PUBLISHER: Inkwood Research | PRODUCT CODE: 1121483
PUBLISHER: Inkwood Research | PRODUCT CODE: 1121483
The global clinical trials support services market is estimated to boost with a 7.65% CAGR during the assessment period, 2022-2030. The market growth is driven by the rising prevalence of chronic disease & virus outbreaks and various benefits of clinical trial support services.
Clinical trials are controlled studies on humans to ensure the efficacy of drugs, food, and other product. These clinical trials are designed to satisfy the requirements of an agency related to product approvals and other human studies used in developing a product. Experiments and tests are performed on people and animals, and later the researchers or the investigators examine the outcomes
Further, support services make the clinical trial process easier. There are various key drivers for the growth of the studied market: the rise in the number of diseases and overcoming the challenges in clinical trials. The rising health problems and diseases have increased the clinical trials of new vaccines for new viruses and new and efficient drugs for the existing problems.
The global clinical trials support services market growth evaluation includes a thorough analysis of Europe, North America, Asia-Pacific, and Rest of World. North America is expected to capture around 38.27% market share by 2030 due to the presence of numerous leading industry players and advanced clinical studies in the region.
The competition is very high among the companies since the global clinical trials support services market is consolidated. Also, there are entry barriers for new entrants because of the presence of influential market leaders.
Some of the key market players include: ICON PLC, IQVIA, Parexel, PSI CRO, KCR, etc.