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The clinical trial support services market share is expected to increase by USD 8.37 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.4%.
This clinical trial support services market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers clinical trial support services market segmentations by application (phase 2, phase 3, phase 1, and phase 4), age group (adults (greater than 18 years), adolescents (10 to 18 years), and children (less than 10 years)), and geography (Europe, North America, Asia, and Rest of World (ROW)). The clinical trial support services market report also offers information on several market vendors, including AH UK Holdco 1 Ltd., Almac Group Ltd., Brighter Health Network LLC, Catalent Inc., Charles River Laboratories International Inc., Clinipace Inc., Eli Lilly and Co., Eurofins Scientific SE, ICON plc, IQVIA Holdings Inc., Laboratory Corp. of America Holdings, MARKEN Ltd., Parexel International Corp., Pfizer Inc., PharmNet.Bund, Quotient Sciences Ltd., Seveillar Clinical Supplies Services Pvt. Ltd., Syneos Health Inc., Thermo Fisher Scientific Inc., and WuXi AppTec Co. Ltd. among others.
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The growth of the biopharmaceutical industry is notably driving the clinical trial support services market growth, although factors such as the high cost of clinical trials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the clinical trial support services industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Clinical Trial Support Services Market Driver
Key Clinical Trial Support Services Market Trend
Key Clinical Trial Support Services Market Challenge
This clinical trial support services market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global clinical trial support services market as a part of the global life science tools and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the clinical trial support services market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the clinical trial support services market encompasses successful business strategies deployed by the key vendors. The clinical trial support services market is fragmented and the vendors are deploying growth strategies such as price, quality, innovation, reputation, and distribution network to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The clinical trial support services market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the clinical trial support services market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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29% of the market’s growth will originate from Asia during the forecast period. Japan and China are the key markets for the clinical trial support services market in Asia. Market growth in this region will be faster than the growth of the market in other regions.
Another region offering significant growth opportunities for vendors is Europe. The pharmaceutical, biologics, and medical technology companies in Western European countries will facilitate the clinical trial support services market growth in Asia over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 had adversely impacted the regional market. However, the European Federation of Pharmaceutical Industries and Associations (EFPIA) member companies continued to work around the clock to increase the production scale and ensure the timely supply of critical medicines to patients across Europe. Such factors are expected to boost the market growth in the coming years.
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The clinical trial support services market share growth by the phase 2 segment will be significant during the forecast period. Another segment offering similar growth is phase 1. Participants in Phase I trials are healthy individuals. Thus, they receive no direct medical benefit, but they considerably improve the health of others. The amount of compensation for these volunteers depends on their time of commitment and the type of medicine or procedure being evaluated. Owing to these factors, the Phase 1 segment is expected to drive the growth of the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the clinical trial support services market size and actionable market insights on post COVID-19 impact on each segment.
Clinical Trial Support Services Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.4% |
Market growth 2022-2026 |
$ 8.37 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.36 |
Regional analysis |
Europe, North America, Asia, and Rest of World (ROW) |
Performing market contribution |
Asia at 29% |
Key consumer countries |
US, Germany, France, Japan, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AH UK Holdco 1 Ltd., Almac Group Ltd., Brighter Health Network LLC, Catalent Inc., Charles River Laboratories International Inc., Clinipace Inc., Eli Lilly and Co., Eurofins Scientific SE, ICON plc, IQVIA Holdings Inc., Laboratory Corp. of America Holdings, MARKEN Ltd., Parexel International Corp., Pfizer Inc., PharmNet.Bund, Quotient Sciences Ltd., Seveillar Clinical Supplies Services Pvt. Ltd., Syneos Health Inc., Thermo Fisher Scientific Inc., and WuXi AppTec Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by Age Group
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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