Clinical Trials Market Size

Clinical Trials Market Size

Clinical Trials Market size recorded more than USD 55.5 billion in 2022 and will exhibit 5.9% CAGR from 2023-2032. Burgeoning prevalence of chronic diseases is expected to favor market dynamics.

The significantly increasing number of initiatives undertaken by several government and non-government organizations will anchor clinical trials industry expansion. To illustrate, the WHO introduced an international clinical trial, Solidarity, for offering efficient treatment to the COVID-19 infected patients. The rising funds for several clinical trials from government funding agencies as well as pharmaceutical companies will also influence the industry dynamics.
 

The limitations of R&D infrastructure in most Asian countries considering its large concentration in the metropolitan areas may minimise the demand for clinical trials. With insufficient amount of research across several developing nations, clinical trials are constituting a small part of the total research output. Hence, infrastructural constraints across the healthcare domain, mostly in the smaller cities and remote parts of the developing countries may restrict the industry share. The dearth of adequate number of experienced investigators and trained support personnel is another limiting factor for the industry development.