This research study involved the extensive use of secondary sources, directories, and databases to identify and collect valuable information for the analysis of the global clinical trial services market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information and assess the growth prospects of the market. The global market size estimated through secondary research was then triangulated with inputs from primary research to arrive at the final market size.
Secondary Research
The market for the companies offering clinical trial services is arrived at by secondary data available through paid and unpaid sources, analyzing the service portfolios of the major companies in the ecosystem, and rating the companies by their performance and quality. Various sources were referred to in the secondary research process to identify and collect information for this study. The secondary sources include annual reports, press releases, investor presentations of companies, white papers, journals, certified publications, and articles from recognized authors, directories, and databases. The secondary research was used to obtain critical information on the industry’s value chain, the total pool of key players, market classification, and segmentation from the market and technology-oriented perspectives. Secondary data was analyzed to arrive at the overall size of the global clinical trial services market, which was validated through primary research.
Primary Research
Extensive primary research was conducted after acquiring basic knowledge about the global clinical trial services market scenario through secondary research. Several primary interviews were conducted with market experts from the demand side, such as pharmaceutical and medical device companies, and experts from the supply side, such as C-level and D-level executives, and trial managers. These interviews were conducted across major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World (including Latin America, the Middle East, and Africa). This primary data was collected through questionnaires, e-mails, online surveys, personal interviews, and telephonic interviews.
In the complete market engineering process, the top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform the market estimation and market forecasting for the overall market segments and subsegments listed in this report. Extensive qualitative and quantitative analysis was performed on the complete market engineering process to list the key information/insights throughout the report.
The following is a breakdown of the primary respondents:
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The global size of the clinical trial services market was estimated and validated through multiple approaches such as the top-down and bottom-up approaches. These methods were also used extensively to estimate the size of various subsegments in the markets.
The research methodology used to estimate the market size includes the following:
The key players in the clinical trial services market were been identified through extensive primary and secondary research.
The revenues generated from the clinical trial services businesses of leading players were determined through primary and secondary research.
All percentage shares, splits, and breakdowns for respective market segments were determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the market size from the market size estimation process explained above, the total market was divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable.
Market Definition
Clinical trials are research studies that evaluate the safety, efficacy, and therapeutic benefits of new drugs, biologics, and medical devices in humans. The clinical trial services market refers to contracting third-party service providers, such as Contract Research Organizations (CROs), by pharmaceutical, biotechnology, and medical device companies to manage and conduct clinical trials between phase I to phase IV. This market includes various services such as patient recruitment, site management, data monitoring, regulatory compliance, and statistical analysis, among others supporting the development of various drug modalities such as small molecules, biologics, and medical devices across therapeutic areas like oncology, neurology, and respiratory disorders, among others. The market also includes different service delivery models to meet the sponsor’s needs, such as Full-Service Outsourcing (FSO), Functional Service Provision (FSP), and hybrid models.
Stakeholders
-
Contract Research Organizations (CROs)/Clinical Trial Service Providers
-
Pharmaceutical and Biopharmaceutical Companies
-
Medical Device Manufacturing Companies
-
Academic and Research Institutes
-
Venture Capitalists and Investors
-
Market Research and Consulting Firms
-
Government Associations
-
Medical Institutions and Universities
Report Objectives
-
To define, describe, and forecast the clinical trial services market based on phase, service type, therapy area, modality, delivery model, study design, end users/sponsor, and region
-
To provide detailed information regarding the major factors influencing the market growth, such as drivers, restraints, opportunities, and challenges
-
To strategically analyze the micromarkets with respect to individual growth trends, future prospects, and contributions to the overall precision medicine market
-
To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
-
To analyze subsegments of the market with respect to individual growth trends, prospects, and contributions to the overall market
-
To forecast the revenue of the market segments with respect to six main regions, namely, North America (US and Canada), Europe (Germany, UK, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America, the Middle East (GCC and Rest of Middle East) and Africa.
-
To profile the key market players and comprehensively analyze their market shares and core competencies2
-
To track and analyze competitive developments such as service launches, agreements, partnerships, acquisitions, business expansions, and research & development activities in the clinical trial services market.
HIGHEST CAGR MARKET IN 2025-2030
US FASTEST GROWING MARKET IN THE REGION
Olivia
Mar, 2022
Which segment, Based on the therapy area, accounted for the major share of the global Clinical Trials Market?.
Adam
Mar, 2022
Can you share the detailed report on the geographical analysis of the global Clinical Trials Market?.
Henry
Mar, 2022
Which of the global leaders holds the largest share of the global Clinical Trials Market?.