Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Research Reports

Clinical Trials Market are set to witness growth at a CAGR of 4.41% and be valued at around US$ 177.7 Billion by 2033

Clinical trials are research studies that investigate the safety and effectiveness of medical interventions, such as drugs, devices, or procedures, in human subjects. Clinical trials are an essential part of the drug development process, and they are conducted in several phases to gather information about the intervention’s safety and efficacy.

NEWARK, Del: The global Clinical Trials Market is anticipated to augment at a flourishing CAGR of 4.41% over the forecast period from 2023 to 2033. The global market is expected to enjoy a valuation of US$ 115.4 Billion by the end of the year 2023 and reach a valuation of US$ 177.7 Billion by the year 2033. According to the historical analysis held by FMI, the global clinical trials market expanded at a CAGR of 4.10% from 2017 to 2022. As per the recent FMI study, the industry sponsors are predicted to lead the market with an exponential share of about 54.7% in the year 2023, within the global market.

Various state governments and private players are closely examining the economic benefits of novel treatments as healthcare expenditures. Since there is a surge in the proportion of GDP in every country, the growth of clinical trials is also anticipated to bolster globally. Furthermore, regulations are increasingly expecting clinical studies to show not only safety and efficacy but also a significant influence on patients’ lives. This is especially true for expensive, specialized therapies for smaller patient populations. In addition to that, the higher complexity of clinical study development and design is rising as a result of the regulators’ and payers’ increased expectations for the quality and amount of evidence produced during clinical trials.

Download Sample Copy@

It has been estimated that about 30% of all studies were based on clinical trials for various cancer additions. It also happens to be the therapeutic area with the most drug launches. Few of the top industry clinical trial sponsors dedicated a sizeable amount of their research and development budget to the cancer medicine portfolio. In addition to that, several new businesses presently employ predictive analytics tools including artificial intelligence and machine learning, to build models and inform choices.

Key Takeaways 

  • Clinical trial sponsors have been recently outsourcing the clinical trials business to various countries such as China, India, Russia, and Brazil for the past few years. Irrespective of the fact that a third of the global clinical trials market is registered in the United States.
  • The emerging economies are favorable as they offer a substantial patient pool, an established healthcare system in urban areas, and an abundance of qualified clinical staff for coordinating clinical trials.
  • Governments in various nations also offer incentives for clinical trial sponsors to conduct these trials overseas, because they are typically shorter and thus more affordable. Offshoring clinical trials have been hampered by a number of ethical concerns identified concerning clinical trials in developing countries.
  • With a strong pipeline of therapeutic molecules paving the path, new pharmaceutical and biotechnology businesses are continuing to have an impact on the clinical trials market. In addition to that, several drugs without prior marketing clearance are a bigger priority for major companies like Johnson & Johnson and GlaxoSmithKline, among others.
  • Non-small cell lung cancer (NSCLC) and breast cancer were primarily targeted for clinical development among the numerous oncology indications. However, the oncology market clinical trials are progressively getting more complicated based on patient recruitment, clinical trial design elements like outcomes, and more stringent eligibility requirements, among other things.
  • Predictive analytical techniques have proven to be effective in clinical trial design in order to discover patient features. They are more inclined to respond to a specific therapeutic regimen, hence raising the success rates and lowering the risk too big, multi-center clinical studies. This is because clinical trial investigators presently have access to a wide range of health data.

Request for Report Customization@

Competitive Landscape 

Key players in the global clinical trials market are increasing activities related to contract research and contract manufacturing of novel biopharmaceuticals, as well as the growing expansion of key players into emerging economies of India and China are the key drivers within the overall market.

Rapid enhancements in the fields of depersonalized and genomic medicine are anticipated to drive market growth. Additionally, the propensity to adopt software including Laboratory Information Management for laboratory sample tests has also been accelerating market expansion.

More Insights into the Clinical Trials Market

The North American market is anticipated to dominate the global clinical trials market. The U.S. is estimated to share about 47.8% of revenue in 2023 and is expected to continue to experience the same growth throughout the forecast period.

Ask an Analyst@

Key Players: 

  • Johnson & Johnson,
  • AstraZeneca,
  • Merck & Co.,
  • Roche,
  • Bristol-Myers Squibb

Key Market Segments Covered in Clinical Trials Industry Research


  • Industry
  • Government Organizations
  • Non-Government Organizations
  • Others
  • Associations


  • Oncology
  • Infectious Diseases
  • Metabolic Diseases
  • Cardiovascular Diseases
  • Neuroscience
  • Respiratory Diseases
  • Others


  • Phase 1
  • Phase 2
  • Phase 3
  • Phase 4


  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa (MEA)

Browse full Report@

Table of Content

  1. Executive Summary | Clinical Trials Market

    1.1. Global Market Outlook

    1.2. Demand Side Trends

    1.3. Supply Side Trends

    1.4. Analysis and Recommendations

  1. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

    2.3. Inclusions and Exclusions

  1. Key Market Trends

    3.1. Key Trends Impacting the Market

    3.2. Market Innovation / Development Trends

  1. Key Success Factors

    4.1. Disease Epidemiology, by Region

    4.2. Service Adoption Analysis

    4.3. Regulatory Landscape

    4.4. Reimbursement Scenario

    4.5. Rise in Demand for Personalized Biologics

    4.6. PESTEL Analysis

Request a Complete TOC of this Report@

Explore FMI’s related ongoing Coverage on Healthcare Market Insights Domain

Biodefense Market Size: The size of the global biodefense market was projected at US$ 16.31 billion in 2023 and is predicted to increase to US$ 32.99 billion by 2033. The expected CAGR for this market’s growth throughout the course of the study is 7.3%.

Erythema Treatment Market Share: The market for erythema treatments is anticipated to reach a market size of US$ 184.41 million in 2023 and US$ 315 million in 2033, with a CAGR of 5.5% over that time.

Softgel Capsules Market Trend: The global softgel capsules market is expected to enjoy a valuation of US$ 1.1 Billion by the end of the year 2022, and further expand at a CAGR of 6.0% to reach a valuation of ~US$ 1.9 Billion by the year 2032.

Gastrointestinal Stent Market Growth: By the end of 2022, the market for gastrointestinal stents will be worth US$ 455.44 million. The market is anticipated to grow at a CAGR of 5.5% from 2023 to 2033 and is projected to reach a market value of about US$ 815.34 Million in that year.

Stoma/Ostomy Care Market Demand: By the end of 2022, the market for stoma/ostomy care will be worth US$3.8 billion. The market is anticipated to grow at a CAGR of 4.9% from 2023 to 2033 and is projected to reach a market value of approximately US$ 6.5 billion in that year.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights, Inc.

Christiana Corporate, 200 Continental Drive,

Suite 401, Newark, Delaware – 19713, USA

T: +1-845-579-5705

LinkedInTwitterBlogs | YouTube

For Sales Enquiries: [email protected]

Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post