Global Clinical Trials Market Report and Forecast 2025-2034

The market is experiencing significant growth, driven by increasing pharmaceutical R&D investments and a growing pipeline of drug candidates. The rising complexity of clinical research has led to outsourcing R&D functions to Contract Research Organizations (CROs), which offer advanced infrastructure and specialised testing services. The demand for biologics and biosimilars is accelerating market expansion, as these therapies require complex clinical evaluations. Additionally, the market benefits from a rising pool of skilled professionals and the adoption of innovation through strategic partnerships aimed at enhancing clinical trial efficiency. These collaborations with technological advancements are improving trial design, patient recruitment, and data management, positioning the global clinical trials market for sustained growth over the forecast period.

Global Clinical Trials Market Dynamics

Driver: Expanding Drug Pipelines and Rising Pharmaceutical R&D Investments

The market growth is driven by the increasing number of drug candidates in pharmaceutical and biopharmaceutical companies' pipelines and rising R&D investments. As these companies strive to address unmet medical needs, there is a significant focus on early-stage and late-stage development, leading to a surge in drug discovery and development activities. The growing complexity of clinical trials has prompted outsourcing to CROs (Contract Research Organizations), which provide specialized infrastructure and expertise. This market trend is particularly evident among R&D-intensive pharmaceutical and biopharmaceutical companies, where the demand for innovative drugs and devices is increasing. Additionally, medical device companies are expanding their clinical research to meet regulatory standards and bring new products to market. Pharmaceutical and biopharmaceutical companies increasingly rely on outsourced services to reduce costs, enhance trial efficiency, and accelerate the approval process. This reliance is particularly pronounced in areas requiring advanced technologies, such as advancements in biotechnology, where CROs (contract research organizations) play a critical role in managing complex and specialized trials. Collaborative research efforts are also driving R&D investments, fostering innovation and improving patient recruitment. The expanding pipeline of new therapies is reflected in recent regulatory milestones. In 2023, the United States Food and Drug  Administration (FDA) approved a record 61 new drugs, marking a 42% increase from 2022. This included the first-ever approval of a gene-editing therapy, Casgevy, by CRISPR Therapeutics and Vertex Pharmaceuticals, underscoring the rapid pace of innovation and the growing importance of advanced therapeutic approaches.

Restraint: Demand for Advanced Testing Approaches for Innovative Molecules

The pharmaceutical and biopharmaceutical industries face increasing challenges due to the need for advanced testing methods to support novel treatments and innovative drug development. As these industries pursue accelerated drug development, there is a growing demand for precise bioanalytical testing and robust chemistry, manufacturing, and control (CMC) processes. Developing and validating analytical methods for testing new drug molecules is complex, particularly for emerging drug delivery systems. Furthermore, evolving regulatory expectations and stringent requirements for IND applications necessitate specialized expertise. To address these complexities, companies increasingly rely on an outsourced process to access advanced capabilities and ensure compliance. However, maintaining consistent chemistry, manufacturing, and control (CMC) standards throughout the drug lifecycle remains a critical challenge. Meeting chemistry, manufacturing, and control (CMC) requirements while adapting to changing regulatory expectations is essential for the successful approval and commercialization of novel treatments in the pharmaceutical and biopharmaceutical industries.

Opportunity: Growth Potential for Biologics and Biosimilars

The increasing focus on pharmaceuticals and biotechnology is creating significant opportunities in the global clinical trials market. Rising R&D activities aimed at developing innovative medications and biological substances is driving an influx of new therapies across all clinical trial stages. This expanding pipeline of novel products has heightened the demand for clinical trial services, particularly for complex treatments like biologics and new molecules. In areas such as monoclonal antibodies for cancer treatment, the market is witnessing accelerated growth. Regulatory agencies, including the US FDA, are facilitating faster approvals, further supporting this trend. Additionally, the COVID-19 impact has underscored the need for rapid trial execution and increased collaboration, leading to innovative approaches in trial design. The rising number of advanced therapies, combined with streamlined regulatory pathways, continues to fuel growth in biologics and biosimilars, enhancing the overall outlook for the clinical trials market.

Challenge: Shortage of Qualified Professionals in Clinical Trials

The clinical trials industry faces a significant shortage of skilled professionals, affecting clinical research organizations (CROs), drug companies, biotech firms, medical device makers, and academic research institutes. This shortage hampers market growth as clinical trial service providers struggle to find qualified and experienced scientists to manage complex research protocols. The increasing adoption of new technologies and methodologies in clinical research requires specialized expertise that is in short supply. As clinical trials grow in complexity—especially for advanced therapeutics—demand for skilled people who can effectively implement cutting-edge techniques is outpacing supply. Addressing this talent gap is crucial to maintaining clinical trial timelines and supporting innovation across the industry.

The Global Workforce Intelligence (GWI) Project highlights a significant demand-supply gap in the clinical trials sector, reflecting broader challenges across the healthcare ecosystem. With rising vacancies in clinical research positions, particularly CRC (clinical research coordinators) roles, recruitment remains a persistent challenge. The Josh Bersin Company’s 2022 study reveals that United States healthcare organizations face a projected shortfall of 2.1 million care providers  by 2025 due to retirements, mass resignations, and an aging population. The report emphasizes the need for healthcare workers with advanced technical and transformation skills to address these gaps while promoting automation to ease administrative burdens.

The growing complexity of small-molecule drugs and large-molecule drugs in the global pharmaceutical market intensifies the demand for specialized expertise. The rising prominence of biologics and biosimilars requires advanced specialty testing services, such as biomarker testing and virology testing, to ensure product efficacy and safety. As new biologic-based drugs advance through development, outsourcing to CROs remains a critical strategy for managing trial complexity. This dynamic environment underscores the need for a skilled workforce to sustain market growth and meet the increasing demand for innovative therapies.

Clinical Trials Market Trends

Clinical Trials Market Ecosystem

The global clinical trials market ecosystem involves a complex network of stakeholders contributing to the drug development process. Raw material suppliers provide essential components such as biological samples and chemical compounds. Clinical trials service providers play a critical role in managing and conducting Phase I to Phase IV clinical trials. End users, including pharmaceutical & biotechnology companies, medical device companies, and academic institutes, rely on these services to ensure compliance, data accuracy, and the successful advancement of investigational products through the clinical pipeline, ultimately leading to regulatory approval and market entry.

Clinical research entities collaborate closely with pharmaceutical and biotechnology companies to design strategies and manage services that enhance trial efficiency. These partnerships are essential for accelerating the development timeline and bringing new products to market. Successful clinical trials often rely on building a long-term relationship between service providers and sponsors, fostering innovation and improving trial outcomes. This collaborative approach enhances the reliability, speed, and cost-effectiveness of the clinical development process.

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Segmentation & Scope of the Clinical Trials Industry

By Service Type

• Laboratory Services
• Bioanalytical Testing Services
  • Cell-Based Assay
  • Virology Testing
  • Serology, Immunogenicity, & Neutralizing Antibodies
  • PK/PD Testing
  • Method Development, Optimization & Validation
  • Biomarker Testing
  • Other Bioanalytical Testing Services
• Decentralized Clinical Trial Services
• Patient Recruitment
• Site Identification
• Analytical Testing Services
• Clinical Trial Supply & Logistic Services
• Protocol Designing
• Clinical Trial Data Management Services
• Medical Device Testing Services
• Other Services

Laboratory Services Segment to Lead the Clinical Trials Market by Service Type

The laboratory services segment holds a dominant position in the global clinical trials market by service type, driven by the increasing need for precise data and adherence to regulatory compliance standards. This segment plays a crucial role in drug development and clinical advancement, providing essential diagnostic testing and sample analysis to support clinical research. The growing complexity of trials, particularly for pharmaceutical, biopharmaceutical, and medical device enterprises, is fueling segment growth as companies seek advanced testing solutions. Additionally, CROs are expanding their capabilities to meet evolving regulatory benchmarks, ensuring accurate and reliable laboratory data. This emphasis on maintaining high-quality standards and comprehensive testing solutions continues to strengthen the laboratory services segment’s leadership in the market.

By Phase

• Phase III
• Phase II
• Phase IV
• Phase

Based on the Phase, the Phase III Segment is Likely to Hold a Significant Share of the Clinical Trials Market

The phase III segment accounted for the largest market share of the global clinical trials market in 2022, reflecting its pivotal role in evaluating the safety and efficacy of drug candidates. This phase involves large-scale clinical studies with diverse patient populations, ensuring robust data collection and regulatory approval readiness. The increasing prevalence of chronic diseases and the demand for innovative treatments have contributed to the growth of the phase III segment. Additionally, the complexity of clinical trials at this stage drives the adoption of outsourcing to CROs, which provide specialized expertise and resources. With rising trial volumes, the integration of robust technologies and reliable clinical resources is enhancing efficiency. As a result, the phase III segment is projected to maintain significant growth, contributing to the CAGR of the global clinical trials market over the forecast period.

By Therapeutic Area

• Oncology
• Infectious Diseases
• Neurology
• Metabolic Disorders
• Immunology
• Cardiology
• Genetic Diseases
• Women's Health
• Other Therapeutic Areas

The Cardiology Segment of the Clinical Trials Industry is Expected to Experience the Fastest Growth by Therapeutic Area During the Forecast Period

The cardiology segment of the clinical trials market is anticipated to witness substantial growth, driven by the increasing prevalence of cardiovascular diseases (CVDs) and rising pharmaceutical R&D investments. According to the World Heart Federation, CVDs which include heart and cerebrovascular diseases are the leading cause of death globally, accounting for over 20.5 million deaths annually , with 85% resulting from coronary heart diseases and strokes, particularly in low- and middle-income countries. This surge in cardiovascular diseases (CVDs) has intensified the demand for advanced cardiology drugs and the adoption of clinical trial services. Furthermore, increasing partnerships between service providers and pharmaceutical/biotechnology companies are enhancing trial efficiency. With an expanding geriatric population and growing focus on clinical innovation, the CAGR of the cardiology segment is projected to outpace other therapeutic areas, driven by technological advancements and increased funding for cardiovascular research.

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia Pacific (APAC)
  • China
  • Japan
  • India
  • Rest of Asia Pacific (RoAPAC)
• Latin America (LATAM)
• Middle East and Africa (MEA)

The Asia-Pacific Region is Anticipated to Hold the Highest CAGR in the Clinical Trials Industry During the Forecast Period

The Asia Pacific region is emerging as a leading hub in the clinical trials market, fueled by a thriving pharmaceutical industry, favourable government policies, and expanding manufacturing facilities. The region’s low cost of conducting trials further enhances its attractiveness to global sponsors. This combination of cost efficiency and infrastructure development positions Asia-Pacific as a critical driver of future growth in the clinical trials industry.

The APAC market is rapidly becoming a preferred drug development and clinical research destination due to its cost benefits, large treatment population, and improved clinical trial operations. Increasing outsourcing of preclinical, clinical, and laboratory testing services to local Contract Research Organizations (CROs) supports market growth. Countries like Australia and South Korea are enhancing regulatory procedural improvements and patient access, strengthening their position as global research hubs. At the 2024 Outsourcing in Clinical  Trials UK and Ireland conference, Novotech’s vice president highlighted South Korea’s advanced AI platform for patient matching and Australia’s streamlined six-to-eight-week trial approval process. The Australian government’s Clinical Trials Activity Initiative, launched in 2024, further accelerates outsourcing by offering $750 million over ten years to support trials on rare diseases and unmet medical needs, reinforcing APAC’s rising dominance in the global clinical trials market.

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If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Clinical Trials Market Key Players

The global clinical trials market is driven by increasing demand for innovative therapies, rising pharmaceutical R&D investments, and the growing complexity of clinical research. Leading companies in this market focus on enhancing trial efficiency through advanced technologies, specialized services, and strategic partnerships. Key players include:

• IQVIA
• PAREXEL International Corporation
• ICON Plc
• Syneos Health Inc.
• Labcorp Drug Development (COVANCE)
• WuXi AppTec Co., Ltd.
• Charles River Laboratories
• PPD Inc.
• Medpace Holdings Inc.
• Acm Global Laboratories
• Advanced Clinical LLC
• SGS
• PSI CRO AG
• BioAgile Therapeutics Private Limited
• Laboratory Corporation of America Holdings
• Thermo Fisher Scientific Inc.
• Frontage Labs
• Fortrea Inc.
• Clinical Trial Service
• Worldwide Clinical Trials
• Pepgra
• CTI Clinical Trial & Consulting
• Dove Quality Solutions
• Firma Clinical Research
• Celerion
• Novotech
• Linical Americas

Recent Developments of the Clinical Trials Industry

In June 2024, IQVIA  launched the "One Home for Sites" platform to address technology overload at clinical research sites. This innovative platform consolidates multiple clinical trial systems into a unified dashboard, enhancing site efficiency and patient care. Currently in beta testing, it aims to increase research capacity by streamlining tasks and improving operational workflows.

In June 2024, TrialX launched  an AI-powered Clinical Trial Finder to simplify access to over 58,000 active trials worldwide. This tool translates complex trial information into clear language, improving patient engagement and clinical trial awareness. Patients and caregivers can register as volunteers and receive trial notifications, enhancing patient recruitment and participation in clinical research.

In August 2024, Ushur launched  UshurX, an AI-powered, HIPAA-secure solution to modernize clinical trials engagement. This platform enables life sciences and biopharma organizations to automate pre-screening, onboarding, and monitoring, improving participant recruitment and retention. By reducing manual workloads and enhancing digital engagement, UshurX aims to streamline operations and address delays in clinical trials.

In October 2024, Medable  partnered with Google Cloud to launch its clinical trial tracking software on the Google Cloud Marketplace. This collaboration enhances trial efficiency by leveraging AI and advanced cloud technologies, accelerating trial design and data management. The partnership also simplifies payment processes, allowing users to pay through Google Cloud’s consolidated billing system.

In November 2024, Medable Inc.  introduced Medable AI, a generative AI solution designed to accelerate digital and decentralized clinical trials. Integrated within Medable Studio, it reduces eCOA build times from days to 30 minutes, enhancing clinical trial efficiency. This innovation provides sponsors and Contract Research Organizations (CROs) with greater transparency and control, advancing pharmaceutical R&D processes.

Key Questions Answered in the Clinical Trials Market

• What was the global clinical trials market value in 2024?
• What is the clinical trials market forecast outlook for 2025-2034?
• What is market segmentation based on design?
• How is the market segmented based on phases?
• How is the market segmented based on service type?
• How is the market segmented based on the therapy area?
• What is market segmentation based on application?
• What are the major factors aiding the clinical trials market demand?  
• How has the market performed so far and how is it anticipated to perform in the coming years? 
• What are the market's major drivers, opportunities, and restraints?
• What are the major clinical trials market trends?
• Which design will lead the market segment?  
• Which phase will lead the market segment? 
• Which service area will lead the market segment?  
• Which therapy area will lead the market segment?  
• Which application will lead the market segment?  
• Who are the key players involved in the clinical trials market? 
• What is the patent landscape of the market? 
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?