Market Analysis - Clinical Trials 2017
The global clinical trials market has been estimated to reach $14.2 billion in 2016 and is projected to reach around $22 billion by the year 2021, growing at 7.5% of CAGR. And the global clinical trial management system market is valued at an estimated $534.0 Million in 2016, and it is projected to reach $920.0 Million by 2021, growing at a CAGR of 11.5% during the forecast period of 2016 to 2021. The growth in this market is primarily driven by factors such as increasing research and development expenditure of life science and clinical research industries, rising number of clinical trials, and increasing adoption of CTMS solutions are driving the growth of the global clinical trial management system market. On the other hand, factors such as lack of skilled professionals to operate advanced CTMS solutions and budget constraints of small- and medium-sized pharmaceutical and biotechnology companies and small CROs are restraining the growth of the global clinical trial management system market.
Clinical trial is a part of clinical research that follows a regulated protocol. Clinical trials are primarily performed to get data on safety and efficacy of the new developed drug. Clinical trial data is mandatory for further approval of the drug and to bring it into the market. The increasing disease burden is propelling the pharmaceutical and biotechnology industry to bring up new chemical entities into the market at a higher rate. Most companies are outsourcing the clinical trials of their newly developed drugs to various contract research organizations as this could save them the hassles of regulatory issues and patient recruitment burden from the research and development phase. Clinical trials allow the drug to be tested for safety by different ethnic population. Due to the higher medical needs and increasing disease prevalence, developing countries are becoming a hub for clinical trial execution. Since 2006, there has been an increased number of trials registered worldwide and it is estimated to increase further in the coming years, which would contribute to the market growth.
Global Clinical Trials Market by Region:
The United States and Canada have the highest market share in the clinical trials market, followed by Europe where Germany leads the market followed by Poland and Western Europe. Asia is one of the fastest growing markets. India, China, Singapore and South Korea are the major players involved in this market. This high growth is attributed to the fact that the cost involved in performing a trial is less and the huge domain it provides in the aspect of diseases and patients.
Global Clinical Trials Market based on End User:
Based on end users, the clinical trial management system market is categorized into pharmaceutical and biopharmaceutical companies, contract research organizations, medical device companies, and other end users. The pharmaceutical and biopharmaceutical companies segment is expected to account for the largest market share in 2016, primarily due to the increasing R&D expenditure of this segment. North America is expected to account for the largest share of the market in 2016, followed by Europe. However, the Asia-Pacific market is projected to grow at the highest CAGR during the forecast period. Factors such as increasing outsourcing of clinical trials, availability of large and diverse patient population, presence of less stringent regulatory guidelines as compared to developed nations, and comparatively less cost of conducting clinical trials in APAC countries are stimulating the growth of the market in this region.
Major companies involved in Clinical Trials globally:
The key market players of the global clinical trials market that are expecting the high growth of the market with respect to the growing global prevalence of chronic diseases and increasing geriatric population and these companies adopt various strategies such as collaborations, expansions and acquisitions to increase their market share and to establish a strong foothold in the global clinical trials market.
- ICON Plc
- Charles River
- Bio Optronics
- MedNet Solutions
- Forte Research
Clinical Trials 2017 Conference is a multidisciplinary program with broad participation with members from around the globe focused on learning about clinical research and its advances. This is your best opportunity to reach the largest assemblage of participants from Clinical Trials community that is from academia, clinical research entities, medical groups, related associations, societies and also from government agencies, pharmaceutical, biomedical and medical device industries.
Clinical Trials 2017 will discuss various disciplines involved in the Preclinical research, Conducts of clinical trials, Patient centric clinical trials, Innovations in clinical trials, Future of clinical trials, Globalization of clinical trials, Outsourcing in clinical trials, Clinical trials supply management, Post-marketing surveillance and many more. It will educate health care researchers about design, operation, organizing, research computing, regulatory aspects and reporting of clinical trials. It promotes better understanding by the general public about the importance of clinical trials in prevention, diagnosis and treatment of disease. This conference conduct presentations, distribute information, meet with current and potential scientists, clinical researchers, CROs, Senior executives from pharma, biotech and medical devices industries. Make a splash with most recent techniques, developments and the newest updates in clinical trials and receive name recognition at this 3-days event.