma.prnewswire.com/media/1868219/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets