Austin, TX, USA, Jan. 15, 2025 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Clinical Trial Outsourcing Market Size, Trends and Insights By Services (Protocol Designing, Site Identification, Patient Recruitment, Laboratory Services, Bioanalytical Testing Services, Clinical Trial Data Management Services, Others), By Phase (Phase I, Phase II, Phase III, Phase IV), By Study Design (Interventional, Observational, Expanded Access), By Applications (Cancer, Cardiovascular Diseases, Nervous System Diseases, Infectious Diseases, Musculoskeletal Disease, Gastroenterology Diseases, Others), By End-User (Pharmaceutical & Biopharmaceutical Companies, Medical Device Companies, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033“ in its research database.
“According to the latest research study, the demand of global Clinical Trial Outsourcing Market size & share was valued at approximately USD 41,890 Million in 2023 and is expected to reach USD 43,102.4 Million in 2024 and is expected to reach a value of around USD 91,210.1 Million by 2033, at a compound annual growth rate (CAGR) of about 7.46% during the forecast period 2024 to 2033.”
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Clinical Trial Outsourcing Market: Overview
Clinical trial outsourcing is increasing worldwide due to the growing number of clinical trials. It is a very cost-effective method for conducting clinical trials. Clinical research organisations can provide a range of services, from key capabilities to product approval and commercial launches.
Various factors, such as accelerated adoption of clinical trial outsourcing, increasing investment in drugs in the pipeline, growing investment in pharmaceutical drug innovations, rapidly expanding pharmaceutical industry in emerging economies, and increasing prevalence of chronic diseases creating burgeoning demands for new drugs, are expected to drive the clinical trial outsourcing market during the forecast period.
However, the lack of coordination between clinical trial outsourcing companies, the shortage of skilled expertise in clinical trial organisations, the growing cost of clinical trial organisations, and lengthy drug approval processes are restraining the market’s growth.
Key players operating in the market are integrating various emerging technologies, such as artificial intelligence, blockchain, machine learning, predictive analytics, advanced drug testing kits, etc., in their clinical trials to foster the speed and accuracy of clinical trials.
Machine learning-based software is integrated into many clinical trials to analyse the vast clinical requirements and patterns. Artificial intelligence-based technologies are helping to foster speed and accuracy in clinical trials, thereby boosting the drug approval processes and creating lucrative market opportunities during the forecast period.
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Growing collaborations between key players involved in the clinical trial outsourcing market and biopharmaceutical companies to develop advanced and customised clinical trial technologies and equipment are expected to create lucrative market opportunities during the forecast period. For instance, many biopharmaceutical companies are collaborating with many clinical trial organisations to conduct clinical trials on a mass scale.
The global Clinical Trial Outsourcing market is segmented by services, phase, study design, application, and end users. By Services, the Laboratory Services segment dominated the global clinical trial outsourcing market and is expected to remain dominant during the forecast period. Laboratory services are the most crucial step in drug development and drug approvals.
By region, North America dominated the global Clinical Trial Outsourcing market and is expected to keep its dominance during the forecast period owing to the increasing number of clinical trials in this region coupled with growing investment in research and development activities in pharmaceutical drug development.
Various factors, such as a well-established pharmaceutical industry, increasing emphasis on new drug development due to the growing prevalence of various chronic diseases, and increasing supportive policies, are mainly driving the market growth of this region during the forecast period. Key countries, such as the U.S., Canada, and Mexico, are expected to drive the market growth of this region during the forecast period.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 43,102.4 Million |
| Projected Market Size in 2033 | USD 91,210.1 Million |
| Market Size in 2023 | USD 41,890 Million |
| CAGR Growth Rate | 7.46% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Services, Phase, Study Design, Applications, End-User and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your research requirements. |
(A free sample of the Clinical Trial Outsourcing report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request.
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
- Includes Tables and figures have been updated.
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Clinical Trial Outsourcing report has been modified to include the COVID-19 impact study prior to delivery.)
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CMI has comprehensively analyzed the Clinical Trial Outsourcing market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth market scenario. Segment-wise market size and market share during the forecast period have been duly addressed to portray the probable picture of this Global Clinical Trial Outsourcing industry.
The competitive landscape includes key innovators, after-market service providers, market giants, and niche players, who are studied and analyzed extensively with respect to their strengths, weaknesses, and value-adding prospects. In addition, this report covers key players’ profiles, market shares, mergers and acquisitions, consequent market fragmentation, and new trends and dynamics in partnerships.
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Key questions answered in this report:
- What is the size of the Clinical Trial Outsourcing market and what is its expected growth rate?
- What are the primary driving factors that push the Clinical Trial Outsourcing market forward?
- What are the Clinical Trial Outsourcing Industry’s top companies?
- What are the different categories that the Clinical Trial Outsourcing Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Clinical Trial Outsourcing market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2024−2033
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Clinical Trial Outsourcing Market: Regional Insight
The global Clinical Trial Outsourcing market is segmented by region into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. Of these, the North American region held the highest market share in 2023 and is expected to keep its dominance during the forecast period owing to increasing investment in drug development centres and the growing number of clinical trial organisations in the region.
Various factors, such as the presence of a well-established pharmaceutical industry, increasing investment in new drug development, rise in the adaptation of advanced technologies for drug development, and presence of leading clinical trial organisations, are some of the factors boosting the market growth of this region.
Key countries such as the U.S., Canada, and Mexico are mainly boosting the market growth of this region. For instance, according to the data published by the National Library of Medicine, in 2023, more than 20,000 clinical trials were conducted in the U.S., and this number is expected to increase rapidly due to increasing global clinical trial activities in the U.S.
The U.S. dominated the North American clinical trial outsourcing market due to supportive government policies and growing emphasis by private and government organisations on new drug development.
Asia Pacific is expected to grow at the fastest CAGR during the forecast period. Key countries such as China, India, Japan, ASEAN, South Korea and Australia are mainly driving the market growth of this region.
Various factors, such as the rapidly expanding pharmaceutical industry, the growing number of drug discovery trials, increasing investment in new drug discovery, increasing awareness about healthcare, and an increasing population coupled with growing disposable incomes, are mainly boosting the demand for new drugs and discoveries, thereby creating market opportunities for clinical trial outsourcing in this region.
China dominated the Asia Pacific Clinical Trial Outsourcing market and is expected to maintain its dominance during the forecast period owing to supportive government policies regarding clinical trial outsourcing research.
Furthermore, the increasing geriatric population, the increasing prevalence of chronic diseases, and the well-established pharmaceutical industry, coupled with the availability of well-established healthcare and pharmaceutical industries in the country, are some of the factors mainly driving the market growth of this region.
India is expected to grow at the fastest CAGR during the forecast period owing to the growing number of clinical trials in the country. In 2023, there were 74,547 clinical trials registered and ongoing in India, and this number is expected to increase in upcoming years due to increasing investment in drug discoveries.
Furthermore, various supportive policies, such as Ayushman Bharat, provide universal healthcare coverage to all Indian citizens, thereby boosting the demand for new drugs. This, in turn, encourages clinical trial outsourcing, thereby boosting market growth.
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Browse the full “Clinical Trial Outsourcing Market Size, Trends and Insights By Services (Protocol Designing, Site Identification, Patient Recruitment, Laboratory Services, Bioanalytical Testing Services, Clinical Trial Data Management Services, Others), By Phase (Phase I, Phase II, Phase III, Phase IV), By Study Design (Interventional, Observational, Expanded Access), By Applications (Cancer, Cardiovascular Diseases, Nervous System Diseases, Infectious Diseases, Musculoskeletal Disease, Gastroenterology Diseases, Others), By End-User (Pharmaceutical & Biopharmaceutical Companies, Medical Device Companies, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033“ Report at https://www.custommarketinsights.com/report/clinical-trial-outsourcing-market/
List of the prominent players in the Clinical Trial Outsourcing Market:
- Albany Molecular Research
- EVOTEC
- Laboratory Corporation of America Holdings
- Genscript
- ICON plc
- IQVIA
- Thermo Fisher Scientific Inc.
- SGS Life Sciences
- Charles River Laboratories
- Parexel
- Syneos Health
- Medpace
- LabCorp
- KCR
- PRA Health Sciences
- WuXi AppTec
- Pharmaron
- Avance Clinical
- Pharmaron
- Others
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The Clinical Trial Outsourcing Market is segmented as follows:
By Services
- Protocol Designing
- Site Identification
- Patient Recruitment
- Laboratory Services
- Bioanalytical Testing Services
- Clinical Trial Data Management Services
- Others
By Phase
- Phase I
- Phase II
- Phase III
- Phase IV
By Study Design
- Interventional
- Observational
- Expanded Access
By Applications
- Cancer
- Cardiovascular Diseases
- Nervous System Diseases
- Infectious Diseases
- Musculoskeletal Disease
- Gastroenterology Diseases
- Others
By End-User
- Pharmaceutical & Biopharmaceutical Companies
- Medical Device Companies
- Others
Click Here to Get a Free Sample Report of the Global Clinical Trial Outsourcing Market @ https://www.custommarketinsights.com/report/clinical-trial-outsourcing-market/
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
This Clinical Trial Outsourcing Market Research/Analysis Report Contains Answers to the following Questions.
- Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Clinical Trial Outsourcing Market? What are Their Company Profile, Product Information, and Contact Information?
- What Was the Global Market Status of the Clinical Trial Outsourcing Market? What Was the Capacity, Production Value, Cost and PROFIT of the Clinical Trial Outsourcing Market?
- What Is the Current Market Status of the Clinical Trial Outsourcing Industry? What’s Market Competition in This Industry, Both Company and Country Wise? What’s Market Analysis of Clinical Trial Outsourcing Market by Considering Applications and Types?
- What Are Projections of the Global Clinical Trial Outsourcing Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Clinical Trial Outsourcing Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is the Economic Impact On Clinical Trial Outsourcing Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Clinical Trial Outsourcing Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Clinical Trial Outsourcing Industry?
Click Here to Access a Free Sample Report of the Global Clinical Trial Outsourcing Market @ https://www.custommarketinsights.com/report/clinical-trial-outsourcing-market/
Reasons to Purchase Clinical Trial Outsourcing Market Report
- Clinical Trial Outsourcing Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- Clinical Trial Outsourcing Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Clinical Trial Outsourcing Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry’s current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Clinical Trial Outsourcing Market Includes in-depth market analysis from various perspectives through Porter’s five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the global Clinical Trial Outsourcing market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
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What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Clinical Trial Outsourcing market analysis.
- The competitive environment of current and potential participants in the Clinical Trial Outsourcing market is covered in the report, as well as those companies’ strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Clinical Trial Outsourcing market should find this report useful. The research will be useful to all market participants in the Clinical Trial Outsourcing industry.
- Managers in the Clinical Trial Outsourcing sector are interested in publishing up-to-date and projected data about the worldwide Clinical Trial Outsourcing market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Clinical Trial Outsourcing products’ market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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