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Global Clinical Trial Services Market

Clinical Trial Services Market Size, Share & Trends Analysis Report By Service (Clinical Trial Site Management, Patient Recruitment Management, (Patient recruitment & registry services, Patient retention, Others), Data Management, Administrative staff, IRB, Others), By Phase, (Phase I, Phase II, Phase III, Phase IV), By Sponsor, By Region, Forecasts, 2024-2031

Report ID : 1071 | Published : 2024-08-14 | Pages: 180 | Format: PDF/EXCEL

The Global Clinical Trial Services Market size is valued at USD 22.58 billion in 2023 and is predicted to reach USD 42.86 billion by the year 2031 at an 8.44% CAGR during the forecast period for 2024-2031.

clinical trial services

The services used by biopharmaceutical or pharmaceutical companies to conduct clinical trial either for the approval of a new drug or biologic or for the entry of new generic or biosimilar to the market is known as clinical trial services. Increased research and development expenditure and entry of biosimilars to the market has boosted the growth of the clinical trial services market. Major companies have increased research and development expenditure to bring new molecules to the market in order to beat the market competition and to sustain the market position. A significant part of the research and development expenditure of pharmaceutical and biopharmaceutical companies goes on clinical trials, thus growing demand for new drug development and increase in a number of contract research organizations have boosted the growth of the global clinical trial services market. However, the stringent regulatory framework hampers the growth of the global clinical trials services market in the forecast period. Additionally, the lack of skilled professionals to conduct clinical trials also restrains the development of the global clinical trial services market.

Competitive Landscape

Some of The Key Players in The Clinical Trial Services Market:

  • Charles River Laboratories International, Inc.
  • Wuxi Apptec, Inc
  • Iqvia Holdings, Inc
  • Syneos Health, Inc.
  • Eurofins Scientific
  • Ppd, Inc. (Pharmaceutical Product Development)
  • Icon Plc
  • Laboratory Corporation of America Holdings (Labcorp)
  • Alcura
  • Parexel International Corporation
  • Covance, Inc
  • Accovion GmbH
  • Chiltern International Limited
  • inVentiv International Pharma Services
  • Pharmnet
  • Quotient Bioresearch
  • Other Prominent Players

Market Segmentation

The Clinical Trial Services Market is segmented by service, by phase, by sponsor Outlook. Based on By Service Outlook, the market is segmented into clinical trial site management, patient recruitment management, (patient recruitment & registry services, patient retention, others), data management, administrative staff, IRB, others.  By Phase the market is segmented into Phase I, Phase II, Phase III and Phase IV. By Sponsor, the market segmented into pharmaceutical & biopharmaceutical, medical devices, others.

The Clinical Trial Services Market Report Scope

Report Attribute

Specifications

Market size value in 2023

USD 22.58 Bn

Revenue Forecast in 2031

USD 42.86 Bn

Growth Rate CAGR

CAGR of 8.0 % from 2024 to 2031

Quantitative Units

Representation of revenue in US$ Million and CAGR from 2024 to 2031

Historic Year

2019 to 2023

Forecast Year

2024-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

By Service, By Phase, By Sponsor

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South Korea; South East Asia

Competitive Landscape

Covance, Inc., Charles River Laboratories, Acura Health, Parexel International, Accovion GmbH, ICON PLC, Chiltern International Limited, inVentiv International Pharma Services, Pharmaceutical Product Development LLC, Pharmnet, IQVIA, Quotient Bioresearch, WuXi PharmaTech, and others

Customization Scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing and Available Payment Methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope

1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Clinical Trial Services Market Snapshot

Chapter 4. Global Clinical Trial Services Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: By Service Outlook Estimates & Trend Analysis
5.1. By Service Outlook & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following By Service Outlook:

5.2.1. Clinical Trial Site Management
5.2.2. Patient Recruitment Management

5.2.2.1. Patient recruitment & registry services
5.2.2.2. Patient retention
5.2.2.3. Others

5.2.6. Data Management
5.2.7. Administrative staff
5.2.8. IRB
5.2.9. Others

Chapter 6. Market Segmentation 2: By Phase Estimates & Trend Analysis
6.1. By Phase & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following By Phase:

6.2.1. Phase I
6.2.2. Phase II
6.2.3. Phase III
6.2.4. Phase IV

Chapter 7. Market Segmentation 3: By Sponsor Estimates & Trend Analysis
7.1. By Sponsor & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following By Sponsor:

7.2.1. Pharmaceutical & Biopharmaceutical
7.2.2. Medical Devices
7.2.3. Others

Chapter 8. Clinical Trial Services Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America
8.1.1. North America Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Service Outlook, 2024- 2031
8.1.2. North America Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Phase, 2024- 2031
8.1.3. North America Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Sponsor, 2024- 2031
8.1.4. North America Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by country, 2024- 2031

8.2. Europe
8.2.1. Europe Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Service Outlook, 2024- 2031
8.2.2. Europe Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Phase, 2024- 2031
8.2.3. Europe Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Sponsor, 2024- 2031
8.2.4. Europe Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by country, 2024- 2031

8.3. Asia Pacific
8.3.1. Asia Pacific Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Service Outlook, 2024- 2031
8.3.2. Asia Pacific Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Phase, 2024- 2031
8.3.3. Asia-Pacific Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Sponsor, 2024- 2031
8.3.4. Asia Pacific Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by country, 2024- 2031

8.4. Latin America
8.4.1. Latin America Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Service Outlook, 2024- 2031
8.4.2. Latin America Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Phase, 2024- 2031
8.4.3. Latin America Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Sponsor, 2024- 2031
8.4.4. Latin America Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by country, 2024- 2031

8.5. Middle East & Africa
8.5.1. Middle East & Africa Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Service Outlook, 2024- 2031
8.5.2. Middle East & Africa Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Phase, 2024- 2031
8.5.3. Middle East & Africa Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by Sponsor, 2024- 2031
8.5.4. Middle East & Africa Clinical Trial Services Market Revenue (US$ Million) Estimates and Forecasts by country, 2024- 2031

Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles

9.2.1. PharmaLex
9.2.2. Emergo UL
9.2.3. Cytel
9.2.4. Health Policy Associate
9.2.5. CD BioSciences
9.2.6. LLX Solutions
9.2.7. SGS
9.2.8. ADM Korea
9.2.9. ClinAsia
9.2.10. BioPoint
9.2.11. Covance, Inc
9.2.12. Charles River Laboratories
9.2.13. Alcura Health
9.2.14. Parexel International
9.2.15. Accovion GmbH
9.2.16. ICON PLC
9.2.17. Chiltern International Limited
9.2.18. inVentiv International Pharma Services
9.2.19. Pharmaceutical Product Development LLC
9.2.20. Pharmnet
9.2.21. IQVIA
9.2.22. Syneos Health
9.2.23. Quotient Bioresearch
9.2.24. WuXi PharmaTech
9.2.25. Other Prominent Players

Global Clinical Trial Services Market Segmentation

Clinical Trial Services Market- By Service 

  • Clinical Trial Site Management
  • Patient Recruitment Management
    • Patient recruitment & registry services
    • Patient retention
    • Others
  • Data Management
  • Administrative Staff
  • IRB
  • Others

clinical trail services

Clinical Trial Services Market- Distribution by Phase

  • Phase I
  • Phase II
  • Phase III
  • Phase IV

Clinical Trial Services Market- By Sponsor

  • Pharmaceutical & Biopharmaceutical
  • Medical Devices
  • Others

Global Clinical Trial Services Market Outlook (Revenue, US$ Mn, 2019 – 2030) By Region

  • Europe
  • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • North America
    • U.S.
    • Canada
  • Asia Pacific
    • India
    • China
    • Japan
    • South Korea
    • Australia & New Zealand
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

What is the Clinical Trial Services Market Growth?

Covance, Inc., Charles River Laboratories, Acura Health, Parexel International, Accovion GmbH, ICON PLC, Chiltern International Limited, inVentiv Inte

The Global Clinical Trial Services Market size is valued at USD 22.58 billion in 2023 and is predicted to reach USD 42.86 billion by the year 2031

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