Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Clinical Trial Services Market to Exhibit Significant Growth at 6.11% CAGR, Garnering $72.54 Billion by 2030, with North America Leading the Industry as Demand for Innovative Therapies Rises, States Kings Research


News provided by

Kings Research

15 Dec, 2023, 15:01 GMT

Share this article

Share toX

Share this article

Share toX

DUBAI, UAE, Dec. 15, 2023 /PRNewswire/ -- According to a recent report by Kings Research, the global Clinical Trial Services Market valuation was recorded at USD 45.12 billion in 2022 and is expected to reach USD 72.54 billion by 2030, growing at a 6.11% CAGR between 2023 and 2030. The clinical trial services industry growth is primarily due to factors such as the increasing prevalence of chronic diseases, surging demand for innovative therapies, and notable advancements in medical technology. As the aging population continues to expand, and the prevalence of diseases, particularly cancer, diabetes, and cardiovascular conditions, increases, there is a rising need for clinical trial services to advance the development of new treatments and medications.

Clinical trial services play a critical role in evaluating the safety and effectiveness of new drugs, therapies, medical devices, and treatments, ensuring their suitability for widespread use. These trials are indispensable in various domains, including drug development, biotechnology research, medical device testing, rare disease studies, vaccine development, cancer research, and precision medicine. They serve as the means to rigorously assess the safety and efficacy of these medical interventions and are equally essential for biotechnology firms to validate novel biologics, gene therapies, and cell-based treatments.

Get a Sample PDF of the Report: https://www.kingsresearch.com/request-sample/clinical-trial-services-market-269 

Trending Now: Medable and Pluto Health Team Up to Revolutionize Clinical Trials

Medable and Pluto Health announced their alliance in October 2023 to revolutionize clinical trials. Medable, a company well-known for its cutting-edge digital clinical trial platform, partnered with Pluto Health, a top health coordination platform. To streamline and improve every step of the clinical trial process from recruiting to data analysis - this dynamic pair promises quicker, more precise outcomes. This alliance has the potential to propel global healthcare developments by expediting the development of novel treatments and therapies.

Competitive Landscape

Key players in the clinical trial services market are pursuing strategic approaches including partnerships, mergers & acquisitions, product innovation, and joint ventures to broaden their product portfolios and enhance their market standing in various regions.

For instance, in August 2023, Lotus Clinical Research and Trialogics formed a strategic partnership to provide clinical trial software services. The goal of this collaboration is to bolster the efficiency and effectiveness of clinical trials using Trialogics' software platform. This partnership was purposed to enable Lotus Clinical Research to optimize its operational processes and offer improved services to its clients.

Major participants profiled in the global clinical trial services market include:

  • Syneos Health, Inc.
  • Charles River Laboratories International, Inc.
  • Medpace Holdings, Inc.
  • Laboratory Corporation of America Holdings
  • Covance Inc.
  • WuXi AppTec Co., Ltd.
  • IQVIA Holdings Inc.
  • PAREXEL International Corporation
  • ICON plc
  • PPD, Inc.

Inquire Before Buying This Report: https://www.kingsresearch.com/enquiry/clinical-trial-services-market-269 

Demand For Robust Protocols in Clinical Trial Design to Bolster Clinical Trial Services Market Expansion

Based on service type, the clinical trial services market is bifurcated into clinical trial design, patient recruitment, data management and biostatistics, regulatory support and compliance, site management and monitoring, drug safety and pharmacovigilance, and other services.

The clinical trial design segment captured the largest market share, attributed to the growing intricacy of trials, the adoption of adaptive designs, and the demand for robust protocols. Precision medicine and personalized treatments necessitate tailored designs, making clinical trial design services indispensable for pharmaceutical companies aiming to streamline drug development pipelines and introduce innovative therapies.

Rising Investments in R&D Activities to Promote Clinical Trial Services Market Progress

In terms of end-user, the market is divided into academic and research institutions, biotechnology companies, pharmaceutical companies, medical device companies, contract research organizations (CROs), and others.

Pharmaceutical companies are dominating the clinical trial services market due to substantial R&D investments, innovative initiatives, and an increased focus on clinical trials. Pharmaceutical companies require comprehensive services encompassing trial design, patient recruitment, data management, and regulatory support. The diverse therapeutic drug pipeline fuels the demand for these services. These pharmaceutical firms often collaborate with CROs and other service providers to ensure the success of their trials. Their unwavering commitment to advancing medical science and enhancing patient outcomes catalyzes ongoing innovation.

Ask for Customization: https://www.kingsresearch.com/customization/clinical-trial-services-market-269 

Increasing Prevalence of Chronic Diseases to Spur Clinical Trial Services Market Growth

The increasing prevalence of chronic diseases, such as diabetes, cardiovascular conditions, cancer, and neurological disorders, is a driving factor for the development of the clinical trial services market. Pharmaceutical and biotechnology firms are making substantial investments in clinical research to address these health challenges, which is anticipated to boost clinical trial services industry growth.

Furthermore, the market progress is fueled by patient-centric trials, cutting-edge technologies, and the global expansion of clinical research. Moreover, the market is anticipated to experience a surge in cell and gene therapy trials driven by biotechnology advancements. The emphasis on rare diseases and orphan drugs will result in specialized and highly targeted clinical trial services. The market is evolving to meet the changing demands of the healthcare landscape, offering innovative solutions for research and development in the pharmaceutical and biotechnology sectors.

North America to Lead Clinical Trial Services Market Due to Well-Established Pharmaceutical Sector

North America led the global clinical trial services industry in 2022 due to factors such as the region's well-established pharmaceutical and biotechnology sectors, robust healthcare infrastructure, and substantial investments in clinical research. The United States, in particular, boasts a high concentration of pharmaceutical companies, along with renowned academic research institutions and a favorable regulatory environment. These factors collectively make North America an attractive hub for global pharmaceutical companies in search of expertise and resources for their clinical trials, thereby aiding regional market expansion.

Purchase This Comprehensive Research Report for Valuable Market Insights: https://www.kingsresearch.com/buy-now/269 

Presence of Pharmaceutical and Biotechnology Companies in APAC to Drive Market Proliferation

Asia-Pacific emerges as the fastest-growing for clinical trial services market, exhibiting the highest CAGR from 2023 to 2030. This regional growth is fueled by factors such as a diverse patient population, cost-effective services, regulatory enhancements, and evolving trends in healthcare research. Additionally, the attractiveness of cost-effective services, driven by lower labor and operational expenses, is drawing the interest of pharmaceutical and biotechnology companies. Regulatory agencies in Asia-Pacific are actively streamlining processes, reducing approval time and complexity. The increasing prominence of biotechnology, along with a focus on precision medicine and rare diseases, further contributes to the region's rapid growth.

For more information on the report, visit: https://www.kingsresearch.com/clinical-trial-services-market-269 

Key Points from TOC:

Chapter 1 Introduction of the Global Clinical Trial Services Market 
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions

Chapter 2 Executive Summary

Chapter 3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach

Chapter 4 Global Clinical Trial Services Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter's Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis

Chapter 5 Impact of Russia-Ukraine War

Chapter 6 Global Clinical Trial Services Market, By Service Type
Chapter 7 Global Clinical Trial Services Market, By Therapeutic Area
Chapter 8 Global Clinical Trial Services Market, By End-User
Chapter 9 Global Clinical Trial Services Market, By Geography
Chapter 10 North America 
Chapter 11 Europe 
Chapter 12 Asia Pacific 
Chapter 13 Middle East & Africa 
Chapter 14 Latin America

Chapter 15 Global Clinical Trial Services Market Competitive Landscape
15.1 Overview
15.2 Key Developments
15.3 Key Strategic Developments
15.4 Company Market Ranking
15.5 Regional Footprint
15.6 Industry Footprint

Chapter 16 Company Profiles
16.1 Syneos Health, Inc.
16.1.1 Key Facts
16.1.2 Financial Overview
16.1.3 Product Benchmarking
16.1.4 Recent Developments
16.1.5 Winning Imperatives
16.1.6 Current Focus & Strategies
16.1.7 Threat from competition
16.1.8 SWOT Analysis

16.2 Charles River Laboratories International, Inc.
16.2.1 Key Facts
16.2.2 Financial Overview
16.2.3 Product Benchmarking
16.2.4 Recent Developments
16.2.5 Winning Imperatives
16.2.6 Current Focus & Strategies
16.2.7 Threat from competition
16.2.8 SWOT Analysis

16.3 Medpace Holdings, Inc.
16.3.1 Key Facts
16.3.2 Financial Overview
16.3.3 Product Benchmarking
16.3.4 Recent Developments
16.3.5 Winning Imperatives
16.3.6 Current Focus & Strategies
16.3.7 Threat from competition
16.3.8 SWOT Analysis

16.4 Laboratory Corporation of America Holdings
16.4.1 Key Facts
16.4.2 Financial Overview
16.4.3 Product Benchmarking
16.4.4 Recent Developments
16.4.5 Winning Imperatives
16.4.6 Current Focus & Strategies
16.4.7 Threat from competition
16.4.8 SWOT Analysis

16.5 Covance Inc.
16.5.1 Key Facts
16.5.2 Financial Overview
16.5.3 Product Benchmarking
16.5.4 Recent Developments
16.5.5 Winning Imperatives
16.5.6 Current Focus & Strategies
16.5.7 Threat from competition
16.5.8 SWOT Analysis

Continued……….

Browse Complete TOC: https://www.kingsresearch.com/toc/clinical-trial-services-market-269

About Us:

Kings Research stands as a renowned global market research firm. With a collaborative approach, we work closely with industry leaders, conducting thorough assessments of trends and developments. Our primary objective is to provide decision-makers with tailored research reports that align with their unique business objectives. Through our comprehensive research studies, we strive to empower leaders to make informed decisions.

Our team comprises individuals with diverse backgrounds and a wealth of knowledge in various industries. At Kings Research, we offer a comprehensive range of services aimed at assisting you in formulating efficient strategies to achieve your desired outcomes. Our objective is to significantly enhance your long-term progress through these tailored solutions.

Contact Us
Kings Research
Phone: (+1) 888 328 2189
E-mail: business@kingsresearch.com
Website: https://www.kingsresearch.com
Blog: https://www.kingsresearch.com/blog
Follow Us: LinkedIn | Facebook | Twitter

Our Media Properties: Data Demand, AITech365, Martech360, DailyUpdate360

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.