Clinical Trials Market Analysis

Clinical Trials Market Analysis

Clinical trials market size from the phase III segment will exceed USD 45.5 billion by 2032. Phase III clinical trials are increasingly used for demonstrating the improvements and equality to the standard of care of new combination of drugs. These clinical trials are also deployed for determining and confirming the primary evidence collected during the previous phases of the drug candidates. Hence, the rising demand for phase III clinical trials as they are safe and beneficial while offering efficient treatment for the intended actions will contribute to the market expansion.

Based on study design, the clinical trials market share from the interventional study segment will reach over USD 75 billion by 2032. Interventional study can be considered an improved method of measuring the efficacy of new intermediation to provide relatively more evidence. They are hence conducted for a large number of biologics and drugs. The declined recall bias given that the information on exposure is achieved before the disease development is another advantage associated with interventional study.
 

Clinical trials market valuation from the cardiology therapeutic area segment may exhibit 6.5% CAGR from 2023-2032. The influx of modern lifestyle changes has spurred the higher prevalence of cardiovascular diseases globally, further leading to disorders, including myocardial infarction, such as heart attacks and strokes. The WHO (World Health Organization) estimated that strokes and heart attacks are responsible for four out of five cardiovascular disease (CVD) associated deaths. The rising demand for effective and personalized medicines will thus subsequently boost the industry trends.
 

North America held over 54% share of the clinical trials market in 2022 driven by the rapidly growing geriatric population in the region suffering from several chronic diseases and age-related disorders. As per the National Council on Aging, around 80% of adults aged above 65 years suffer from at least one chronic condition. This expanding disease penetration has led to the higher focus of various pharmaceutical organizations on novel drug development for effective treatment. The thriving demand for medicinal therapies, drugs, as well as medical devices will thus favor the regional market progression.