Clinical trials are research studies that involve people. They are the key part of developing new medicines. During clinical trials, treatments are tested to find out if they work, what kind of side effects they cause, and if they are better than existing treatments. Clinical trials are often a step in the very long process of bringing a new medicine to the public.
Clinical trials are used to test drugs, devices, and new ways of giving care like surgical techniques. They may also be used to compare current treatments and test techniques to prevent, detect, or treat disease.
The world’s clinical trials landscape has become increasingly globalized in the past decade, with countries such as India, China, and Brazil becoming important hubs of drug development activity. In recent years, more countries are taking advantage of potential cost savings related to conducting clinical trials outside of the United States or Europe. Approximately 75% of clinical trials conducted today are sponsored by industry and 25% are sponsored by academic institutions. Global investment in clinical trials by the pharmaceutical industry is estimated to reach $119 billion by 2024. As the demand for new treatments and therapies grows, clinical trials are a necessary component for the development of new medicines.
The global Clinical Trial market was valued at US$ 51130 million in 2022 and is anticipated to reach US$ 84800 million by 2029, witnessing a CAGR of 8.8% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global Clinical Trial Market available at: https://www.themarketreports.com/report/global-clinical-trial-market-research-report
This report aims to provide a comprehensive presentation of the global market for Clinical Trial, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Clinical Trial.
The major global companies of Clinical Trial include Fisher Clinical Services, Myoderm, Bilcare, CliniChain, Ancillare, MESM, ERG Holding, Apex Medical Research, Parexel, PRA Health, LabCorp (Covance), Marken, AmerisourceBergen (World Courier) etc. In 2021, the world’s top three vendors accounted for approximately % of the revenue.
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