The US clinical trials support services market is projected to grow from $8.76 Bn in 2022 to $13.24 Bn by 2030, registering a CAGR of 5.3% during the forecast period of 2022-30. The high burden of infectious and chronic diseases in emerging economies, pharmaceutical companies' high R&D spending, an increase in the number of contract research organizations, and the prevalence of diseases are the main drivers of the market's expansion. The major key players in the market are Charles River Labs, Covance, Syneos Health, etc.
The US clinical trials support services market is projected to grow from $8.76 Bn in 2022 to $13.24 Bn by 2030, registering a CAGR of 5.3% during the forecast period of 2022-30.
Nearly every industry was affected by the COVID-19 pandemic. It has a significant impact on the global market for clinical trial support services. The COVID-19 pandemic, for instance, had a significant impact on the market for clinical trials, as there was a growing emphasis on creating novel treatments or vaccines to treat the COVID-19 sickness, according to a study article that was published in The Lancet in February 2021. The article also mentioned that more clinical trials were conducted overall in the United States in 2020 compared to 2019. As a result, COVID-19 sparked the creation of novel medications and vaccines that had a profound effect on the market's expansion. Nonetheless, the need for clinical trial support services could keep rising during the projection period due to the advent of new infectious and chronic diseases.
The high burden of infectious and chronic diseases in emerging economies, pharmaceutical companies' high R&D spending, an increase in the number of contract research organizations, and the prevalence of diseases are the main drivers of the market's expansion. There is an unmet need for the development of novel pharmaceuticals for therapy, which necessitates carrying out clinical trials, due to the increased frequency of chronic, infectious, and tropical diseases in developing nations. Hence, more clinical studies for novel medication compounds are anticipated to fuel the market's expansion. In these areas, the prevalence of obesity, hyperlipidemia, and insulin resistance is also rising quickly, which could encourage the development of new drugs and therapeutic methods.
To handle enormous volumes of data, numerous businesses are creating clinical data management tools and systems. For instance, Clinical Solutions introduced the Elluminate clinical trial management system in February 2021, which enables decision-making that is quicker and more informed. The demand for clinical trial support services is therefore projected to rise as a result of such advancements to handle the data and services for clinical trials, which will fuel the market's expansion.
The market is anticipated to experience significant growth over the forecast period as a result of the rising demand for clinical trials in emerging markets brought on by the high burden of chronic and infectious diseases, high R&D spending by pharmaceutical companies, an increase in the number of contract research organizations, and the prevalence of diseases. However, the lack of an effective legal framework for carrying out clinical studies and strict requirements for patient enrolment in some countries may impede the expansion of the market under consideration.
The market for clinical trial support services in the US is a sector that is rapidly changing due to ongoing improvements in technology, laws, and patient interaction. Key market developments include the following:
Overall, these changes are anticipated to fuel ongoing innovation and expansion in the US clinical trials support services market as businesses look to more effectively and efficiently create new drugs and cures to combat the rising burden of chronic disease.
With several businesses providing a wide range of services to support the clinical trial process, the US market for clinical trial support services is quite competitive. The following are some of the major market participants:
As they endeavor to create new technologies and procedures to shorten the clinical trial process and more quickly bring new treatments and therapies to market, these key companies and others are anticipated to continue driving innovation and growth in the US clinical trials support services market.
1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Clinical Trials Regulation in Country
1.6 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
188.8.131.52 Product Applications and Services
184.108.40.206 Recent Developments
220.127.116.11 Partnerships Ecosystem
18.104.22.168 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
6. Methodology and Scope
By Service Outlook (Revenue, USD Billion):
By Phase (Revenue, USD Billion):
By Sponsor (Revenue, USD Billion):
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The US Clinical Trials Support Services Market is projected to grow from $8.76 Bn in 2022 to $13.24 Bn by 2030, registering a CAGR of 5.3% during the forecast period of 2022 - 2030.
The US clinical trials support services market is highly competitive, with many companies offering a wide range of services to support the clinical trial process. Some of the key players in the market include:
Charles River Laboratories
Overall, these key players and others are expected to continue driving innovation and growth in the US clinical trials support services market, as they work to develop new technologies and processes to streamline the clinical trial process and bring new treatments and therapies to market more efficiently.
This report addresses