United States Clinical Trials Support Services Market Analysis Reprot 2023-2028: Pharma & Biotech Companies Invest Heavily, Phase III Trials Anticipated to Showcase Highest Growth Rate

DUBLIN, Oct. 17, 2023 /PRNewswire/ -- The "US Clinical Trials Support Services Market - Focused Insights 2023-2028" report has been added to  ResearchAndMarkets.com's offering.

In the US, the clinical trial support services market was valued at $7.43 billion in 2022 and is expected to reach $10.44 billion by 2028, growing at a CAGR of 5.84%

This comprehensive report provides valuable insights into the US clinical trial support services market, covering market size and forecasts. It specifically focuses on services offered in the phases of clinical trial development (phase I, phase II, phase III, and phase IV), excluding services related to discovery, pre-clinical, and phase 0 stages of development.

The demand for clinical trial support services is witnessing a significant upswing, driven by various factors such as a surge in research and development activities, a high prevalence of chronic diseases, and the increasing adoption of clinical trial support services.

Among the service types, site management systems hold the largest market share, accounting for 43.03% in 2022, and are expected to exhibit the highest compound annual growth rate (CAGR) of 5.37% during the forecast period. This heightened demand for site management systems can be attributed to the growing disease burden, rising prevalence of chronic illnesses, and an increasing number of clinical trials.

In terms of phases, the Phase III segment boasts the largest share, comprising 45.55% in 2022, and is projected to experience the highest CAGR of 6.19% during the forecast period. Factors contributing to this growth include the growing number of clinical trials and the high prevalence of chronic diseases, among others.

Within the end-user category, pharma & biotech companies occupy the largest market share, with 66.32% in 2022, and are expected to exhibit the highest CAGR of 5.50% during the forecast period. The market's expansion is driven by the substantial prevalence of chronic diseases and the increasing research and development expenditure by pharma & biotech companies.

Regarding applications, the cancer segment leads with the highest share at 33.64% in 2022, and it is projected to grow at the highest CAGR of 6.14% during the forecast period. Factors fueling this growth include the rising incidence of cancer conditions, the demand for clinical trials, and a continuous increase in cancer patients.

Prominent companies dominating the US clinical trial support services market include Charles River Laboratories, IQVIA Inc, Icon plc, Labcorp Drug Development, and Syneos Health. These major players are actively engaged in strategic acquisitions and collaborations with emerging players to establish their presence in the clinical trial support services market.

The report offers an in-depth analysis of the current market dynamics for the US clinical trial support services market from 2023 to 2028. It encompasses a detailed overview of various factors driving market growth, as well as factors constraining it. The study considers both the demand and supply aspects of the market, providing a comprehensive understanding of the industry's landscape. Additionally, it profiles and assesses leading companies and prominent players operating within the market.

VENDORS LIST

• Charles River Laboratories
• IQVIA Inc
• Icon plc
• Labcorp Drug Development
• Syneos Health
• Thermo Fisher Scientific
• WuXi AppTec
• Paraxel
• Advanced Clinical
• ProtaGene
• Curia Global
• Aixial Group
• Cromos Pharma
• Criterium
• KCR S.A.
• Medpace
• Medelis
• Worldwide Clinical Trials
• Sofpromed
• Veristat

PRODUCT SEGMENTATION & FORECAST

Market Structure

• Market Dynamics
• Competitive Landscape of Clinical Trial Support Services Market
• Key Vendors
• Other Prominent Vendors

By Service

• Site Management
• Recruitment Management
• Data Management
• Institutional Review Board
• Others

By Phase

• Phase III
• Phase II
• Phase IV
• Phase I

End-user

• Pharmaceutical & Biotech Companies
• Medical Device Companies
• Others

By Application

• Cancer
• Cardiovascular Diseases
• Nervous System Diseases
• Infectious Diseases
• Musculo-skeletal Diseases
• Gastroenterology Diseases
• Others

For more information about this report visit https://www.researchandmarkets.com/r/qgbtn6

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SOURCE Research and Markets