The global clinical trials market size was valued at USD 80.7 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.49% from 2024 to 2030.  

The market growth spiked in 2020 owing to the COVID-19 pandemic. This growth pattern was witnessed by both virtual clinical trials and traditional ones. Several companies invested heavily in novel drug development to minimize COVID-19 patient burden. One such example being, in 2020, Synairgen plc and Parexel collaborated on a Phase III study of Interferon-beta (IFN-beta) treatment for COVID-19. Furthermore, rapid technological evolution, rising prevalence of chronic diseases, globalization of clinical trials, penetration of personalized medicine and a rise in demand for CROs for conducting research activities is expected to positively impact the market growth.

In addition, the COVID-19 pandemic led to changing the ways of conducting upcoming or ongoing clinical trials. Regulatory agencies including the U.S. FDA, the European Medicines Agency (EMA), the National Institutes of Health (NIH), and China’s National Medical Products Administration among several others issued various guidelines for conducting trials during the pandemic to support the implementation of decentralized clinical trials and virtual services. The current scenario for research and development activities across the globe and the need for several new treatment options have also led to the adoption of fast-track clinical trials. Thus, aforementioned factors are estimated to offer new avenues to the clinical trials market growth.

Gather more insights about the market drivers, restrains and growth of the Clinical Trials Market

Clinical Trials Market Report Highlights

• The phase III clinical trials segment dominated the market with a 53.3% share in 2023. This can be attributed to the complexity of this phase

• The interventional studies segment dominated the market in 2023. It is one of the most prominent methods used in clinical trials in the study design segment owing to the increasing demand for the intervention for clinical trials by researchers

• North America held 50.3% of the market share in 2023. Favorable government initiatives and the presence of a large number of players in the U.S. that offer advanced services are responsible for market growth

• Asia Pacific region is anticipated to grow at the fastest CAGR over the forecast period owing to the increasing patient pool and cost-efficient services.

Browse through Grand View Research's Healthcare IT Industry Research Reports.

• The global healthcare predictive analytics market size was estimated at USD 14.58 billion in 2023 and is projected to grow at a CAGR of 24.0% from 2024 to 2030.

• The global medical animation market size was valued at USD 396.2 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 20.1% from 2024 to 2030.

Clinical Trials Market Segmentation

Grand View Research has segmented the global clinical trials market based on phase, study design, indication, sponsor, indication by study design, and region:

Clinical Trials Phase Outlook (Revenue, USD Billion, 2018 - 2030)

• Phase I

• Phase II

• Phase III

• Phase IV

Clinical Trials Study Design Outlook (Revenue, USD Billion, 2018 - 2030)

• Interventional

• Observational

• Expanded Access

Clinical Trials Indication by Study Design Outlook (Revenue, USD Billion, 2018 - 2030)

• Autoimmune/Inflammation

o Rheumatoid Arthritis

o Multiple Sclerosis

o Osteoarthritis

o Irritable Bowel Syndrome (IBS)

o Others

• Pain Management

o Chronic Pain

o Acute Pain

• Oncology

o Blood Cancer

o Solid Tumors

o Other

• CNS Condition

o Epilepsy

o Parkinson's Disease (PD)

o Huntington's Disease

o Stroke

o Traumatic Brain Injury (TBI)

o Amyotrophic Lateral Sclerosis (ALS)

o Muscle Regeneration

o Others

• Diabetes

• Obesity

• Cardiovascular

• Others

Clinical Trials Indication Outlook (Revenue, USD Billion, 2018 - 2030)

• Autoimmune/Inflammation

o Interventional

o Observational

o Expanded Access

• Pain Management

o Interventional

o Observational

o Expanded Access

• Oncology

o Interventional

o Observational

o Expanded Access

• CNS Condition

o Interventional

o Observational

o Expanded Access

• Diabetes

o Interventional

o Observational

o Expanded Access

• Obesity

o Interventional

o Observational

o Expanded Access

• Cardiovascular

o Interventional

o Observational

o Expanded Access

• Others

o Interventional

o Observational

o Expanded Access

Clinical Trials Sponsor Outlook (Revenue, USD Billion, 2018 - 2030)

• Pharmaceutical & Biopharmaceutical Companies

• Medical Device Companies

• Others

Clinical Trials Service Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Protocol Designing

• Site Identification

• Patient Recruitment

• Laboratory Services

• Bioanalytical Testing Services

• Clinical Trial Data Management Services

• Others

Clinical Trials Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

o U.S.

o Canada

• Europe

o U.K.

o Germany

o France

o Spain

o Italy

• Asia Pacific

o India

o Japan

o China

o Australia

o South Korea

• Latin America

o Brazil

o Mexico

o Argentina

o Colombia

• Middle East & Africa

o South Africa

o Saudi Arabia

o UAE

Order a free sample PDF of the Clinical Trials Market Intelligence Study, published by Grand View Research.