Clinical trials are research studies performed in human beings, aimed to evaluate a medical, surgical, or behavioral intervention. It is a primary way of estimating safety and efficacy of a new entity or pharmaceutical products intended for human use. Based on preclinical study data, the U S. Food Drug and Administration (FDA) approves the clinical trials that involve human volunteers. The study results are favorable then FDA approves the drug in market for further vigilance. Rising demands of innovative drugs for novel treatment of various diseases are propelling the clinical rail market growth. 

CLINICAL TRIALS MARKET OUTLOOK

The clinical trials market is majorly driven by the demand for clinical trials in emerging markets and increasing prevalence of various diseases. Major market players are investing in research and development for invention of novel treatment which demands clinical trials for approval in market. Also, the rising government funding grants to support clinical trials is pushing the clinical trials market growth.

However, lack of skilled professionals, stringent rules for human volunteer’s enrollment in clinical trials and lower healthcare reimbursement in the developing countries are hampering the growth in market share.

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CLINICAL TRIALS MARKET SEGMENTAL OVERVIEW

The clinical trials market is segmented by phase type, design, indication and geography.

CLINICAL TRIALS MARKET BY PHASE TYPE

Clinical trial phases are basically of four types includes phase I, phase II, phase III and phase IV. In phase IV of clinical trials, the FDA approved new drug is tested on large number of population and the adverse reactions missed in previous phases are analyzed and documented. 

CLINICAL TRIALS MARKET BY DESIGN

The clinical trials are designed based on the objective of the trails such as treatment studies and observational studies are carried out. Treatment Studies includes randomized control trial, adaptive clinical trial and observational studies. Randomized control trial is design to access the efficacy of a new drug in humans by comparing with control condition. The purpose of randomized control trial is to avoid selection bias. Observational studies include cohort study, case control study, cross sectional study and ecological study.

CLINICAL TRIALS MARKET BY INDICATION

Clinical trials are carried out for various indications such as autoimmune disorders, inflammation, pain management, oncology, CNS condition, diabetes, obesity, cardiovascular and other indications including nephrology, dermatology and epidemic outbreaks.

CLINICAL TRIALS MARKET BY GEOGRAPHY

The clinical trials market is analyzed across the various regions geographically including North America, Europe, Asia Pacific and rest of world. In North America, Canada and the U.S. are the major regions where the clinical trials are predominantly performed. North America held the dominant position in 2018, due to increasing research and developmental activities for an ideal treatment better treatment. Also, the Asia pacific is expected to grow rapidly during projection period 2019 to 2025, due to significant partnership with clinical research organizations.

CLINICAL TRIALS MARKET KEY PLAYERS

Pivotal market performers in the clinical trials market are Laboratory Corporation of America, IQVIA, Alcami Corporation, Accell Clinical Research, LLC , Aptiv., Covance Inc., Navitas Life Sciences , Syneos Health, Eurotrials, Parexel International, PRA Health Sciences ,SIRO Clinpharm, TCG Lifesciences Private Limited, WuXi AppTec Group ,SGS SA, F. Hoffmann-La Roche Ltd, Clinipace Worldwide, Inc. and Charles River . Major players operating in this market are focusing on partnership with CROS’s for development of innovative treatment therapies for the emerging complicated diseases, to enhance the market share.

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