Clinical Trials Market Worth $78.3 Billion By 2030 | CAGR: 5.8%

April 2022 | Report Format: Electronic (PDF)

Clinical Trials Market Growth & Trends

The global clinical trials market size is expected to reach USD 78.3 billion by 2030, registering a CAGR of 5.8% during the forecast period, according to a new report by Grand View Research, Inc. An increase in the volume and complexity of clinical trials has been witnessed lately, which plays an important role in the R&D of new drugs and products. The market witnessed a decline of 6% in 2020 owing to the COVID-19 pandemic. However, the market is projected to recover from 2021 onwards. In addition, clinical trials have become increasingly costly, adding to the overall cost of developing a drug.

The increasing need for developing new drugs for chronic diseases, such as cancer, respiratory disorders, diabetes, cardiovascular diseases, and others, is creating immense pressure on the healthcare industry. The COVID-19 pandemic and the increasing demand for developing a suitable treatment are driving the market. The high number of people affected by the disease further depicts an increasing need for therapeutics & vaccines. Currently, there are 288 therapeutics and 106 vaccines under development, out of which, nearly 7.0% of therapeutics are in Phase IV, 21.0% in Phase III, and 43.0% & 13.0% in Phase II & Phase I, respectively.

The pandemic has resulted in the global disruption of traditional onsite clinical trials. Hence, regulatory bodies worldwide have undertaken various initiatives for fast-tracking clinical trials for the development of innovative solutions. One such instance is Solidarity, an international clinical trial launched by the WHO to find effective treatment against COVID-19. Although the pandemic has forced many medical device & drug developers to revise the approach to such crises, integrating best practices within clinical trial procedures & adapting to virtual trials, which can support the continuous development of therapeutics.


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Clinical Trials Market Report Highlights

  • The phase III clinical trials segment dominated the market with a 53.4% share in 2021. This can be attributed to the complexity of this phase

  • The interventional design segment accounted for the largest share of 45.7% in 2021 in the study design segment owing to the increasing demand for the intervention for clinical trials by researchers

  • North America held 50.7% of the market share in 2021. Favorable government initiatives and the presence of a large number of players in the U.S. that offer advanced services are responsible for market growth

  • The Asia Pacific region is expected to grow at the fastest CAGR of 6.8% over the forecast period owing to the increasing patient pool and cost-efficient services.

Clinical Trials Market Segmentation

Grand View Research has segmented the global clinical trials market based on phase, study design, indication, indication by study design, sponsor, and region:

Clinical Trials Phase Outlook (Revenue, USD Million, 2017 - 2030)

  • Phase I

  • Phase II

  • Phase III

  • Phase IV

Clinical Trials Study Design Outlook (Revenue, USD Million, 2017 - 2030)

  • Interventional

  • Observational

  • Expanded Access

Clinical Trials Indication by Study Design Outlook (Revenue, USD Million, 2017 - 2030)

  • Autoimmune/Inflammation

    • Rheumatoid Arthritis

    • Multiple Sclerosis

    • Osteoarthritis

    • Irritable Bowel Syndrome (IBS)

    • Others

  • Pain Management

    • Chronic Pain

    • Acute Pain

  • Oncology

    • Blood Cancer

    • Solid Tumors

    • Other

  • CNS Condition

    • Epilepsy

    • Parkinson's Disease (PD)

    • Huntington's Disease

    • Stroke

    • Traumatic Brain Injury (TBI)

    • Amyotrophic Lateral Sclerosis (ALS)

    • Muscle Regeneration

    • Others

  • Diabetes

  • Obesity

  • Cardiovascular

  • Others

Clinical Trials Indication Outlook (Revenue, USD Million, 2017 - 2030)

  • Autoimmune/Inflammation

    • Interventional

    • Observational

    • Expanded Access

  • Pain Management

    • Interventional

    • Observational

    • Expanded Access

  • Oncology

    • Interventional

    • Observational

    • Expanded Access

  • CNS Condition

    • Interventional

    • Observational

    • Expanded Access

  • Diabetes

    • Interventional

    • Observational

    • Expanded Access

  • Obesity

    • Interventional

    • Observational

    • Expanded Access

  • Cardiovascular

    • Interventional

    • Observational

    • Expanded Access

  • Others

    • Interventional

    • Observational

    • Expanded Access

Clinical Trials Sponsor Outlook (Revenue, USD Million, 2017 - 2030)

  • Pharmaceutical & Biopharmaceutical Companies

  • Medical Device Companies

  • Others

Clinical Trials Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Spain

    • Italy

  • Asia Pacific

    • India

    • Japan

    • China

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

List of Key Players in the Clinical Trials Market

  • IQVIA

  • PAREXEL International Corporation

  • Pharmaceutical Product Development, LLC

  • Charles River Laboratory

  • ICON Plc

  • PRA Health Sciences

  • Syneos Health

  • Eli Lilly and Company

  • Novo Nordisk A/S

  • Pfizer

  • Clinipace

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