Clinical Trial Support Services Market Size and Business Opportunities

Press Release

Feb 2021

Global Clinical Trial Support Services Market

The global clinical trials support services market is anticipated to grow on account of growing demand from emerging economies coupled with rising in research and development expenditure & prevalence of diseases. Furthermore, unmet needs of clinical trials for novel drugs across the emerging nations are projected to fuel clinical trials support services market growth over the forecast period.

Over the last few years, the research and development investment of pharma companies is gradually growing. This is largely attributed to multiple patent expiries, as there are also pharmaceutical firms who would have no other choice than to produce new innovative survival molecules as a result of the patent expiry. Companies are now investing more in research and development to promote the development of medicines through clinical trials and, henceforth this is anticipated to boost clinical trials support services market development over the forecast period.

Adroit Market Research report on the global clinical trial support services market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities, and challenges. The market has been studied for the period 2018 to 2028, with the base year of estimation as 2019 and forecast from 2020 to 2028. The report covers the current status and future traits of the market at the global as well as country level. Also, the study assesses the market competition with Porter's five forces analysis and company positioning based on their product portfolio, geographic footprint, strategic initiatives, and overall revenue. Prominent players operating in the global clinical trial support services market have been studied in detail.

North America currently holds the largest share in the clinical trial support services market owing to the presence of a significant number of major players across the region along with growing investments by the established firms. However, Asia Pacific is going to record growth at a faster pace on account of the growing geriatric population especially across emerging economies such as India, China, and Japan in particular. Furthermore, the market growth across the Asia Pacific region is attributed to the rising government focus on the development of advanced healthcare facilities for the growing population.

The prominent players operating in the global clinical trial support services market include Charles River Laboratories, Inc., Eurofins Scientific, Laboratory Corporation of America Holdings (Covance Inc.), Alcura Health, Insight Genetics, PPD Inc., Parexel International, Icon PLC, IQVIA, and WuXi AppTec among other prominent players.

Key segments of the global clinical trial support services market

Phase Overview, 2018-2028 (USD Million)