MARKET OVERVIEW
Clinical trial support services are essential for pharmaceutical companies during the trial process of new drugs or molecular analysis of generics and biosimilars. They are crucial in the development of drugs, assay design, and clinical testing. These services are highly beneficial for the successful introduction of drugs in the market. Clinical trial support services, which include clinical site assistance, obtaining and storing study drugs, blinding study drugs, patient recruitment, coordination, and reconciliation of returned medicinal products, are provided for preclinical studies and research.
The “Global Clinical Trials Support Services Market Analysis to 2028” is a specialized and in-depth study of the medical devices industry with a special focus on global market trend analysis. The report aims to provide an overview of the clinical trials support services market with detailed market segmentation by service, phase, sponsor, and geography. The report provides key statistics on the market status of the leading clinical trials support services market players and offers key trends and opportunities in the market.
MARKET DRIVERS
Factors driving the clinical trials support services market growth are rising R&D expenditure by pharmaceutical and biopharmaceutical enterprises, increasing prevalence of chronic disease & disease outbreaks, and the need for clinical trials in emerging markets. However, the regulatory requirements for patient enrollment and the availability of open-source and freeware software.
The increasing prevalence of chronic disease & disease outbreaks is boosting market growth. Increased problems associated with health are caused by changes in the environment and people's lifestyles. A range of chronic diseases and conditions affect the elderly population. Alzheimer's and other dementias, arthritis, cancer, diabetes, heart disease, obesity, osteoporosis, tobacco-related disorders, irritable bowel syndrome, and other issues have become more prevalent and visible in the general population. In 1918, a Spanish flu outbreak broke out worldwide for two years. COVID-19 began its journey around the world in 2020 and continues to evolve. The monkeypox virus has been the cause of outbreaks within Europe and North America since 2022. For example, a survey conducted by the Arthritis Community Research and Evaluation Unit ACREU in Canada has found that approximately 15 % of Canadians older than 20 years suffer from osteoarthritis. The report pointed out that over 4 million people in Canada have osteoarthritis, or about 1 in 7 adults. Thus, the increasing prevalence of chronic disease & disease outbreaks is fueling the clinical trials support services market growth.
GLOBAL SEGMENTAL ANALYSIS
The global clinical trials support services market is segmented into service, phase, and sponsor. Service segment subsegmented into clinical trial site management, patient recruitment management, data management, administrative staff, IRB, and others. Further, patient recruitment management is segmented into patient recruitment & registry services, patient retention, and others. Based on phase, the market is segmented into phase I, phase II, phase III, and phase IV. Based on the sponsor, the market is segmented into pharmaceutical & biopharmaceutical, medical devices, and others.
Based on phase, the phase III segment dominated the clinical trials support services market share. The failure rate in this phase is highest due to a small sample size, and the study design typically requires complex dosing at an optimal dose. Failure leads to human and financial losses, and a high proportion of failures are caused by failure to meet safety or efficacy standards. The increasing cost and number of subjects involved in Phase III trials are the main reasons for this segment's growth. As this phase is characterized by a low sample size and the study design tends to require complex dosing at optimal values, failure rates are highest. Failures lead to human and financial losses, most caused by a lack of compliance with safety and efficacy standards. Thus, the phase III segment drives the growth of the clinical trials support services market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides clinical trials support services market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & central America. The clinical trials support services market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & central America after evaluating political, economic, social and technological factors affecting the Clinical Trials Support Services market in these regions.
North America accounted for maximum share of the global clinical trials support services market share in 2022. Most pharmaceutical companies in the United States operate large business volumes within this region. Given the large number of clinical studies conducted in that area, this market will likely grow. Substantial investments in research and development and government support for clinical trials also support the market's growth. Market growth in North America has been supported by large contract research organizations that offer support services to clinical trials and international pharmaceutical & biotechnology companies investing heavily in these types of studies.
MARKET PLAYERS
The report covers key developments in the clinical trials support services market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market payers from the Clinical Trials Support Services market are anticipated to have lucrative growth opportunities in the future with the rising demand for Clinical Trials Support Services in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Clinical Trials Support Services Market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- CHARLES RIVER LABORATORIES INTERNATIONAL INC
- ICON PLC
- PAREXEL INTERNATIONAL CORPORATION
- NOVO NORDISK AS
- IQVIA HOLDINGS INC.
- WUXI APPTEC
- THERMO FISHER SCIENTIFIC
- ALMAC
- UDG HEALTHCARE PLC.
- SEVEILLAR CLINICAL SUPPLIES SERVICES PVT LTD
Recent Developments
- In Jan 2022, Charles River Laboratories International Inc. has expanded its joint venture with SAMDI Tech Inc to deal with throughput and sample preparation limitations associated with traditional mass spectrometry screening methods through a combination of selfassembling monolayers and MALDI MS.
- In Mar 2023, Novo Nordisk today announced headline results from the PIONEER PLUS trial, a phase 3b, 68-week, efficacy, and safety trial with once-daily oral semaglutide 25 mg and 50 mg versus 14 mg as an add-on to a stable dose of 1–3 oral antidiabetic medicines in people with type 2 diabetes in need of treatment intensification. With either the 25 mg or 50 mg doses of semaglutide, this study achieved its main endpoint by showing that HbA1c was significantly reduced at 52 weeks compared to 14 mg orally administered Semaglutide.
- In April 2019, WuXi AppTec acquired a clinical research services firm, Pharmapace, Inc., to extend its Biometrics offering in Clinical Research with data management, Statistical Programming, Data Integration, Biostatistical, and Medical Writing.
The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.