Global Clinical Trials Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026

MarketResearch.Biz delivers in-depth insights in its upcoming report titled, “Global Clinical Trials Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026”. The global clinical trials market is estimated to register a CAGR of X.X% in terms of value during the forecast period. The report offers in-depth insights, revenue details, and other vital information regarding clinical trials and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. The report offers insightful and detailed information regarding the various key players operating in the global market, and their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global clinical trials market report has been segmented on the basis of phases of clinical trials, study designs, indication, and region.

Clinical trials are research studies performed on prospectively assigned human participants or groups of humans to gain specific information about biomedical interventions such as novel vaccines, treatments, and drugs. Clinical trials are regulated by health authorities and ethics committees to ensure effective regulation of medicines. This process requires a variety of functions, including evaluating safety and efficacy data of new drugs developed during clinical trials, licensing, and inspecting manufacturing facilities and distribution channels. Other responsibilities include monitoring adverse drug reactions for investigational and marketed drugs, and controlling drug promotion and advertising. Clinical trial data is mandatory for further approval of any drug and to bring it into the market.

Clinical trials are conducted in four phases namely, Phase I, Phase II, Phase III, and Phase IV. Phase I trials are conducted for safety before a trial commences. Phase II is conducted for safety and efficacy, while Phase III is conducted for final confirmation on completion or termination of trial. Phase IV is conducted for post-drugs sales studies. During the four phases required documentations are created and audited on timely basis according to trial progression.

The International Conference on Harmonisation (ICH), along with regulatory authorities in Europe, the US, Japan and experts from pharmaceutical industries frame and regulate the technical and scientific aspects of pharmaceutical product registration and state rules and standard guidelines for clinical trials, for registration of pharmaceuticals for human use. ICH guidelines are followed as law in several countries across the world.

Technological advancements and increasing demand for innovative solutions in the healthcare industry are factors driving growth of the global clinical trials market. However, high cost of trials, stringent regulations, and risks to clinical trial participants are factors restraining market growth. Risk to participants decreases from phase I to phase IV, but the number of participants increases during the phases, which increases cost of trials.  As a result, many companies outsource their clinical trial processes to contract research organizations (CROs). Contract research organizations provide services such as clinical trial management, clinical research, and preclinical research. Hence, demand for outsourcing of clinical trials is increasing significantly, which is expected to further drive growth of the target market over the forecast period.

North America is currently the largest consumer of global clinical trials solutions, followed by Europe. The clinical trials market in Asia Pacific represents high growth potential and is expected to register comparatively high revenue contribution to the global market over the forecast period. Among the countries in the region, India is an attractive market owing to presence of skilled medical faculty and personnel, and also due to favorable government support.

Global clinical trials market segmentation, by phases:

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

Global clinical trials market segmentation, by study design:

• Interventional trials
• Observational trials
• Expanded Access trials

Global clinical trials market segmentation, by indications/symptoms:

• Autoimmune
• Blood disorders
• Cancer
• Circulatory
• CNS
• Congenital
• CVS
• Dermatology
• Ear
• Gastrointestinal
• Genitourinary
• Infections
• Mental disorders
• Metabolic
• Musculoskeletal
• Nose
• Ophthalmology
• Others

Global clinical trials market segmentation, by region:

• Europe
• North America
• Asia Pacific
• Latin America
• Rest of World

• Eli Lilly and Company
• Novo Nordisk A/S
• Ranbaxy Laboratories Ltd.
• Sanofi Aventis A.S.
• Roche Group.